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Innovation can be referred to its modern meaning of a new idea, new imaginations, creative thoughts in form of method or device. Innovation is many times viewed as the application of better solutions that mean new requirements, existing market needs or unarticulated needs. Such innovations can take place or occur through the provision of more effective products, services, processes, technologies or business models that are made available to the markets, society and governments. Innovation is something basically new and original and more efficient and as a result it is something that breaks into the society or the market. Even though innovation is related to the invention, these two are not the same. 

Innovation is a more apt term to involve the practical implementation of any invention, hence being an improved ability to make meaningful impact in the society or market. The manifestation of innovation is often via the engineering process, when the given problem being solved is of a scientific or technical nature. Exnovation is the term which is the exact opposite of innovation. Even though a novel device might be described as an innovation, in economic terms, management science and other such fields of practice and analysis innovation is more often considered to be the result of a process that brings together various novel ideas in a way that it affects the society in a positive manner.

Image Name: Service Area Marketing Forklift Digital Text
Image category: Innovation | Download Innovation Zip
Parent category: Miscellaneous
Format: PNG image with alpha (transparent)
Resolution: 1456x1000
License: Creative Commons (CC BY-NC 4.0)
Size: 372.3KB
Rating: 2
Views: 1479
Author: Alexis Bailey
Date Added: 01-07-2019
PNG Downloads: 334
ICON Downloads: 105

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