Virtual Idea Management Products: Use and Potentialities

Abstract

Purpose- on the basis of VIMP, its application analysis, the situation with the innovative solution development tendencies and VIMP perspective assessment in Latvia, to develop a basic VIMP application model and make suggestions on VIMP application and its enhancement in Latvia.

Design/methodology/approach- research is based on both, theoretical and empirical research methods, which include literature review, the interviews with experts and the survey results of 1111 respondents, the data analysis of 20 VIMP, 20 case studies of VIMP use globally and in Latvia, as well as an overview and data analysis of two main Latvian VIMP producers.

Findings- the results of the research show that in basic VIMP application model and its elements there is interest which is strictly determined by its role and aim, but to make the process more successful the choice of VIMP is to be based on 20 factors. There is a perspective application of VIMP in all sectors and it can be enhanced by not only VIMP representatives, but also academic, public and private sector.

Practical implications- the results of the research can be used by organizations from academic, private and public sectors (potential researchers, users or VIMP supporting organizations).

Originality/value- the research emphasizes the basic application model of VIMP and suggestions on how to apply VIMP more effectively and how to enhance its application.

Paper type- Research paper