Innovative Success and Failure within Organisation

Innovative success and
failure within an
organisation

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Innovation refers to a new idea, imagination or a creative thought which is the form of a
process or method (McGuire and et. al., 2020). It is a better solution or a better way in order to
fulfil new requirements or needs, unarticulated needs as well as the needs which are already
existing in market. The following report talks about failures as well as successes of innovation in
an organisation.
MAIN BODY
“Idea generating is described as the process of creating, developing and communicating
abstract, concrete or a visual idea. 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.”
The following statement states that ideas are basically the key to innovation. It is due to ideas
that innovation can be brought in an organisation. It is dependent on a number of possible
solutions that one brings in (Franke and Lüthje, 2020). Although it is clear that ideas cannot
alone bring in innovation there is requirement of an already prepared systematic process in order
to manage all those ideas in an organisation. Idea generation is basically a process of creating,
developing as well as communicating abstract, concrete and visual ideas.