Have you ever wondered ‘what is innovation?’ Innovation can
be a nebulous idea that is hard to pin down and can be expressed
differently depending on the person. Simply defined, innovation is “the
act or process of introducing new ideas, devices or methods,” however,
in today’s language, in an age when apps and electronics dominate our
daily activities, innovation has taken on a grander meaning.
Forbes, when determining companies for their annual
report on the world’s most innovative, measures the value of a company’s
existing business, based on expectations of future innovative results,
such as new products, services and markets. On a list like this one, the
companies are big. What about the smaller companies and the start-up
companies?