Best Practices

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How to Manage Innovation Exploration With the Support of an Ideation Platform

In this era of change, both small and larger companies are starting to realise that they will not be able to survive if they continue to exploit existing business models without exploring new ones. As such, more and more of these companies are thinking about how to better structure their innovation exploration activities, often through an ideation management platform. Not...

The Top Four Culture of Innovation Best Practices

Innovation lends itself to success by provoking organizations to continuously push for improvement and always be on the lookout for new opportunities. Amazon, SpaceX, Apple, and Salesforce are far better at innovation than others, but this is not by chance. These companies have hardwired innovation into their framework and have ingrained innovation into their organization’s culture, but how exactly do...

The Role of Innovation in New Product Development: Three Approaches for Success

Innovation is essential throughout the entire new product development (NPD) process, but nowhere is it more key than it is in the Fuzzy Front End (FFE) stage. FFE is the starting point of NPD and is where new product ideas are generated before entering the formal development process. Developing a strategy here is key in creating an efficient and cost-effective...

Crowdsourcing: An Innovation Tool to Overcome the Limits of Remote Work

The unprecedented shock caused by the COVID-19 pandemic has forced many organizations to change ways they do business. Almost every business operation has been affected: from the manner firms talk to their customers to the logistics of product delivery to maintaining channels of communication between employees. Corporate Innovation: A Victim of Remote Work? Corporate innovation will not be spared the troubles of adjusting to the “new normal.” One danger...

Does Crowdsourcing Need “Rethinking”?

Benefits of crowdsourcing: Common Misconceptions In my previous post, I gave a working definition of crowdsourcing and described two major crowdsourcing approaches: adding capacity and accessing expertise. I also argued that although numerous organizations – including corporations, governmental agencies, and nonprofits – have used crowdsourcing to solve complex business problems, its wider adoption in the marketplace has been relatively slow. Some...

What is Crowdsourcing, and How Can it Add Value to Your Enterprise?

Since the 2004 publication of James Surowiecki’s highly influential book, The Wisdom of Crowds, the idea that large groups of people can be smarter than a few individuals, no matter how brilliant, has been gradually gaining prominence in academic circles, business communities, and public opinion. Crowdsourcing is one of the most popular applications of this idea. Numerous organizations –including corporations, governmental agencies,...

Innovate, Adapt, Overcome: How to Beat a Recession with Idea Management & Continuous Improvement

In the precarious economic climate, a global recession is an ever-present danger. However, by developing an innovation strategy that anticipates a downturn, you can help your enterprise weather the storm and even uncover lucrative ways to gain a competitive edge. Read on to discover how you can transform a recession into a rejuvenation. Given the devastating impact of the 2007-08...

Building the Hype: 4 Communication Best Practices for Innovation Management

The great Irish playwright George Bernard Shaw once said, “the single biggest problem with communication is the illusion that it has taken place.” Too often, leaders in the corporate sphere assume that once a new project – such as the implementation of an innovation management platform – is announced, users will naturally ‘get the message’ and adopt it as a...

Adding Eye Candy: 4 Visual Best Practices to Boost Engagement on Your Idea Generation Platform

The great Israeli artist Yaacov Agam once said “while the verbal can separate, the visual is understood by everyone.” The same principle holds true when it comes to boosting user engagement on your idea generation platform. Implementing sleek, eye-catching visuals wherever possible will help attract user attention and encourage more participation. By leveraging profile pictures, idea images, gamification badges, and...

5 Innovation Best Practices for Launching Your Idea Management System – Qmarkets’ Head of Customer Success Shares Her Insights

Innovation Exploration – Unlocking Potential in Uncharted Territory The great American oceanographer Edith Widder once said: “Exploration is the engine that drives innovation, and Innovation drives economic growth… So let’s all go exploring.” ? Of course, exploring unfamiliar territory – Edith herself participated in over 250 deep-sea dives– can often be a daunting proposition. However, with the right toolkit, training,...

Managing Change and Innovation: The Past, Present, and Future of 180° Business Transformations

With so much disruptive innovation happening so fast, it has become less and less rare for companies to be formed around a service or product that defines them for their lifetime. In almost every industry, the possibility of pivoting or even shifting the entire business model has become more real and mainstream. As increased consumer awareness transforms markets and government...

Choosing the Digital Transformation Strategy that is Best for Your Company

In one of the Sherlock Holmes stories, Dr. Watson remarks about a client and how attractive she is. “Is she?” says the detective. “I didn’t notice.” In response to his partner’s quip that he really is a human automaton – lacking of emotion – Holmes replies that he is taking emotion out the equation, since it might compromise his detective...

Innovation SOP: Using Hackathons to Advance Digital Transformation

Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. Most companies already know that a digital transformation hackathon is a useful tool for gathering ideas, but companies need to know how to do this right. This week, we look at how companies can use hackathons not as...

Innovation SOP: Overcoming the Hurdles of Innovation in Digital Transformation

Welcome back to Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. Digital Transformation is something that everyone needs to do, but is not always carried out properly, for a number of very different reason. This week, we take a look at the obstacles standing in the...

Innovation SOP: Tips for Today’s Leaders on How to Launch Successful Employee Innovation Programs

Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. Many times, trying to launch successful employee innovation programs at your company can entail encountering many pitfalls and stumbling blocks, as illustrated in this example from the Harvard Business Review. This week, we take a look at how...

How to Create and Scale an Employee-Centric Company Culture to Increase Profitability

The Pandemic of Engagement Employee engagement is a powerful predictor of business growth, productivity, and efficiency. In a study carried out by Canada’s Queens School of Business, data shows that organizations with the most engaged employees accomplish “65% greater share-price increase, 26% less employee turnover, 20% less absenteeism, 15% greater employee productivity, and up to 30% greater customer satisfaction levels.”...

Innovation SOP: Does Effective Leadership Lead to Effective Crowdsourcing?

Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. This week, we take a look at Innovation Leadership – how has the role of the Chief Information Officer (CIO) evolved into the Chief Innovation Officer (CINO), and how important is leadership in the age of crowdsourcing anyway? The ongoing...

Innovation SOP: How Chief Innovation Officers Can Develop Trust Between Work Teams

Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. This week, we take a look at Trust Development – how to successfully develop trust among your employees, and why this should be one of the primary chief innovation officer responsibilities. One of the biggest factors for successful...

Innovation SOP: Driving Corporate Innovation by Bettering Employee Engagement

Welcome to Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. This week, we take a look at innovative employee engagement practices – the benefits of harnessing staff expertise for innovation and how to successfully create culture that supports this. An organization’s employees are vital components in...

Keeping Score: What’s the Right Innovation Scoring Method for Your Ideation Campaign?

When running an idea management campaign, one of the most crucial steps is the expert evaluation stage. Without properly scoring the relevant ideas, focus may be put on ideas which are either impractical or which require too many resources to develop, instead of on ideas which can provide a positive ROI. The question that arises when I discuss this with my clients...

Preparing for the New Paradigm – How a Digital & Disruptive Innovation Strategy Can Transform Your Business

At some point, digital disruption comes for every organization. While some companies might be flexible and lucky enough to ride a wave of disruption and survive, if you are able to predict and prepare for it accordingly you might be able to use it to thrive. Unless well planned and executed, digital disruption – the inevitable deluge of new tools and...

How Dallas is Blossoming Into the Most Innovative City in the South

With almost 1.3 million residents, Dallas is in fact home to more than 40,000 newly started businesses every year, boasting nine accelerator programs and 11 incubators within its municipal limits. However, Dallas is also home to over 20 innovative Fortune 500 companies, including Exon, Wal-Mart, and AT&T, with giants Toyota and FedEx also moving their corporate headquarters to the area...

Successfully Merging Innovation Theory and Practice in your Program

Eric Gabas-Varini is the Partner and Co-Founder of Innovation Framework Technologies, a consulting firm which was founded in Paris, but has since established regional offices in the United States, South Korea & Japan, with a network of associate offices in Latin America and the Middle East. With a strong background in R&D, Eric now uses his expertise to help leading...

The 5 Ideation Archetypes – How You Can Benefit From Strategic Innovation Roles

In a perfect crowdsourcing world, a corporate executive will simply ask employees to suggest their best ideas and wait for the groundbreaking, ROI building, and fully-actionable ideas to roll in from all corners of the company. Every suggestion is easy to understand and build upon, all participate positively, and a new era of ideation descends upon your organization. . The reality,...

3 of the Best Innovation Team Formulas and When to Ignore Them

You’ve heard this cliché many times before: innovation is all about people. Even if you’re an avid fan of artificial intelligence, you hardly expect robots replacing humans as innovators any time soon. And if you agree with another popular cliché, the one saying that innovation is a team sport, you will come to a natural conclusion that in order to...

5 Essential Skills for Every Innovation Leader

Innovation leaders are faced with a very tough challenge, charged with both driving leadership in the traditional corporate sense, but also with facilitating internal innovation, or intrapreneurship, among their subordinates. Canadian thought leader Lynn Sharatt defines innovation leadership as the “process of synthesizing leadership styles to influence employees to produce creative ideas and solutions to the problems that they encounter.”...

3 Corporate Digital Transformation Pitfalls, and How to Overcome Them

Creating change with digital transformation from within your company isn’t easy, but it’s the hardest things which are the ones worth doing. Corporate digital transformation is the path of the future, and if you’re going to embark on a digital transformation journey, you should do it right, from the very beginning. As iScoop put it, “Digital transformation is the profound...

Future-Proofing Financial Market Innovation – Fighting Digital Disruption with Digital Disruption

The term ‘Digital Disruption’ describes the situation where an existing industry is being altered by emerging digital technologies. These new technologies lead to innovations, often creating new markets and value markets that can impact the established leaders in the industry. Financial organizations of all shapes and sizes are being disrupted by small, agile, innovative and technology-oriented companies which offer convenient...

Creativity vs Innovation: The Creative Process And How Idea Management Solutions Fit In

Hardly anybody still doubts that innovation is the biggest driving factor for success today. And most people know that innovation is more than just an idea. Innovation means having a new concept which is an answer for a need or a solution to a problem, and successfully transforming the idea into a solution which will lead to market success. But there are a lot of different...

Learning from German Idea and Innovation Management Best Practices

In my years of consulting and visiting companies I realized that many companies have differences in understanding and implementing an Innovation Management system. So here is a short description of the Idea and Innovation Management landscape in Germany, as well as some “insider tips” on how to make the most out of your idea & innovation initiative: The difference between Idea...

Expert Q&A: Michael Stilger on Performance Excellence and the Continuous Improvement Process

Qmarkets’ SVP of Global Solutions, Michael Stilger, will be leading an innovation ideas session at the 2016 Business Performance Excellence summit, San Francisco, at 17:00 on the 27th of September. In anticipation of this event, we gave Michael the opportunity to share his thoughts on performance excellence, the continuous improvement process, and specifically what we can expect from Qmarkets at BPE 2016....

Majority Rules: Idea Evaluation Criteria & Voting Methods for Efficient Innovation Management

Continuing our series of posts from Qmarkets’ experts, Elio Boton,VP of R&D at Qmarkets, borrows from his experience in designing and implementing various voting methods into the Qmarkets innovation management platform to discuss voting – the importance of voting, how votes constitute an important set of idea evaluation criteria, why you need to implement voting into your Innovation Management platform,...

Who’s Afraid of Innovation Management? – How to take a small step towards innovation, and a giant leap for your company

With crowdsourced innovation now a proven profit maker – many companies are rushing to initiate innovation programs and deploy innovation management platforms. Despite the success of these systems, however, many senior managers are still wary of them. This post will offer a few tips to help you get started with your very first innovation management project. The journey of a thousand...

Aiming High: Qmarkets’ Innovation in R&D Journey Towards Improved Idea Management Solutions

Albert Einstein once said “Why is it I always get my best ideas while shaving?” Unfortunately this is one of the few conundrums which he was unable to provide an answer to, but if I had to theorize, I would posit that it is an issue of perspective. As we sometimes tell our clients at Qmarkets, the key to overcoming...

Delivering Innovation: 5 Insider Tips to Streamline your Innovation Software Implementation Process

Our experts talk innovation – Qmarkets’ employees discuss their personal experiences and provide tips and best practices for the successful deployment of Innovation Management systems: Some will say that there are no bad ideas, only bad adaptation from idea into reality. My name is Joel Ben Nescher, and I’m a Project Manager in the software delivery team at Qmarkets. During my time here at...

Innovation Ecosystem: Bridging the Gap Between Digital and Offline Innovation

Innovation used to be something that would happen in a physical setting, be it in a workshop, a laboratory, research centre, etc. Now, with the advent of innovation software, the process of ideation and collaboration mostly happens online. However, there are innate benefits to innovating “in the real world”, benefits which a digital interaction will never be able to fully...

Innovation from the Innovation Nation – Israel

As the CEO and founder of Qmarkets I have spoken to many organisations all over the world about the potential benefits of utilizing Idea and Innovation Management. Most of the time, the people I meet are unsurprised to discover that Qmarkets is based in Israel, however every now and then I will encounter a person or business who is hesitant to...

Carrot vs Cash – How to Make Your Innovation Incentive Program Addictive

Let’s face it, taking a large group of somber and sensible employees and transforming them into a highly imaginative group of visionaries is challenging. There’s no magic bullet when it comes to ensuring all your employees super creative and innovative. However, having a well-run innovation incentive program in place can help make the task of engaging employees much easier –...

Crowdsourcing Continuous Improvement: Kaizen Principles and Practices for Amplifying Excellence

Many companies seek to improve their operations through the documentation of best practices. From personal experience in a large, multinational enterprise technology company, I saw how well-articulated procedures can be beneficial to the immediate users and their successors. However, these reflect only one person or one department’s experience, and lack collective insights. The Kaizen Management Method is based on the...

Driving Innovation in the Workplace – Is Configuration Crucial?

Up until the turn of millennium, the world of business was stuck in a vicious circle of homogenisation. There was a traditional way of attaining success, and if you strayed too far from this paradigm, then you would lose all credibility and  any chance of being prosperous. Because success relied so heavily on maintaining the sterilised veneer of “business”, radical...

6 KPIs of Innovation Management Solutions

There are certain benefits to innovation software that are difficult to measure, and others that are quite obvious. This blog post will discuss the innovation KPI (Key Performance Indicator) examples for calculating the success of an idea management platform at 6 key stages within the workflow. Determining success at each of these stages within the platform will allow you to...

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