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Informative Articles

Creativity and Innovation Management – Personality Testing
Whilst tests measuring the creative or innovative personality exist, there are a number of inherent flaws. Some are noted below: a) Whether a creative or innovative type exists at all is highly contentious. Creativity can be defined as...

Creativity, Innovation - Teach, Coach, Learn
Coaching, training or learning about creativity and innovation involves mastery of at least 12 domains. These include: a) Creativity and Innovation differences and definitions. Often used interchangeably, they ought to be considered...

Innovation Management – Capturing Ideas
All too often idea generation is a conscious process. Leaders will herd people into a room with a flip chart, conduct a “brainstorming” session and state a problem (without deeper analysis) and ask for ideas. However, this shows a fundamental...

Secret Business Strategies of Bill Gates and Jeff Bezos
"We're trying to build something lasting." - Jeff Bezos, Amazon.com founder "In all of our activities, we take a long-term view." - Bill Gates, Microsoft Corporation founder Vision, innovation, wisdon and hard work are but four of...

Term Life Insurance Vs Permanent
Ever since the idea of term life insurance came to the mind of man term life insurance vs permanent has been the center of active and thought provoking debate. Term insurance is without question cheaper than permanent life insurance but...

 
Innovation Management – Measuring Failure!

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.

However, one of the most important aspects of the above process is dealing with failure. This is important as most innovation attempts result in failure and many, many more ideas require reengineering, remodelling or rethinking before they can tread the path to success.

There are a number of benefits of failure, including:

a) Valuable competencies are learned. Ridley Scott had a commercial failure with Blade Runner but went on to make some of the most successful films of all time.

b) Valuable customer needs are established. Often user needs are inadequately analysed but come into sharp focus when a product is in market and not selling.

c) Technical competencies are established. A firm may learn exactly what technical

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deficiencies it has when a product fails to materialise in the desired form.

d) Cultural or emotional obstacles may come into sharp focus. The metric system is not used in the USA but dominates throughout the rest of the world.

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


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.

Source: www.isnare.com