Simply defined, ideas are generally thoughts or conceptions existing in one's mind that have the capability of becoming something tangible. In today's business culture, the terms idea generation and innovation are often used interchangeably. Michael Schrage (2004) suggests a difference exists in the two terms with innovation driven primarily by what customers, clients, and people adopt. In the article, more importance is placed on innovation versus ideas. More specifically, Michael Schrage asserts nothing is more important than innovation that has a global reach or impact. Thomas Koulopoulus (2010) states ideas are the seeds of innovation but they are not innovation. Additionally, according to Brett Richards (2003), innovation is simply the transforming of an idea into an action or something tangible for others to use.
For a business to continue to remain successful, it must have a culture of innovation that not only brings about new ideas but also works toward establishing a client base to adopt them which by definition, is the diffusion of innovation. Idea generation remains crucial to the beginning of any new product but as many companies can attest, the adoption of these ideas by the public base is paramount to the profitability of the idea formed. As an example, Hansen and Birkinshaw (2007) present a unique look at two companies who were attempting to confront innovation challenges.
Intuit and Proctor & Gamble were both battling unique opportunities in the area of ideas and innovation. According to Hansen & Birkinshaw (2007), “Idea generation wasn't the problem, however. The company (Proctor & Gamble) had inadequate screening and funding processes: Concepts never flourished, nor did they die. The brainstorming sessions actually aggravated the innovation process – employees were pumping more and more ideas into an already badly broken system.” The illness experienced by the company was not one of lacking idea generation, but lacking the adoption of these ideas by the customer base.
[...] Koulopoulus, T. (2010). How to Kill an Idea in 10 Easy Steps. Journal For Quality & Participation, 32(4) Richards, B. (2003). INTELLIGENT INNOVATION: IDEAS INTO ACTION. Journal For Quality & Participation,26(2) Schrage, M. (December 2004). Innovation Diffusion. [...]
[...] Today's Driving Force: Ideas versus Innovation What is Today's Driving Force: Ideas or Innovation? Simply defined, ideas are generally thoughts or conceptions existing in one's mind that have the capability of becoming something tangible. In today's business culture, the terms idea generation and innovation are often used interchangeably. Michael Schrage (2004) suggests a difference exists in the two terms with innovation driven primarily by what customers, clients, and people adopt. In the article, more importance is placed on innovation versus ideas. [...]
[...] Ideas and innovation will remain inextricably intertwined, but as the marketplace continues to mature and evolve, companies must implement a culture of innovation to take ideas and make them profitable to the company by being adopted by the consumer base. Consistent redefinition of the product/idea development process must continue as consumers become more and more informed. “Companies can't just import the latest fads in innovation to cure what's ailing them. Instead, they need to consider their existing processes for creating innovations, pinpoint their unique challenges, and develop ways to address them” (Hansen & Birkinshaw 122) References Hansen, M. T., & Birkinshaw, J. (2007). The Innovation Value Chain. Harvard Business Review, 121-130. [...]
[...] At this moment, the diffusion of innovation takes flight. Ideas can be readily turned into tangible products or actions made by consumers at the suggestions of their reference base through the use of another work of innovation, technology. Perhaps unlike any other period of man to date, the fermentation of ideas into a movement or influx of profitability for a company is attained through smaller, more concentrated efforts by the marketing minds behind the thoughts or products. Many companies have created ideas and failed miserably at attempting to take them to market. [...]
APA Style reference
For your bibliographyOnline reading
with our online readerContent validated
by our reading committee
