What is Idea Management?
Businesses are facing constant pressure these days for creating new and better products and services. For doing so, an innovative culture is required to be cultivated by businesses and it can be done in the best way with the help of idea management. On the basis of the knowledge acquired from the Innovation Management course, some best practices on idea management has been highlighted in this essay which can be applied in this large company FedEx. The company is known for its overnight delivery services and innovative package tracking system that provide real time updates regarding the location of the package. Such features have now been copied by a number of other carrier services (FedEx, 2018). FedEx requires innovation to be made at every step in order to maintain its position in the market. This can be done by way of introducing idea management in the organization.
Idea management can be defined as the systematic process through which new ideas coming from customers, employees or other stakeholders can be managed (Blokdyk, 2017). In other words, it is the ability of effectively capturing the insights or feedback from internal and external stakeholders for the addition of this feedback into the future product releases. It consists of three dimensions namely the recognition of need for ideas, generation and collection of ideas and evaluation of ideas (Lasrado, 2014).
The best practices for idea management are required to be taken into consideration for its effectiveness. For the purpose of justifying the time, efforts and money spent on programs related to idea management, the company needs to ensure that certain practices are in place. Such practices include a clearly- defined idea management program or system for the employees of the organization so that they can easily submit their ideas (Vieira, Lima, Bermejo & de Souza, 2015). This will further allow easy tracking of ideas by the company. The idea management system brings an ease to the process of idea management thereby making it open, collaborative and effective. It enables structured capturing and assessment of ideas within an organization. Increased revenues is enjoyed by the companies that effectively follows this process and have a more engaged and productive employees (Walton, Glassman & Sandall, 2016).
The Innovation Management theory provides the capability frameworks and allows the company to plan the introduction, delivery and evolution of new technologies in the market by way of creating an innovation strategy (Bouwer, 2017). It can assist FedEx in improving its services as it will come across its capabilities and will be able to provide innovative services.
Best Practices for Idea Management
The engagement of an idea manager or idea champion for overseeing the entire program, organizing campaigns or workshops and for motivating the employees and encouraging collaboration plays an important role in idea management. Such idea manager ensures that entire program progresses without any hurdles. It will help FedEx as the idea manager will ensure the circulation of information related to the idea management programs and systems and will take necessary steps for the purpose of encouraging the employees of the organization to effectively contribute towards the program (Robinson & Schroeder, 2014). The task of such champion will be to plan, enthuse, direct and control the process by which ideas are encouraged and developed. For example, Vodafone significantly managed to redevelop its headquarters and areas for relaxation of employees with the help of an idea manager (Newenham, 2013).
Idea management should also include an open system for the employees at all the levels for the purpose of creating a vast pool of ideas from a diverse workforce. Such practice will benefit the organization as the employees working at the lower levels may also have talent of offering tremendous ideas which have the capability of resulting in the success of the organization (Sadriev & Pratchenko, 2014). When employees belonging to all the levels in the organization will be offered an opportunity for providing their ideas, they will realize their importance in the organization. This will encourage them to make further efforts for its success. Google accept ideas from all the employees by offering an open system. However, this idea is not the backup of the idea champion program since the idea champion will be required for the effective progress of the program.
Moreover, a process is required which constantly ensures that an idea is acknowledged and is not dismissed without providing any satisfactory reasons. With the introduction of the idea management systems, the employees will be able of witnessing the progress of their ideas in terms of selection, comments of other employees on their ideas, etc. Therefore, for effective idea management, the management should involve the practice of acknowledging all the ideas by commenting the factors which were innovative in the idea. The acknowledgement is also required to be made regarding the overview of management on the idea and providing satisfactory reasons for its dismissal. It will not lower down the confidence of employees and they will not get disheartened for providing further ideas (Menon, 2017).
Idea Management System
Moreover, for effective idea management, the best practices also involve the adoption of an innovative culture by the management (Moreland, 2012). Management plays an important role in guiding the behavior of employees. When management itself will adopt an innovative culture then all the employees will also be encouraged to follow the path set by management. The adoption of innovative culture by management specifies the belief that innovation is not the authority of senior management but can come from any of the employees in the organization
Among the number of best practices on idea management, the company should stick to the adoption of an idea management system for bringing innovation and improvement in the delivery services provided by it (Moreland, 2012).
Traditionally, suggestion boxes were utilized for the purpose of capturing idea where ideas were selected for further development and rarely any feedback was given on the outcome of ideas. Currently it is not being used by the major companies, as all of them have switched to idea management systems. With the emergence of technology, this job is made easier with the help of idea software. Idea software can be used as a system for capturing the ideas. These systems are cloud based online tools which can be easily accessed by all employees. No installation and minimal set up is required by these web- based systems. Moreover, it can be accessed from any device- tablets, PCs or smartphones (Kathryn, 2012). These systems allow more collaborative and open generation and evaluation of ideas.
Such idea software should be utilized in the form of idea management system as it is the simplest form in which a way is provided to the employees for submitting ideas for evaluation by others (Milan & Dorian, 2015). It should be used because it will offer a number of benefits to the company. It will focus the creative efforts of employees around the goals and objectives of the company. It will encourage the employees for capturing all of their ideas. This is done with the help of idea management systems which encourages sharing of ideas, further improving and acquiring knowledge by viewing the ideas of others (Gallmeister & Lutz, 2015). Sharing of best practices is encouraged by the idea management systems. Such systems enable quick and cost- effective sharing of best practices successfully used in one location with other locations. Moreover, speed to market is also increased with the help of these systems. They not only provide a valuable tool set for the development of new products and service ideas but can also provide improved results from corporate cost- reduction initiatives. Furthermore, such systems keep the employees informed regarding what is happening to their ideas. It is an open and transparent system that allows everyone to see and provide the feedback on all ideas. It will also assist in recognizing the key collaborators and innovators in the company (Bergendahl & Magnusson, 2014).
Engagement of An Idea Manager
Alternatively, FedEx can use innovation- centered idea management system which will significantly aim at fostering radical ideas and focus on new and innovative services.
The effective implementation of idea management system can be ensured by following proper steps. The first step requires the launch of idea management system in project mode. Like any other project, it will assist in reflecting on which objectives are required to be reached, who are the participants, time frame, budget, tools and the process. The second step requires gathering of ideas (Shi & Tuo, 2014). This means that this step requires internal communication, educating for fostering enthusiasm and removing obstacles or potentially providing training in the tools. The employees might require to be convinced for providing ideas through such system (Gaubinger, Rabl, Swan & Werani, 2015). The third step is very crucial and involves evaluation and election of ideas. Among all the ideas that are put forward by the employees, it makes the identification of ideas that are most relevant, linked with instructions and are achievable. Several ways can be adopted for the completion of this process: by the coordination team, peer review by co- workers, by chosen internal or external experts or by management. The fourth step is concerned with the implementation of ideas. This is the ultimate goal of setting up of idea management system i.e. to launch new initiative arising from the ideas of employees. In this step, the important factor is to follow the ideas thoroughly to completion. The fifth step consist of management, follow- up and evaluation. Like any other project, organized management is required by innovation management. This step involves checking the accomplishment of objectives, monitoring and measuring the performance of pre- defined indicators, taking lessons from difficulties/ mistakes and taking required measures for improving the process. A continuous improvement approach is involved in the idea management system. Proper management and proper implementation of idea management system is guaranteed by following these steps respectively. Each and every step is equally important for ensuring the selection and implementation of ideas collected. Communication is considered to be a key for the successful implementation of idea management system in the organization (Goodman & Dingli, 2013). DHL, the competitor of FedEx, have effectively implemented idea management system.
For encouraging the employees to use idea management system, firstly the company should make the employees understand what idea management system is, the way of using it and the benefits arising from the system to the organization. This is related with the social exchange theory as the expectations of the employees from the organization can only be fulfilled when they will make their contribution towards the organization. Moreover, the idea management system needs to be transparent which will encourage the employees to get involved, build on ideas and better understand the objectives of the organization. The organization should make the employees feel involved and engaged. The ideas should be welcomed from all the levels of the organization (Alexe, Alexe & Militaru, 2014).
Open System for Employees
Moreover, for the purpose of ensuring that the employees make the use of idea management system, the company should aim at making the employees happy by way of developing and maintaining effective recognition and rewarding systems. The rewards and recognition system for employees is a positive thing to be offered to employees (El Haiba, Elbassiti & Ajhoun, 2017). It is also important to communicate it to the employees as it will act as the motivation for employees and will encourage them to ideate. The successful ideas of employees which presented outstanding results for the organization should be rewarded. When the performance of the employees will be sufficiently acknowledged and is provided with much needed recognition before entire team then the employees are significantly encouraged for performing better and putting in more efforts in the future projects. Moreover, employees should be provided enough knowledge to make them understand that their ideas are of prime importance to the organization. The company should also make them understand that the success of the organization is completely dependent on the contribution of ideas by the employees (Mikelsone & Liela, 2016).
FedEx is required to implement new ideas such as using drones and robots for providing fastest delivery to the customers. Drones are being used by only two countries and such services are not available to the all the parts of the globe. FedEx should take the advantage of such situation and provide 30 minute delivery options to the customers. Such kind of suggestions will help FedEx in improving its performance in the market.
Therefore, it can be concluded that the best practices on idea management are required to be put in place for the purpose of justifying the time, efforts and money spent on programs related to idea management. Since FedEx need to provide innovative service options to its customers, it needs to take into account idea management by keeping into consideration the best practices. The best practices involve the implementation of idea management system, appointment of idea manager, involving employees belonging to all the levels in the organization, acknowledgement of ideas and adoption of innovative cultures by the management. Idea software can be used as a system for capturing the ideas. The effective implementation of idea management software system can be ensured by involving the employees through communication and following a series of steps. Moreover, the employees can be encouraged for making the use of idea management system by developing adequate reward and recognition system. Understanding should also be created among the employees that their ideas are very important for the success of the organization.
Acknowledgment of Ideas
References
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