Innovations are the creation and exploitation of value providing or value built in ‘newness’ or ‘differences’ in products

Innovations are the creation and exploitation of value providing or value built in ‘newness’ or ‘differences’ in products, processes, technologies, methods and business type such as other technologies, products, processes, methods and business models from current or earlier production that are often built by the occurrence of one or more events with low success probabilities’ that may require ‘high problem resolution’ and show ‘possibility effect of a particular solution or deliverable in the native state of occurrence of the events in the product, process, technology, method or business model’ and hence can be called as ‘innovation events’. The skill and knowledge systems could be either in technical systems or management systems or both and would deploy innovation supportive assets. The net effect is that ‘innovation events’ are transformed to ‘innovations’. Furthermore, making products as well as knowledge of the linkages between them also called architectural knowledge because of the strategy that is use must correct and meet the demand of the customers and trend.