Magazine article Black Enterprise

Discovering the Next Big Idea: How One Inventor Developed Idea Management Software to Fuel Business Innovation

Magazine article Black Enterprise

Discovering the Next Big Idea: How One Inventor Developed Idea Management Software to Fuel Business Innovation

Article excerpt

[ILLUSTRATION OMITTED]

HOWARD RASHEED, PH.D., THE founder of the Wilmington, North Carolina-based Institute for Innovation Inc. believes in focusing on the big picture.

"If you consider what the potential value of the next big idea could be, leaving innovation to be random and serendipitous is not what industry leaders should do," says Rasheed, an innovation strategist who holds a philosophy doctorate in strategic, international, and entrepreneurial management as well as an M.B.A. in entrepreneurial studies.

The Management Center for Strategic Studies, a government entity in the Brazilian Ministry of Science and Technology (Centro de Gestao e Estudos Estrategicos, or CGEE) sought Rasheed's help to stimulate economic growth by financing small and medium-sized businesses involved in solar technology. The challenge was determining how and where they should distribute investments to ensure a profitable outcome, a process requiring input from a number of experts in government, education, and the energy sector.

Using the Idea Accelerator (wwv.ideaact.com), a web-based idea management software application he co-invented with his son, Hassan, Rasheed helped rescue the Brazilians from losing valuable time and money. Some 50 specialists came together with fragments of ideas they wanted to recommend as public policy, says Elyas Medeiros, coordinator of studies at the CGEE. But after only three short days of working with the IA software, all the specialists were able to collaborate on a comprehensive, conclusive report and identify 10 fully formed, concrete ideas. "Without the IA we would have worked in a conventional manner that would take more resources to get to consensus and valid propositions," says Medeiros.

In the life cycle of any organization--whether it is a multilevel government or a family-run small business--time must be allocated to plan for the future. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.