In yesterday's New York Times there was a
great article about Rite-Solutions, a software company that builds advanced and classified stuff for the Navy. (Free registration may be required to read the full article.)
Update - click here to read the orginal article without the need to register with the NYT!
The owners of this firm realized that if they wanted their business to grow and thrive they needed to get everyone's ideas and everyone's input.
So they built a marketplace . . . for ideas.
From the article . . .
" . . . 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."Each person is given $10,000 in "opinion money" to invest in this marketplace (they have 55 "stocks" listed currently). People's investments show their enthusiasm, and more importantly, willingness to volunteer to work on the idea. Volunteers share in the proceeds if the stock generates cost savings or a new product.
In case you think this is just a fun and expensive way to automate the employee suggestion box - and that the 55 ideas are small improvements, one former stock on the exchange resulted in a product that is now 30% of the company's revenues. Co- founder Joseph Marino asks . . . "Would this have happened if it were just up to the guys at the top?" And then answers his own question . . . "Absolutely not. But we could not ignore the fact that so many people were rallying around the idea. This system removes the terrible burden of us always having to be right."
Perhaps your organization doesn't want or need to implement a system this elaborate. Either way, the power of having systems that encourage and illuminate ideas can not be overlooked.
Are you collecting, valuing, categorizing, discussing and
using the ideas of everyone in your organization?
If not why not?
Valuable questions to ask yourself today.
Unleashing Your Remarkable Potential is Kevin Eikenberry’s guide to helping you have amazing success while developing your professional and personal potential.
To provide you with resources, techniques and ideas (and some other interesting stuff) to help you reach your professional potential.
