Identifying creative ideas is a great way to grow your business. Using innovation contests and other activities, your organization can and develop a culture of creativity that generates plenty of creative ideas. These creative ideas can be developed into innovations that provide considerable value to the business.
However, creating a list of innovative ideas is not enough. You must take action!
Here are several ways to start taking action:
1. Evaluate the ideas on your list. Get a group of people from different parts of your business (different job functions) and review the ideas submitted. Perform a cost-benefit analysis on the most promising ideas. Initially, look for ideas that can be implemented quickly and are likely to produce a significant result to the bottom line. Read the rest of this entry »