This document discusses innovation and provides examples. It defines innovation as involving risk-taking, path-breaking, and value creation. Dhirubhai Ambani is provided as an example of an innovative risk-taker. Innovation is described as a joint effort that requires an open culture and employee empowerment. Metrics like scaling up proof-of-concepts are discussed as measures of innovation success. Management of innovation should involve ideation, championing of ideas, and allowing ideators to work on projects. Case studies on challenging conventional wisdom in areas like engineering design and process are also presented.