Innovation-Bottom Up

John Vinsor points us to an article in the NY Times titled Here’s an Idea:Let Everyone Have Ideas. Very intersting story on how Rite Solutions, a software company engages its employees in the innovation process. Quoting from the article: “… they focus on an internal market where any employee can propose that the company acquire a new technology, enter a new business or make an efficiency improvement. These proposals become stocks, complete with ticker symbols, discussion lists and e-mail alerts. Employees buy or sell the stocks, and prices change to reflect the sentiments of the company’s engineers, computer scientists and project managers — as well as its marketers, accountants and even the receptionist.

One of the products that emerged from this system accounts for 30% of their sales now. This is a nice example of how engaging employees in the innovation process and allowing them to self-select into projects that they are passionate about (which also would result in tangaible benefits at the end of the day) can create value. This is Co-creation of Value by engaging employees in new ways.

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