What is the simple meaning of innovation?
Answer and explanation
Correct answer: Doing something in a new and better way
Innovation means applying a new or improved idea, method, product, or process that creates useful value. It does not always require a completely new invention; a practical improvement in quality, speed, cost, or customer experience can also be innovation. Therefore option A is correct, while repeating errors or stopping work is not innovation.
Frequently asked questions
What is the correct answer to this question?
Doing something in a new and better way
Why is this the correct answer?
Innovation means applying a new or improved idea, method, product, or process that creates useful value. It does not always require a completely new invention; a practical improvement in quality, speed, cost, or customer experience can also be innovation. Therefore option A is correct, while repeating errors or stopping work is not innovation.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
