Innovation

Innovation is a new idea, or more-effective device or process. Innovation can be 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.

While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis, innovation is generally considered to be the result of a process that brings together various novel ideas in a way that they have an impact on society.

Inter-disciplinary views

Business and economics

In business and economics, innovation can be a catalyst to growth. With rapid advancements in transportation and communications over the past few decades, the old world concepts of factor endowments and comparative advantage which focused on an area’s unique inputs are outmoded for today’s global economy. Economist Joseph Schumpeter, who contributed greatly to the study of innovation economics, argued that industries must incessantly revolutionize the economic structure from within, that is innovate with better or more effective processes and products, as well as market distribution, such as the connection from the craft shop to factory. He famously asserted that “creative destruction is the essential fact about capitalism”. In addition, entrepreneurs continuously look for better ways to satisfy their consumer base with improved quality, durability, service, and price which come to fruition in innovation with advanced technologies and organizational strategies.

Climate

Climate is the statistics (usually, mean or variability) of weather, usually over a 30-year interval. It is measured by assessing the patterns of variation in temperature, humidity, atmospheric pressure, wind, precipitation, atmospheric particle count and other meteorological variables in a given region over long periods of time. Climate differs from weather, in that weather only describes the short-term conditions of these variables in a given region.

A region's climate is generated by the climate system, which has five components: atmosphere, hydrosphere, cryosphere, lithosphere, and biosphere.

The climate of a location is affected by its latitude, terrain, and altitude, as well as nearby water bodies and their currents. Climates can be classified according to the average and the typical ranges of different variables, most commonly temperature and precipitation. The most commonly used classification scheme was Köppen climate classification originally developed by Wladimir Köppen. The Thornthwaite system, in use since 1948, incorporates evapotranspiration along with temperature and precipitation information and is used in studying biological diversity and the potential effects on it of climate changes. The Bergeron and Spatial Synoptic Classification systems focus on the origin of air masses that define the climate of a region.

World Bank

The World Bank is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.

The World Bank's official goal is the reduction of poverty. However, according to its Articles of Agreement, all its decisions must be guided by a commitment to the promotion of foreign investment and international trade and to the facilitation of Capital investment.

World Bank Group

The World Bank is not to be confused with the World Bank Group, an extended family of five international organizations:

Climate change

Climate change is a change in the statistical distribution of weather patterns when that change lasts for an extended period of time (i.e., decades to millions of years). Climate change may refer to a change in average weather conditions, or in the time variation of weather around longer-term average conditions (i.e., more or fewer extreme weather events). Climate change is caused by factors such as biotic processes, variations in solar radiation received by Earth, plate tectonics, and volcanic eruptions. Certain human activities have also been identified as significant causes of recent climate change, often referred to as "global warming".

Scientists actively work to understand past and future climate by using observations and theoretical models. A climate record—extending deep into the Earth's past—has been assembled, and continues to be built up, based on geological evidence from borehole temperature profiles, cores removed from deep accumulations of ice, floral and faunal records, glacial and periglacial processes, stable-isotope and other analyses of sediment layers, and records of past sea levels. More recent data are provided by the instrumental record. General circulation models, based on the physical sciences, are often used in theoretical approaches to match past climate data, make future projections, and link causes and effects in climate change.

Bill Gates

William Henry "Bill" Gates III (born October 28, 1955) is an American business magnate, philanthropist, investor, and computer programmer. In 1975, Gates and Paul Allen co-founded Microsoft, which became the world's largest PC software company. During his career at Microsoft, Gates held the positions of chairman, CEO and chief software architect, and was the largest individual shareholder until May 2014. Gates has authored and co-authored several books.

Starting in 1987, Gates was included in the Forbes list of the world's wealthiest people and was the wealthiest from 1995 to 2007, again in 2009, and has been since 2014. Between 2009 and 2014, his wealth doubled from US$40 billion to more than US$82 billion. Between 2013 and 2014, his wealth increased by US$15 billion. Gates is currently the richest person in the world.

Gates is one of the best-known entrepreneurs of the personal computer revolution. Gates has been criticized for his business tactics, which have been considered anti-competitive, an opinion which has in some cases been upheld by numerous court rulings. Later in his career Gates pursued a number of philanthropic endeavors, donating large amounts of money to various charitable organizations and scientific research programs through the Bill & Melinda Gates Foundation, established in 2000.