Business growth is fuelled by a steady flow of good ideas that are managed effectively.  Innovation management is the process through which ideas are exploited for commercial gain. 

It is essential that you choose the right sources for your new ideas.  Sources include staff, customers, suppliers and external experts as well as your existing products and services.  Surprise chance sales also offer fertile ground.  Knowing how customers actually use your products and services in reality is another fruitful source e.g. helicopter gun ships emerged when someone noticed that troops were attaching their own machine guns to the aircraft.

There are a number of issues to consider including:

• Policy and objectives: Is there a statement of intent to support the generation of new ideas for products, services and business processes?  Have specific areas been targeted for attention e.g. line extensions where additional features are added to existing products?
• Organisational culture: Is it innovation friendly or are new ideas killed off too quickly by people’s attitudes and beliefs?
• Delegation: Is the development and testing of ideas being handled by the best people in the organisation?
• Management: Is the planning, organisation, leadership and control of ideas generation and development producing the best results?
• Implementation: Do new ideas get to market on time and at the best time?

WLP has a good track record in assisting clients to devise and launch new ideas onto the market.  Your future sales and profit growth will emerge out of ideas and they need careful management.

.
For further information or a no obligation face to face discussion please contact WLP.