Business innovation is the process of introducing new ideas, workflows, and methodologies into a company’s business strategy that leads to growth.

Business innovation takes different forms, from a new marketing tactic to an altered workflow or a brand-new product.

Four types of innovation are recognized: product innovation, process innovation, marketing innovation, and organizational innovation.

Innovative companies have the objective of creating value and driving revenue in an ever-changing market that is ruthless with those who don’t keep pace. Whether by exploring ways of improving existing products or services or creating new ones, business leaders leverage the benefits of innovation to find the competitive advantage that makes them stand out and scale their existing business.

Discover from this section’s articles how you can improve your business processes and business models, and how you can unleash different sources of innovation to raise the value of your core business.