State farm idea management


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State farm idea management

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