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. Innovation can take many forms, such as product innovation, which focuses on creating new or improved goods, or process innovation, which streamlines operations to reduce costs. Companies like Apple and Tesla are often cited as examples of successful business innovation, as they continually push boundaries to meet consumer needs.