What is an idea management process?

Having an idea is just the beginning. Proper idea management is crucial to transforming ideas into profitable innovations. This involves generating, capturing, and evaluating ideas to determine which ones should be developed further. Idea management can occur in a structured environment where concepts are prioritized, discussed, and approved, leading to creative thinking and insights not otherwise obtained. Effective idea management encourages employees to actively participate in their company's development, increasing job satisfaction and success. This article explores the types of idea management programs and the obstacles they face, as well as the importance of feedback and evaluation, incentives, and the 7 stages of the idea management process.