An Analysis of the Idea Management Funnel in Innovation and Enterprise

This essay delves into the intertwined concepts of innovation and enterprise, emphasizing the critical role of the idea management funnel. It defines innovation as the development of new ideas and enterprise as a project undertaken to achieve specific goals. The essay explores the idea management funnel, which encompasses idea generation, capture, analysis, sharing, discussion, and evaluation, and differentiates it from the innovation process. It details the stages of the idea management funnel, including setting goals, ideation strategies, motivation, collaboration, evaluation, implementation, reward, and review. The essay further examines the factors that affect idea management within an enterprise, such as technology, employees, resources, and organizational structure. By using these skills, the essay is carried out with appropriate considerations. The conclusion stresses the importance of a systematic approach to achieve positive outcomes in innovation, idea management, and enterprise.

Innovation and
Enterprise

Table of Contents
INTRODUCTION................................................................................................................................3
MAIN BODY.......................................................................................................................................3
TASK ...................................................................................................................................................3
Discuss the concept of idea management funnel with innovation and analyse problems &
opportunities associated with it. ......................................................................................................3
CONCLUSION....................................................................................................................................5
REFERENCES.....................................................................................................................................6
Books & Journal:.............................................................................................................................6

INTRODUCTION
Innovation and enterprise both are essential which are essential to be focused by an
individual. Innovation is defined as process of developing something new by use of new ideas or
thoughts. Enterprise refers to a project undertaken by individual to achieve goals and objectives.
(Squicciarini, 2017). This essay comprises of concept of innovation & enterprise & steps involves
in both concept. It also involves idea management funnel.
MAIN BODY
TASK
Discuss the concept of idea management funnel with innovation and analyse problems &
opportunities associated with it.
Ideas are essential for both enterprise and innovation. Idea management funnel is defined as
process of generation, capturing, analysing, sharing & discussing and evaluating of thinking or
thoughts engaged with a process. Both idea management and innovation are different from each
other because innovation is process of developing something new whereas idea management is part
of that activity (Lessem, 2016). It is important to be generate new ideas so that process is carried out
in most efficient manner.

In this process of idea management various of types of stages are involved in which first aspect is
of to set goals in which it depicts the goals of idea what and why the idea is needed to be adopted.
By analysing these goals/ objectives, it is easy to achieve new schemes in correct way. Then second
stage is to discuss ideation strategies in which it shows that to achieve goals strategy is required
to be implemented & discussed. Then third aspect is create motivation to ideate in which it states
people who are involved during process are motivated to work on idea over time. Further, fourth
stage is to encourage collaboration which reflects that by mutual cooperation and collaboration,
strong ideas & thoughts are easily developed (Gerlach, 2017). This results in achieving of better
output or results. Further, fifth aspect is to evaluate the ideas in which it depicts the impact of those
thoughts which are measured by using various matrices. Then at sixth stage is implementation
which reflects the actual course of action to real world or process. In this it also involves testing
analysis, consultant from expert etc. In seventh aspect is reward & recognize which depicts the
appraisal and reward of process giving to those people who have worked on idea management
process. In this, whole tea m is being given reward & appraisals for their handwork/ time. At last
one review, iterate & learn which reflects the revising of whole process of idea management so
that in future new learning is being done at appropriate level (Benbya, 2018).
In enterprise, there are many factors which affects the process of idea management which
are discussed as follows- Technology is most important factor which is needed to be considered
which affects the idea management process as because of this factor change in technology leads to
occurrence of many problems or issues which can results in enterprise. Then, employee are also
component which impact upon process because they resist for new change in organisation & that
can leads to issues at workplace. Resources are also the factors creating problem for idea
management process because to achieve goals of ideas ample number of resources are required &
which is difficult to acquire at affordable prices with good quality. Organisational structure
affects process too as it is difficult to match up the ideas with & run process according to firm
structure (Fullwood, 2017). In this essay various skills have been used which are innovation
thinking skills which is used to understand the essay and gain information about concept, then other
is communication skills is also used for properly discussing & sharing of ideas then at last time
management as well as market awareness skills were analysed which were used to examine the
impact of market changes and completing the essay on time on given deadline. Hence,through use
these skills & abilities essay is being carried out with appropriate considerations.

CONCLUSION
After brief analysis of above discussed essay, it is examined that innovation, idea
management, and enterprise are linked with each other. So, in presented essay discussions have
been made about idea management process, innovation, enterprise, and factors affecting idea
management in enterprise. Thus, is important carry out the process in systematic procedure so that
goals are achieved properly. Therefore, it is essential to manage all processes in systematic
procedure for accomplishing of positive results.

REFERENCES
Books & Journal:
Squicciarini, 2017. Entrepreneurship, innovation and enterprise dynamics.Small Business
Economics,48(2), pp.273-278.
Lessem, 2016.Integral research and innovation: Transforming enterprise and society. CRC Press.
Gerlach, 2017. Idea management revisited: A review of the literature and guide for
implementation.International Journal of Innovation Studies,1(2), pp.144-161.
Benbya, 2018. How Allianz UK Used an Idea Management Platform to Harness Employee
Innovation.MIS Quarterly Executive,17(2).
Fullwood, 2017. An investigation of factors affecting knowledge sharing amongst UK
academics.Journal of Knowledge Management.
Karasneh, 2019. Factors affecting knowledge sharing in special education—AJ ordanian
study.Knowledge and Process Management,26(1), pp.41-50.
(Squicciarini, 2017)(Lessem, 2016)(Gerlach, 2017)(Benbya, 2018)(Fullwood, 2017)(Karasneh,
2019)