18 Feb 2008 04:33:57 | Kal Bishop
There is no sure fire route to commercial success but the
probability of success can be increased. This is important for
at least two reasons:
a)Resource Management. The Economist (2003) states that 3000
bright ideas result in 100 worthwhile projects, which are
winnowed down to four development programmes. And four such
development programmes are required to stand any chance of
getting one winner.
b)Time Management. Whilst it is often the case that sufficient
time is not taken to develop a product fully, there is always
time to go back and fix mistakes. The cost of product
re-engineering varies from the low to high billions.
There are a number of techniques that allow better problem
identification and idea generation (creativity) and better idea
selection, development and commercialisation (innovation).
Innovation strategies include:
a)Valuing ideas according to their type. Random ideas and those
resulting from solution spotting have the highest success rates.
b)Measuring strategic, technical and competency fits with the
organisation.
c)Measurement of ideas according to their impediments. A new
type of cell phone will be infinitely easier to produce than a
time machine. The Internet has a far lower take up in Africa
than in Europe because of infrastructure deficiencies.
d)Carefully selecting what criteria is used to allow or disallow
an idea at various stages of the development pipeline. Not
allowing an idea (or releasing it too early) may not give that
idea a chance to blossom. However, keeping it in the pipeline
takes away valuable resources that may allow another idea to
bloom.
e)Adequate consumer benefit analysis. Many ideas are simply
developed before focused, practical and appropriate end-user
needs are thought through.
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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About 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.
