Innovation365 Capturing ideas and using the wisdom of the crowds

Today's innovation comes from Here's an Idea: Let Everyone Have Ideas.

What is innovative? Using the theory of information markets (checkout NewsFutures) capture and "vote" on ideas from your team, group, or company. The innovative part is that the traditional approach to floating ideas, the hiereachical float up the chain of command, is removed and the crowd at your company get to see all the ideas and vote with their feet, time, and dollars.

This extends the model of pulling together an alliance willing to commit to a specific goal, whether it's pitching a product or a new health plan. The alliance formation is a form of a vote on the idea's viability. The people work on projects because they believe in those projects. Check out W.L. Gore segment in Apr 2006 Business 2.0 article on Best Kept Secrets.


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