| |
| |
|
Management Information |
|
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. 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. The Value of Duel Diligence One consideration innovators should be wary of in the rush to market is to not forego due diligence. That is, the temptation to forego, among other things, investigation into an idea's feasibility, adequate market analysis and the questioning of the dominant assumptions. Due diligence is important for a number of reasons, including: a) There may be no time before a product is rushed to market but time always seems to be available when faults are discovered. The cost of retracing steps and reengineering products runs into the billions. b) Most innovations fail. And one of the major reasons for failure is the lack of a focused product that solves particular problems. c) Group-think and other negatives cause bad decision-making and consequently unrealistic expectations. Clasic examples include the Segway Human Transporter and the Internet boom of 2000. 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. 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 MBA, 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
30 Ways to be a Butt-Head Boss 1. Trust no one. Building Trust in Your Business Relationships - 10 Steps There are some simple things you can do with your people to ensure that they start to trust you. As a letter from Mike Emmott of the Chartered Institute of Personnel and Development in the UK says, in April 2005's UK Management Today says:-"Our surveys show that only one in four employees trust senior management to look after their interests"Is that not appalling? How on earth can businesses develop, survive and above all hang onto their best people if they are seen to be untrustworthy?It's horrible. Uncommon Common Sense - Know What is the Most Important Thing in Your Business Over 3 of my meetings with 3 business owners last week, what really shocked me was how uncommon common sense was. 2 out of 3 I spoke to do not know what is the most important thing in their business. 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. Innovation Management - Time to Market or Time to Success? 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 in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas. Motivation - It Starts with Acknowledgement Acknowledgement is about recognition or attention fromanother person. It can be physical such as - a pat on theback, a touch or a handshake. The Rise of Corporate Chair Massages Employers have rapidly begun to understand the importance of stress relief in the workplace. Stress free employees have a higher retention rate and higher rates of productivity. Overcoming Perfectionism Perfectionism can get in the way of building or marketing a successful business. It can prevent us from moving ahead quickly or from taking advantage of business opportunities. Collections Management How long does it take your customers, clients or patients to pay you for the products or services you have provided?Have you developed a consistent collection management program?Your answer to the above questions is a leading indicator as to how well you collection management is. Sending an invoice doesn't always result in payment. 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. Juggling Demands in an Organization JUGGLING DEMANDS: All leaders constantly juggle a multifarious array of demands from those of their organization, employees, and themselves. Good leaders, never drop one demand at the expense of another equally important requirement. Hiring for Success Hiring someone new to work in your business is one of the most critical decisions a business owner makes, although it is not always given the justice it deserves. If a position is vacant, or additional staff are needed, recruitment decisions are often driven by the pressure to get someone in quickly, rather than waiting for the best person to fill the job. 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. Hiring Productive Employees: A Checklist for Assessing Their Appeal The characteristics of job applicants have a strong influence on whether or not they get hired. Their characteristics also indicate the level of their productivity. Lack of Operations Manuals Stunting Your Growth? Lack of Operations Manuals stunting your growth?CONTENTS:1. Do you lack functional Operations Manuals?2. Leaders Versus Cheerleaders Everyone wants to describe themselves as a leader. Everyday, new books on leadership come out on the market. What Every Manager Should Know About How to Reduce the High Cost of Employee Absenteeism Employers pay a high price for absenteeism, often more than they may realize, in terms of both financial and production losses and employee morale. Managers may view the tasks of finding a substitute employee as a short-term inconvenience; however, absenteeism frequently has more serious long-term effects. Inspirational Power ( Part 1 ) The Fundamentals of Strategic Marketing, Some Key Traits for Greater EffectivenessProbably, the greatest challenge to marketing management in the next five Years will be to change quick and fast enough, in order to keep pace with new technologies, new markets and new corporate valuesAccording to the definition of the AMA, "Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. "Customer focus has nowadays become a cliché among marketers keen to win competitive advantage. Safety Policy Sample Outline Writing a safety manual is a tough job and most larger corporations outsource such jobs or they have someone on staff with the proper credentials in risk management. Imagine writing the safety manuals for NASA? I had the opportunity to be in the unique position of being able to imagine just such a thing when writing our company safety manuals. Problem-Solving Success Tip: Measure Measure.The first key question to answer in starting a problem-solving project is, "How will you know when the problem is solved?" Answer this question in measurable terms before you start trying to solve the problem.
|
| home | site map | contact us |