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The video provides a concise definition of innovation, explaining its significance and how it involves creating new ideas or methods. It emphasizes the importance of innovation in various fields and its role in driving progress and change.

What is the primary focus of innovation?

• Eliminating all risks

• Introducing new ideas or methods

• Repeating existing processes

• Maintaining the status quo

How does innovation differ from mere improvement?

• Improvement always leads to innovation

• Innovation involves minor tweaks

• Improvement is more challenging than innovation

• Innovation is about completely new approaches

Which of the following is a characteristic of innovation?

• It guarantees immediate success

• It is only applicable in technology

• It is often disruptive and transformative

• It always follows a predictable path

Which industry has been significantly transformed by innovation?

• Textile

• Technology

• Agriculture

• Mining

What is a common outcome of successful innovation?

• Reduced customer satisfaction

• Increased resistance to change

• Enhanced efficiency and effectiveness

• Decreased market competition