The word 'innovation' is being thrown around everywhere nowadays.

And more people think of the new shiny iPhone or the trending cool app everyone is talking about.

However, in my opinion, innovation can fall into three types of categories:

(1) Management / Work Organizations

(2) Process / Workflows

(3) Products / Services

I believe 'innovation' is simply a new way of doing something that is an improvement of the original concept. This can range from learning about a new way to drive to work to avoid the traffic all the way to a new way to name your computer files to find them faster.

So the next time you hear the word 'innovation', try not to think of developing a new product or service since that's only one category.