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Summary: How to deal with ideas in the innovation process

by on January 23, 2010

In the contemporary economical crisis, many companies continue to invest in their innovative capabilities and try to survive from the competing market. In order to survive in the competition, innovation process paves the road for the organization to thrive continuously. And generate new and aggressive ideas should be the central step of innovation. These ideas can be gained both outside and inside the company. And this paper will also talk about the open innovation and getting important information from user aspects. Finally, the creative ideas should be evaluated properly to fit the company’s context and goals.

This paper includes cases like Aetna bought Active Health Management to gain ideas externally, BT (formerly British Telecom), long the leading phone company in Britain,  created a process for placing its homegrown technologies and intellectual property in external hands, which is an example for open innovation, and companies like Dell and Wal-Mart built online platform to gather ideas from end users.

Finally, the paper discusses there will be some drawbacks of the open innovation model, because bunch of the wild ideas flowed into the open platform and professional analyze these innovative ideas will be a tough job. A balance of putting energy on finding best new ideas or on applying some good ideas should be settled.

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