Business Innovation ? the Best Ideas

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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/

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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.

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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