• Most companies have a pretty clear process for introducing new products into the marketplace with these steps: idea identification, concept generation, project evaluation, product development, and launch.
• Most organizations do not employ an organized process to develop and bring to fruition new ideas. Yet there are many quick ways to do fast prototyping and ideation.
• Management needs a way to develop and capture new ideas so that the organization always has a pipeline of ideas.
• The process of innovation contains both divergent (developing many new ideas) and convergent (deciding which are worthwhile) aspects.
How effective are your innovation practices?
Evaluate your organization by rating each question from 1 (Hardly ever) to 5 (Almost always). Calculate the average of your answers and rate your score:
1-2.5: lnnovation…WHAT?
2.5-4: Getting there…
4-5: We have a well-oiled machine
• Everyone in my organization understands the new product development cycle and executes it well.
• Everyone in my organization is encouraged to develop ideas through methodical ideation sessions.
• My organization has an organized system for developing and capturing new ideas.
• My organization has processes in place to reduce the time it takes to bringing new products and services into the marketplace.
• Most employees here feel free to question assumptions about how we do business.
• Innovation is the job of all employees through in place processes rather than just a couple of scientists or product developers.
How do you rate?