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How to Evaluate and Screen Innovative Ideas
 
According to specific needs, adopting effective innovative conceptual process and technology can often produce a large number of innovative ideas. However, due to the limitation of enterprise resources and time to market, it is necessary to evaluate the concepts generated, screen out valuable and implementable innovative ideas, and point out the right direction for new product development projects. The main activities of screening innovative ideas include: setting up multi-functional evaluation teams, formulating comprehensive and specific evaluation criteria, collecting reliable information and data, and adopting appropriate screening techniques (processes and methods).


The multi-functional evaluation team shall be composed of experienced members from the technical, marketing, sales, finance, manufacturing and other departments.


The evaluation criteria should examine the consistency of innovative ideas with the company's business objectives, market demands and company capabilities. Consideration should be given to the ability to meet market demand, the company's implementing ability and resources, the profit potential and risks of conceiving products. Specific indicators include: the ability to meet market demand, the uniqueness of conceiving product concepts, the degree of customer acceptance of conceiving products, and the ability to realize conceiving products (manufacturing, technology, etc.). Material supply, marketing ability of conceiving products (distribution channels), profit potential of conceiving products (cost, price, sales volume), company capital investment ability of conceiving products, technical certainty, conceiving and strategic adaptability.


The steps of the evaluation process include: conceptual classification - Classification according to the scope of application of the concepts in order to determine the evaluation criteria and weights; preliminary evaluation and screening - grading and screening of all new concepts based on the market adaptability, practicability and profitability of the concepts; conceptual evaluation - screening of the concepts Quantitative analysis of weighted score was carried out according to the above evaluation indicators.


In the evaluation process, the evaluators should define the detailed scheme and the meaning of the evaluation index, then grade each idea. Finally, according to the score of all evaluators, the weighted total score of each idea is calculated, and the most suitable innovation idea is selected according to the total score of evaluation.


It must be pointed out that the screening of innovative ideas is dynamic. With the deepening of front-end development, some capabilities of enterprises will be enhanced, some uncertainties in the market will be clearer, and the conclusions of the evaluation will be changed. Therefore, it is necessary to carry out multi-stage conceptual assessment.