idea management creative edge 2011

IDEA MANAGEMENTCREATIVE EDGE 2011Matt Chapman – Innovation Strategy Director

STRUCTURE

• Introduction to idea management

• How companies benefit?

• The 3 key success factors and 3 most common pitfalls

• Summary & Q&A

SPIGIT

• Spigit is the leading provider of collective idea management software, connecting employees, customers and business partners for innovation and insight discovery.

• Multiplatform provider - Java, Jive, Facebook & SharePoint

• Integration with Social Media Platforms – Facebook, LinkedIn & Yammer

• Over 150 Customers & 4m+ users

• The Largest & Fastest Growing Idea Management Company in the world - 300%+ YOY Growth

• Actively used by more F500 companies than any other vendor

• A Warburg Pincus Backed Company

WHAT IS IDEA MANAGEMENT?

ROCKET POWERED IDEA MANAGEMENT

EMERGENT BEHAVIOR

CULTURE

FUNDING

INCENTIVES

PROCESS

TECHNOLOGY

ENTERPRISE IDEA MANAGEMENT

• Web 2.0 Brainstorming 24/7

• Connects your total innovation capability to create ideas• All employees incl. R&D, NPD, IT etc. • Partners e.g. supply chain, retailers etc. • Customers• Future Customers

• Software benefits• Capture, store and search for all ideas in your company• Segment Idea Communities – Enterprise, Department, Customers• Pipeline management – incl. decision making workflow, action settings,

communication feedback etc.

Select and transform ideas into products, services

and processes by balancing creativity with

process discipline.

Engage communities to proactively collaborate,

and improve and refine ideas through incentives

and competition.

PROCESS OVERVIEWMobilize the wisdom of the

crowd to generate innovative ideas for your organization.

SYSTEMS

CUSTOMERS

EMPLOYEES

PARTNERS

Bottom Up Project Management

Top Down Portfolio Management

DRIVE RESULTS

SELECTSelect and transform ideas into new processes, products and services

CREATE PLAN MANAGE

IdeaManagement

Portfolio Reporting

Capacity Planning

Portfolio Optimization

Portfolio Prioritization

Business Case Definition

Team Collaboration

Project Scheduling

Resource Management

Project Reporting

Issues and Risk Management

Time Management

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WHY DO WE NEED IDEA MANAGEMENT?

• Complex organizations struggle to gain a regular pipeline of ideas which consistently deliver material benefit across their organizations

• But why?

• Common sense tells us we should be able to do this? We should be able to put in a process which addresses the challenge......

• ........the problem is, the answers are not as straight forward as you would imagine given the need and wealth of case studies in existence

• Need to get this on the leadership agenda• Create the right funding and support model to create and sustain it• Create a strategy including your path to adoption (the Culture bit)• Design and deploy the right process• Prove that it works here• Create that break through innovation• Don’t stop there!

BUILD YOUR BUSINESS CASE

• Leadership & Strategy

• Process & Resources

• Culture & Engagement

• Maybe something to do with software

• Partner with someone who can help

WHO HAS THE MOST VALUABLE IDEAS?

50/50

WHERE ARE THE MOST VALUABLE IDEAS?

20/80

ADD A LITTLE IMAGINATION

WHAT CAN IT LOOK LIKE?

WHATEVER YOUR IMAGINATION ALLOWS

HOW DO COMPANIES BENEFITS?

$89 million in new revenue

£21 million in hard savings

7% profit increasein one quarter

PROOF POINT ‒ ROI (RETURN ON IDEAS)

Provide a common and centralized workspace where ideas can be captured, shared,

evaluated, and rated.

Empower everyone both in and outside of the

organization to contribute to the innovation process and

prevent great ideas from getting lost or overlooked.

Align worthy ideas to specific organizational

strategies and perform what-if exercises based on funding, risks, resources, and other

variables.

The nation’s eighth largest retailer and a leading membership warehouse club

Leading $17.8 billion U.S. department store retailer

BUSINESS & TECHNICAL BENEFITS

BUSINESSExpand the

quantity and quality of

creative ideas

Choose the right ideas in a timely

and informed manner

Rapidly convert selected ideas into actionable

outcomes

Support business need

with agility

Leverage current IT

investments

Simplify deployment, adoption, extensibility,

and maintenanceTECHNICAL

WHAT IS THE RIGHT QUESTION THAT DRIVES US?

• What ideas do I need? - Strategy

• What ideas am I able to implement? - Process

• Do I take the red or the blue pill?

IDEA MANAGEMENT – ENGAGEMENT MODELS

Suggestion Box

Continuous Improvement

Challenge

• Lots of ideas• Initially high engagement

• Constant path of ideas• Improves particular processes or areas

• High impact, implementable ideas• Strategically aligned to business need

Wide focusBroad spread of incremental ideas

Processfocus

Segmentedimprovementideas

Strategicfocus

High quality, new to world impact ideas

Lower Value

Higher Value

WHAT CHALLENGES DO COMPANIES FOCUS ON?

New to World

Incremental Innovation

Operation Innovation

3 KEY SUCCESS FACTORS

Leadership

CultureProcess

LEADERSHIP

• Top-down meets bottom-up• Sponsors/Leaders set the strategy & process• No unauthorized conversations• Business focused collaborations only• Measurable benefits (ROI)• Cultural improvements

• Employees at the coal face of operations solve business challenges with a strong customer centric focus

• Senior management discover new ideas/solutions they’d not thought of from the edge• 80% of the best ideas come from people who are not usually engaged in traditional

brainstorming activities

CULTURE

• Creates a culture of collaboration• Reduces waste and increases best practise sharing• Breaks down silos • Allows people to connect across geographies and time/work practise differences

• Discovers new talent• Fast track innovation and leadership talent

• Reduces resistance to change• Employees consulted as part of the program• Time to implement ideas far shorter through this method compared to more traditional approaches

• Employees share far more in a collaborative environment with management than they do when engaged directly

PROCESS

• Business focus tool and process that leverages social technology and collaboration to generate measurable business value

• An Idea Management Process is a discipline • Idea Management supports all phases - not just a suggestion box• Collaboration, game dynamics, rewards and communications are built-in

• Scales to hundreds and thousands in one collaboration• Can be accessed 24/7 including mobile devices

• Easy to run parallel processes & challenges across the business• Create value and hub-spoke support model of expertise to run local challenges

• Decision making workflow and action setting• Tools for experts and review teams

• A convergent – outcome oriented – approach• Structured and unstructured data capture

• Powerful feedback loops• Control of communication

3 MOST COMMON PITFALLS

Leadership

CultureProcess

SUMMARY

• Idea Management is becoming a key competency for industry leading companies and emerging competitors

• Tapping into the wisdom of crowds is leading to significant ROI and the discovery of New to World ideas from people at the edge

• Build your business case and engage with experts to help guide you

QUESTIONS

CONTACT DETAILS

• Matt Chapman - Strategy Innovation Director

• Email: mchapman@spigit.com

• Blog: www.mattchapmanblog.com

• Twitter: chapman_matt

• Phone +44-7703-670-138