Inovacija je primjena nove i poboljšane ideje, postupka, dobra,usluge, procesa koja donosi nove koristi ili kvalitetu u primjeni. Proces inoviranja je dinamičan proces, te se kao i sve drugo stalno mijenja i prilagođava kako se osigurala konkurentska prednost. Inovaciju ne valja poistovjetiti sa invencijom, jer su to dva različita pojma. Invencija je samo ideja tj. sinonim za neki pronalazak i otkriće. Inovacija podrazumijeva oboje, invenciju i komercijalizaciju. Inovativnost se može manifestirati u obliku novih proizvoda, novih procesa ili novih poslovnih sustava. U vremenu krize inovativnost ne mora značiti samo stvaranje novih proizvoda, nego i iznalaženje načina preživljavanja, kreativno korištenje postojećih resursa ali i upravljanje troškovima. Inovator je posebno nadarena osoba koja primjenom inventivnog pristupa rješavanju problema stvara inovaciju

Innovation is the application of new and improved ideas, procedures, goods, services, processes, which brings new benefits or quality of the application. The process of innovation is a dynamic process, and like everything else is constantly changing and adapting in order to ensure a competitive advantage. Innovation is not the invention, because they are two different concepts. Invention is just an idea, synonym for an invention and discovery . Innovation involves both invention and commercialization . Innovation can be manifested in the form of new products, new processes or new business systems. In times of crisis, innovation does not necessarily mean only the creation of new products, but also finding ways to survive, creative use of existing resources as well as cost management. Innovator is particularly gifted person applying innovative approaches to solving problems creates innovation.