Area of interest
While something novel is often described as an innovation, in economics, management science, and other fields of practice and analysis it is generally considered a process that brings together various novel ideas in a way that they have an impact on 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 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. Inter-disciplinary views Society
In the past, economic activity was theorized to be bounded by natural resources, labor, and capital. This view ignores the value of technology (automation, accelerator of process, reduction of cost functions), and innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions), especially that which produces intellectual property. A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. Economy
Social networks and the analysis of them is an inherently interdisciplinary academic field which emerged from social psychology, sociology, statistics, and graph theory. Georg Simmel authored early structural theories in sociology emphasizing the dynamics of triads and "web of group affiliations.
Research and development Cycle of research and development The research and development (R&D, also called research and technical development or research and technological development, RTD in Europe) is a specific group of activities within a business. The activities that are classified as R&D differ from company to company, but there are two primary models.