Creative activity resulting in change, eg new creations and new ways of doing things. The spectrum covered by innovation includes at one end a new creation, concept, discovery or invention and at the other end merchandising, repackaging, relaunching, improvements, and line extension. As a process, innovation requires people who create, collect, assess and test innovation. Three innovation levels can be distinguished:
- the organisational structure level,
- the operations level (relating to the organisation's functions and processes), and
- the offerings level (relating to products and services).
These are typically directed towards, respectively creation of new markets, extension to new markets, and serving current markets.