People can have a new idea, do research on that idea, and they can start developing the idea. After completing the development phase, the manufacturing process begins and the organization can acquire patents and copyrights of the product. • Circumstantial Source: Circumstantial source of innovation means that people invent a new technology with one consequence in mind but that the technology satisfies other customer needs. For example, Minoxidil has been tested for effectiveness in treating high blood pressure, its side effect of hair growth has created an opportunity to market Rogaine for baldness (Sources and Innovation Transfer, 2006)2) Different methods to generate new ideas: The different methods to generate new ideas are: • Focus Group: this is a group of individuals who discuss an idea with each other by asking and answering questions. This group is best for initial screening of ideas and this can lead to success in the marketplace (Pierce, 2005). • Brainstorming: Brainstorming is a session in which a group of people hold a group discussion to generate new ideas. • Problem Inventory Analysis: This is a method where employee can create a list of questions about the product and discuss them with customers and can come up with a totally new product idea (Pierce,
tags