In the Implement phase/stage, the framework focuses on the ideas funnel life cycle management. As ideas management and success rate is one of the main challenges for enterprise internal innovation management, the framework is dedicating this phase specially for proposing different concepts and tools to help in increasing the maturity and effectiveness of this part of the life cycle. At the end, ideas are the main element behind products and services, and our end goal is to have a superior, competitive products and services which leads to high economical impact.
This phase/stage will be evolving around the concept of the ideas life cycle management through the introduction of the ideas funnels. The ideas funnel is mainly divided into three main stages. The first stage is the Get stage, in which the main challenge is to get as much as possible competitive ideas. The second stage is the Build stage, in which our challenge is to take promising ideas through a path of product development. Such path is divided into different check points to guarantee the effectiveness and efficiency of the new product development life cycle. The third stage is the Grow stage, in which our main challenge is to successfully productize and commercialize the ideas into diffused products and services with high economical impact.
Implement Phase Tools:
- Ideas Funnel Life Cycle Management
The idea funnel life cycle introduces a visual illustration for the ideas’ different maturity stages. It also gives an overall view about the different nature of each stage and its related needed activities, maturity, competencies and life cycle management approach. We believe that the successful management of the funnel life cycle is one of the most challenging topics related to enterprise innovation management.
- Ideas Funnel VS Activity VS Maturity
The definition of the Ideas Funnel is that it represents the ideas through the different stages of maturity. At each phase of the ideas funnel we have a predefined maturity level, starting from having just an idea, which will go through a defined selection process to be moved to the next level, till reaching the highest maturity level of commercialization readiness. For each phase and each maturity level, we need to conduct a specific activity to increase the idea maturity and move it to the next level.
The Ideas Funnel, Maturity VS Activity diagram, represent the relation between the activity and maturity for each idea in the funnel. This help us to determine the most suitable activity for each phase.
- Ideas Funnel Life Cycle Management Canvas
The ideas funnel life cycle management canvas provides a single consolidation view for the three stages and the different important elements as the activity type, maturity of the idea, success rate, needed budget and resources, KPIs, needed skills and team involvement.