Wednesday, September 29, 2010

How Idea Management Systems Make Us Wealthy

In the success philosophy movement, motivational speaker Jim Rohn was fond of saying that the most compelling reason for becoming wealthy was not for the riches we acquire on achieving our goals, but for the personal qualities we must acquire as human beings during the process of becoming successful.

Rohn told us that in order to achieve sustainable high levels of success - measured in terms of financial outcomes - we must first somewhere along the path develop a good business sense, acquire an ability to form and maintain relationships of trust and mutual support, and attain the ability to lead, persuade, sell, and hire and manage people without violating that trust. To achieve high levels of success demands from us high levels of character, learning, and personal development. In achieving the outcome of wealth, we also necessarily achieve significant outcomes that we may not have anticipated, or consciously intended, when starting out on the path to success.

It is similar with organizations. As discussed previously on, we pursue innovation and Idea Management because of one or more of the 4 Drivers Of Innovation. That is, we aim to increase revenue growth, reduce costs, differentiate from the competition, and maintain relevant in a changing world, and we do this ultimately to increase our profitability sustainably in to the future.

But the process of implementing an Idea Management System to achieve these elevated levels of wealth demands much more from us. We grow and change along the way. Here are just a few examples:

  • As people from across your organization step in to the world of possibilities and suggest ideas and then see their ideas assessed, implemented and actioned leading to real results that make a difference, people begin to be engaged and excited about what is happening in the organization. This leads to high levels of motivation, higher levels of input of energy and time, more staff satisfaction, greater staff retention, and the ability to attract even more qualified and high potential candidates for new roles. 
  • As people see ideas being proposed, and work together in teams to assess, develop and implement the ideas suggested, Idea Management can lead to greater knowledge sharing and the building and enhancement of strong working relationships.
  • In our path to innovation maturity, we must start thinking about the processes required for effective innovation management, and further develop and enhance our innovation processes - and our general level of process maturity

Implementing Idea Management Systems does help us become wealthy, in the hard-nosed economic and business sense implicit in the pursuit of the 4 Drivers Of Innovation and the resultant business outcomes. However, successfully implementing an Idea Management System does much, much more, and provides a different kind of wealth to our organizations. It allows us to become better at what we do, make our workplace a better place to work, bring out the best in our people, and make a difference to the world.

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