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What is innovation?

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Question added by Juan Fernando Lopez , Teacher/Educational Investigation Chief , Unidad Educativa Fiscal "José de Villamil"
Date Posted: 2014/12/27
Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all

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