How does DECA define "innovation" in a business context?

In the context of DECA, "innovation" refers to the process of creating new ideas or approaches that enhance business performance. This definition encompasses a broad spectrum of activities and strategies that lead to improvements within a company, whether they pertain to products, services, processes, or overall business strategy.

This perspective highlights that innovation is not just about integrating new technologies or cutting costs but revolves around the more comprehensive goal of fostering growth and competitiveness in the marketplace. For instance, innovation can include rethinking how a business operates, exploring new market opportunities, or finding creative ways to meet customer needs more effectively.

While developing new marketing strategies or implementing new technologies are elements that could fall under the umbrella of innovation, they are more niche aspects rather than the full picture. Cost-cutting measures, while beneficial, do not inherently lead to improvements in business performance in the innovative sense; they often focus on efficiency rather than the creation or enhancement of value. Thus, the definition provided emphasizes the importance of new ideas and approaches as a guiding principle in driving positive change in business.