TMCnet Feature
July 10, 2020

7 Tips To Create An Effective Idea Management Process



Idea management is all about generating new ideas that lead to innovations. Idea management systems provide a way to collect, organize and utilize today's ideas that will become tomorrow’s great innovations.

According to Forrester, 53% of decision-makers are investing in emerging technologies like idea management systems to drive innovation. Idea management adds value to every aspect of a company from employees to efficiency and from productivity to the bottom line.



As this system is all-inclusive, everyone from the high school kid working part time to the CEO has a chance to contribute to the success of the company by expressing their ideas.

Here is a simple guide to create an effective idea management process.

1. Identify challenges and opportunities

Problems and windows of opportunity come from the same source. Customer feedback, feature requests, product suggestions and customer complaints are where the ideas for the next wave of innovation are spawned. Use these opportunities to brainstorm ideas.

2. Understand where ideas come from

Great ideas don’t pop-up only above a certain pay grade or are accompanied by a degree. Creativity is a great equalizer.

Brilliant (News - Alert) ideas float around in the minds of the guy who runs the forklift, the woman who fills the vending machines and even the person who sweeps the floor.

Successful companies are the ones where idea generation is all-inclusive.

3. Collect feedback

Idea management relies on feedback. The opinions of employees are just as valuable as their ideas.

When the idea brainstorming session has netted some intriguing ideas, give employees time to consider and discuss these ideas. Have a system in place where they can easily (and even anonymously if they choose) give their opinions and assessments of the ideas collected.

Ideas lead to other ideas; making feedback one of the most important components of an effective idea management process.

4. Leave no good idea undeveloped

Executing an idea can be a very complex and expensive phase. If the idea in question is simple and related to a minor change in procedure or policy then the expenditure in time and money would be minimal.

If the idea is of a grander nature as in developing a brand-new product or a major productivity upgrade then the idea needs to be exhaustively discussed, researched and looked at from many perspectives.

5. Store ideas like the valuable commodity they are

Do not discard interesting ideas just because they may not be relevant at the present moment.

An effective idea management software will allow you to store ideas of merit in the platform where they are readily accessible at any future time.

6. Implement an automated system

Implementing an effective idea management system can come handy later. All the ideas generated by a brain-storming session may not be useful at present but storing them for future consideration can be useful.

That is where an automated system for idea storage comes in. The latest technology frees up time spent manually cataloguing great ideas for future use.

7. Assign an idea manager

Having one person responsible for the set up and running of the idea management system makes the process more cohesive and efficient. Ideally you want someone who is naturally good at connecting with and motivating others to be an idea manager.

An idea manager must also be able to study and analyze the ideas to identify the ones with the best potential.

Conclusion

As we venture into the drastically changed social landscape of 2020, creativity and innovation will be one of the most important tools for a successful business.

Thus, creating an effective idea management process in your company equals more black ink on the financial statements.

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