People often confuse good management with a good idea that makes management look good.
However, a good idea must be put into action. This requires hard work, processes, procedures and a structure to make it all happen.
Unfortunately, there's a lot of "idea people" but a scarcity of "innovators." Organizations need people who can take a good idea and convert it into operating reality.
There's really no shortage of creativity or of creative people in business institutions. Brainstorming sessions are, indeed, exciting, liberating and valuable.
Almost anybody can produce good ideas in an encouraging environment. The scarce people are those who have the experience, know-how and staying power to assemble, organize and coordinate all the elements required to produce innovation
Innovation is a crucial component of business strategy, but the process of innovation may seem difficult to manage. To plan organizational initiatives around innovation or to bolster innovation requires a firm grasp of the innovation process
Where do innovations come from? Ideas. Where do ideas come from? Often ideas come from insights, from those cherished moments of clarity when new experiences, challenges, observations or questions click, and you say to yourself, "Oh, I get it! Eureka! What if we ….?" Although the terms are often used interchangeably, insights, ideas and innovations are different. Clearly defining them clearly helps explain the differences and, thus, work more effectively.
Insights often come about as the result of individual effort; ideas are generally developed, and even sometimes improved, in groups. Innovation is generally an organizational outcome – the sheer complexity of today's technologies and markets means that many people must be engaged in transforming ideas into marketable products and services.
Today's organizations depend upon innovations for their survival. Only innovators will survive in the ever-globalizing market. "Innovate or die" is a genuine proposition as well as a worn cliché. Are companies organized to innovate? In fact, it seems that the majority are organized to not innovate.
The idea should be generated within a solid framework for decisioning. It should be developed as a solution to a problem or to exploit an opportunity. The idea should be in alignment with the overall vision and mission of the enterprise.
Any new idea should preferably add value to existing initiatives, and if not, it should show a significant enough return on investment to justify the dilutive effect of not keeping the main thing the main thing.
Just because an idea sounds good doesn’t mean it is You should endeavor to validate proof of concept based upon detailed, credible research.
Nothing is without risk, and when you think something is without risk, that is when you’re most likely to end-up in trouble.
Adopting a new idea should be based upon solid business logic that drives corresponding financial engineering and modeling. Be careful of high level, pie-in-the-sky projections.
Any new ideas should contain accountability provisions. Every task should be assigned and managed according to a plan and in the light of day.
Any new ideas being adopted must lead to measurable objectives. Deliverables, benchmarks, deadlines, and success metrics must be incorporated into the plan.
It must be detailed and deliverable on a schedule. The initiative should have a beginning, middle and end.
Ideas need to be incorporated into strategic initiatives and not constitute disparate systems. They should be incorporated into integrated solutions that eliminate redundancies, and build in tactical leverage points.
Ideas should contain a road-map for versioning and evolution that is in alignment with other strategic initiatives and the overall corporate mission.
A successful idea cannot remain in a strategic planning state. It must be actionable through tactical implementation.
Senior leadership must champion any new idea being adopted. If someone at the C-suite level is against the new idea, it will likely die on the cutting-room floor.