Innovation administration - selecting Good Ideas

Managers - Innovation administration - selecting Good Ideas

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Creativity can be defined as question identification and idea generation whilst innovation can be defined as idea selection, amelioration and commercialisation. There are certain processes that improve question identification and idea generation and, similarly, certain processes that improve idea selection, amelioration and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and premium and that investment in developing and commercialising those ideas will not be wasted.

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A amount of idea option methods can be used. For a whole evaluation, it is advisable to use all methods. Considering the costs of research and amelioration and the added cost of re-engineering products when flaws are discovered, it pays to guide in-depth valuation before large investments in that idea are given a Go status.

Some of the idea option methods include:

a) Comparing the type of idea with those types of ideas that have previously been most successful.

b) Judging either the idea fits well with the firm.

c) Analysing the likely practical impediments that may prevent thriving commercialisation.

d) Knowing how and when the Go or Kill decisions will be made when an idea is in the idea funnel.

e) Knowing how the consumer will benefit.

Additionally, there are benefits to failure. Whilst an idea may be judged as being commercially unsuccessful, the firm, team or individual may learn valuable competencies that will increase the chances of the next stock being successful. Ridley Scott had slight commercial success with Blade Runner, but went on to make some of the most lucrative movies ever.

These topics are covered in depth in the Mba dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation Diy Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com.

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Kal Bishop, Mba

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