3 Steps to Drive Effective Idea Management

Effective idea management is crucial to innovation management and supports generating new value by identifying opportunities for growth and improving performance through innovation. Gartner defines it as a structured process to generate, capture, discuss, improve, organize, evaluate, and prioritize valuable insight or alternative thinking that would not have emerged through normal processes. ITONICS expands on this definition and emphasizes the three fundamental pillars of effective idea management: Definition, Ideation, and Value Realization. Definition outlines the requirements, action plan, and control indicators of the idea management process. Ideation encourages participants to submit and elaborate on their ideas. Value Realization enriches and grows ideas and transfers those that are most promising into valuable new applications. Organizations can successfully implement effective idea management by following best practice principles and operational support.