What is the meaning of innovation?
Answer and explanation
Correct answer: Using a new or improved method
Innovation means introducing a new idea or making a meaningful improvement in a product, service, process, or method of working. It should create useful value or solve a problem better. Repeating an old mistake, avoiding customers, or stopping work does not involve new thinking or beneficial improvement.
Frequently asked questions
What is the correct answer to this question?
Using a new or improved method
Why is this the correct answer?
Innovation means introducing a new idea or making a meaningful improvement in a product, service, process, or method of working. It should create useful value or solve a problem better. Repeating an old mistake, avoiding customers, or stopping work does not involve new thinking or beneficial improvement.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
