Innovation Management ? Famous Failures!

Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.

There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.

However, commercial success is not the only measure of success. One other method of gauging success is the effect on culture and the market ? is it significant or not? Examples include:

a) Napster ? so successful it went bust. It influenced Kazaa, whose founders went on to start Skype ? free international telephone calls for everyone. Forced Telecoms companies to realise that their future revenues will not come from fixed line income but content delivery.

b) Concorde ? technically superior. Elegant. World famous. Bust.

c) Xerox invented the mouse and graphical user interface. But they didn't invest in its potential.

d) The big Studios didn't see the potential of toy licensing before Star Wars. They learned a big lesson.

e) New Coke. Please don't mess with out cultural icon.

These topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com.

You can also receive a regular, free newsletter by entering your email address at this site.

Kal Bishop, MBA

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.

Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com.

Creativity and Innovation Management ? Decision Makers

Creativity can be defined as problem identification and idea generation... Read More

What Dreams Will Come!

As the pioneers of aviation took to the air (not... Read More

Its A Quantum Thing

We don't need to understand quantum physics entirely in order... Read More

Managing Creativity and Innovation, Part 1 of 2

Leaders, consultants and managers must be competent in at least... Read More

Befriend Your Budget, This Yuletide and Always

It is that time of year again. Yuletide?Christmas in the... Read More

Innovation Management ? Capturing Ideas

Creativity can be defined as problem identification and idea generation... Read More

A New Pair of Shoes

Do the NewAn old pair of shoesDo you have a... Read More

Is Mans Next Step Like A Can of Potted Meat?

Is it the dawning of the Age of Aquarius? For... Read More

Humankinds Greatest Inventions

There are a number of amazing inventions that have been... Read More

How to Turn Nothing Into Something

Excerpted from the Jim Rohn Weekend Seminar-Excelling in the New... Read More