Billions of dollars and thousands of work hours are spent each day around the world chasing a single, yet powerful, idea: innovation.

Entrepreneurs seek it. Big companies covet it. Business school professors study it. Scientists poke and prod it. Economists worship it. Governments attempt to harness it. Management consultants and business book authors worldwide peddle its many secrets.

At its simplest level, innovation is about finding new ideas that make something better, from new products, to new technologies to more efficient manufacturing processes and more.

But there’s little doubt that innovation is a big idea, no matter how it’s defined.

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