Innovation is the process of translating an idea or Invention into a good or service that creates value or for which customers will pay. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving a greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products in business. Innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.
In this episode of Youth Live, our hosts Vicky Letageng and Destiny Toli discuss with our guest Zithande Mbala, about innovation. Watch the video to learn more about innovation.