Essay on Idea Generation in Innovation and Enterprise (LO1)

This essay delves into the critical process of idea generation within the realms of innovation and enterprise. It explores the definition of idea generation, highlighting its role in developing new thoughts, innovations, and solutions to existing problems. The essay references academic sources to support the argument that idea generation is essential for continuous improvement and organizational growth. It discusses the importance of a supportive managerial environment to foster a culture of innovation, as well as various tools and techniques for generating ideas, such as brainstorming and mind mapping. The essay also addresses the potential challenges and the importance of evaluating ideas and considering their feasibility. Ultimately, the essay concludes that idea generation is a vital process for individual and organizational success, enabling problem-solving, innovation, and the creation of value.

Innovation
and Enterprise

Contents
TASK-LO1......................................................................................................................................1
Discussion of quote in form of essay...........................................................................................1
REFERENCES................................................................................................................................3

TASK-LO1
Discussion of quote in form of essay
Idea generation can be defined as the process of developing new ideas and in this there is a
development of new thoughts and ideas. Through generating ideas various new innovations can
be implemented. Developing new ways can also assist in bringing out new solutions for solving
current problems. It is a process through which new solutions can be evaluated and also this can
be used in all fields.
The above mentioned statement has provided the details that generation of ideas is one of
the most essential component that can be used in management concept and can assist an
individual and organisation to continuously enhance and improve the current procedures used by
them. Various innovations can also be implemented because of generation of new ideas and
ways to do a particular thing. Idea generation basically helps in developing a culture of
innovation and for this managers needs to be really supportive. Managers needs to support their
employees so that better culture can be implemented. This is really important for the growth of
organisation.
As per the view of Keum and See, (2017) idea generation can be defined as the process of
creating, developing and communicating abstract. Creative tools can be given to employees so
that they can generate better ideas which can assist in bringing better opportunities to them. Idea
management funnel can be used to evaluate and analyse ideas. Pros of idea generation is that It
brings out possible solution to existing problems and also can assist in bringing out better
opportunities of growth. Ideas can be taken as first step towards success. New opportunities can
be created through innovation by which employees can be provided with better surroundings and
culture. There are various tools and techniques that can be used for generation of ideas like brain
storming, mind mapping. It has also been analysed that before setting up an idea, challenges
related to same also needs to be evaluated. The goal of structured idea generation is a feasible
concept like it assists in development of new product and also innovative business models. Idea
can also be generated with the help of role playing, managers needs to embrace views of their
employees. Yes, generation of new ideas can bring out solution to existing problems and also it
can assist in continuously improving the present process (Rominger and et.al., 2018). This is
because by generating new ideas more innovations can be brought and this can be first step
towards improvement. It has also been analysed that through creative thinking ideas can be
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inspired and these ideas can inspire change. Cons related to this statement is that it increases
competition and also there are chances that ideas implemented by firm can also fail.
Generation of ideas assist in improvising current process by bringing out solution to various
problems and issues. It also helps in achieving the set target and objectives. Implementing new
ways can also help in meeting out expectations of consumers by bringing out something better
and innovative (Hao and et.al., 2016). Problems can be solved by considering how feasible the
idea is. Various tools and techniques can be used for generating ideas and overcoming
challenges. Now a day’s role playing is also considered as one of the best suitable way for
bringing out new ways of doing something better. For generating ideas creativity is also
important. An entrepreneur for developing ideas needs to evaluate opportunities as it is the front
part of idea management funnel and through this better solution can be brought out (Markman,
2016).
From the above study it can be summarised that idea generation is a critical process, one
needs to be creative. This has assisted in bringing out new ways and also solutions to problems
can be brought through process. It has also been analysed that generating new ideas can assist
individual in growing and grabbing success. New has been created through innovation by which
employees can be provided with better surroundings and culture. More innovative the idea, better
value of company can be created. Ideas assist in problem solving
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REFERENCES
Books and Journals
Hao, N. and et.al., 2016. Reflection enhances creativity: Beneficial effects of idea evaluation on
idea generation. Brain and cognition.103.pp.30-37.
Keum, D.D. and See, K.E., 2017. The influence of hierarchy on idea generation and selection in
the innovation process. Organization Science.28(4).pp.653-669.
Markman, A.B. ed., 2016. Open innovation: Academic and practical perspectives on the journey
from idea to market. Oxford University Press.
Rominger, C. and et.al., 2018. The creative brain in the figural domain: Distinct patterns of EEG
alpha power during idea generation and idea elaboration. Neuropsychologia.118.pp.13-
19.
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