Idea Management Type, Competencies and Capacity Impact on Innovation Results and Financial Performance

Abstract

Idea management is a process that allows an organization to capture, develop and implement new ideas. In the COVID-19 pandemic, idea management systems (IMS) can play a vital role in improving innovation results and financial performance for organizations. IMS is a software-based platform that enables organizations to manage their idea management processes more efficiently. The main aim is to study idea management (IM) competencies and how idea management systems (IMS) can improve innovation results and financial performance in COVID-19 time concerning. To fill this research gap this study used a survey of more than 500 firms from all around the world. It was revealed that competencies and IM types impact the quantity of ideas, but the quantity of ideas impacts the quality of ideas, which increases innovation results that lead to financial performance improvements.