The Importance of the Raw Idea in Innovation: Testing the Sow's Ear Hypothesis

This paper explores how important the quality of the raw idea is in determining success in innovation. On the one hand, one could argue that without a good idea, the chance of success is very small: “you can’t make a silk purse out of a sow’s ear.” On the other hand, one could argue that with the right resources and approach, an innovator can create value out of just about anything: the Midas hypothesis. We provide a conceptual framework for...