Innovation Management ? measuring failure! Business Articles | May 6 Rick Nash Bruins Jersey , 2005
one of the most important aspects of the above process is dealing with failure. This is important as most innovation attempts result in failure and many, many more ideas require reengineering, remodelling or rethinking before they can tread the path to success.


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 Tim Schaller Bruins Jersey , 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 Torey Krug Bruins Jersey , one of the most important aspects of the above process is dealing with failure. This is important as most innovation attempts result in failure and many, many more ideas require reengineering, remodelling or rethinking before they can tread the path to success.


There are a number of benefits of failure, including:


a) Valuable competencies are learned. Ridley Scott had a commercial failure with Blade Runner but went on to make some of the most successful films of all time.


b) Valuable customer needs are established. Often user needs are inadequately analysed but come into sharp focus when a product is in market and not selling.


c) Technical competencies are established. A firm may learn exactly what technical deficiencies it has when a product fails to materialise in the desired form.


d) Cultural or emotional obstacles may come into sharp focus. The metric system is not used in the USA but dominates throughout the rest of the world.


These topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation David Krejci Bruins Jersey , 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.


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.


How To Excel And Reach Success In Your Business Business Articles | February 13 Danton Heinen Bruins Jersey , 2009
Fine tuning your business to be success oriented need to understand where it is now, where it need to be at the end of a particular period of time and how it is going to get there. Such an evaluation will help you to understand your business better and create plans of actions for the business to excel.


To be able to climb the steep ladder of success, it is necessary to fine tune your business. Irrespective of the nature, type or size of your business you need to prepare and nurture it in a specific way to be ready for success.


Abraham Lincoln once stated 'while others were enjoying their sleep I was busily climbing the ladder of success'. He was referring to his phenomenal success 'from a log cabin to white house'. Like Lincoln you too can prepare Zdeno Chara Bruins Jersey , ahead of others, to take your business to the pinnacle of success. And the top of the ladder of success being never crowded on reaching the top it is easy to stay there and excel.


The groundwork to reach business excellence starts with finding answers to a few questions. The important questions are;


A. Where my business is now?


B. Where I want it to be?


C. And how I am going to get it there?


To probe what stage your business is now compare your business with the competing businesses. What is your business's market niche, the popularity, the size of customer base Brandon Carlo Bruins Jersey , current performance, turnover and profits are some of the comparable indicators. These indicators will help to indentify the current position of your business. For example if yours is a website business you can use indicators such as its search engine position, Google page rank, traffic status Riley Nash Bruins Jersey , incoming links etc to ascertain where your business is now.


Next step will be to evaluate the weaknesses and strengths of your business to understand it better. Then you can determine ways and means to convert the weaknesses to strengths. Business strengths will lead to opportunities.


This analysis will also reveal to you the threats to you business as well. A plan of action will help to deal with threats. Threats are challenges that test your strengths to the fullest.