Innovate Internally

Contd..

• “Design the next big thing“ is not a good challenge statement. Make your challenge statement or question focus on a specific problem to be solved. As companies grow, they build up massive repositories of knowledge, resources and intellectual property assets that become so large, even their own employees and executives are not fully aware of its breadth.

• Leverage this content by encouraging contestants to access this data. Lay out a step-bystep process so your employees aren't overwhelmed. For instance, rather than ask them to turn in a 50-page business plan for their idea, ask them to first submit a one-page pitch.Once you narrow the candidate pool, quarter-finalists can then flesh their ideas out into full-fledged proposals.

Contd..

• This way , all contestants get immediate feedback on their ideas, and know whether they are on a fruitful path before committing any more time to it.This process also encourages them to learn and practice different skill sets: pitching, analysis, plan preparation, etc.

• As with most new businesses and patents, most innovation contests do not lead to substantial results right away . For that reason, it's important to emphasise the benefits that contests yield.

Contd..

• No matter what finally happens with the eventual winning idea, well-managed internal competitions teach employees new skills, connect them across multiple departments and amplify the company's overall creative ambience.

• From “To Encourage Innovation, Make It a Competition“

For details and bookings contact:-

Parveen Kumar Chadha… THINK TANK

(Founder and C.E.O of Saxbee Consultants & Other-Mother )

Email :-saxbeeconsultants@gmail.com

Mobile No. +91-9818308353

Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015