Idea generation is the core concept of innovation, and for most companies, generating ideas is not a problem; managing them is. To address this challenge, the Sciforma Idea Management feature provides the tools to store, evaluate, and analyze Ideas, so that the appropriate ones can be nurtured, developed, and, hopefully, end up being the basis for a successful project, product, or program.
Ideas can come from many different places. While in more traditional environments only the ideas coming from the top management were taken into account, product-driven businesses have come to realize that ideas can be relevant at any level of the production process. However, oral communication is not enough to ensure that everyone at the decision-making level is aware of all the ideas generated.
For this reason, a tool for storing ideas, available for all kinds of users, is important in stimulating innovation.
Depending on the company, it is possible to encounter many idea types. Here are a few examples:
Product Ideas – Lead to new products, usually similar to current ones, but with features that fit a new market, resulting in increased price differentiation and competitiveness.
Application Ideas – Lead to the discovery of new markets to sell an existing product to, thus increasing sales potential.
Enhancement Ideas – Help to grow sales.
Line Extension Ideas – Launch a new line of a product, similar enough to the current one so that the company’s expertise will be acknowledged.
Disruptive Ideas – Provide a new market where no competitors currently exist.
Process Ideas – Improve the process or the operations for reducing costs, increasing margins, or speeding up production.
Marketing Ideas – Expand the customer base; improve brand perception and customer loyalty.
Experiential Ideas – Respond to implicit or explicit customer feedback.
Once ideas are approved, developing a Business case is an essential step that is often ignored or given less attention. Effective decision-making with proper analysis using Business cases can help a company validate a concept and determine whether it aligns with the corporate strategy.