In the second post of our Idea Management Programme series, we will show you why instilling and fostering a proper culture of innovation within your organisation is essential to establish a successful idea management programme.
In highly competitive markets, innovation is key to stand out, grow and add value. Markets are expanding faster and product and service life cycles are shortening. To give your organisation a real competitive advantage, innovation must be placed at the heart of your business and organisational models and it must be deployed across all levels of seniority.
Your employees must be encouraged to think strategically, to create, generate and share ideas in order to help build and nurture this innovation culture. Encourage them to think boldly, to take risks, to generate solutions to complex issues and novel approaches to challenge solving. To incentivise your employees you can set innovation goals and even gamify your innovation management programme by rewarding and giving points to the best contributors.
To be successful, the innovation culture must be supported and promoted by senior management. It is important that senior management demonstrate active involvement in the innovation programme; all ideas and suggestions should be acknowledged and reviewed in a timely manner. Employees want to feel valued, empowered and listened to, therefore all contributors should be recognised.
How do organisations ‘power’ their innovation programmes? Enterprise social media platforms and idea management tools are helping enormously. Innovation lies within your organisation’s resources and capabilities and online idea management platforms are being adopted across a variety of industries to uncover and harness ideation, enhance collaboration and remove internal borders. These companies and institutions are using innovation tools to cut costs, improve processes and increase productivity. The McKinsey Global Institute Enterprise reports that organisations could save $9bn to $1.3tn per year by creating value and increasing productivity through the use of social technologies. No wonder online social networks and idea management platforms are becoming common tools within the private and public sectors. You can read the full report here.
Innovating inherently suggests taking risks, and we know organisations can be risk-averse. You cannot innovate without being bold and adventurous! Idea management software will help to push your organisation towards more sensible and collective risk-taking within a secure platform.
You will boost your organisation’s innovation culture by implementing the right tools and programmes but you will also need to successfully engage your employees. By promoting organisational engagement and co-creation, you will enable everyone to play a role in your innovation programme. The voice of your crowd will effectively drive innovation. In our next post we will take a closer look at employee engagement and we will demonstrate why employees should be empowered with the ability to contribute to the innovation process.
To learn how idea management can help your innovation efforts, download our guide “Beginner’s Guide to Idea Management”.