Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted. One area of note in the commercialisation phase is the Hype Cycle. The Hype Cycle is one model that helps measure, monitor, benchmark and predict the reaction to an innovation. This is important as innovations, by their very nature, raise expectations, sometimes to unrealistic levels. A good example is the Internet boom where traffic supposedly doubled every hundred days. According to the Gartner group, there are five stages to the Hype Cycle: a) Technology trigger. The breakthrough that leads to the innovation. b) The rapid climb that results from hype, PR and high expectations. c) The equally rapid descent as high expectations are not met. d) A gradual climb of expectations as people realise that the innovation has benefits. e) The plateau (that declines over the long term) as the innovation becomes mainstream. These topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com. You can also receive a regular, free newsletter by entering your email address at this site. You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained. |
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