Idea Management Process

for all business strategies Download FREE eBook

Idea Management Process

for all business strategies Download FREE eBook

More-inclusive operating models, such as open innovation, design thinking, and co-creation with partners, customers, and suppliers, are now all embraced ahead of traditional R&D, and by a wide margin.

PWC – Innovation Benchmark Report

Introduction to Idea Management

According to Gallup’s ‘State of the Global Workplace’ report, 85% of employees are not fully engaged in the workplace. The economic consequence of this could be as high as $7 trillion in lost productivity.

As well as direct monetary consequences, there are also indirect consequences too. Disengaged employees don’t talk positively about their brand, impacting new sales and making the company less attractive to new talent. Attrition rates will also rise.

So how do you fully engage employees?

The Gallup report goes on to describe engaged employees as “people who work with passion and feel a profound connection to their company. They drive innovation and move the organisation forward”.

The concept of crowd-sourcing for new ideas is certainly nothing new. However, applying continuous innovation into the business

strategy, and embedding it into the existing digital workplace, is slowly becoming a recognised industry standard. This allows companies to leverage the collective intelligence of its employees to share ideas through the tools they already know and use.

With the global innovation management market expected to grow to $1.5 Billion by the end of 2022, and 66% of organisations believe they will not survive without innovation, companies are now recognising employees (and in many cases partners) as a critical way to channel new ideas.

Idea Management Software is the next generation of software that not only captures ideas, but also manages the entire end-to-end process. With the help of artificial intelligence, it accelerates the decision-making process for leadership teams.

So, if you want to increase employee engagement, improve brand loyalty, attract the best talent, whilst continuing to innovate, Idea Management Software is the way forward.

Introduction to Idea Management

According to Gallup’s ‘State of the Global Workplace’ report, 85% of employees are either not engaged or actively disengaged in the workplace. The economic consequence of this could be as high as $7 trillion in lost productivity.

As well as direct monetary consequences, there are also indirect consequences too. Disengaged employees don’t talk positively about their brand, impacting new sales and making the company less attractive to new talent. Attrition rates will also rise.

So how do you fully engage employees?

The Gallup report goes on to describe engaged employees as “people who work with passion and feel a profound connection to their company. They drive innovation and move the organisation forward”.

The concept of crowd-sourcing for new ideas is certainly nothing new. However, applying continuous innovation into the business strategy, and embedding it into the existing digital workplace, is slowly becoming a recognised industry standard. This allows companies to leverage the collective intelligence of its employees to share ideas through the tools they already know and use.

With the global innovation management market expected to grow to $1.5 Billion by the end of 2022, and 66% of organisations believe they will not survive without innovation, companies are now recognising employees (and in many cases partners) as a critical way to channel new ideas.

Idea Management Software is the next generation of software that not only captures ideas, but also manages the entire end-to-end process. With the help of artificial intelligence, it accelerates the decision-making process for leadership teams.

So, if you want to increase employee engagement, improve brand loyalty, attract the best talent, whilst continuing to innovate, Idea Management Software is the way forward.

employees not engaged or actively disengaged at work

Source: Gallup

projected growth of innovation management market

organisations will not survive without innovation

About our Idea Management Process

Whether implementing a continuous improvement initiative or an innovation program into the company business strategy, three things are required for success:

  1. People to contribute
  2. Software to capture ideas
  3. Process to facilitate development

Selecting idea management software that fully integrates into the existing digital workplace, like Microsoft Office 365, gives instant company-wide access to the collective intelligence of employees. This is where Wide Ideas has a significant advantage.

However, all digital platforms / software that capture ideas need to have a systematic Idea Management Process to facilitate their development and turn them into solutions. That Idea Management Process needs to be transparent, inclusive and driven from the top to develop a company-wide culture of innovation.

Working with many great and inspirational customers over the years, we have now developed our own idea management process based on feedback and input.

01

Ask

Open a channel for input

Whether it is improving product offerings, services or internal processes to boost efficiency, the first step in the process is to create a channel for input.

The most successful companies enhance their capability to co-op with customers, employees and sometimes both by using smart digital tools. This allows for the collective intelligence of a connected network of people to work seamlessly together.

There are two different approaches when asking for input:

  • Focused – creating a series of business challenges to focus the idea generation and discussions
  • Unfocused – creating an open channel for suggestions on any topic

Both approaches work well. However, creating a series of business challenges helps employees understand the business priorities of management and is more likely to increase employee engagement.

To continue reading please register and download our FREE eBook

Inside the FREE eBook

Details the 6 stages of the Idea Management Process and how to apply them to all business strategies, including – opening a channel for input, engaging employees to contribute, evaluating and selecting ideas, outlining the plan to deliver and executing it.

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