An equation for idea generation

Many writers and business people agree that success and failure in new product development is reasonably predictable. Successful innovators are risk averse in many ways and seek out theory and practical tools to minimize uncertainty. At the same time, though, there is also a belief that any generic "formula" for success needs to be adapted according to context.

I came across this fascinating article the other day in Businessweek's Small Biz magazine. The author offers a three-part equation for boosting "big idea" generation. I'm sure it would also work for the important small ideas as well.

Here it is: Number of big ideas = (STIMULUS)Diversity/FEAR

After reading this article you start to think more about the significant differences among nations in terms of diversity. For example, look at the United States, a nation of immigrants/entrepreneurs from all over the world, and compare this with countries like Japan, Taiwan and South Korea, whose policies suggest that immigrants are viewed as a liability rather than an asset.

The STIMULUS and FEAR part of this equation are also described in the article.



innovation management in Asia