Part 5. Product Innovation and Management
Published Online: 15 DEC 2010
Copyright © 2011 John Wiley & Sons, Ltd. All rights reserved.
Wiley International Encyclopedia of Marketing
How to Cite
Baumgartner, J. 2010. Idea Management. Wiley International Encyclopedia of Marketing. 5.
- Published Online: 15 DEC 2010
Although suggestion schemes have been around for hundreds of years, idea management is still relatively new. Idea management is a structured business process for capturing focused business ideas from employees of a company, or any other group, and evaluating those ideas to identify the most promising ones. The approach is typically based around established creative problem solving (CPS) methodology, which allows managers to focus suggestions on actual business needs. The idea management process is typically facilitated by an enterprise software application with a front end for the submission of ideas and a back end where those ideas are evaluated by experts. This system is normally web based and all actions are performed via a web browser. However, software alone is not sufficient for a successful idea management initiative. An innovation manager or team needs to promote the system to colleagues, provide incentives for participation, and oversee the review and implementation of ideas. Likewise, top management buy-in ensures better results. The purpose of any idea management initiative should be the profitable implementation of ideas generated by the system.
- suggestion box;
- idea management;
- organizational innovation