Today innovation is critical to business success. With customers favouring innovative products and services, enterprises are under great pressure to come up with new ideas and thoughts. Hence, more and more companies are fostering a culture of innovation within their companies. Traditionally idea generation was the responsibility of a selected few; today not only employees, but customers, vendors, partners and affiliates are part of this innovation culture. They are encouraged to come up with new ideas and thoughts to lubricate the wheels of innovation. Hence, idea management is an important process put in place by companies to churn out new ideas consistently. In the ideas management process, an idea management solution is deployed to bring various stakeholders together on one shared platform. When people with so many diverse experiences and backgrounds align themselves towards a common goal, many ideas emerge. The need is to harvest the most viable, save the potential and identify the contributors. A customizable idea management solution helps too: • A record total number of ideas generated. • Post, exchange, discusses and polish new ideas. • Categorize the ideas into unique categories. • Assign and assess the viability and relevance of an idea. • Give credit to contributor of original as well as effective ideas. • Flag potential ideas for future reference. • Select and implement the most effective idea quickly and easily. Let’s take the case of ICICI bank to understand how innovative thinking paved the way for business growth and success. In retail banking, one of the greatest challenges faced by banks was with respect to management of customer relations. Due to the offering of multiple products and the diverse channels used for the distribution of the products, most customers happily switched loyalties to enjoy better privileges, thereby making the task of retaining them more difficult for the banks. ICICI bank came up with an innovative idea to get the competitive edge in the retail-banking sector. It deployed Customer Relationship Management (CRM) that helped them in: • Targeting the right customer. • Offering sales reference material. • Maintaining consistent interface with customers. Such a move on the part of the ICICI bank gained them customer satisfaction as well as customer loyalty. Deployment of an idea management system within an organization can promote not only idea generation but also all-important feedback on the ideas. Thus, when a large group of people collaborate in developing an idea, it can help in perfecting the idea. Read More About: A New Approach To Idea Management, Idea Management & Systems, Crowdsourcing As A Software Development Tool, Leading And Managing Innovation, Idea Management Solutions Open Source
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A New Approach To Idea Management, Idea Management & Systems, Crowdsourcing As A Software Development Tool, Leading And Managing Innovation, Idea Mana,
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