Managing Ideas An Organizations Greatest Asset
There is no way to create wealth without ideas
. Newcomers create most new ideas. So anyone who thinks the world is safe for an incumbent is dead wrong. Gary Hamel, chairman, Strategos
Ideas can indeed be quite invigorating, whether they are good ideas or bad ones, they invoke strong passions. If anyone suffers from the false impression that ideas are too elusive to matter ought to think again. They make all the difference as they create the stage on which all of us perform. Research shows that no good idea that changes the world is regarded as one at its outset. Ideas need to be looked upon as long term investments that will provide returns in the long run.
One of the best examples that come to mind when one thinks of an innovative idea is Skype. When the idea was seeded, it was thought to be a crazy idea, but it revolutionized telephony and is one of the most successful ventures. Jurvetson of Draper Fisher Jurvetson (DFJ), a Venture Capital firm, backed it despite disagreement among partners, and sold it to eBay Inc. for more than $4 billion. Skype has changed hands and is now owned by Microsoft that paid a whopping $ 8 Billion for it.
Having an innovative idea is not always enough, one has to implement and make it a success. This needs a lot of patience, hard work and determination. If you look at iPhone, with 50,000 applications, the phone can be turned into anything that you want. Creative application developers are earning millions from selling applications.
Levi Strauss sold denim pants to miners during the Gold Rush. They never thought that denim pants would be very popular even outside of the mining community.
According to Harvey Firestone, the US tire pioneer, In business, capital isn't so important, nor is experience, because you can get both of these. What is important, is ideas. If you have ideas, you have the main asset you need. What is remarkable about ideas, too, is that they multiply, and because of this, there isn't any limit to what you can do with your business and your life.
Another invention that has become a hit is the Burqini that combines a burqa that Muslim women wear and a swimsuit. Who ever thought that a conservative Muslim woman could swim!
When it comes to innovation, businesses today are not looking only at R&D departments to contribute new ideas; they are sourcing ideas from their employees, customers, and partners to help drive the organization forward.
According to Gallup's research engaged employees are far more likely to suggest or develop creative ways to improve management or business processes and find creative ways to solve customer problems or to involve their customers in creating service innovations.
Most great ideas for enhancing corporate growth and profits come from the people who daily meet companys challenges, who serve the customers, explore new markets and fend off the competition.
Thus organizations that want to drive growth through innovation should make
idea management a part of their organizational growth strategy. Idea management tools can help businesses keep ahead of the competition. It can bring valuable benefits such as; new products and services, process improvement, improved collaboration, enhanced brand value and best of all identify hidden talent and new ideas of growth.
by: Gladeyas
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