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An expanded definition of innovation is technological innovation. Although innovation is a fairly well-defined notion, many people especially those in the academic and corporate worlds understand it to imply different things.

Financial modeling is a tool that businesses actively employ to inform their financial strategy and strategic choice-making. Financial models provide a data-driven, mathematical methodology that reveals the current state and future direction of your business.

The study of the effects of cultural variance on both individual financial decisions and the functioning of financial markets is known as cultural finance, a developing area in behavioral economics.