Innovation
Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made 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. Innovation is related to, but not the same as, invention, 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, and not all innovations require an invention. Innovation often manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
Social
Living organisms including humans are social when they live collectively in interacting populations, whether they are aware of it, and whether the interaction is voluntary or involuntary.
Understanding
Understanding is a psychological process related to an abstract or physical object, such as a person, situation, or message whereby one is able to think about it and use concepts to deal adequately with that object. Understanding is a relation between the knower and an object of understanding. Understanding implies abilities and dispositions with respect to an object of knowledge that are sufficient to support intelligent behaviour.
Understanding
You know, we have little bits of understanding, glimpses, a little bit of light here and there, but there's a tremendous amount of darkness, which is a challenge. I think life would be pretty boring if we understood everything. It's better if we don't understand anything... and know that we don't, that's the important part.
Noam Chomsky, in interview in Cardiff, Wales, UK (11 March 2011)
Innovation
Innovation implies high risk, and with high risk comes failure, so you’ve got to be prepared for that, but if you don’t risk, then your business goes stale very quickly.
Michael Grade, British broadcasting executive. From the transcript of his interview with Martyn Lewis, in his book, Reflections on Success (1997).
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