(Editor’s Note Wednesday May 2, 2018)
Article originally published on Mar 20, 2017 by Rylan Branch
The cold part about it is that last year when this article was published and the time since, there were some who turned their nose up at this concept because it sounded too Pimpish + Hoeish taking things way outside of their current comfort zone, but from the looks of it, Mark Zuckerberg and them after the go down went down with their brand said;
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. This is accomplished through more-effective products, processes, services, technologies, or business models that are readily 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. It is related to, but not the same as, invention.
Innovation is often manifested via the engineering process. The opposite of innovation is exnovation. While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis, innovation is generally considered to be the result of a process that brings together various novel ideas in a way that they affect society. In industrial economics, innovations are created and found empirically from services to meet the growing consumer demand.