Innovation
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:

  1. the organisational structure level,
  2. the operations level (relating to the organisation's functions and processes), and
  3. 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.