10 Initiatives using the crowd to generate new ideas

 

The crowd has been used for idea generation for a very long time with idea boxes, surveys and various competitions and awards. Early examples were the reward offered by the British government in 1714 for a simple and practical method for the precise determination of a ship's longitude, with over £100000 given in the form of different encouragements and awards, or the Orteig Prize of $25000 won by Charles Lindbergh offered by hotel owner Raymond Orteig in 1919 to the first allied aviator to fly non-stop from New York City to Paris or vice-versa.

Recently there have been a growing number of initiatives combining awards, the "American Idol" concept with social networking platforms for idea generation, marketing and recruitment purposes. Below are 10 examples of traditional and non-traditional corporate initiatives:

Cisco I-Prize was an idea competition where the winning team got the opportunity to be hired by Cisco to found a new business unit and share a $250000 signing bonus. Cisco also committed it may invest approximately $10 million over three years to staff, develop and go to market with a new business based on the winning idea. Ideas were posted and commented by others and refined by the community, forming new teams of all-stars sharing similar ideas. More than 2500 idea providers from 104 countries presented 1200 ideas. Winners of the different phases were given access to Cisco's collaboration tools and experts and in the end 12 finalist teams presented for a judging panel. The winning team, based in Germany and Russia presented Cisco with a business plan that improves energy efficiency by using the network as a platform for visibility, manageability and control of energy-consuming systems.

Dell IdeaStorm is an initiative and an online community for anyone to share ideas with Dell and vote for the ones they like. Dell's objective is to connect with its users and get ideas for new products, services and "the way we do business". So far, more than 10000 ideas have been submitted and nearly 400 ideas have been implemented. In addition to the open discussion Dell posts specific questions and areas for customers to submit ideas. There are no material rewards associated with IdeaStorm.

Electrolux Design Lab is an annual global design competition open to undergraduate and graduate industrial design students who are invited to present innovative ideas for household appliances of the future. There are different themes every year and visitors of their online webpage can vote for statements to indicate desire for future themes. Finalists are invited to participate and present their ideas to a jury of high-level designers and experts. Electrolux awards three prizes: 1st place is 5000€ and a 6 month paid internship with accommodations at one of Electrolux global design centers. The 2nd place winner receives 3000€ and 3rd place 2000€. The competition is very much promoted as a way to get jobs and business opportunities and several finalists are currently employed by the company.

Goldcorp issued a now famous challenge to the world's geologists when they provided all their data on the Red Lake mine online if the contestants showed them where they would be likely to find the next 6 million ounces of gold. The prize was a total of $575000 with a top award of $105000. More than 1400 scientists, engineers, and geologists from 50 countries downloaded the company's data and started their virtual exploration. The winners, who had never even seen the mine, were a collaboration by two groups in Australia which together developed a 3D graphical depiction of the mine, used geological-modeling software and database mining tools to find the gold. According to Fast Company Goldcorp has drilled four of the winners' top five targets and have hit on all four.

IBM Innovation Jam has become a famous example where the company's researchers, employees and outside experts are invited to join in a virtual brainstorm session, posting their ideas, commenting and voting for their favorites. The jam consists of interlinked bulletin boards and related web pages on IBM's intranet, supported by systems for centrally managing activity and extracting useful answers to important questions. In the 2006 edition, the largest IBM online brainstorming session ever held, there were 150 000 participants from 104 countries and 67 companies. As a result 10 new IBM businesses were launched with seed investment totaling $100 million.

My Starbucks Idea is an initiative and an online community to gather product ideas, experience ideas and involvement ideas from the crowd. Visitors can share their ideas, view other's ideas, comment and vote to make ideas popular. There is also a blog on ideas in action for users to see how Starbucks is putting top ideas into action. Ideas are chosen based on algorithm (number of votes, comments and recency of post) and by "Idea Partners" inside Starbucks. Providers of ideas that get implemented may be given credits on the site but won't be compensated in any other way.

Netflix Prize is an open competition to improve a collaborative filtering algorithm helping Netflix customers find new movies they would like. In the first challenge the company provided a data set of 100 million of the ratings customers previously supplied and made it available to any programmer together with a baseline of prediction accuracy to beat. To win the competition, the programmers needed to share their methods with Netflix, describe the algorithm for the world and provide a non-exclusive license to Netflix. Every suggested algorithm (more than 44000 valid submissions) was broadcasted on a leaderboard to fuel competition. The grand prize, $1000000, was reserved for the entry which could improve Netflix's algorithm for predicting ratings by 10%. As long as no team won the grand prize, a progress prize of $50000 was awarded every year for the best result thus far. The competition took place between October 2006 and July 2009. In August 2009 Netflix announced it would run a second competition with shorter time spans and the challenge based on demographic data rather than previous ratings.

Nokia Mobile Games Innovation Challenge invites developers to submit mobile gaming concepts to any Nokia N-Gage, Java or Symbian-based Series 40 or S60 device. The three most innovative game concepts are offered Nokia Publishing pre-production contracts, targeting publication or winning concepts and the first winner is awarded with 40000€, the second 20000€ and the third 10000€ for further development of game concepts. The winning participant must agree that Nokia has the right to acquire, subject to a mutually acceptable agreement, the intellectual property or exclusive license to the game concept.

P&G Open Innovation Challenge are events that so far have taken place in the UK where design professionals and entrepreneurs are invited to submit propositions for products which fit P&G's criteria and have the potential to build businesses worth over $100m. To protect the idea providers' intellectual property, ideas are not seen by P&G but are reviewed by its partners National Endowment for Science, Technology and the Arts (NESTA), British Design Innovation and Oakland Innovation. Up to ten of the most promising ideas are given access to feedback, advice and up to £25000 in financing to develop the ideas into a stage at which they can demonstrate commercial viability. Up to five of the strongest applicants are then given the chance to present their finalized ideas to P&G which may decide to invest in the idea and sign contracts. If P&G doesn't invest the creator is free to take the proposition to other brands and or investors.

Virgin Earth Challenge is a science and technology prize to find a viable technology which will result in the net removal of anthropogenic, atmospheric greenhouse gases each year for at least ten years without countervailing harmful effects. The individual or group that is able to demonstrate a commercial viable design will be awarded $25 million, making the award the largest science and technology prize in history to be offered. The challenge will initially be open for five years with the judges including Richard Branson and Al Gore, meeting annually to determine whether a design has been submitted during the previous year that should win the prize.

https://bitly.ws/3eoa9

Core Principles of the Integrated Business Framework. 4 People-Centric

 

4 People-Centric

Summary

People-centric organizing, rooted in the virtuous cycle leadership theory, redefines organizational paradigms by placing humanity at the forefront. Departing from analytical dissection, this approach embraces strength-based solutions, tapping into innate human capabilities and passions. At its core is the pivotal concept of psychological safety, creating environments where individuals feel secure to voice their thoughts, fostering genuine innovation and change.

Involving the entire human system in the organizational narrative cultivates resilience and adaptability, nurturing a culture receptive to change. The virtuous cycle comes alive, as caring for employees empowers them to care for customers, capturing value from their satisfaction. This cyclical process ensures a fair share of proceeds for all stakeholders, aligning with the philosophy that a thriving internal ecosystem catalyzes external success.

This holistic approach not only fuels creativity and innovation but reinforces the notion that when people are genuinely valued and involved, they become the driving force behind transformative evolution. Integrating the virtuous cycle leadership theory into people-centric frameworks is an invitation for organizations to prioritize employees and reap the cascading benefits of a flourishing internal ecosystem, fostering sustained growth and shared prosperity.

Psychological Safety

Psychological safety refers to an individual’s perception of the consequences of an interpersonal risk. It is the belief that one can express thoughts, questions, concerns, and ideas without fear of punishment or humiliation. In environments where psychological safety is fostered, individuals are more inclined to take creative risks, experiment with new approaches, and voice unconventional ideas. 

Such a foundation is critical for creativity and innovation because breakthroughs often arise from challenging the status quo. When team members feel secure in sharing and iterating upon diverse perspectives, it accelerates collective problem-solving and paves the way for groundbreaking solutions. Fear of reprisal can stifle this creativity without psychological safety, preventing organizations from unlocking their full innovative potential.

Positive Inquiry

Positive Inquiry™ encourages organizations to venture beyond problem-fixing and explore innovative approaches to tackle emerging challenges. By shifting our focus from predicting outcomes to understanding the underlying forces at play, we gain the ability to anticipate and adapt to shifting landscapes. This proactive stance empowers organizations to weather the storms of change and thrive amidst uncertainty.

We become agents of positive change by engaging all relevant stakeholders in positive conversations. By sharing stories about our greatest achievements, we transform as the awareness of our strengths grows. This will give us the much-needed hope, courage, and excitement to embrace transformation and uncover new possibilities, seize untapped opportunities, and build resilience in the face of VUCA.

Roundtables

A roundtable setting in decision-making and governance processes emphasizes equality, collaboration, and open dialogue. Its circular configuration inherently eliminates hierarchical distinctions, allowing each participant an equal voice and visual access to all others. This democratic setup fosters active participation, encourages diverse perspectives, and facilitates transparent communication. 

Benefits include more holistic decisions, increased buy-in from stakeholders due to the inclusive nature, and a reinforcement of trust and mutual respect among participants, making the roundtable a potent tool for fostering unity, clarity, and effective governance.

Leading from the Whole

Leading from the Whole, as championed by the RoundMap approach, taps into the collective intelligence and expertise of an organization’s entire human system, irrespective of hierarchies. Such inclusivity garners diverse perspectives, enabling richer insights and swift, informed responses to change. This distributed leadership style fosters a shared sense of ownership, promoting resilience and adaptability. By cultivating an adaptive culture and empowering its workforce, organizations are better poised to navigate uncertainties, fostering agility and a proactive stance in the face of evolving business landscapes.

https://roundmap.com/

Core Principles of the Integrated Business Framework. 2 Impact-Driven. 3 Value-Based

 

2 Impact-Driven

Summary

In the spirit of the RoundMap principles, the impact-driven core principle embraces the powerful notion of driving meaningful change within and beyond the organization. Every facet of operations is analyzed, formulated, implemented, and evaluated for its impact.

Under this principle, businesses are not just attuned to the consequences of their actions but actively weave impact measurement, management, and optimization into their strategic fabric. The Impact-driven principle involves a four-step recursive process: Impact Analysis, Impact Formulation, Impact Implementation, and Impact Evaluation.

Ultimately, an impact-driven organization is one that aligns its core objectives with its desired positive effect, ensuring its business strategy actively seeks and drives opportunities to enact beneficial change. It understands that impact analysis is a dynamic process, requiring continual refinement and adjustment – similar to a well-oiled machine that requires regular maintenance for smooth operation.

Through this, organizations strive to create positive shifts, differentiate themselves, and enhance their long-term performance while contributing to the global tapestry of change.

3 Value-Based

Summary

Value-based emphasizes the importance of prioritizing the creation of meaningful value for customers before considering how to capture value for the stakeholders. Instead of solely pursuing short-term profits or fixating on building transient competitive advantages, a value-based organization commits to principles that reflect its intrinsic ethos, ensuring long-term sustainability and engendering trust among stakeholders. 

Such organizations recognize that genuine value is multifaceted. While financial growth is crucial, it’s equally important to prioritize ethical practices, social responsibility, employee well-being, and, most significantly, consistently delivering meaningful value to their customers. By aligning their operations and objectives with these guiding principles, they build a solid corporate culture, fortify customer relationships, and ensure customer, employee, and partner loyalty. 

In a nutshell, being value-based is about grounding business practices in principles that prioritize the customer’s needs and fostering a broader sense of purpose beyond mere profit-making.

The ValueActor™

The concept of a ValueActor is rooted in the intricate workings of a value-driven ecosystem. At its core, a ValueActor is an active entity in the value exchange process, whether an individual, organization, or other form. Structurally, a ValueActor comprises three primary components: an intake funnel for value reception, a value-processing unit that refines and manages value, and an output funnel for value dissemination. It operates in a dual-mode system, characterized by a value deficit on one end and a value surplus on the other. The objective is symbiotic; a ValueActor seeks to address its deficit by harnessing surplus from others while simultaneously aiming to dispense its surplus to those in need. 

Crucially, communication is vital in this ecosystem. A ValueActor signals its value mode, whether a surplus or deficit, through compelling stories, enabling effective and efficient value exchange. Additionally, in pursuing this value-centric operation, a ValueActor must capture value equivalent to or more than the cost of its value creation, ensuring sustainability and perpetuity in its role within the ecosystem.

The ValueCircle™

The ValueCircle™ offers a holistic framework that synergistically amalgamates the strengths of the value chain, value stream, and value network theories, thereby transcending their constraints. It champions end-to-end value creation from raw materials to final customer delivery, underpinned by Lean principles prioritizing waste reduction and iterative refinement. 

Beyond mere linear processes, ValueCircle embodies a collaborative ecosystem of interwoven stakeholders—from suppliers and partners to competitors—all aimed at shared value generation. This structure accentuates customer-centric co-creation, ensuring organizational actions are anchored in real-world needs and active customer engagement. 

Guided by an ethical compass, ValueCircle’s positive core shapes decision-making, ensuring alignment with organizational values. Embracing the dynamism inherent in the value network theory, it promotes adaptability, readiness to shift with changing landscapes, and the elimination of inefficiencies like siloed operations. In essence, the ValueCircle represents a transformative approach to value creation, seamlessly intertwining optimization, collaboration, ethicality, and adaptability within a cohesive and interconnected paradigm.

Roles-to-Play

In the intricate tapestry of a value-driven ecosystem, a ValueActor is a veritable nexus of activity, seamlessly transitioning between various pivotal roles:

• As a producer, it generates novel value,
• and as a supplier, it offers this value to other actors within the system.
• In its capacity as a consumer, it absorbs and benefits from the value generated elsewhere in the ecosystem.
• As a regulator, it helps establish the guiding principles for value exchange,
• and as an enforcer, it ensures adherence to these norms.
• A ValueActor doesn’t stop at merely obtaining value; it further refines and elevates it as a refiner. 
• Acting as a facilitator, it paves the way for smooth interactions and transactions, 
• while in the avatar of a distributor, it ensures that value reaches its intended recipients. 
• The ValueActor’s job as a communicator is to signal needs and offerings, fostering transparency and mutual understanding. 
• By serving as an integrator, it weaves together disparate entities, strengthening the interconnectedness and resilience of the ecosystem. 

Yet, amidst these manifold responsibilities, it still fosters innovation, perpetually seeking better, more efficient methods of value creation and exchange in its ever-evolving role as an innovator.

Jobs-to-Perform

The Job-to-Perform concept, based on the JTBD,  emphasizes understanding the underlying tasks, goals, or needs individuals or organizations seek to accomplish. Instead of focusing merely on the product or service, it zeroes in on the fundamental problem or aspiration driving a consumer’s decision-making process. By identifying and framing these Jobs-to-Perform, businesses can design solutions that more effectively address their target audience’s true desires, ensuring a more tailored and value-centric offering that resonates deeply with the end user.

Value-driven Leadership

Value-driven leadership underscores the necessity of offering intrinsic and enduring value to every stakeholder, transcending a mere competitive mindset. These leaders prioritize the aspirations and anticipations of customers, employees, and the wider community, firmly anchored in the conviction that authentic value generation forms the cornerstone of lasting success. Instead of reflexively responding to competitors, they proactively enhance their portfolio, services, and organizational ethos. 

Central to this proactive approach is the integration of effective feedback loops or learning cycles. By systematically capturing and processing feedback from various touchpoints, leaders can continually refine their strategies, ensuring that the value created remains deeply relevant and resonant with their audience’s evolving needs. Through cultivating an environment of perpetual enhancement and spotlighting tangible impact, value-driven leaders foster trust and loyalty and fortify their organization’s reputation in an ever-fluctuating competitive arena.

https://roundmap.com/

Business Strategies and Frameworks. Part 4

 

https://youexec.com/

Core Principles of the Integrated Business Framework. 1 All - Round

 

Introducing the Core Principles of the Integrated Business Framework

 

Welcome to our guide on the Core Principles of RoundMap®—your compass to conquering business complexities and propelling sustainable growth. RoundMap®, not just a framework but a holistic ecosystem, fortifies modern organizations with crucial insights and strategies sculpted around its foundational principles.

At the heart of RoundMap® lie eight robust principles: An All-Round Approach, Impact-Consciousness, Value-First Orientation, Human-Centricity, Story-Driven Engagement, Consentric Alignment, Distributive Leadership, and Augmentative Innovations.

Our guide will delve into understanding each of these principles, exploring how they drive the effectiveness of RoundMap® across diverse business contexts. Beyond theoretical knowledge, you’ll gain invaluable insights into how these principles can be put into action, propelling your organization towards achieving sustainable prosperity.

Whether you’re a seasoned leader, a start-up entrepreneur, or an aspiring business professional, gaining insights into these principles will empower you to navigate the intricate corridors of the business landscape with confidence. Prepare to embark on a journey of profound learning that will fundamentally redefine how you perceive and act within the business world.

Unravel the RoundMap® framework, derived from its eight core principles, to illuminate your pathway toward sustained relevance and prosperity. Dig in, and let your journey toward business excellence commence.

1 All - Round

Summary

 

The RoundMap® Advantage: At the heart of RoundMap® lies a transformative approach that unifies all facets of organizational dynamics, ranging from strategy to stakeholder engagement. This comprehensive framework underscores the interconnectedness of organizational components, pushing past departmental barriers and offering a cohesive roadmap to decision-making and value delivery. Applicable to diverse entities — from businesses to nonprofits — RoundMap® serves as a beacon, guiding organizations to convey resonating messages and deliver unparalleled value. 

As the business landscape shifts, marking change as its only constant, growth is no longer linear but cyclical. Traditional business cycles offer insight into these oscillations. However, success hinges on agility and adaptiveness to these patterns, with a keen understanding of value creation and optimization. Cyclical leadership, an approach adaptable to market rhythms, paired with a value-driven ethos, ensures organizations prioritize long-term, multifaceted value. Simultaneously, human-centric design emphasizes the importance of fostering environments promoting innovation, psychological safety, and the holistic involvement of individuals.

Innovative Organization with RoundMap®: The Consentric Distributed Leadership Model (CDLM or Consentricity) championed by RoundMap® revolutionizes traditional structures. It places value creation at its epicenter, surrounded by distinct echelons from inner circle counselors to the constellation of teams in the outer ring. This structure fosters harmonious collaboration, ensuring aligned objectives and consent-driven decision-making. 

RoundMap® doesn’t just stop there; its augmentative prowess integrates deep thought with advanced business intelligence. The 48 Thinking Caps tool offers an exhaustive view of business operations, empowering executives to dissect every aspect of their organization. Coupled with augmented intelligence and generative chat agents, RoundMap® maps out business dynamics meticulously, emerging as an indispensable asset for leaders in a complex business era.

All-encompassing

 

RoundMap® is an all-encompassing framework meticulously designed to integrate every facet of organizational dynamics. Whether addressing strategy, operations, marketing, or stakeholder engagement, RoundMap® offers a holistic view, ensuring that no element is viewed in isolation. It recognizes the interconnectedness of all organizational components and promotes a cohesive approach to decision-making and value delivery. 

By providing a comprehensive roadmap transcending departmental silos and industry-specific challenges, RoundMap® empowers organizations to achieve optimal coherence, drive alignment, and ensure that every action contributes harmoniously to the overarching objectives.

Universally Applicable

 

RoundMap® is a universal framework designed to address a foundational challenge inherent to all types of organizations, commercial entities, educational institutions, government bodies, political parties, or non-profits. Every organization’s core lies in conveying a message that resonates with a target audience, offering them distinct and tangible value. Whether it’s a product, a service, an idea, or a mission, the goal is to establish relevance and create a meaningful impact. RoundMap® is a guiding tool in this endeavor, helping organizations navigate the complexities of value delivery, ensuring that their message reaches and resonates deeply with the intended audience, and fostering engagement, trust, and loyalty.

 

Non-linear Growth

 

In the evolving landscape of business and economics, growth no longer follows a linear trajectory. Rather, the prevailing notion is that change is the new normal, compelling us to understand growth in non-linear terms. Growth has increasingly become cyclical, oscillating through various phases instead of ascending in a straightforward manner. 

Traditional economic business cycles, such as Kitchin, Juglar, Kuznets, Kondratiev, and debt cycles, offer a historical lens through which these non-linear patterns emerge. However, this cyclical nature is not exclusive to macroeconomic trends; it extends to microeconomic elements like product growth and customer growth. These cycles underscore the potential for growth by outlining patterns and seasons, lending a degree of predictability. 

Yet, it’s essential to acknowledge that even with these patterns, growth remains complex, influenced by various internal and external factors. As such, businesses and policymakers must be agile, adaptive, and well-versed in these cycles to navigate the multifaceted terrain of growth.

Cyclical Leadership

 

At its essence, a market participant is driven by the ethos of efficient value creation and optimization, always aiming for the cost of value production to be lower than the value retrieved upon its delivery to the market. However, in the VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) world, organizations might confront scenarios where the expense of realizing value temporarily surpasses its creation. This deviation doesn’t detract from the ultimate goal of profitability but underscores the imperative of adaptability and building resilience for the future. 

Herein lies the significance of cyclical leadership—a leadership style that recognizes the inherent ebb and flow of business cycles, adapting strategies and tactics in response to the changing rhythms of the market. Rather than being linear and fixed in approach, cyclical leaders iterate, pivot, and evolve, ensuring their organization’s long-term viability and competitiveness in perpetually evolving market terrains. This agility and cyclical perspective position organizations to weather challenges and capitalize on emerging opportunities.

https://roundmap.com/