Innovation is a processA series of actions, changes or operations performed in the making or creating of a product or outcomes. The procedures that one goes through in... by which a domain, a product, or a service is renewed and brought up to date by applying new processes, introducing new techniquesA procedure, formula or routine by which an outcome or artwork is achieved, to include weaving thread into cloth with a darning needle, carving wood..., or establishing successful ideas to create new value. The creation of value is a defining characteristic of innovation.