Dictionary entry overview: What does laurel wreath mean? â¢ LAUREL WREATH (noun) The noun LAUREL WREATH has 2 senses: 1. an award for winning a championship or commemorating some other event 2. (antiquity) a wreath of laurel foliage worn on the head as an emblem of victory Familiarity information: LAUREL WREATH used as a noun is rare.
Reverse Innovation â Definition and Examples. Reverse Innovation is the strategy of innovating in emerging (or developing) markets and then distributing/marketing these innovations in developed markets. Many companies are developing products in emerging countries like China and India and then distributing them globally.
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. This is accomplished through more-effective products, processes, services, technologies, or business models that are readily 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.[3] It is related to, but not the same as, invention.[4] Innovation is often manifested via the engineering process. The opposite of innovation is exnovation.