Idea Management is the process of receiving ideas from people to be able to improve business. The ideas usually come either from customers or from employees. But Idea Management is not only receiving ideas. It is the whole process of receiving, prioritizing and implementing ideas.
Innovation is the key to success in every sphere of business. In today’s world of cut-throat competition, enterprises need to innovate regularly to stay ahead of their competitors. However, innovative ideas and creative thoughts may not be everyone’s cup of tea.
The best way to get creative and innovative ideas are from the customers and employees. It is essential to develop growth as a service mindset. Customer surveys, feedback and open innovation forums and crowdsourcing competitions, have the capacity for idea generation. The solutions lie in engaging creative consumers, because unlike common consumers who are good at telling brands what they need, and what problems they face; creative consumers are good at creating innovative solutions.
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The ideas which are brainstormed by the employees or the participants are developed into pilot projects and prototypes. Irrespective of the ideas generated, to successfully implement these ideas requires a good idea management system which will help develop new product through the stages of idea generation, idea screening, development and testing.