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{{other uses|Innovation (disambiguation)|Innovators (disambiguation)}}
{{Use dmy dates|date=October 2020}}
[[Image:Edison and phonograph edit2.jpg|thumb|190px|[[Thomas Edison]] with [[phonograph]]. Edison
'''Innovation''' is the practical implementation of [[ideas]] that result in the introduction of new [[goods]] or [[service (economics)|services]] or improvement in offering goods or services.<ref>{{Cite book|last=Schumpeter, Joseph A., 1883–1950|title=The theory of economic development: an inquiry into profits, capital, credit, interest, and the business cycle|others=Opie, Redvers,, Elliott, John E.|year=1983|isbn=0-87855-698-2|location=New Brunswick, New Jersey|oclc=8493721}}</ref> [[ISO TC 279]] in the standard ISO 56000:2020 <ref>{{cite web | url = https://www.iso.org/obp/ui/#iso:std:iso:56000:ed-1:v1:en:term:3.1.1| title = ISO 56000:2020(en)Innovation management — Fundamentals and vocabulary | date = 2020| work = ISO }}</ref> defines innovation as "a new or changed entity realizing or redistributing [[value (economics)|value]]". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
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| date = 1939
| page = 84
| quote = Innovation is possible without anything we should identify as invention, and invention does not
}}
</ref>
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