Innovation Management ? Measuring Failure!

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, 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, 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.com.

You can also receive a regular, free newsletter by entering your email address at this site.

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.

Kal Bishop MBA is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Updated-Information-Regarding-Auction-Preferred/story.aspx%3Fguid%3D%257B869464BD-34F0-4889-BC11-666C196B5457%257Dcid=1276628257ei=QoU0SaefK6Xg6gONz9SQDwusg=AFQjCNHbVrA4J19AtAp113WUsh-mjYCcTAUpdated Information Regarding Auction Preferred Securities Market b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr3 hours ago/nobr/fontbrfont size=-1BOSTON, Dec 01, 2008 (BUSINESS WIRE) -- MFS Investment bManagement/b(R) (MFS) today announced the availability of information on the results of the weekly b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ibtimes.com/prnews/20081201/pa-lincoln-fin-snrmng.htmcid=1276637418ei=QoU0SaefK6Xg6gONz9SQDwusg=AFQjCNEwVsVSQhDmm7g1miH6GmojeRfEUwLincoln Financial Group Announces New Senior bManagement/b Committee b.../b/abrfont size=-1font color=#6f6f6fInternational Business Times,nbsp;NYnbsp;-/font nobr4 hours ago/nobr/fontbrfont size=-1She will also serve as amember of the firm#39;s Senior bManagement/b Committee. Bettinger-Buckingham joins Lincoln Financial with more than 20 years ofexperience b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Gideon-Technologies-CEO-To-Give/story.aspx%3Fguid%3D%257B7F21B780-4CB3-4A33-B667-724B0AF4324B%257Dcid=1276605793ei=QoU0SaefK6Xg6gONz9SQDwusg=AFQjCNHaaaTTBxcfIcCG7y-vJnkKuqOxzAGideon Technologies CEO To Give Unified Compliance bManagement/b b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1Unified Compliance bManagement/b simplifies this complex problem. quot;The combination of a holistic centralized view of the network, unified and continuous b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Research-Markets-Training-Management-Maturity/story.aspx%3Fguid%3D%257B7D6818E5-8250-4A6D-B555-A9CD4D5EA73A%257Dcid=1276579789ei=QoU0SaefK6Xg6gONz9SQDwusg=AFQjCNFPWer7tJIvQ-YiMVR9ZLg50CqmZwResearch and Markets: Training bManagement/b Maturity Model: A b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr8 hours ago/nobr/fontbrfont size=-1How effective is your current training bmanagement/b system? What do you need to do to improve it? Find out with this best practice model and set of assessment b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Research-Markets-Fundamentals-Quality-Control/story.aspx%3Fguid%3D%257B179937E7-E40D-4AED-8F23-F04BD5B29EC0%257Dcid=1276579789ei=QoU0SaefK6Xg6gONz9SQDwusg=AFQjCNGVPBotq0deTe5cQnMl87d7ZBmvdAResearch and Markets: Fundamentals of Quality Control and b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276579789hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table
management - Google News


Wind Chimes and more...

Windchimes for great gifts!

No Time to Focus on the Big Picture? Try Focus Management

E-mail, voicemail, "got a minute?" interruptions, multiple projects... Read More

Entitlement Programs Kill Productivity

In articles I've written over the years, I have used... Read More

5 Tips For Creating Great Jobs

1) Create A Powerful "Mission Statement"-When your business mission is... Read More

Innovation Management ? Flexibility

Creativity can be defined as problem identification and idea generation... Read More

Know Your Business! - 7 Key Questions You Must Ask

You need to know all that is going on around... Read More

Difficult Staff - It Pays To Get To Know Them Better

It's very easy for a business owner or manager to... Read More

What Makes A Good Media Story?

Media relations can be difficult, but also rewarding. And the... Read More

Time Management - How to Have Productive Meetings

One of the greatest time wasters of all are unnecessary... Read More

The Three-category Approach to Performance Management: Effort, Ability, or Environment

Performance Management is the act of managing personal or organizational... Read More

Business Relationship Germs

In management seminars I often compare debt to an infection.... Read More

Spinning Gold from Straw: Low-Cost Employee Retention and Motivation Tools in a Changing Economy

New York, NY, February 25, 2005 ? Employee retention and... Read More

Stop Going to Meetings - 10 Questions to Ask Before Attending a Meeting - Get More Productive

We get invited to attend so many "meetings" but do... Read More

Computer Consulting Profit Secrets

Do you own or manage a computer consulting company? Are... Read More

Innovation Management: The Quality and Quantity of the Idea Pool

Creativity can be defined as problem identification and idea generation... Read More

Is A Bad Attitude Permanent

Today there is great weight put on a person's attitude.... Read More

Real Costs in Distribution and What it Means To Your Company

Ever feel that all the lawyers in thh Country need... Read More

Retaining An Expert -- What Every Business Owner Needs To Know

As an entrepreneur, hiring an expert can be one of... Read More

Innovation Management ? Diversity Can Make All The Difference

Companies are welcoming a diverse range of employees (The Sunday... Read More

Identifying Candidates for Leadership

A critical task in the succession planning process of any... Read More

Never Wrestle with a PIG

The business books at the library and book stores fill... Read More

Are You At The Mercy Of Computer Geeks?

Many business owners are sabotaging their business without even realizing... Read More

HRM: Contributing to Well-being or Ill-being at Work?

If you were to take the people out of an... Read More

Stopping The Brain Drain: How To Capture Key Business Knowledge Before It Walks Out The Door

The verdict is in: More and more baby boomers will... Read More

How To Use Outsourcing To Beat Your Competition

Outsourcing is when you hire outside professionals or services to... Read More

Questions To Ask Employees You Want To Retain

Times of cost cutting and downsizing has dramatically impacted the... Read More