Integrated Idea Management in Emerging Technology Ventures

Many businesses use the instrument of the "idea management" in order to generate innovations within the corporation. Nevertheless, there are different ways of how to use idea management in businesses. In general, it makes sense not only to gather ideas from within the business but also to acquire ideas from external sources in a structured way. Through well-directed integration of customers, suppliers, competitors and others, it is possible to consider ideas from different directions and, if applicable, implement those ideas within the framework of an innovation management. These thoughts have been pursued within a model of an integrated idea management and examined by means of an explorative analysis. The results indicate that there is a clear tendency towards the integration of external groups. Basically, this integration occurs directly through the individual functional divisions such as the purchasing, development or sales department. However, from a strategic point of view, a comprehensive anchorage regarding the functions of an integrated idea management would be necessary