Innovation has become a mantra for a lot of companies, unfortunately it is not enough to declare it and not to act accordingly and become innovative.
There are a lot of definitions about innovation and I would like to contribute and add mine.
First, we need some ingredients: newness/originality, customer needs/jobs to be done, ideas, products/services/businesses, execution/ implementation, value for clients/ company.
If we mix all the ingredients, we may come to this definition which is of course not exhaustive:
Innovation is the activity of generating and implementing original ideas for new products/services/businesses who create value for the clients and the company and fulfill a customer need or a job to be done.