an act of improving or the state of being improved.
a change or addition by which a thing is improved.
a person or thing that represents an advance on another in excellence or achievement: The new landlord is a great improvement over his greedy predecessor.
a bringing into a more valuable or desirable condition, as of land or real property; betterment.
something done or added to real property that increases its value.
profitable use, as of a period of time.

1400–50; late Middle English improuement < Anglo-French emprouement something profitable (especially exploitation of land). See improve, -ment

nonimprovement, noun
preimprovement, noun

3. refinement, betterment, advancement. 4. enhancement, repair. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
improvement (ɪmˈpruːvmənt)
1.  the act of improving or the state of being improved
2.  something that improves, esp an addition or alteration
3.  Compare conversion alteration of the structure, fixtures, fittings, or decor of a building without changing its function
4.  (Austral), (NZ) (usually plural) a building or other works on a piece of land, adding to its value

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
The annual report card for scholarship athletes was the best yet this year-but
  there's plenty of room for improvement.
Organic gardening and agriculture focus on the improvement of soils to provide
  plants with nutrients.
The improvement in conditions was an unexpected turnaround.
When spray-on hair is an option, certainly there's room for improvement.
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