Choose Success over Failure with Idea Management Systems

To survive in the competitive business environment enterprises need to continuously innovate that can be with the help of new inventions, new product development, innovation in products and services and their marketing strategies.  Every innovation or invention is based on ideas which is gathered from various sources and developed into a product to benefit the enterprise and its customers. However, with technological enhancements there is an increase in customer awareness, leading to  increase in the demands for better products and services.

 

Innovation in any form, either a modification in the existing product or the development of new product, services or techniques, needs ideas. For most organizations, innovation also includes reinventing and restructuring of the processes or even developing innovative management solutions. Organizations are thus looking for ideas from both internal and external sources. The advent of the internet has enabled the enterprises to crowd source ideas from a diversified group. All the ideas that flow into the idea funnel may not fit into the organization's goals and objectives. Therefore, use of efficient idea management system will help enterprises create innovation products that meet customer requirements and organizational objectives.

 

The idea management system which is defined as a structured and disciplined approach to managing innovation facilitates enterprises to   manage ideas and implement innovations with clear milestones and metrics.  Ericsson implemented a collaborative  self-organized idea management system at Ericsson - ‘IdeaBoxes’ in 2008 that facilitates all employees innovate everyday across the organization.  Since its inception the participation has grown gradually through viral marketing. It is up to each innovation manager to decide if they want to use the tool to help them gather and manage ideas relevant for their innovation efforts.

 

IdeaBoxes has been a great success and has had an unbroken growth since its inception. This system has helped the multinational enterprise with diverse innovation needs across locations to channelize the ideas captured from multiple sources as per requirement.  Further, the adoption of these Idea Boxes as a concrete tool for managing ideas by managers has resulted in the generation of more than 15000 ideas, collections of 30000 comments from over 10000 users as collated by July 2011. A large number of ideas have been implemented and used for new product development and innovation in services and processes across the organization.

 

With the difference between success and failure resting on a single idea, the web based idea management system from the leaders of the industry opens up a large space for customers partners as well as vendors to be involved in the development process.   Further, it facilitates enterprises to manage the idea generation process for capturing, collaborating and assessing of ideas. The idea management software benefits the enterprises with competitive products and services, process improvements leading to enhanced brand value.

 
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