Innovation
Part of speech: noun
Definition: The act of innovating; the introduction of something new, in customs, rites, etc. A change effected by innovating; a change in customs; something new, and contrary to established customs, manners, or rites. A newly formed shoot, or the annually produced addition to the stems of many mosses.
Example sentence: The five essential entrepreneurial skills for success: Concentration, Discrimination, Organization, Innovation and Communication.
Novelty
Part of speech: noun
Definition: The state of being new or novel; newness.A new product; an innovation.A small mass-produced trinket.In novelty theory, newness, density of complexification, and dynamic change as opposed to static habituation.