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10 Innovation Lessons for Success

10 Innovation Lessons for Success

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10 Innovation Lessons for Success

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  1. 10 Innovation Lessons For Success

  2. 66% of the 800+ executives surveyed worldwide confirmed that their organisations could not survive without innovation. Source: PA Consulting Innovation Matters 2017 report page 02

  3. idea management software 10 innovation lessons for success 01 leaders must show the way The quickest way to engage employees in innovation is for them to see their own leadership teams active and engaged themselves. Lead and others will follow! It is this type of active engagement that sends a ripple effect through an organisation and encourages employees to also participate. And probably not surprising, the quickest way for any innovation initiative to fail is to see their leadership teams disengage. page 03

  4. idea management software 10 innovation lessons for success 02 don’t let that initial momentum die This is true for most company initiatives but particularly true when it comes to innovation. There are generally two main causes for this: 1. poor (or lack of) communications 2. little or no engagement by leadership teams The first is fairly easy to resolve with a clear communication strategy and regular updates. The second however is much more difficult to prevent as leaders become distracted by other business priorities. page 04

  5. idea management software 10 innovation lessons for success 03 lead with passion and influence Innovation is a business critical initiative, though by many organisations today it is still seen as a second tier objective. Innovation needs to be an initiative that every company embraces as part of the overall business strategy. With the right leadership, success is only an idea away. page 05

  6. idea management software 10 innovation lessons for success 04 not all innovation platforms are the same Choosing the right innovation management software to capture and refine ideas is critical to the success. Any innovation digital platform ideally should: be simple to use • be easily accessible (including mobile) • allow discussions around an idea • integrate into the existing digital landscape • include Artificial Intelligence • page 06

  7. idea management software 10 innovation lessons for success 05 don’t make it standalone People are inherently creatures of habit who do not always embrace change easily. A standalone open innovation platform is much more difficult to attract employee contribution than one that already integrates into their existing company’s digital landscape. Having the latest business challenges, ideas and discussions feed into a company’s intranet, allows innovation to filter through and become part of the daily business work flow. page 07

  8. See how WIDE IDEAS can transform your Microsoft Office 365 product suite into a powerful digital innovation solution. Request Demo

  9. idea management software 10 innovation lessons for success 06 artificial intelligence is your friend Business innovation today will struggle to be successful without the inclusion of Artificial Intelligence! The Solution: Artificial Intelligence can help in both these situations by analysing all the Big Data captured, including all user interactions with each idea, and applying a machine learning algorithm. Over the years there has inherently been two major flaws with innovation platforms once employees begin submitting their ideas. 1. AI accelerates the decision-making process. How to identify Subject Matter Experts (SME’s) to collaborate on ideas to turn them into potential innovations 2. How to identify the right ideas to progress with page 09

  10. idea management software did you know? decision-making: AI vs human In a recent scenario, the Wide Ideas unique Artificial Intelligence predicted 8 out of the 10 ideas in under 5 seconds that a management team took over 2 months to identify and agree on! Can your idea management software accelerate the decision-making process? page 010

  11. idea management software 10 innovation lessons for success 07 acknowledge the idea- makers and contributors Whilst money is the natural go-to incentive to engage employees in ideation, after a recent survey it may surprise you to know that the top response was actually “recognition by ones peers and leaders”. Therefore, including a way to recognise and reward successful contributors to innovation and making it a part of the communication strategy, is often a great way to organically influence other employees to get involved. page 011

  12. idea management software 10 innovation lessons for success 08 avoid the dreaded idea black-hole Many employees interact with customers regularly and therefore they are a critical knowledge asset to solving a company’s business challenges. And for employees to continually participate in innovation they need to be kept motivated. So avoid ideas falling into a black-hole, and demotivating employees, by creating a feedback process on ideas. This can be done by appointing Ambassadors which leads me to… page 012

  13. idea management software 10 innovation lessons for success “Build it and they will come!” 09 bring on the Ambassadors This is something I have heard many times when it comes to digital platforms. Unsurprisingly, it is very rarely true. And even less true when it comes to digital innovation management tools in large enterprises. Creating an Innovation Ambassador role, where the primary responsibility is to drive awareness, encourage engagement and showcase wins, will ensure success. This role should be an add-on to an existing role and shouldn’t be more than 5-10% of someone’s time. page 013

  14. idea management software 10 innovation lessons for success 10 make it fun! Ideas flow best when the environment created to do so is enjoyable. For example, some companies like to host Innovation Days where employees come together and collaborate in a relaxed and fun way. So don’t be afraid to get creative when encouraging employees to engage in innovation. page 014

  15. author Hi there! I hope you enjoyed my presentation. If you are hungry for more, you can find similar articles over at Innovation Insights. David Christopher, Head of Digital Marketing, Wide Ideas

  16. about Wide Ideas software features more info Wide Ideas innovation software empowers employees to share ideas to business challenges on a global scale, helping to foster a culture of innovation. ✓ Office 365 integration Click to watch video ✓ Artificial Intelligence ✓ Decision Analysis Tool (DAT) ✓ Smart and clean design ✓ Accessible across all devices www.getwideideas.com page 016