The cost of wasted ideas

Collective Intelligence is one of the biggest assets that any Organization might have, and Companies due a very poor job harnessing it. Recently I was reading Simon Moore's book about Portfolio Management and the author argued that there is a cost associated with wasted ideas.

Companies do not have the mechanisms to gather all that information and ideas through the pipeline into the people in position to take them and put into practice, even though there are multiple technologies that will allow that interaction including all the Web 2.0 social media technologies.

But sometimes good technologies are just not enough. Often Management does not to take advantage of the resources available to them and fail to leverage them, most of the time because of egos and politics.

If you want to stay competitive, you must drive innovation…..

Communication should exist both ways up and down , Management should keep the Employees well informed as to what the business goals are and they are planning to get there, they have to make the employees part of the decision making and allow them to contribute to the pool of ideas that will contribute to innovation.