Innovation and Enterprise: Idea Generation and Its Impact (BMS409)

This essay explores the significance of idea generation in the context of business innovation and enterprise, as outlined in the Foundation Degree in Business and Management (BMS409) curriculum. It begins with an introduction that defines idea generation as the creation, development, and communication of ideas. The discussion section delves into the pros and cons of idea generation, supported by academic literature and real-world examples. The evaluation section critically examines these arguments, assessing their relevance to contemporary organizational practices. The decision and justification section provides a reasoned stance on the arguments, explaining why one perspective is more compelling than the other. The conclusion summarizes the key arguments, the decision made, and the rationale behind it, reinforcing the importance of idea generation in fostering innovation, improving decision-making, and enhancing organizational profitability. The essay highlights how effective idea generation leads to increased efficiency, cost reduction, and employee engagement, and how this can be used to improve a business's return on investment. The essay is well-supported with references to academic journals and textbooks.

Innovation and
Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
Discussion........................................................................................................................................1
Evaluation........................................................................................................................................1
Decision and Justification................................................................................................................2
Conclusion.......................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Ideas are defined as key aspect for innovation and uniqueness, absence of this impact upon
process of continuous improvement. It has been identified that with generation and creation of
new ideas influence proved to be most efficient way to encourage creative knowledge (Bourke,
Roper and Love, 2020). Creating and developing new ideas effectively allow business
organisation to stay positively aligned towards changes and ensure more significant growth. It
has been evaluated that economy are mainly depend upon innovation in order to successfully
ensure development and growth. Thus, idea is crucial aspect that not only provides business
organisation an opportunity to create new technology to strengthen their economic days but also
enhance efficiency of individuals.
Discussion
Idea generation determined as a procedure that allows an organisation for better
development and communication. It has been identified that, ideas creation significantly lead
employees in an organisation to come up with feasible solution to overcome issues and problems
and undertake effective opportunities that develop a culture of innovation. In this organisation
can allow their employees to share with creative ideas through which decision making process
can become more effective (Brym, 2019). It significantly helps in promoting comfort and
openness to effectively share experience and information. Along with this it stimulate continuous
growth, development as well as innovative communication through which organisation can
ensure maximum profitability. Idea generation and creation proves to be a significant tool that
effectively leads entity to gain significant opportunities.
It has been identified that order to influence process of Idea creation, Research and
Development Department of an organisation are required to undertake Idea management as to
overcome problems in order to effectively emphasize upon new ideas and innovation. In this it
has been signified that value of these ideas can be invaluable (Zhao, 2020). In addition to this, it
has been identified that ideas creation lower down efficiency of decision making.
Evaluation
According to the above argument it has been identified that development and creation of
Idea offer significant benefit to organisation to increase the process of improvement. Along with
this Idea generation via employees can affect entity to facilitate creativity and uniqueness in
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their workplace structure (Dunn, 2020). It has been identified that large organisations like Tesco
allows their employees to engage in the process of decision making to facility their ideas through
which entity can fulfil their objectives with fresh talent, innovation and creative. After examining
above mentioned arguments idea stimulate innovation in organisation through which entities can
create solutions (O’Leary, 2020). Along with this it has been identified that it facilitate
employees within an organisation to undertake use of their imagination in an extensive manner to
fulfil desired outcomes.
Decision and Justification
Idea generation and creation allow organisation towards innovation through which they
can effectively able to reduce cost and can make increase in efficiency. In this organisation is
required to motivate employees with the help of Idea management which is a structured process
in which entity come up with different type of innovation in order to make significant
improvement in their existing services and products and further come up with new business ideas
(Knight and et. al., 2019). According to the above argument it has been identified that it is
essential for an organisation to facilitate generation and creation of Ideas to improve, as it proves
to be effective for organisation as it allow entity to undertake and utilise maximum creativity
efficiency and potential of their employees (Lin, Hao and Wang, 2020). It also aid organisation
to undertake innovation process in more effective way, through which they can reduce cost and
make significant increase in quality of their services and products, this effectively lead
organisation to ensure higher return on investment.
Conclusion
As per the above mentioned report it has been concluded that, idea generation and creation
significantly aid an organisation to increase their production efficiency at great extent. In
addition to this, it also allows entity to maximise their decision making efficiency as it stimulate
traditional and radical solutions. According to the above mentioned discussion it has been
determined that it is essential for an organisation to undertake advantage of idea generation and
creation as it facilitate maximum engagement of employees through which entity can effectively
utilize their skill, potential, knowledge and talent in a significant level in order to increase
organisational profitability.
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REFERENCES
Books and Journals
Bourke, J., Roper, S. and Love, J. H., 2020. Innovation in legal services: The practices that
influence ideation and codification activities. Journal of Business Research, 109, pp.132-
147.
Brym, R. J., 2019. The innovation of ideation and ideology: an analytical framework and
application to the cases of Sabbateanism and Zionism (Doctoral dissertation).
Gama, F., 2019. Managing collaborative ideation: the role of formal and informal appropriability
mechanisms. International Entrepreneurship and Management Journal, 15(1), pp.97-
118.
Knight, J. and et. al., 2019. Design Thinking for Innovation. Stress Testing Human Factors in
Ideation Sessions. The Design Journal, 22(sup1), pp.1929-1939.
Davis, C.H. and Comeau, J., 2020. Enterprise integration in business education: Design and
outcomes of a capstone ERP-based undergraduate e-business management
course. Journal of Information Systems Education, 15(3), p.8.
Zhao, Y., 2020, March. A Study on the Influence of Dual Innovation on Enterprise Innovation
Performance Under the Ecosystem of Enterprise Innovation. In 4th International
Conference on Culture, Education and Economic Development of Modern Society
(ICCESE 2020) (pp. 1421-1430). Atlantis Press.
O’Leary, D.E., 2020. Driving innovation using enterprise crowdsourcing. Journal of Information
Technology Teaching Cases, 10(1), pp.2-10.
Lin, R., Xie, Z., Hao, Y. and Wang, J., 2020. Improving high-tech enterprise innovation in big
data environment: a combinative view of internal and external governance. International
Journal of Information Management, 50, pp.575-585.
Dunn, H.S., 2020. Creative resilience and globalization from within: evolving constructs for
analysing culture, innovation, and enterprise in the global south. Annals of the
International Communication Association, 44(1), pp.4-18.
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