idea management creative edge 2011
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Idea management Creative Edge 2011. Matt 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. - PowerPoint PPT PresentationTRANSCRIPT
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: [email protected]
• Blog: www.mattchapmanblog.com
• Twitter: chapman_matt
• Phone +44-7703-670-138