There is a ‘dirty little secret’ about innovation management for new product development: Ideas and insights do NOT create projects. When an insight is delivered, there is a lot of work to get it to a stage where it is ready to even be considered for a project.
Innovation Management systems really just capture ideas in ‘fragments’ which are part of a much larger idea or theme of ideas. In the real world Innovation Management enables top ideas to be edited, repackaged and resubmitted for executives to validate and manage the ideas.
If you have come from a product development background, you will be aware that not all the best ideas, insights and innovations are NOT targeted at products or services. Many of the best ideas and insights help with organisational structure, strategy, channels, partners and many other areas of the business. None of these areas are thought about in a typical Product Development Lifecycle.
Innovation Management enables businesses to capture more qualitative feedback about the business from customers, employees and partners and puts these insights into a context where they provide invaluable feedback about the organisation
HunchBuzz Innovation Management will play an important role in any organisations that wants to evolve and grow.