Creativity and Innovation essay part 4
Creativity and Innovation essay part 3
First, experts in relevant fields must be needed. Since the ideas are often with high technology and applied in specific field. If the ideas are aimed to create something new and sometimes even bring comprehensive cross-industry, the knowledge domain of experts must be clear. Second, the individual difference affects the judging (Caroff & Maud, 2008). Pursuing customer’ the biggest satisfaction is the goal of the company and customers are the end user of the products, so customer experience has a decisive influence in the success or failure of the product. It is necessary to choose a few loyal users to evaluate the idea of research and development. The experts are related with R&D and customers are related with the market. Third, communication mechanism between assessment team and innovation team is important during the assessment process. The explanation of problems is sometimes not simple and direct, good communication will help.
“ALUS”, SWOT analysis, Pro’s and Con’s of the idea, plus minus interesting all can be used to assess ideas. And they have a series of criteria in common. The evaluation on six aspects is mainly considered, including technical aspect, production aspect, market aspect, management aspect, policy aspect and the economic aspect.
For the technical aspect: whether difficult and not mature technology is used in the process from the research and development process. Because technology can make the product difficult to produce no matter how much better the idea is. For the production aspect: since the research and development is always separate, viable products in the laboratory may not be feasible in the workshop. The laboratory produces the conceptual model, which cannot be used in practice, but the workshop produces the product model, which can be used in practice. For the market aspect: the final product will all be received by the market, the market has an automatic screening mechanism of the products and the screening criteria are quality, feature, price and so on. Also, there are many competitors in the market, the comparison with competitors’ product is necessary, and it is about the positioning of the new product. For the management aspect: the whole management and decision about the innovation is on the manager. Senior managers who have the corresponding knowledge system can more likely make the right decision. For the policy aspect: to get knowledge about the government’s policy of related or similar products, and how the policy will affect the product production and earnings and so on. These are all needed to be considered. For the economic aspect: whether the whole social economic operation is in good condition, whether the market has enough capacity to consume enough products that make the company take back the investment and get profit.
After the feasibility analysis period, a few ideas will remain in the ideas pool. And after the next period, only the really good idea is remain. In such a way, idea pools will help to resolve possible problems that may arise in the course of the development of the new product, APP. The company should use the feasibility analysis to test whether the idea and vision of the new product is plausible or not. Only after the affirmative conclusion of such analysis, the company should start the en mass production of the new application.
The assessment of ideas feasibility is mainly from the qualitative angle, is subjective judgment based on the reality. In the last stage of the idea selection, using the quantitative analysis methods, such as NPV, ROI to select the best idea. The prediction for the costs and benefits is needed using quantitative analysis and it requires good ability of market analysis for the company.
Conclusion
In such a way, the development of the new product depends on the idea factory consistently. The development and introduction of the new product should start with and be grounded on the idea factory. The idea factory is the milestone of the development and introduction of the new product. First of all, the development of the new product should start with brainstorming in terms of the idea factory to generate ideas concerning possible products the company can create. After that the company identifies the most prospective ones. The choice of the new product should involve the short-term and long-term prospects of the development and introduction of the new product. In fact, the new product can be introduced successfully with the help of the idea factory. The idea factory helps shape the vision of the new application and suggest possible recommendations on the implementation of the new product and its further marketing. The marketing of the new product should also involve the use of the idea factory. Therefore, the idea factory comprises the core of the development and introduction of the new product. At this point, it is worth mentioning the fact that the new product can be successful only when the idea factory conducts the detailed analysis of the business environment, the potential of the product and other important factors that may affect the quality and effectiveness of the new product.
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