From the course: Managing Innovation
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- [Announcer] According to the Economist Magazine, an enterprise has to start with three thousand bright ideas if it's to come up with a hundred worth-while projects which in turn, will be narrowed down to four development programs for new products. Out of those four programs, the Economist goes on to say, that only one will stand a chance of succeeding in the marketplace. Think of it, three thousand ideas needed for a chance at launching one winning product. Not the best odds for established global firms and downright ominous if you're a cash-starved startup convinced you have the next great thing. It's completely understandable why product executives facing this reality would engage crisis mode; call on their teams for as many good ideas as we can get right now through brainstorming or other 'get ideas fast' methods. A key strategy that I teach successful innovators to adopt early in production/innovation life cycles…
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