Business Innovation ? the Best Ideas

Home
>
Innovation
>
Business Innovation ? the Best Ideas

Business Innovation ? the Best Ideas

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.

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 Best ideas

Some ideas are better than others. No doubt about it. But some types of ideas are also better than others:

a) Franklin (2003) writes that the ideas with the most likelihood of success are random events ? but where the creator has previous knowledge. The creator just happens to come across a problem that he is able to solve.

b) The second most successful type of idea is solution spotting. Where the creator has knowledge and consciously looks for a problem to apply that knowledge to. Thus laser technology was put to good use to invent CD's.

c) The third most successful type of idea resulted from market research. Where creators went out to identify problems and then search out solutions.

The above idea types fit very well for innovators searching for finance. The most often statement heard from venture capitalists is: what problem does it solve?

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/

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/

In The News:

TIME
Is Innovation Dead — Or Doing Just Fine, Thank You?
TIME
But Facebook isn't the only concern of the innovation-worriers. In the Washington Post, tech writer Joshua Topolsky takes a look at the latest batch of allegedly cutting-edge smart phones and finds them all distressingly same-y.

SOLVAY OPENS A MAJOR INNOVATION CENTRE IN INDIA
Reuters
Brussels and Savli, 25 May 2012, at 7:30 am SOLVAY OPENS A MAJOR INNOVATION CENTRE IN INDIA New Research, Development and Technology Centre to focus on high-performance polymers, organic chemistry, nano composites and green chemistry Solvay is today ...

and more »

CompuCom Is Honored By SkillSoft and Industry Leaders for Innovation in Learning
MarketWatch (press release)
DALLAS, May 25, 2012 (BUSINESS WIRE) -- CompuCom Systems, Inc. has been awarded a 2012 SkillSoft Perspectives Innovation in Learning Honorable Mention Award for Inspiring Leadership Development. Along with twelve others, CompuCom was honored at the ...

and more »

NutraIngredients-usa.com
Senate Passes FDA Safety And Innovation Act
Sacramento Bee
By Consumers Union WASHINGTON, May 24, 2012 /PRNewswire-USNewswire/ -- The Senate approved the Food and Drug Administration Safety and Innovation Act today. While the legislation includes some improvements over current law, it leaves significant flaws ...
Alexander Says FDA Safety And Innovation Act Affects Every American FamilyThe Chattanoogan
US Senate Adds Synthetic Substance 2C-E to Bill That Could Ban Synthetic DrugsNorthland's NewsCenter
Senate passes FDA reauthorizationThe Hill (blog)

all 276 news articles »

Post Online
Innovation Group's New Version of Insurer Conversion Enhances Capability of ...
MarketWatch (press release)
FARMINGTON, CT, May 24, 2012 (MARKETWIRE via COMTEX) -- The Innovation Group plc (Innovation Group), a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries, today released a new ...
Innovation Group Releases New Insurer ConversionInsurance Networking News
INNOVATION GROUP PLC : - US Contract Win4-traders
Innovation Group profits from insurancePost Online

all 10 news articles »

CarteNav Solutions Inc. Awarded Atlantic Innovation Funding (AIF)
San Francisco Chronicle (press release)
Halifax, NS (PRWEB) May 24, 2012 ACOA's Atlantic Innovation Fund (AIF) is an initiative through which the Government of Canada is making strategic investments aimed at increasing Atlantic Canada's innovation capacity. This program is highly-competitive ...

and more »

Philadelphia Inquirer (blog)
Cable Must Step Up Innovation, says Comcast and Time Warner
Philadelphia Inquirer (blog)
While the media focused on the new Wi-Fi hotspot roaming agreement announced this week at The Cable Show, there was lots more innovation popping up at the Boston trade event - new platforms, apps and services. And in panel discussions, chief technology ...

and more »

Globe and Mail
Canadian innovations get to market faster
Globe and Mail
A stronger emphasis on development by governments and research-funding organizations may be helping Canadian entrepreneurs get their innovations to market faster. But experts say a stubborn innovation gap remains, particularly in life sciences.

Vivaldi Partners Group Sponsoring World Innovation Forum
San Francisco Chronicle (press release)
Global Brand and Innovation Strategy Consulting Firm Kicking Off WIF with Workshop New York, NY (PRWEB) May 24, 2012 Vivaldi Partners Group (www.vivaldipartners.com/) will kick off the World Innovation Forum on June 20th with a sponsored workshop on ...

and more »

TripleTree Announces the 2012 iAwards Winners
MarketWatch (press release)
Four finalists in three different categories, Operational Innovation, Clinical Innovation and Consumer Innovation, had been previously announced on April 25. The twelve finalists were AwarePoint, Centene, Consult-a-Doctor, CureMD, eviti, Fitlinxx, ...

and more »

Google News