As organizations implement idea submission systems such as Sherlock Waste, there is the challenge of managing the growing number of submissions. Submitted ideas can range from process improvements to product innovations, and while each submission may seem important, not all can be implemented immediately. The key to successfully managing a large number of ideas is to use appropriate prioritization and selection strategies.
In this article, we will discuss how to effectively manage a large number of submitted ideas, what prioritization strategies are worth using, and how to select those with the greatest potential. We will also outline how a tool such as Sherlock Waste can support this process.
Table of Contents:
- The challenges of managing a large number of submitted ideas.
- Prioritization strategies - how to choose what is most important?
- Criteria for selection of ideas - what to look for?
- Sherlock Waste - how does the tool support the selection and prioritization process?
- Benefits of effective management of submitted ideas.
- Summary - effective idea management as a key to innovation.
1 Challenges of managing the large number of ideas submitted
Managing a large number of submitted ideas is a process with many challenges. As the idea submission system becomes more popular, the number of submissions increases, and the company has to deal with:
- Diversity of ideas: Submitted ideas may cover different areas of business, which makes selection more difficult. Some ideas may be about process improvements, others about product or service innovations.
- Limited resources: Every organization has limited financial and human resources, which means that not all ideas can be implemented immediately. Therefore, it is necessary to manage these resources effectively.
- Lack of appropriate tools for organization: In traditional systems, such as Excel or paper forms, managing large numbers of submissions can be time-consuming and inefficient. The need to manually select and evaluate ideas can be a heavy burden.
- The need to involve many people: For ideas to be evaluated effectively, it often requires the involvement of many people in the organization, which can lengthen the process.
2. prioritization strategies - how to choose what is most important?
To effectively manage the large number of ideas submitted, it is necessary to use appropriate prioritization strategies. Here are some proven methods:
- Eisenhower method: Divide ideas into four categories according to two criteria: urgency and importance. Ideas that are both urgent and important should be implemented first, while those that are less urgent but important should be implemented later. Ideas that are neither urgent nor important can be postponed or ignored altogether.
- Matrice evaluation of ideas: Ideas can be evaluated according to two main criteria: the potential impact on the organization (e.g., savings, quality improvement, efficiency gains) and the cost of implementation (e.g., labor time, investment). With this method, it is easier to determine which ideas will bring the greatest benefit at the least cost.
- Cost-benefit analysis: A basic strategy that compares the cost of implementing an idea with the anticipated benefit. Ideas with the highest cost-benefit ratio are prioritized.
- Employee voting: The ability for all employees to vote for the best ideas can be an effective method of prioritization, especially in organizations that value involvement and democratic decision-making.
3. criteria for selection of ideas - what to pay attention to?
When selecting ideas, it is worth paying attention to several key criteria:
- Magnitude of potential savings: Ideas with the greatest potential for savings or efficiency improvements should be prioritized.
- Alignment with the organization's goals: Ideas that are in line with the company's long-term strategy will have a greater impact on the company's growth, so it makes sense to consider them first.
- Ability to implement quickly: Ideas that can be implemented in a short period of time and with minimal expense allow you to see results quickly, which is important especially in short-term projects.
- Employee involvement: Ideas submitted by more employees that have strong support within the organization are often more valuable and easier to implement.
- Innovation and market potential: Ideas that introduce new solutions can lay the foundation for future innovations or allow better adaptation to market requirements.
4. Sherlock Waste - how does the tool support the selection and prioritization process?
Sherlock Waste is a tool that supports companies in the process of managing submitted ideas, facilitating both selection and prioritization. It offers features such as:
- Team evaluation of ideas: With the built-in team evaluation of ideas function, the company can quickly gather information about the potential impact of individual submissions.
- Filters and reports: Sherlock Waste allows you to create reports and filter requests by criteria such as category, potential profit, deployment time or employee engagement.
- Progress tracking: The tool allows you to monitor the progress of the implementation of your ideas, allowing you to assess on an ongoing basis which solutions are delivering real benefits and which need to be adjusted.
6. benefits of effective management of submitted ideas
Effective management of submitted ideas brings a number of benefits, including:
- Increasing innovation: Prioritizing and selecting the best ideas allows for rapid implementation of innovations.
- Resource optimization: Through effective selection, an organization can save time and money by focusing on ideas with the greatest potential.
- Employee engagement: A well-managed idea submission process fosters greater employee engagement and motivates employees to continue suggesting improvements.
7. conclusion - effective idea management as a key to innovation
Managing a large number of submitted ideas is a challenge, but with the right prioritization and selection strategies, organizations can effectively implement those ideas that will bring the greatest benefit. Sherlock Waste, as a tool to support this process, enables efficient management of submissions, optimizing resources and motivating employees to actively participate in the innovation process.
👉 Schedule a meeting now and start a revolution of innovation in your organization!
