Enterprise Innovation and ESG Management Strategies

Understanding the definition of “innovation” requires understanding its verb form first, which is “innovate”. According to the Oxford English Dictionary, “innovation” means “To change (a thing) into something new; to alter; to renew.”, “To bring in (something new) the first time; to introduce as new.” or “To bring in or introduce novelties; to make changes in something established; to introduce innovations.” which originated from the mid-sixteenth century Latin word “innovat-” (meaning: renewed, altered) derived from the verb “innovare” (a compound word: in ‘into’ + novare ‘make new’).