Innovation involves only the creation of new products, not the improvement of existing ones.Group of answer choicesTrueFalse

Answer Explanation

The statement "Innovation involves only the creation of new products, not the improvement of existing ones" is False.

Innovation encompasses a broad spectrum of activities, including both the creation of entirely new products and the enhancement or improvement of existing products, processes, or services. Many successful innovations arise from refining and upgrading what is already available, thereby making it more efficient, effective, or user-friendly. This understanding of innovation is critical in various fields such as technology, business, and manufacturing, where elevating current offerings can lead to significant improvements and market success.

In summary, innovation is not limited to the novelty of new products; it also significantly includes advancements in existing products, processes, and practices, making the statement inaccurate.