No, but economic success is usually involved.
"The concept of innovation emerged after the Second World War, mostly thanks to the works of
Joseph Schumpeter (1883–1950) who described the economic effects of innovation processes as
Constructive destruction. " -Wikipedia
Joseph Schumpeter is best known for his concept of
creative destruction, where innovation disrupts existing markets, creating new opportunities and rendering old technologies or businesses obsolete. Schumpeter emphasized that entrepreneurs are central to this process by introducing new products, processes, or organizational methods that drive economic growth.
Again from the Wikipedia-article on innovation:
Surveys of the literature on innovation have found a variety of definitions. In 2009, Baregheh et al. found around 60 definitions in different scientific papers, while a 2014 survey found over 40.
[7] Based on their survey, Baragheh et al. attempted to formulate a multidisciplinary definition and arrived at the following:
In a study of how the
software industry considers innovation, the following definition given by Crossan and Apaydin was considered to be the most complete. Crossan and Apaydin built on the definition given in the
Organisation for Economic Co-operation and Development (OECD) Oslo Manual:
[7]