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Innovative Form of Business Debt Management Saves Thousands
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Creativity and Innovation Management- Turning Ideas into Action
The phrase “turning ideas into action” is a Russian doll.
Managing the ideas to implementation process is important for at least two reasons:
a)To make effective use of resources – investing in one idea uses resources that could be applied to another idea. Yet all ideas do not have the same likelihood of success.
b)To prevent re-engineering. There is often not enough time to properly develop and commercialise a product but there always seems to be time to go back and fix it. It has been estimated that the cost of re-engineering ranges from the low to high billions every year.
Effective idea to implementation involves a number of disciplines:
a)Effective idea selection – the first stage of innovation. Innovation can be defined as idea selection, development and commercialisation (as opposed to creativity, which can be defined as problem identification and idea generation).
b)Effective idea development – which involves a second tier of competencies. Where effective idea selection may be management, sales and end-user focused, idea development also requires technicians, designers and the like.
c)Effective idea commercialisation – which involves yet a third tier of competencies.
Each of the above can further be drilled to improve effectiveness. For example, idea
Associated Websites
selection can involve:
a)Selecting ideas according to type. Some idea types have a higher probability of success than others.
b)Selecting ideas according to strategic, competency and technical fit.
c)Selecting ideas according to practical impediments.
d)Selecting ideas at various stages of the idea funnel.
e)Selecting ideas according to end-user benefit.
There is much more to this….
These and other 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
Kal Bishop, MBA
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You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.
About the Author
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.
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