Idea Management Systems Streamlining And Channelizing Innovation

Survival in today’s aggressive competitive environment is not
always possible by just meeting the customer demands, continuous
innovation in products, services or business models is the key to
successful business growth. However, with innovation taking the
enterprises into an area of least competition, exploiting the innovation
potential within the enterprise and channelizing the ideas for growth
from the employees and managers is a strategy that is beneficial to the
organization.

Organizations have time and again proved that
management of the innovative ideas that come from employees from their
area of expertise helps the enterprises in the long run. Robert B.
Tucker in his book ‘Driving Growth through Innovation’ showcases that
the employee involvement programs adopted by service organizations and
government agencies have helped save nearly $2 billion a year. Many
companies opt for incentive linked suggestion programs, wherein
employees are encouraged to submit ideas and if those ideas help save
money for the organization they are rewarded appropriately. The best
example of this is, the American Airlines lead attendant’s suggestion of
smaller can packaging of caviar that helped reduce the annual caviar
consumption of the airline by $567,000.

Creative ideas are
valuable for the companies to leverage upon as strategic innovations or
incremental enhancements. Strategic innovations cover areas such as
changes in business models or game changing products. A lineman- Tom
Terry’s invention of a tool to combat a potentially dangerous situation
is today a trademark safety related product for Verizon. The incremental
changes on the other hand are continuous improvements which require
small scale adoptions on the part of the company but may give rise to
huge benefits in cost savings and increased customer satisfaction.

Today’s
dynamic work environment and creative professionals, who think
out-of-the box, have created the need to manage and streamline the ideas
within the organization. This has prompted leading service providers to
design and develop idea management systems that work in close
connection with organizational goals and objectives while streamlining
the potential ideas of employees that focus on future progress. Such
idea management solutions helps organizations to set up a collective
intelligence around a thread of imagination wherein employees can voice
concerns, share opinions and views as well as give in recommendations.
This also enables a free flowing real-time dialogue with multiple view
points.

Idea
management system is a tool deployed at the core of management system,
accessible to all employees and important customers. Being an open pool
this helps the process of idea capture. McDonald Corporation exploited
the change that the fiercely mobile Americans were looking forward to.
By providing Americans with inexpensive fast food with consistent
quality, they successfully brought in the lifestyle changes. Others who
joined the bandwagon are Old Navy and Gap’s retail chain which provided
the Generation Y with Hip clothing at affordable prices. The
time-sensitive parcel delivery system by Fed Express helped them meet
higher levels of customer demands and gain loyalties.

Idea
management solution is thus a secure and convenient medium for a company
to refresh its old development strategies. Further these solutions
encourages the development of new competitive products and services,
drives process improvements, improves collaboration and decision making
across teams as well as provides opportunities to bring out the creative
instincts in the employees. This solution also gives the organization a
competitive advantage by identifying the potential growth areas,
ensures employee loyalty and improves the brand value.