Innovation Management ? Time to Market or Time 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 other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.

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.

Time to market or time to success?

Even today Innovation Consultancies trumpet their ability to increase time to market as opposed to time to success:

a) It is always possible to increase time to market ? one way is by not carrying out proper due diligence and thus increasing the likelihood of failure.

b) Whilst there is never enough time available before pushing a product onto the market, there is always enough time to revisit what went wrong and fix problems. The cost of reengineering runs into the billions.

c) Speed and cost are considerations but good decision-making should be priorities.

d) Quick time to market does not guarantee profit. A strategy of time to profit makes more business sense.

These and other 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.

Kal Bishop, MBA

**********************************

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 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/

---

Crisis Management Essentials - How to Communicate Effectively During a Crisis, Emergency or Disaster

A crisis, emergency or disaster can happen at anytime and... Read More

Creativity and Innovation Management: Goal Setting

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

An Original Perspective on Waging Conflict as a Way to Promote and Restore Self-dignity

Conflict is a fact of life for all of us,... Read More

How to Get Your Procedures Project Done

Wouldn't it be nice for business owners and executives to... Read More

Being a Great Boss

Are you one of those bosses that people just love... Read More

Knowing versus Doing - Execution In The Workplace

Have you ever worked with someone who always seemed to... Read More

Creativity Management and Behaviour

What behaviour maximises the chances of thinking of great ideas?... Read More

Marketing Miracle: Outsource Your Creative Services

The current economy is causing most companies to tighten their... Read More

Sarbanes-Oxley and Section 404: Old Dog, New Teeth

The failures we have seen in the quality and integrity... Read More

Tales from the Corporate Frontlines: The Responsibility for Job Security

This article relates to the Job Security competency, commonly evaluated... Read More

I Said Pareto Chart? Not Potato Chart!

Does this sound familiar? You were hired for the new... Read More

Dissenion Down On The Cubicle Farm

How content and satisfied are American employees? Not very!According to... Read More

Leadership Skills Means Turnover is Not a Problem

"Ha!" you say. "For someone to make a statement like... Read More

Improving Patient Sensitivity in Doctors and Hospital Staff

COMPANY/ORGANIZATIONA South Florida hospital. The CEO of the hospital saw... Read More

Top 5 Services Your Company?s Accounting Department Should Outsource

Accounting is one area which every company has to maintain... Read More

Invoice Factoring for Goverment Vendors

Assignment of Claims Act of 1986"....What does this mean for... Read More

Optimizing Your Cash Flow With Proper Accounts Receivable Management

Businesses miss on growth opportunities and even close their doors... Read More

The Death Spiral

Sometimes things just happen. Maybe we lose focus and take... Read More

Reflections in the Glass Ceiling

The recent news about one of America's most powerful woman... Read More

Top Ten Tips About People Management

To get the best results you have to be very... Read More

Project Management - I Want It ALL

The knee-jerk response to prioritizing requirements is to mark everything... Read More

Guidelines For Conducting A Good Meeting

Okay, so you've figured out what kind of meeting is... Read More

Are You Using the Right Form of Energy?

As we near the end of summer, here is a... Read More

Managing Meetings

Plan/prepare - lack of purpose causes aimless meetings. Know why... Read More

Delegation Obstructions

OBSTRUCTIONS: 1. Staff deficiencies. Lack of confidence in employees quite... Read More

How to do SWOT Analysis for your Business

SWOT analysis is needed for all business to understand how... Read More

How to Beat the Turf Mentality

Want to hear a fascinating story? Let's sit in at... Read More

Innovation Management and Brainstorming Management ? why people hate to brainstorm!

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

Executive ESP: A Pathway to Success!

We all have psychic abilities that we use daily, although... Read More

Are You in AWE of Your Employees?

Employers have become so concerned about seeming "unfair" or worse... Read More

Top 10 Things NOT To Tell Angel and VC Investors

I am not writing this to create a list of... Read More

Character: Is It Necessary In Leadership? (Part One)

We know character when we see it, but what exactly... Read More

Blame Culture Blues - How the Language of Blame Manifests Organisational Underperformance

If you have ever worked within a large organisation then... Read More