What term is used to describe the process that tracks the progress of ideas from conception to implementation?

The term that describes the process of tracking the progress of ideas from conception to implementation is known as the Innovation Pipeline. This concept involves a structured methodology that helps organizations manage the development of new ideas and products, guiding them through various stages—from ideation and concept testing to design, development, and ultimately market launch.

The Innovation Pipeline is crucial for ensuring that creative ideas are effectively nurtured and developed into viable products or services. It provides a framework for evaluating ideas, prioritizing projects based on feasibility and market potential, and managing resources throughout the innovation process. This systematic approach is key for startups and established companies alike as they seek to innovate and stay competitive.

In contrast, Open Innovation refers to the practice of leveraging external ideas and paths to market alongside internal efforts, while Disruptive Innovation focuses specifically on innovations that create new markets and disrupt existing ones. Blue Ocean Strategy involves creating uncontested market space as a means of avoiding competition, rather than focusing on the detailed process of developing ideas into products. Understanding these distinctions is important in recognizing why the Innovation Pipeline is the most appropriate term for tracking the journey of ideas from the initial stage through to implementation.