Innovation can be defined simply as a "new idea, device or method".[1] However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.[2] 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.[3] It is related to, but not the same as, invention,[4] as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society,[5] and not all innovations require an invention. Innovation is often manifested via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
