All innovations originate from ideas that were developed and implemented. Ideas are therefore important for the success of an enterprise as they bring about changes by way of new products and services, business models and processes. New ideas can be internally generated by employees or can come from external sources such as customers, partners and competitors. They can also be conceived by individuals and teams in relaxed environment or in challenging situations. With globalization, firms need to continuously innovate in order to remain competitive. They can achieve this by engaging in activities that will generate a consistent pool of ideas to choose from.
