What does Innovation mean in the Business World?

Businesses that are able to generate new and innovative products can set themselves apart from competitors and gain loyal customers, leading to increased revenue and reputation. Innovation involves creating new ideas, processes, and products, as well as modifying existing ones to meet the needs of customers. It is crucial for businesses to stay current through innovation, especially in competitive markets, and can also help solve crucial issues faced by customers. MIT ID Innovation offers courses to help businesses improve their innovation strategies and increase revenue.