Corporate innovation is the process of developing fresh concepts or working to enhance already successful ones within a company or organization. It plays a significant role in the process of enhancing productivity, viability and competition. Innovation can take many different forms, from the creation of brand-new goods or services to the enhancement of internal procedures or the adoption of cutting-edge technology. To remain competitive and satisfy customers' evolving expectations, it is crucial for companies to consistently look for new ideas and methods of doing things.

Corporate innovation categories:
These are the four distinct categories of innovation that stand out and appear to be in wide agreement among businesses looking for ground-breaking theories, thoughts, or goods:

•     Progressive innovation
•     Neighbouring innovation
•     Innovative disruption
•     Innovative thinking

Goals:

•     Creating internal innovation departments or teams.
•     Working with outside partners, including start-ups or research organizations.
•     Encouraging staff members to contribute ideas and take part in innovation projects.
•     Making Research and Development investments (R&D).
•     Putting new methods and technology into practice.