Bazaar of Ideas

Type of record:
  • Strategy method
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Ideal innovation phases for this method:
  1. Innovation Phase
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. 8
  10. 9
  11. 10

Description

The Bazaar of Ideas provides funding in a company for initial small feasibility studies on promising ideas and at the same time promotes personal commitment and the overall innovation culture.

At the bazaar of ideas, several employees are given small budgets (e.g. 1,000 euros).

for carrying out initial small feasibility studies on their ideas. If a single employee now needs more than 1,000 euros, he can try to convince his colleagues of his idea. The result would be that the colleagues give him their budgets or part of them to realize his feasibility study.

Thus an individual can acquire considerable budgets for his idea among his colleagues, and in the same breath a mindset for passion and commitment is promoted.
  • Effective for all innovation types
  • Effective for highly complex challenges
  • Effective for incremental innovations and improvements
  • Effective for medium complex challenges
  • Effective for radical innovations
  • P7 Idea selection (voting - evaluation - filtering - deciding)
  • P8 Early Prototyping (testing the idea directly on the user)
  • P9 Fighting for ideas (building commitments - generate fundings)
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