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Innovation is different and distinct from creativity in that it is idea selection, development and commercialisation as opposed to creativity, which is problem identification and idea generation. The core issue with innovation management is, therefore, how to select those ideas that are most likely to succeed? Ideas have to pass though an idea funnel as most organizations lack the resources to try out all their good ideas. The Economist (2003) states that 3000 bright ideas result in 100 worthwhile projects, which are winnowed down to four development programmes. And four such development programmes are required to stand any chance of getting one winner. Within the idea funnel, ideas must regularly pass GO and KILL points. Here it is decided whether an idea should remain in order to ascertain its potential or be killed off and make way for a new idea. The selection process can be difficult – drop an idea and you may have lost that one gem; keep it in and you disallow another potentially good idea reaching fruition. Certain ideas have more probability of success than others. a) Some ideas will naturally have cultural, technical or other impediments. Condom use in Africa to prevent AIDS is subject to cultural taboos. Non-carbon fuel cars must beat back resistance from the oil industry. E-commerce suffers from fear of Internet fraud. Impediments can be plotted against the S-curve in order to generate a risk profile for each idea under consideration. b) Some ideas have an inherent greater chance of success than others, depending on their origin. Franklin (2003) argues that ideas that have resulted from solution spotting – when individuals have sought solutions for particular problems – have a significantly greater chance of success than most other ideas. The nearest competitors are ideas that originate from random events. This topic is 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. You can also receive a regular, free newsletter by entering your email address at http://www.managing-creativity.com. Kal Bishop, MBA ********************************** You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained. Restaurant Templates And Forms. - Restaurant management forms, restaurant software, business plan templates, marketing & promotions to help grow your profit. Page Zero - Enlightened Search Marketing. - Google AdWords and paid search campaign management consulting & eBooks. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 |
More Articles:1. The Steps in Employee Development You may believe that your company is the only one in the free world that's suffering from poor employee communication and frustrations at every level; We can assure you that you're definitely not alone. But knowing that conflict and communication problems exist in practically every organization comes with little comfort. Are you getting the best out of your employees? If not then take steps to improve your organization by investing in an employee development program. Your employees are the only … Kitchen Lighting Designs 2. Personal Leadership: One Key to Growing Any Organization What did Winston Churchill, Lee Iacocca and Bill Gates have in common? Certainly they were great personal leaders who knew what they wanted and how to get it. However, they didn't succeed because they had great personal leadership qualities. They succeeded because they understood the importance of hiring managers who also possessed personal leadership skills. These leaders built an environment in which leadership qualities flourished in all employees. As each employee reached new heights of achi… 3. Making Your Workers Your Partners By Sam Vaknin, Ph.D. There is an inherent conflict between owners and managers of companies. The former want, for instance, to minimize costs - the latter to draw huge salaries as long as they are in power (who knows what will transpire tomorrow). For companies traded in the stock exchanges, the former wish to maximize the value of the stocks (short term), the latter might have a longer term view of things. In the USA, shareholders place emphasis on the appreciation of the stocks (the result of quarterly and annua… 4. Reduce Inventory Shrinkage - Put 2% of Your Annual Inventory Cost back in Your Pocket Using "Sticks" A previous article outlined the horrific costs associated with Inventory Shrinkage in the retail industry - approximately 4% of the total annual inventory costs. A good POS (Point of Sale) system can help cut this in half by helping to eliminate two of the major causes of Inventory Shrinkage - internal theft and 'messed up paperwork'. The last article dealt with the 'carrots' you can implement with a good Point of Sale system to reduce the internal theft component of Inventory Shrinkage. It cove… |
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