Thursday, August 21, 2003

MIS Magazine - Innovate or die An excellent case study on Australian company AMP and their efforts to bring innovation into their company.

AMP is one of an elite few companies in AustralAsia (others include Carter Holt Harvey in New Zealand and Hydro Tasmania) to have gone all out in the creation of a culture for innovation. This meant getting out beyond the traditional R&D dept and into the rest of the company too.

Some of the highlights of their efforts:
- CIO as champion of the innovation practice
- Close tie in with Employee Communication and Knowledge Sharing function
- Internal "Intrapreneurs" who mentor/champion change in business
- An internally developed intranet-based capture and tracking tool, as a forum for ideas and suggestions
- ‘conversation cafes’ to act as brainstorming forums to generate new ideas
- A Reward program focusing on intrinsic (public praise, exposure to new opportunities, career growth), rather than extrinsic (ie cash) rewards.

Although there's no doubt that their system has room for improvement, they are undoubtedly taking some big steps in the right direction - and the case as a whole contains some great ideas for all corporate innovation processes.

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