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. 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. Idea valuation techniques include: a) Comparing idea types b) Analysing fit with the firm c) Analysing practical impediments d) Deciding when to issue GO or KILL decisions when ideas are within the idea funnel However, what is often overlooked is in-depth analysis of user benefits. Ultimately, an idea is valued by user take-up. In a commercial world, it is valued even more severely by profit margin and shareholder / stakeholder benefits. Analysis of the buyer experience cycle and the utility layers is a start point. Along the buyer experience cycle, it is possible to measure benefit along at least six stages. These include: a) Purchase b) Delivery c) Use d) Supplements e) Maintenance f) Disposal Along the utility level, it is possible to measure user benefit along several more levels, including: a) (Collective) productivity b) Simplicity c) Convenience d) Risk e) Fun and Image f) Environmental g) Friendliness 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. 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. |
