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.

Idea valuation techniques include:

a) Comparing idea types

b) Analysing fit with the firm

c) Analysing practical impediments

d) Deciding when to issue GO or KILL decisions when ideas are within the idea funnel

However, what is often overlooked is in-depth analysis of user benefits. Ultimately, an idea is valued by user take-up. In a commercial world, it is valued even more severely – by profit margin and shareholder / stakeholder benefits.

Analysis of the buyer experience cycle and the utility layers is a start point.

Along the buyer experience cycle, it is possible to

About the Author: Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com.