Idea Management System eBook - Wide Ideas

1. idea management a process for all business strategies by JAKOB LINDVALL and ÅSE ANGLAND LINDVALL

2. idea management process Introduction According to Gallup’s ‘State of the Global Workplace’ report, 85% of employees are either not engaged or actively disengaged in the workplace. The economic consequence of this could be as high as $7 trillion in lost productivity. strategy, and embedding it into the existing digital workplace, is recognised industry standard. companies to leverage intelligence of its employees to share ideas through the tools they already know and use. slowly becoming This the a allows collective As well as direct monetary consequences, there are also indirect consequences too. Disengaged employees don’t talk positively about their brand, impacting new sales and making the company less attractive to new talent. Attrition rates will also rise. With the global innovation management market expected to grow to $1.5 Billion by the end of 2022, and 66% of organisations believe they will not survive without innovation, companies are now recognising employees as a critical way to channel new ideas. So how do you fully engage employees? Idea generation of software that not only captures ideas, but also manages the entire end-to-end process. With the help of artificial intelligence, it accelerates the decision-making process for leadership teams. Management Software is the next The Gallup report goes on to describe engaged employees as “people who work with passion and feel a profound company. They drive innovation and move the organisation forward”. connection to their So, engagement, improve brand loyalty, attract the best talent, whilst continuing to innovate, Idea Management Software is the way forward. if you want to increase employee The concept of crowd-sourcing for new ideas is certainly nothing new. continuous innovation However, into applying business the $ Billions 1.5 85% 66% 0.4 2017 2022 employees not engaged or actively disengaged at work projected growth of innovation management market organisations will not survive without innovation Source: Gallup Source: PA Consulting Source: Research and Markets www.getwideideas.com sales@getwideideas.com

3. idea management process More-inclusive operating models, such as open innovation, design thinking, and co-creation with partners, customers, and suppliers, are now all embraced ahead of traditional R&D, and by a wide margin. Source: PWC Innovation Benchmark report www.getwideideas.com sales@getwideideas.com

4. idea management process Wide Ideas – Idea Management Process Whether implementing a continuous improvement initiative or an innovation program into the company business strategy, three things are required for success: significant advantage. However, all digital platforms and software that capture ideas need to have a systematic idea management process development and turn them into solutions. That idea management process transparent, inclusive and driven from the top to develop a company-wide innovation. to facilitate their • People to contribute • Software to capture ideas • Process to facilitate development needs to be culture of Selecting idea management software that fully integrates into the existing digital workplace, like Microsoft Office 365, gives instant company-wide access to the collective intelligence of employees. This is where Wide Ideas – Idea Management Software has a Working with many great and inspirational customers over the years, we have now developed our own process to manage ideas based on user experience and input. The Process Wheel www.getwideideas.com sales@getwideideas.com

5. idea management process 1. ASK OPEN A CHANNEL FOR INPUT Whether it is improving product offerings, services or internal processes to boost efficiency, the first step in the process is to create a channel for input. asking for input: 1. Focused – creating a series of business challenges to focus the idea generation and discussions The most successful companies enhance their capability to co-op with customers, employees and sometimes both by using smart digital tools. This allows for the collective intelligence network of people to work seamlessly together. 2. Unfocused – creating an open channel for suggestions on any topic Both creating a series of business challenges helps employees understand the business priorities of management and is more likely to increase employee engagement. approaches work well. However, of a connected There are two different approaches when Embedding the idea management process into the existing digital workplace, increases the employee contribution levels emphatically. www.getwideideas.com sales@getwideideas.com

6. idea management process 2. SHARE ENGAGE EMPLOYEES TO CONTRIBUTE IDEAS To create a true innovative culture, every employee must have the opportunity to contribute. Involving employees in the process of ideation is nothing new. However, creating the framework to work in a transparent and inclusive manner, through a company’s existing digital workplace, is both ambitious and exciting. a little raw and in need of refinement as the creative mind is often an unstructured one. It is therefore the role of idea owner, and the ‘community’ of employees who support it, to find like-minded individuals with the right skill set to develop the idea further. The engagement framework is that it does have the potential to find the best solutions through a connected network of creative and diverse minds. big advantage with this type of The role of the employee doesn’t stop at sharing an idea, but they need to drive engagement too. Also, employees who contribute to ideas are just as important in the idea management process as those who actually share them. However, newly shared ideas are generally www.getwideideas.com sales@getwideideas.com

7. idea management process 3. RANK EVALUATE IDEAS PROVIDING FEEDBACK When ranking ideas, involve employees in the evaluation process. This will benefit the organisation by: involvement in future programs The ROI of some ideas will be much clearer than others. Don’t be afraid to go back to the idea owner and request more clarity and a stronger business case. 1. demonstrating that employee knowledge and competence is valued, peaking their interest and engagement in ideation Ranking ideas manually can be a time consuming exercise causing a bottleneck in the process. Using software with AI eliminates any blockages and accelerates the decision-making process. This is a great way to filter predicted best ideas quickly. 2. providing valuable, up-to-date insights as to why the idea will see a valid ROI idea (like management Wide Ideas) 3. exhibiting a transparent and inclusive culture, thereby encouraging An idea may not be viable today but it could be the innovation of tomorrow. www.getwideideas.com sales@getwideideas.com

8. idea management process 4. SELECT IDENTIFY IDEAS TO MOVE FORWARD WITH Transparency and inclusivity are key attributes for encouraging employee engagement in any opt-in program. When using idea management with built in artificial intelligence, the ranking process will automatically provide a shortlist of the predicted best ideas. process of selecting the final ideas to move forward with much efficient. business criteria that need to be taken into consideration, when decision: making the final This makes the • Current market conditions • Return Of Investment (ROI) • Scalability • Timing simpler and more The group of people tasked with making the final decision should come from all areas of the business. This will provide a fair and balanced impact assessment. Including a risk assessment for the ideas that have been short-listed is an action that could save a lot of time and money in the long term. However, there are a number of key www.getwideideas.com sales@getwideideas.com

9. idea management process 5. PLAN OUTLINE THE PROCESS TO DELIVER Every idea selected needs a Business Sponsor to approve it, Stakeholders to drive it, a Project Leader to manage it, and a team to deliver it. potential risks and issues. Also, including regular touch points along the project time line with Stakeholders can help with allocation of additional budget and resources to ensure the project can be delivered on time. The project team would generally come from different groups, functions and lines of business. However, including volunteers from those that showed a passion for the original idea will bring some continuity to the idea management process. A communication plan should also be outlined so management and employees can be regularly updated on progress. Keeping ideation at the forefront of people’s minds is a good way to increase employee contribution. Good planning will provide a clear direction, help to identify goals, and uncover any Planning is essential as it provides a sense of purpose, clear direction and measurable goals to the process. www.getwideideas.com sales@getwideideas.com

10. idea management process 6. DO EXECUTE AND DELIVER SOLUTION Success energizes future idea contribution. Once all the planning is in place, and a project team established, it’s time to deliver. down situations to limit wasting more costs. as early as possible in these Throughout important to keep reviewing the goals and objectives to ensure the project meets all the necessary success criteria. the project life-cycle, it is Once an idea has been delivered, it needs to be celebrated. This will send out a positive cultural message and potentially influence others to get involved in ideation. Whilst reviewing, it is not unusual for an idea to no longer appear to be a viable solution. This is why reporting regularly to stakeholders is important. The Business Sponsor will need decision, but it is good to close a project When communicating out success, it is good to include testimonials Business Sponsor, Stakeholders and the original owner of the idea. This adds more credibility to the overall idea management process. from the to make the final www.getwideideas.com sales@getwideideas.com

11. idea management process Final Word A true innovative culture is an organisation that relies on the collective intelligence of its employees. Setting up strategies, defining roles, collecting ideas, and communicating progress to be innovative is one thing. But, doing is everything. Jakob Lindvall CEO & Co-founder @ Wide Ideas www.getwideideas.com sales@getwideideas.com

12. idea management process CONTINUOUS See how WIDE IDEAS idea management software can be the digital framework to support your business strategy. Request Demo BUSINESS STRATEGY www.getwideideas.com sales@getwideideas.com

13. idea management process About Wide Ideas Located in a scenic mountain range in Sweden, Åre may appear to be small town but it has big ambitions. and Thomas Cook, our passion for helping companies leverage the collective intelligence of its workforce continues to intensify. Åre contains a vibrant start-up community of businesses and is where Wide Ideas began its inspiring journey in 2011. Follow us and stay connected Many years on, having worked with some, amazing customers like Axel Johnson, Ricoh, Åre, Sweden our ethos “ We believe in human beings as the main driver of renewal and development and that the employees of a company, and their stakeholders, are the business's most important resource for idea management. Combining our extensive skills, long experience and our proprietary application, we create change for innovation success for all types of organizations.” Founders of Wide Ideas Åse Angland Lindvall and Jakob Lindvall www.getwideideas.com sales@getwideideas.com

14. Wide Ideas idea management software empowers employees to share ideas to business challenges on a global scale, helping to foster a culture of innovation. It also seamlessly transforms Microsoft Office 365 into a powerful digital innovation platform. Features include: Microsoft Office 365 integration Artificial Intelligence Decision Analysis Tool (DAT) Smart and clean design Accessible across all devices ✓ ✓ ✓ ✓ ✓ www.getwideideas.com sales@getwideideas.com Wide Ideas is an Idea2Innovation product