Innovation - the successful exploitation of new ideas - is the key element in providing growth and competitiveness. PRESENS utilizes a set of processes and procedures for generating, considering, and acting on novel and useful ideas.Idea generationCreativity by individuals and teams is the basis for innovation, and highly emphasised at PRESENS. To ensure a constant flow of new ideas, we are:- Involving all employees - a "continuous improvement program" is intruduced to recognize and reward employees who submit ideas that can end up as new or improved products, processes and services- Building up and maintaining partnerships with customers, suppliers and research institutions, which promotes a transfer of inspiration, new ideas and know-how- Consistently investing in research and technology development- Pursuing joint development relationships to identify new technology needs and take part in joint research and development programs of relevance- Promoting intercultural and cross-sectional competence- Promoting team work in problem solving and decision making- Organizing informal meeting points that stimulate creative thinking and actingFeasibility studyThe feasibility study focuses on helping answer the question "should we proceed with the proposed project or business idea?"The study examines three main areas:- market issues- technical and organizational requirements- financial overviewProject definition/business planIf the result of the feasibility study indicate that the proposed venture is economically viable, then we begin to develop a project or business plan. The plan sets out the goals of the project and how we intend to reach those goals.Project implementationImplementation is the stage where all the planned activities are put into action.