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.
Invention is transforming these new thoughts into tangible ideas. Innovation is introducing these ideas to the end-user. Innovation is channeling creativity (managing its application i.e. invention) so as to produce ideas/products that people can and wish to use (i.e. marketable). For an invention, the focus is on novelty and this is a key criterion for patenting.