Question

How would you measure the quality of the innovative ideas received from the categories?

What would you do with those employees that provide multiple great ideas since they cannot all get implemented in a timely manner?

Your thoughts?

Answer 1

We can measure the innovative ideas received using two different methods:

Outcome driven innovation:

If the company is in need of an innovative idea that can produce quick results and add value to the company then they should go with this type of innovation. This is all about responding to the market needs quickly and gain a competitive advantage over the competitors. The customers will look for a change from the company and the company will have less time to react. Any innovative idea that can fill that gap and meet the customer needs will be outcome driven innovation.

Opportunistic Innovation: If the company is thinking long-term to create a place for themselves in the market then the opportunistic innovation is the right example. They will have a goal in mind and then they will start looking for innovative ideas that can help them in reaching that goal. The company wants to achieve an increase in sales of 25% over the next two years and they need an innovative idea to achieve that. Opportunistic innovation can take the company in the right direction and help them achieve a good place in the market keeping the competition in mind.

The company should tell the employees what they are looking for and what is the immediate action they are going to take to gain a competitive edge in the market. In the same category if the company receives multiple ideas then they need to do a feasibility study and consider various parameters that can support or hamper the implementation of that innovative idea. So the company can consider all the ideas and tell the employees why they chose the specific idea by sharing the feasibility study results with them. Through this, the employees will also understand the reason behind the decision made and they do not feel discouraged. They can keep the business situation in mind and can keep coming up with new ideas that can help them in making a change in the organization that can make a positive impact on all the employees and the customers as well. Maintaining a transparent communication method will help in a dealing with a situation like this.