Idea AssessmentMay 7, 2019
Idea assessment is the process of screening the ideas which have passed the refinement stage for further decision making in the innovation process.
Magnusson et al. (2014), in their study they explained that being the first in the market really does matter for a company working on new product development; increasing the pace of a development process will have a significant effect and plays a vital role in ensuring that a company is first to market. One of the approaches in the ideas assessment process which is the holistic intuitive decision making; which is less resource dependent; can be viable for a company running with limited time available for the decision making rather than dealing with the rational approach which will demand more time.
In their study Magnusson et al. (2014); it is also emphasized that, three factors needed to be given much attention while evaluating new products; the market factors which mainly focuses on profitability issues, the technology factors are those which include innovativeness and perceived value and the last but not least is that of the organization factors which relates to the internal capability of turning the idea in to sellable product.
Other criterion described in their study which are worth mentioning while discussing about idea screening process are: Originality; which deals with novelty and innovativeness; this is essential because the value of a company is decided by the future potential of its offerings and the ability to come up with innovative ideas is relevant. User value; which represents whether the implemented service idea will create value for the user/customer or not. Producibility; this criterion is regarding the ease with which the service can easily be implemented and produced.
John Netz, in his discussion about idea assessment, explained two major reasons for idea filtration; first, a lot of ideas might be generated BUT all ideas are not good and need to be filtered to come up to the best ideas. Second, Organizations may not have all the resources to develop every single idea that is proposed.
It is also described that there are two main approaches to idea screening; System one as an intuitive or holistic approach and system two as a rational or analytic reasoning. The main reason lying for the importance of screening is that, the decision we make on this stage will have a great consequence in the later step in the innovation process.
The main factors among the ones mentioned as a criterion to assess the ideas submitted in this module which really attract my attention are; the value of the ideas with regard to the benefit they can draw after implementation and the producibility so that societies at large can be protected from the challenges of fake news.