Innovation

Innovation is a new idea, or more-effective device or process. Innovation can be 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.

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 have an impact on society.

Inter-disciplinary views

Business and economics

In business and economics, innovation can be a catalyst to growth. With rapid advancements in transportation and communications over the past few decades, the old world concepts of factor endowments and comparative advantage which focused on an area’s unique inputs are outmoded for today’s global economy. Economist Joseph Schumpeter, who contributed greatly to the study of innovation economics, argued that industries must incessantly revolutionize the economic structure from within, that is innovate with better or more effective processes and products, as well as market distribution, such as the connection from the craft shop to factory. He famously asserted that “creative destruction is the essential fact about capitalism”. In addition, entrepreneurs continuously look for better ways to satisfy their consumer base with improved quality, durability, service, and price which come to fruition in innovation with advanced technologies and organizational strategies.

CGI

CGI may refer to:

Technology

Organizations

United States

Coordinates: 40°N 100°W / 40°N 100°W / 40; -100

The United States of America (USA), commonly referred to as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major territories and various possessions. The 48 contiguous states and Washington, D.C., are in central North America between Canada and Mexico. The state of Alaska is in the northwestern part of North America and the state of Hawaii is an archipelago in the mid-Pacific. The territories are scattered about the Pacific Ocean and the Caribbean Sea. At 3.8 million square miles (9.842 million km²) and with over 320 million people, the country is the world's third or fourth-largest by total area and the third most populous. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The geography and climate of the United States are also extremely diverse, and the country is home to a wide variety of wildlife.

President of the United States

The President of the United States of America (POTUS) is the elected head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces.

The President of the United States is considered one of the world's most powerful people, leading the world's only contemporary superpower. The role includes being the commander-in-chief of the world's most expensive military with the largest nuclear arsenal and leading the largest economy by real and nominal GDP. The office of the president holds significant hard and soft power both in the United States and abroad.

Article II of the U.S. Constitution vests the executive power of the United States in the president. The power includes execution of federal law, alongside the responsibility of appointing federal executive, diplomatic, regulatory and judicial officers, and concluding treaties with foreign powers with the advice and consent of the Senate. The president is further empowered to grant federal pardons and reprieves, and to convene and adjourn either or both houses of Congress under extraordinary circumstances. The president is largely responsible for dictating the legislative agenda of the party to which the president is enrolled. The president also directs the foreign and domestic policy of the United States. Since the founding of the United States, the power of the president and the federal government has grown substantially.

Gary White

Gary White may refer to:

See also