Business innovation refers to the process of developing new ideas, products, or services that improve a company's operations or market position. This can involve adopting new technologies, creating unique business models, or enhancing customer experiences. The goal is to increase efficiency, drive growth, and stay competitive in a rapidly changing market. Companies often engage in business innovation to respond to evolving consumer needs or to capitalize on emerging trends. This can include digital transformation, sustainable practices, or collaborative partnerships. By fostering a culture of innovation, businesses can adapt and thrive in an increasingly complex economic landscape.