Management Information |
Innovation Management - does the idea fit with the firm?
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted. One of the useful methods of valuing ideas is to analyse whether the firm, team or individual responsible for turning an idea into a commercial success has the required fit. Fit with the firm can be measured in a number of ways: a) Does the idea have a strategic fit with the company? It may be a great idea but if lacks strategic fit, its development and commercialisation may cause long term problems. In this case there are three choices: drop it, license it or create a joint venture. b) Does the firm have the technical expertise to make it work? If not where can it be found? What is the cost of importing the technical expertise? c) Does the organisation have the business competencies to make it work? These include competencies in marketing, new product development, the ability to manage widely diverse and scattered employees and facilities. Again, is the idea big enough to justify the expense? 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. You can also receive a regular, free newsletter by entering your email address at this site. 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. Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com.
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
RELATED ARTICLES
Looking through the Glass Ceiling - Women in Management Women have made tremendous contributions to society at every level; consider Joan of Arc, Golda Meier, Indira Gandi, Condalezza Rice.In writing this article my attention is to open the eyes of small business and no way patronise female mangement or give offence. Communication Mix-Up My friend Delia is the owner of a small private school. This spring her school is experiencing the crunch of reduced enrollment for next September and all staff have been asked to take a six percent salary decrease. To Outsource or Not to Outsource In these days of restricted head count and tight budgets, the question of whether to outsource or hire in-house staff is more critical than ever. The technical publications function, however vital, is undergoing more scrutiny and also facing greater challenges than ever before. Have You Fixed the Broken Window? Left alone it doesn't take long for a building with a single broken window to rapidly become a building with many broken windows. Fixing problems when they are small will prevent them from developing into larger problems. Stopping The Brain Drain: How To Capture Key Business Knowledge Before It Walks Out The Door The verdict is in: More and more baby boomers will be leaving the workplace sooner, rather than later. Many industries are predicting that between 25 and 45% of their more senior employees will soon be departing their organizations. Invite Self-Managed Staff "Treat people as if they were what they ought to be, and you help them to become what they are capable of being." -GoetheTwo hundred years ago, Johann Wolfgang Goethe, German poet and philosopher, knew how to inspire and interact with others: recognize the best in them and act upon those positive expectations. Make Them GLAD Youre Their Boss Criticism has the power to do good when there is something that must be destroyed, dissolved or reduced, but it is capable only of harm when there is something to be built. --Carl JungPeople won't leave if they're glad you're their boss. Project Management 101 Project management is a very important business concept because it is in place to ensure that projects are completed in a timely fashion as well as to the best of the company's ability. Project Management is basically the discipline of making goals and reaching those goals. People - You Cant Make Them What Theyre Not Many business people and managers are spending too much time trying to change the underperforming people who work for them. They seem to believe that if they train people - tell them what to do or even threaten them with the sack - then the performance level will go up. An Honest Look at Your Business There is a difference between being comfortable and being in apathy.It is very comfortable to have a smooth running organization when you have a team that knows what to do and does it. Lawyers With 2 Hands And Everything Else I heard this back a few years ago. The boss yelled, "Get me a good lawyer but not the one with two hands!""Huh?" secretary was puzzled. How to Hold Effective Staff Meetings Many people believe that they conduct effective meetings, when all they really do is host a party. Or worse, they deliver a monologue. Creativity and Innovation Management: The Value Of Due Diligence Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are other useful definitions, for example, creativity can be measured according to the number of ideas produced, the diversity of those ideas and the novelty of those ideas. Creative and Innovative Culture, Change Management - Three Easy Tests Creativity can be defined as problem identification and idea generation and innovation can be defined as idea selection, development and commercialisation. From this simple definition, it is clear that certain cultural characteristics ought to be prevalent if creativity and innovation are to be maximised. Resistance - How to Handle It Do you ever meet with resistance from other people - I betyou do! It might be a customer, a colleague, a member ofyour team or even someone in your personal life. Dealingwith resistance or objections is one of the biggestchallenges faced by business people; so let's consider whywe get resistance and how we can handle it. A Winning Way to Handle New Ideas Janet DiClaudio, who was charge of medical records at two large American hospitals, had an unusual problem. But, the past master in finding creative solutions to work related problems that she was, she found an equally unusual solution. The Higher You Go The higher you go, the cooler it becomes. Really? Let us begin from first principles. Guidelines For Conducting A Good Meeting Okay, so you've figured out what kind of meeting is needed, you've planned well and you have all the right materials. How about the meeting itself? How can you be sure the meeting you've so carefully planned and prepared actually comes off as expected?The checklist below can help you through the process. Are You the Culprit? Are you a business, non-profit or association manager who pretty much ignores your organization's important outside audiences?If that's you, do you realize how difficult you're making it to achieve the important behavior changes you really need and want? I mean changes that lead directly to achieving your department, division or subsidiary's objectives?I'm talking about achieving new levels of membership applications; growing the repeat purchase rate; capital givers looking your way; attracting new prospects; expanding the list of organizations officially specifying your service and products; or suppliers newly motivated to meet your strict quality and delivery requirements.Start operating in your own best interest by taking a closer look at the public relations work underway on behalf of your unit. Narcissism in the Boardroom The perpetrators of the recent spate of financial frauds in the USA acted with callous disregard for both their employees and shareholders - not to mention other stakeholders. Psychologists have often remote-diagnosed them as "malignant, pathological narcissists". |
home | site map | contact us |