Innovation

I am holding a whole day meeting to discuss about innovation. People talked a lot about it, but I am still not satisfied about it and have questions:

• What actions do we have to archive our idea about innovation.
• Do we really understand what innovation means?

I have some thinks about innovation. From my understanding, sometimes we misunderstand the difference between innovation/improvement/invention and others things. Innovation is a beautiful word, but what really does it mean?

For company, right product strategy is always more important than "innovation". What kind of product do you want to build? Then comes how to build this product with innovation idea.