Creating an Ideas Factory

February 13th, 2013 | Posted by John Kapeleris in Ideas | Innovation

Ideas FactoryMany people come up with ideas on a daily basis. However, they don’t capture the ideas in a written or electronic journal and the ideas soon dissipate.

The process of generating, capturing and implementing ideas is the basis of innovation. Ideas can solve problems within organisations but can also generate opportunities for new products and services, innovative business models and organisational systems, and novel marketing concepts. Ideas also help organisations keep an eye on the future by anticipating future trends and technologies and applying these ideas to deliver the needs and wants of the future.

The concept of an “ideas factory” can be implemented within an organisation to capture the wealth of ideas generated by individuals but also ideas that come from customers and other external sources. Some of these external sources could include the internet, publications, competitors and suppliers.

How do you create and implement an ideas factory within your organisation? Following are some of the key steps in creating and implementing an ideas factory within your organisation:

  1. Create a culture that supports and encourages the continuous generation and flow of ideas. The continuous flow and capture of new ideas provides organizations with a source of new products and services, product improvements, and novel processes that contribute to the organization’s survival and growth. Creativity is therefore an important key driver of innovation by providing new ideas and new ways to solve organizational problems.
  2. Develop a well defined ideas management process – Generating, Capturing, Processing, Evaluating, Implementing and Measuring Outcomes. Organizations need to adopt a formal ideas management process to capture, develop, evaluate, protect and implement ideas and suggestions, which form the foundation of new opportunities that satisfy needs and wants in the market.
  3. Provide the skills and tools for employees to develop competencies. Harnessing the creativity of the workforce forms a critical component of an innovative culture. Professional development of employees should include skills development in creativity tools and techniques. Furthermore,  creating an environment that encourages participation, learning and fun allows new ideas to be generated and improvements implemented.
  4. Evaluate the ideas using a set of pre-defined criteria – impact, strategic fit, value, cost, risk, timeframe etc. In evaluating ideas an initial feasibility should include a preliminary market, technical and risk assessment to determine the viability of the opportunity. It should also include an intellectual property search to determine whether someone else has already patented the idea, and to confirm that you have the freedom to operate.
  5. Implement the ideas to solve a problem, capitalise on an opportunity or transform your organisation. One of the most difficult steps is the implementation phase. Implementation requires the development of a project plan and then the execution of the plan through action. A typical implementation process may involve:
    • clarifying the objective,
    • developing the plan,
    • identifying key processes and tasks,
    • prioritizing activities,
    • resourcing and budgeting,
    • funding,
    • assigning responsibility, and then
    • doing it!

An ideas factory will require top-down management support, in addition to committed and disciplined champions who can drive the processes and methodology. Collaboration will also be an important element in the ideas factory. Champions can also make a significant contribution to the implementation stage.

Dr John Kapeleris

 

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