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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. Know more : ideation software


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...

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