State farm idea management

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1.Idea Management at State Farm Systems Integrators and Knowledge ManagementCarol Csanda Director Strategic Resources State Farm Insurance Company May 18, 2010 2. What is Idea Management? Systematic program to promote targeted innovation Usually a series of topical, time-boxed challenges Allows groups to capture, collaborate, develop, and rate ideas3. Two Types of Idea Management Campaigns Broad-based campaigns Usually with Executive Sponsorships Ideas will end up in the funnel Resources may be across multiple departments Local campaigns Campaigns run at the unit, division, department level Sponsorship and review teams from local area Ability to implement ideas selected with given resources 4. Industry Success Companies who have used Idea Management: IBMs Innovation Jam Starbucks My Starbucks Idea Dell Computers IdeaStorm Our vendors clients have claimed in excess of $350 million cost savings in 2007/2008: Cargill Dow Chemical Wal-Mart Merck Whirlpool 5. Phases of an Idea Campaign Planning Idea Harvesting Idea Submission Commenting (collaboration /refinement) Peer Rating (a.k.a. star rating) Review Processes Review Team Executive Summary/Business Case Development for Top Ideas Leadership Reviews Selection of Ideas for Implementation Communication of Results 6. KM Team Roles As the business sponsor for Idea Mgmt at SF, the Knowledge Management team within SR provides consulting services to business partners desiring to pursue Idea Mgmt campaigns. Initially, this will be done in partnership with the KM Leads As knowledge transfer completes, the KM Leads will become the primary point of contact within their respective organizations for Idea Management. 7. Business Partner Roles Sponsor of the campaign Define the goal statements Establish success criteria Communications to participants Review Team Review ideas Prepare business cases for executive review Provide conclusions for ideas which includes feedback to the idea generators Facilitate hand over from the review team to implementation teams, if appropriate 8. Business Partner Roles, Contd Executive Review Team Selects which ideas are approved for execution Sponsor of the campaign Provides funding for approved ideas Assigns ownership for execution upon approved ideas Tracks progress Communicates results of campaign and progress on executables 9. Review Processes Can use only star rating Can involve multiple review rounds Can use weighed criteria to narrow the field of ideas Can use consensus or individual review Can request additional development for additional rounds of review (e.g. Executive Review)10. Rating Criteria Broad Campaign Feasibility The concept is feasible Fit The concept enhances our brand Risk the risks are acceptable to develop Competitive Advantage Early Adoption SponsorshipCompetency Pace Benefit Leverages Core 11. Leadership Idea Campaign 7,000 Leaders asked to respond to: How can State Farm use Social Media to be more relevant to consumers? What products and services will Gen Z want from State Farm in 10 years? 12. Results 400 ideas submitted 3500 people contributedFrom these: Selected 35 ideas for Review Team for Social Media Selected 90 ideas for Review Team for Gen Z Top 10 in each group to Executive Review Selected 5 from each group


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