ECO-FRIENDLY GANESH

ENGG.

Innovation is a new idea, more effective device or process. Innovation can be viewed as the application of better solutions that meet new requirements, in articulated needs, or existing market needs. This is accomplished through more effective products processes, services, technologies, or ideas 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. 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 a process that brings together various novel ideas in a way that they have an impact to the society. Innovation differs from invention, in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers to more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. Social Innovation refers to the creation, development, adoption and integration of new concepts and practices that put people and the planet first. Social Innovation resolves existing social, cultural, economic and environmental challenges. Some social innovations are systems changing them innovation come from individuals, groups or organizations, and can take place in the for-profit, non-profit and public sectors. Increasingly, they are happening in the spaces between these three sectors as perspectives collide to spark new ways of thinking permanently alter the perceptions, behaviors and structures that previously gave rise to these challenges. Even more simply, a social innovation is an idea that works for the public good.

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