IdeaComb Blog

Why Should Companies Invest in Idea Management Consulting Services?

Other than expansion and sustaining in a competitive marketplace another aspect that most forward thinking companies involve themselves, is in idea management and open invitation. Idea management today is not just about creating a new product or strengthening the base for an existing service. It is also about establishing a connection with the consumer at large and encouraging them to share their views and ideas on any given platform.

Sberbank,the largest bank in Russia and one of the largest in Europe has been resorting to idea management consulting services since 2009.Amidst its various open innovation approaches is a permanent crowd sourcing platform and the Market of Ideas, an internal innovation system.

The company in 2012 launched an open innovation competition for developing apps that are devoted to Sochi 2014-the XXII Olympic winter games which were held in Black Sea coastal city of Sochi. This competition witnessed participation from about 10 countries sharing more than 370 proposals. In the initial stages of the competition the public at large voted for their favorite apps on the project website itself. The ones that made it to the next stages were judged by a selected panel of judges. Amidst the winner’s, there was one who created a multinational guide for Sber bank’s clients. Though this open innovation contest was not launched to bring about any breakthrough innovation, it went on to prove the advantages of idea management tactics.

Hence, Companies today are no longer interested in having just idea management software tools that merely helps them to view the agenda at hand in a subjective manner. They prefer solutions that will allow them to involve the crowd and thereby have access to their collective ideas and feedback, that the company makes use of in a productive way.

Similarly, Sanofi-Aventis, United States announced an open innovation contest to arrive at a data mining concept for finding our people having diabetes and if they have the provisions of the desired care they needed. The contest held in 2012 welcomed Researchers, Innovators, Entrepreneurs and Designers from USA to submit their ideas and solutions that could help almost 26 million people having diabetes. Idea submissions were made to the company’s website over a period of four weeks and were assessed by a panel of judges. From the idea submission list five individuals were selected to be part of the design and Prototyping Boot camp, were the members received mentoring and training in prototyping methodologies.

Idea Management and Open Innovation campaigns today paves the path for better society that has the chance of voicing up their thoughts to create a better future. Apart from this, at enterprise level it fosters a culture of improved knowledge sharing.

Posted in Idea Management