Innovation Management ? measuring failure! Business Articles | May 6 Christian James Jersey , 2005 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.
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 Chris Giles Jersey , 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 C.J. Cole Jersey , 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 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.
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