In managing new product ideas, which of the following allows for a holistic and systematic process?

Question

BlackTom AI · Accepted Answer

To tackle the question about managing new product ideas with a holistic and systematic approach, we should evaluate how each option supports an integrated, end-to-end process.
Option 1: Installing an innovation management system. This choice aligns with a holistic and systematic approach because such systems are designed to capture, evaluate, and track ideas across the entire organization, coordinate stages from ideation to portfolio decision-making, and provide metrics and governance. It supports cross-functional collaboration, standardized workflows, and visibility, which are hallmarks of a comprehensive process.
Option 2: An R&D-centered process. While R&D focus is important for technical development, an R&D-centric process tends to be narrow, emphasizing research and development activities more than the broader lifecycle of ideas, portfolio balance, and market considerations. It risks neglecting early-stage idea generation, market viability, and cross-functional alignment.
Option 3: A top-management-centered process. A process dominated by top management can provide strong governance, but it may become siloed or slow, limiting participation from diverse parts of the organization. Holistic idea management typically requires broad involvement and transparent, scalable workflows rather than centralized control alone.
Option 4: Crowdsourcing. Crowdsourcing can be valuable for broad input and idea generation, but on its own it does not guarantee a holistic, end-to-end process. Without an integrated system to screen, evaluate, and manage the pipeline, crowdsourced ideas may stall or lack governance.
Option 5: Team-based new product development. Team-based approaches are important for execution and cross-functional collaboration, yet by themselves they do not necessarily establish a complete, organization-wide system for idea capture, scoring, portfolio management, and governance across projects.
In summary, while several options contribute to parts of an innovation effort, only installing an innovation management system offers a cohesive framework that enables a holistic, systematic process across idea generation, evaluation, and portfolio management across the enterprise.

Homework: Ch 08 Warm up

In managing new product ideas, which of the following allows for a holistic and systematic process?

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