Innovation refers to the process of introducing new ideas, methods, products, or processes that result in significant positive change or improvement. It involves creativity, problem-solving, and the application of new or improved solutions to address existing challenges or to meet evolving needs. Innovation can occur in various fields, such as technology, business, science, arts, and more, and often involves taking risks, pushing boundaries, and exploring uncharted territories to bring about progress and advancement. 

Continuous improvement (CI), is a systematic approach focused on consistently enhancing processes, products, or services within an organization. It's a philosophy that aims to make ongoing, incremental changes and refinements to achieve higher efficiency, quality, and performance over time.

Key principles of continuous improvement include:

• Kaizen: This Japanese term translates to "change for better." It emphasizes the importance of making small, incremental improvements regularly rather than seeking large, infrequent changes.

• Plan-Do-Check-Act (PDCA) Cycle: This cycle involves planning a change, implementing it, observing the results, and then acting on those observations to continuously refine and improve the process.

• Employee Involvement: It encourages all employees, at every level, to contribute ideas for improvement. This engagement fosters a culture of innovation and ownership of the improvement process.

• Data-Driven Decision Making: Continuous improvement relies on data and metrics to identify areas for improvement, track progress, and evaluate the impact of changes.

• Iterative Approach: It involves a series of small, iterative steps rather than one-time, large-scale changes. This method allows for testing and refining changes before full implementation.

Continuous improvement is not a one-time project but rather an ongoing, ingrained part of an organization's culture. It enables businesses to adapt to changing conditions, optimize processes, and drive innovation, leading to increased efficiency, higher quality products or services, and greater customer satisfaction.