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19 Aug 09

Great Ideas Aren't Innovation

Ideas Don't Equal Innovation" and I can prove it...It is my hope that today's post will serve to help dispel the myth that ideas are inherently good things. Let me state right from the outset that I place little value on ideas. Not only do raw ideas have little intrinsic value, but they are often very costly. While I stipulate to the fact that ideas can sometimes lead to great things, I also submit that it is more frequently the case that ideas lead to disappointment and disaster

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ideas ideasmanagement innovations strategy decisionmaking competitiveadvantage

The idea should be generated within a solid framework for decisioning. It should be developed as a solution to a problem or to exploit an opportunity. The idea should be in alignment with the overall vision and mission of the enterprise.
Adopting a new idea should be based upon solid business logic that drives corresponding financial engineering and modeling. Be careful of high level, pie-in-the-sky projections.
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- Ideas need to be incorporated into strategic initiatives and not constitute disparate systems. They should be incorporated into integrated solutions that eliminate redundancies, and build in tactical leverage points.