State farm idea management

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  • 1. Idea Management at State Farm
    • Systems Integrators and Knowledge Management
    • Carol 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 ideas
  • 3. 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:
      • IBM’s Innovation Jam
      • Starbuck’s “My Starbuck’s Idea”
      • Dell Computers – “IdeaStorm”
    • Our vendor’s 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, Cont’d
    • 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
    • Sponsorship
    • Competency
    • 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 contributed
    • From 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