Definition of innovation: The process of translating an idea or invention into a good or service that creates value or for which customers will pay. To be called an innovation, an idea must be replicable at an economical cost. Dictionary Term of the Day Articles Subjects BusinessDictionary Business Dictionary Dictionary Toggle navigation. Uh oh! You're not signed up. Sign Up Close.
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Average number of full-time employees - The average number of full-time employees during the period. Full-time equivalents include part-time positions. Average number of outstanding shares - The average number of shares outstanding during the period. B2B - Business-to-business, i.e. business activities carried out between two or more companies without consumer contact.
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