Quest Inc. recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Quest managers will most likely use __ next to arrive at a realistic number of ideas to adopt.
A) crowdsourcing
B) idea screening
C) concept testing
D) concept development
E) business analysis
The correct answer and explanation is :
The correct answer is B) idea screening.
Explanation:
After a brainstorming session generates a large number of ideas for new products or services, organizations typically proceed to the next phase of the innovation process, which is idea screening. Idea screening is a process used to evaluate and narrow down the list of potential ideas by assessing their feasibility, alignment with the company’s strategic objectives, market potential, and the resources available for implementation.
The goal of idea screening is to reduce the number of ideas to a manageable and realistic set that can be developed further. This is crucial because not all ideas generated in the brainstorming process will be viable or worthwhile. Some ideas may be too expensive to implement, may not align with the company’s vision, or may lack market demand. By screening these ideas, Quest Inc. can identify the ones that are most likely to succeed in the market.
Here’s how idea screening typically works:
- Initial Evaluation: Ideas are reviewed for their feasibility, both in terms of technical capabilities and resources.
- Market Potential: The ideas are assessed for their potential appeal to target customers and whether there is a market demand for the product or service.
- Profitability: The cost, price point, and potential return on investment are considered to ensure the idea is financially viable.
- Strategic Fit: The idea must align with the company’s overall strategy, mission, and brand values.
By conducting a thorough screening process, Quest Inc. can avoid investing resources into projects that are unlikely to succeed and instead focus on those with the highest potential.
Other options mentioned in the question are not suitable for this stage:
- A) Crowdsourcing: This involves gathering ideas or solutions from a large group of people, usually the public, and is more applicable before or during the idea generation stage.
- C) Concept testing: This is conducted later, after the idea has been refined, to test how potential customers react to a new concept.
- D) Concept development: This follows after screening, where selected ideas are further developed into detailed concepts.
- E) Business analysis: This is performed after the concept development phase to evaluate the financial feasibility of the idea.
Thus, idea screening is the most appropriate next step after brainstorming to narrow down and refine the ideas generated during the session.