What fosters innovation in a business?
There isn’t a single driver but a number of common themes. Senior leadership supporting innovation, allocation of funding and time, and having the right people to generate that innovation are the keys. How important is it to share ideas? The more ideas are shared, the more they foster other ideas. One idea may not be good but two ideas together might be very powerful. IT is important in sharing ideas because of Web-based systems and central repositories for ideas and idea data banks. It’s also a way of storing knowledge within an organisation. For example, [greetings card maker] Hallmark takes an idea and tries to pulse it by running it past 20 other people. The point is to see whether the initial idea comes back bigger and better. What are the pitfalls between a product’s conception and its market debut? The first is the lack of an effective filter system along the development process can leave you with junk in and junk out. The second is an internally created problem of product teams
