To define innovation, it is imperative to consider its value. A study published in Harvard Business Review found that 80 percent of its survey respondents
rated "becoming more innovative" among their top three business priorities; and said that increasing their company's capacity for innovation was critical to
creating future competitive advantage and earning profits. Another report published by Accenture and the Talent Foundation (Nov. 2002) found that majority ofof executives surveyed believe that the importance of innovation has increased.and manycompanies have increased investment in innovation over the past two years.

Management thinker Peter Drucker claimed that innovation is fundamental to making a profit. According to Drucker, the essential
purpose of a business is to create a customer. To this end, only marketing and innovation can produce results; all other activities are simply part of the cost
of doing business. In his book Innovation and Entrepreneurship: Practice and Principles, Drucker proposed "Seven Sources for Innovation Opportunities"

According to Thomas A. Stewart in his book Intellectual Capital: The New Wealth of Organizations, intellectual capital "... is the sum of everything everybody
in a company knows that gives it competitive edge." Recognizing and respecting the value of intellectual capital is the hallmark of an innovative business.
So innovation is also likely to be about leveraging the intellectual capital you have, what I call new-old innovation, and expanding this intellectual capital,
or new-new innovation. (See the sidebar for an overview of Stewart's Ten Principles for Managing Intellectual Capital.)

But how do you define and value innovation in a social angle, the challenge is to bring the innovation for social audit, and thoroughly examine its social implications