Innovation can be defined simply as a "New Idea, Device or Method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society.
The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.
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