Saturday, July 19, 2008

Innovation 2.0 to Beat Economic Slump

Slowing economy means meager R&D resources and budgets. The success of organizations in these difficult economic times really hinge upon innovating market-focused products with reduced cost and time to market. More than ever, now it is imperative for organizations to relentlessly harness the power of large pool of consumer, employee and partner wisdom using Enterprise 2.0 technologies.

Innovation Marketplace/Ideas Community is an excellent opportunity for organizations to rapidly discover ideas and tap into group wisdom from employees, customers and partners. Essentially, these Enterprise 2.0 style tools empower participants to contribute to innovation by posting, commenting and rating the ideas that are then evaluated by innovation committee for implementation. Furthermore, social mining and intelligence technologies enable organizations to identify, target, motivate and reward most influential participants.

Courtesy: SalesForce.com

Some organizations that are already reaping the benefits of Innovation/Idea Communities:
1. Cisco (BrightIdea Innovation Management SaaS)

Courtesy: Cisco

2. Dell (SalesFoce.com SaaS) : In Dell words “The goal is for you, the customer, to tell Dell what new products or services you’d like to see Dell develop. We hope this site fosters a candid and robust conversation about your ideas".

Courtesy: DellIdeaStorm

Experian, Honeywell, British Telecom, Bristol-Myers Squibb, Emerson and Harley-Davidson Motor Company are in the long list of other companies that are embracing this Innovation Management phenomena.

1 comment:

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