Organizational innovation requires far more than coming up with new, creative ideas. The hardest part is often evaluating those new, creative ideas to predict which are most likely to be successful. Unfortunately, many companies do not have a process or method to review potential innovations; as a result, they risk either missing the highest potential ideas or pursuing projects that will end up wasting time and money.
Three Innovation Review Criteria
Companies with a mature approach to innovation vet potential innovations through a rigorous review process. As a starting point, we recommend the tried-and-true desirability, viability, feasibility model:
Desirability assesses whether your innovation is solving a real customer problem
Viability tests whether your idea aligns with the core business and has the potential to be profitable
Feasibility examines whether your idea is functionally possible and can realistically be implemented
The idea is that potential innovations should meet all three criteria; they should simultaneously be desired by end-users, realistically able to be implemented, and financially viable.
Credera’s Idea Review Process
At Credera, we use a series of 8 questions to evaluate the desirability, viability, and feasibility of ideas being considered. Learn how to manage for total innovation through our Idea Review Process:
Find Out More
Through our experiences with different industries and types of organizations, we’ve learned how to help companies foster innovation. Learn more about our innovation work with clients here, or reach out to a Credera innovation expert at email@example.com if we can partner with you to achieve your innovation goals.