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Idea Management & Systems


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A framework for investing in the best ideas and turning them into commercial reality

Published in: Business

Idea Management & Systems

  1. 1. Idea Management & Systems<br />A framework for investing in the best ideas and turning them into commercial reality<br />Anand Subramaniam<br />
  2. 2. 2<br />“Creativity comes from a conflict of ideas.” <br />- Donatella Versace <br />
  3. 3. Innovation – Organisation's Dilemma<br />At any one time, how many ideas do we have in our innovation<br />pipeline?<br />Do we have a way to generate and track new ideas and how often do we do this?<br />How do we define innovation?<br />How do we reward innovation?<br />What is our innovation process & how effective is it?<br />How do we reinforce / motivate innovation?<br />What / How…<br />When do we innovate best? Why?<br />What new products, processes, or services should we explore?<br />How do we measure it?<br />What sources do we use for new ideas? Internal only? Customers? Vendors?<br />How well do we manage the ideas we generate? Why?<br />How might we become more innovative?<br />3<br />
  4. 4. Idea Management<br />Provides a framework for measuring the commercial ROI on innovation ideas<br />Collects ideas from employees , customers, suppliers<br />Defines a process for assessing and filtering ideas<br />Idea Management<br />Provides a framework for investing in the best ideas and a programme of projects for turning them into commercial reality <br />4<br />
  5. 5. Idea Management System<br />Process to capture, process and assess ideas<br />Provides a framework to identify, invest in and measure the return on the most valuable ideas<br />Manage ‘Idea Pipeline’ as a commercial asset<br />IMS<br />Provides a means to manage innovation systematically <br />5<br />
  6. 6. Managing Idea Pipeline<br />Define organisational objectives<br />Review current IT systems and capabilities<br />Identify and assess vendor solutions<br />Perform cost-benefit assessment <br />Implement preferred solution as a project – defined goals, KPIs, change management<br />
  7. 7. IMS - Components<br />7<br />Front End Idea Capture<br />Front-End processes and tools to harness / collect ideas – the ‘suggestion box’<br />Back End Process<br />Back-End processes to filter an idea (stage gate assessment) and act on the ideas received<br />Develop a programme to implement new products, services and operations<br />Architecture<br />Architecture with regard to central administration (Idea Council) to assess employee ideas (scoring, collaboration, idea champions) <br />Support IT Systems<br />Using IT as an enabler for the IMS<br />
  8. 8. IMS - Benefits<br />Useful for new products, services and business models<br />High quality and efficient operations<br />Improve market positioning and agility<br />IMS - Benefits<br />Differentiate from competition<br />Achieve growth and increase revenue<br />8<br />
  9. 9. Idea Management - Roadmap<br />Idea<br />Capital<br />Team<br />Go-To-Market<br />Business Model<br />Revenue Model / Cost Structure<br />Test for Reality<br />
  10. 10. IMS Critical Success Factors (CSF)<br />Highly focused scope vs. solicitation of 'any and all' ideas<br />Idea Campaigns vs. Innovation Culture<br />Executive support and participation<br />Aligned with organisational strategic objectives<br />Incentive structures - reward participation, / value of ideas<br />IMS - CSF<br />Idea Champions <br />Well defined innovation process along with metrics<br />Integrated process & a culture that supports sharing, sensible 'risk taking', new ideas, and participation<br />IMS Policies <br />10<br />
  11. 11. 11<br />“Globalisation has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world's best talents and greatest ideas.” <br />- Jack Welch <br />
  12. 12. 12<br />Good Luck<br /><br />