Corporate innovation refers to the process by which companies develop new ideas, products, or services to improve their operations and stay competitive in the market. This can involve adopting new technologies, enhancing existing offerings, or creating entirely new business models. The goal is to foster creativity and adaptability within the organization to meet changing consumer demands. To achieve corporate innovation, companies often establish dedicated teams or departments that focus on research and development. They may also collaborate with external partners, such as startups or research institutions, to leverage fresh perspectives and expertise. This collaborative approach can lead to breakthroughs that drive growth and efficiency.