Explain these three in detail

What are the key sources of ideas for large firms? how organisations cultivate the culture of idea sharing and innovation?

Is it possible for some members of a product development organisation to be organised functionally while other are organised by a project? if so, which members of the team would be the most likely candidates for the functional organisation?

What is an ideal tournament? Using idea tournament approach generate ten opportunities for innovation base on area of your passion?

1)What are the key sources of ideas for large firms? how organisations cultivate the culture of idea sharing and innovation?

One of the key sources of ideas for big companies is startups. As the relevance of startups in international economics has increased rapidly in recent years, companies in all industries are more and more concerned with the opportunities and risks that these newcomers provide. Basically, startups aggressively explore new technologies such as robotics, artificial intelligence, and block chain to come up with futuristic ways of providing business value. Larger companies knowledge about these insights can play an important role in their own innovation strategy, selection, and accomplishments.One of the best ways of how organisation can cultivate the culture of idea sharing and innovation is through recognition and rewards.Within a culture of innovation, employees must be praised for speaking up and sharing ideas regardless of how good or bad they are. It also means accepting a certain amount of failure since trial is what leads to innovation. Another way of cultivating the culture of idea sharing and innovation is through leadership commitment to innovation.A commitment to innovation must begin at the top and flow throughout an organization's leadership.Within an innovation culture, this means leaders must allow employees the freedom to explore new ideas. Leaders also need to be open minded as this will encourage employees to became more open to speaking up and thus easing the process of sharing ideas.Another way of cultivating the culture of idea sharing and innovation is a culture that fosters clear and open communication. If an open communication is encouraged, new ideas can come from anywhere in the organization .

2. Is it possible for some members of a product development organisation to be organised functionally while other are organised by a project? if so, which members of the team would be the most likely candidates for the functional organisation?

Yes, it is possible for some members of a project development organization to be organized functionally, while others are organized by project. A common organizational approach in this scenario is a matrix organization in which individuals usually have two  leaders   the project manager and the functional leader. The matrix can be strong, weak, or balanced, depending on the various factors associated with each situation. Companies that manufacture products in which teams are significantly different for projects can benefit from the Matrix organization. For example, developing an iPods requires coordination between hardware, software, R&D and design teams. The executive manager for each team ensures that the development in each of these teams runs smoothly. A project manager for each team ensures proper collaboration between functional teams and ensures that functional teams can work on more than one project.

The most candidates in a functional organization are individuals with strong technical skills and specialized work experience in that  particular domain. A functional manager is someone who has experience working on the dynamic team he manages. He or she  must  have the necessary technical skills and the ability to deliver information to people outside the group.

3. What is an ideal tournament? Using idea tournament approach generate ten opportunities for innovation base on area of your passion?

An ideal tournament is an organizational mechanism through which opportunities are generated, identified, evaluated and selected until only the exceptional few remain.The aim of the ideal tournament is to influence the intellectual and creative capital within your organization using a competitive format. Its main purpose is to have some fun while creating a pipeline of commercialized ideas.

My passion is tricycles, and below is a list of 10 possible opportunities related to riding tricycles.

1.Make tricycles more efficient, requiring less energy from the rider

2.Keeping tricycle dry and clean

3. Design more convenient ways to carry cargo on tricycles

4.Improve safety for the cyclists when riding on the road

5.Create safer and more convenient or comfortable ways of bringing toddlers on tricycles

6.Better integrate tricycles with public transportation

7.Design tricycles that require less maintenance

8. Create solutions that make it easier to store tricycles inside a garage

9.Design better tricycle racks for public spaces

10.Making tricycles more comfortable

Step-by-step explanation

Generally, the process of innovation includes the journey from getting an idea to recognizing an opportunity in which leaders needs to support team and resources in order to be able to start an innovative project. However, many innovations fail not because individuals who have started them are doing things badly, but because a real opportunity never existed. Therefore, it is necessary to check, before interest on the idea takes over, even if the idea satisfies a specific need and whether it meets the opportunity standards. Once an individual recognizes a business opportunity, it is necessary to submit it to analyses, which will allow him insight into feasibility and sustainability of an innovative venture with the aim to reduce risk and prevent creation of losses.