Innovation and Enterprise

Innovation and
Enterprise

Table of Contents
“Idea generation is described as the process of creating, developing and communicating abstract,
concrete or visual ideas. It’s the front end part of the idea management funnel and it focuses on
coming up with possible solutions to perceived or actual problems and opportunities.”................1
Essay................................................................................................................................................1
References........................................................................................................................................4

“Idea generation is described as the process of creating, developing and
communicating abstract, concrete or visual ideas. It’s the front end part of
the idea management funnel and it focuses on coming up with possible
solutions to perceived or actual problems and opportunities.”
Essay
Idea is considered as key towards innovation, in case if there is absence of idea then there
will be nothing that can be implemented. The reason behind this is that execution is taken as
essential asset to learning as well as necessity for new ideas for having central improvisations
(Brym, 2019). According to statement, idea is initial step that is involved within devising
improvisations. With reference to company, it might be said that generating as well as collecting
idea through employees is effectual way for uncovering tactics along with creative knowledge.
The capability and development of new ideas aids business entity within staying relevant and
implement affirmative alterations within organisation. Irrespective of firm’s objectives and goals,
primary intent for having new idea is to have improvements in the way operations are being
conducted. Economy is dependent on innovation through which growth along with development
can be derived in. Innovation leads to create new ventures and technologies that render wide
range of employment opportunities to folks. Thus, innovation is not only about idea but both
these terms bind each other.
Various tools and techniques are there that are being utilised by organisation to generate
ideas. They are illustrated in this section, idea challenge implies a form of innovation in which
issues or opportunity is raised for having creative elucidation. The rationale behind this is that it
will lead to participation within generation and ideation of ideas that involves pre defined themes
for peculiar time frame. Goals have to be clearly defined but there are some challenges, problem
and solution centric (Bourke, Roper and Love, 2020). The attainment of outcome with respect to
idea challenge needs to be ensured by making use of parameters like themes, time, channel, etc.
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