Innovation and Enterprise: Idea Generation Essay (BMS409)

This essay explores the concept of idea generation within the context of innovation and enterprise. It begins by defining idea generation as a process of creating, developing, and communicating ideas, both abstract and concrete, and positions it as the initial stage of the idea management funnel. ...Read More

Innovation and
Enterprise

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Idea Generation...........................................................................................................................3
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Idea in business perspective refers to innovative and creative thinking of business owners
and professional which if becomes feasible offers value added results to the organisation in
profitable terms (Sang, 2020). Idea generation is a creative task which involves critical thinking
and analytical skills as well as appropriate opportunities to explore and integrate in the developed
idea. For the same an essay is presented underneath discussing different aspects of the statement
“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”.
MAIN BODY
Idea Generation
According to views of Owen. Hunnam, 2019, ideas are the keys which leads towards
innovation and development it adds fuel to thought of creativity. Idea generation is an act or a
task performed for improvements that will be leading to creation of something value adding for
the business and for the society as well. Thus, it is defined as a creative process that encompasses
the formulation, purification and communication of fresh thoughts which offers a base to ones
innovation thinking and company's creative approach of performing in their specific industry and
field of work (Li and Zhu, 2019).
Idea generation not just supports the firm development but in regards to the phenomena it
bring positive results for the professional business and the professional working in it on the
ideas. This is because, the experts who will be working over creativity and development of a
innovative idea to add value and grab the available opportunities will also be learning new things
and gaining fresh experiences. The professional make use of their critical thinking and analytical
skills as well as push themselves beyond their boundaries and comfort zone for coming up with
the most productive idea and profitable ideas. The process of idea generation is also known as or
referred as Ideation.
Generating a new idea for working and making improvement in company's operations is
a tedious job which has multiple aspects linked with several view points, dynamics and business
situations (Shao and et. al., 2020). Thus, in a way “Idea Generation is a procedure which
involved communicating, transferring and building of concrete ideas and showcasing the visual

thoughts in tangible manner on paper”. The idea generation process is not simple and easy to
perform it involves number of stages which can lead to lack of confidence and demotivation in
employee or professionals mindset as well as can lead to lowering morals of individuals. This is
because the process is time consuming and the probability of success is very low. The individual
makes so many efforts and walks on a blind endless path with a hope of reaching to a potential
outcome and a valuable new idea and the failure of their thoughts can influence their morals
mainly and their performances too (Hall and Williams, 2019).
The idea generation and management funnel which is also known as Innovation funnel
determines its first stage as idea collection and generation. According to this step new and fresh
ideas or problem solving items are identified for offering a string resolution to company and
restore its competitiveness. As well as, on this stage the ideas are developed and procured with
the motive of exploring a concrete opportunity or opportunities which exist in the external or
internal surroundings of business. Thus, idea generation process or the stage is in regards to
entities competitiveness, improvement and development considered as most crucial and potential
(Lokuge and Sedera, 2020). In relation to effectiveness of an idea it is critically addressed as a
turning point for a firm is the idea which was feasible and executed brings positive results and
adds value to existing resources, profitability, goodwill and revenues generation of the firm.
Thus, according to the stand taken about the acceptance of the statement that idea
generation is a process of translating the visuals in mind of the professional or an individual into
a strong profitable tool for the respective organisation they work in and for its aims or form
accomplishing personal agendas (Vézina, Selma and Malo, 2019).
CONCLUSION
The essay above stands in favour of the statement of Idea generation as it is summarised
that it is a productive process undertaken by entities professionals and individuals in order to
offer the best competitive tool or method for dealing with the changing environment and moving
towards innovation by considering all trends and grabbing opportunities presented.

REFERENCES
Books and Journals
Hall, C. M. and Williams, A. M., 2019. Tourism and innovation. Routledge.
Li, D. and Zhu, J., 2019. The role of environmental regulation and technological innovation in
the employment of manufacturing enterprises: Evidence from
China. Sustainability. 11(10). p.2982.
Lokuge, S. and Sedera, D., 2020. Enterprise systems lifecycle-wide innovation readiness. arXiv
preprint arXiv:2006.05089.
Sang, B., 2020. Innovation of enterprise technology alliance based on BP neural network. Neural
Computing and Applications, pp.1-14.
Shao, S. and et. al., 2020. Environmental regulation and enterprise innovation: A
review. Business Strategy and the Environment. 29(3). pp.1465-1478.
Vézina, M., Selma, M. B. and Malo, M. C., 2019. Exploring the social innovation process in a
large market based social enterprise. Management Decision.
Online:
Idea Generation: our favourite tried and tested techniques, 2019. [Online] Available Through:
<https://ideadrop.co/top-five-favourite-idea-generation-techniques/>