April 11, 2013

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Innovation: Small Ideas for Big Transformation

Innovation can be a scary term for many of us! Why not? In fact, it was the most talked about and sought after word in the last decade on search engines. But, with innovation seemingly possible only by a privileged few and, ordinary people like us are still finding out what it is exactly.

 

While BIG path breaking innovations keep happening at a slow and steady pace, smaller and fast paced innovation come from grass root level employees, consumers, and partners.

 

In fact, innovation in the service industry manifests itself as value additions or ideas contributed by employees who interface with customers. Companies are realizing that by creating the right culture and enabling employees through the right tools and processes, innovation can become infectious.

 

Here are a few things global companies are doing to foster value additions, continuous improvements, and small innovations:

 

Foster and harvest the right culture

 

  1. Idea generation platforms that enable employees to contribute ideas
  2. Measurement of the innovation mechanism ( Innovation Index)
  3. Allowing dedicated time from allocated working hours for innovation
  4. Invert the accountability and ownership to the bottom of the pyramid

 

Recognize, applaud & reward contributors

 

  1. Rewards and recognition for all individual and teams for  contributing to innovation
  2. Setting goals for innovation/continuous improvement/value additions
  3. Performance measurement and evaluation based on contributions to innovation
  4. Driving special programs   and contests on that capture innovative ideas, its implementation and impact

 

Collaborate for transforming small ideas into disruptive solutions

 

  1. Socializing ideas across common communities of interest
  2. Bring customers  and partners together for innovation/and value additions
  3. Integrate disparate groups to bring in varied perspectives and deliver bigger impact from a simple idea (engage, enrich, enlarge, for small-to-big idea transformation)