Key Points

•    Most companies have a pretty clear process for introducing new products into the marketplace with these steps: idea identification, concept generation, project evaluation, product development, and launch.

•    Most organizations do not employ an organized process to develop and bring to fruition new ideas. Yet there are many quick ways to do fast prototyping and ideation.

•    Management needs a way to develop and capture new ideas so that the organization always has a pipeline of ideas.

•    The process of innovation contains both divergent (developing many new ideas) and convergent (deciding which are worthwhile) aspects.



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