If the company does not have enough resources to pursue all the ideas, then there needs to be a method of selecting the best ones for further development. This method needs to be one that will optimise the likelihood of selecting the right ideas, i.e. the ones that will be the most successful for the company.
Often this is done by evaluating the ideas against a number of criteria such as:-
- Strategic Alignment
- Market Attractiveness
- Product Differentiation
- Marketing Risk
- Technical Risk
- Potential Return on Investment
- Potential Investment Cost
Then the ones with the best score move on to the next stage
We can help you with your innovation process by facilitating sessions with your staff to develop or improve your process, or assist with any stage of the process.
For more information contact us