This report discusses the importance of managing ideas in the era of constant innovation and reinvention. The study found that breakthrough innovation is expected to generate four times faster revenue growth than incremental innovation, placing pressure on companies to generate high-quality ideas. Leading companies are launching time-limited ideation challenges and instituting a dedicated process to enrich and select winning ideas, with senior leaders devoting significant time to ideation. Innovation leaders also prevent excessive infant mortality of radical ideas and maintain a balanced R&D portfolio. Managing ideas is important because brainstorms and other methodologies often generate a large quantity of ideas that do not translate into a healthy portfolio of R&D projects. Getting the early stages right is important to avoid wasting money on failed or misaligned ideas.
