“An idea can change your life”- it is a very popular slogan of a renowned organization. And with brand new ideas this organization is leading in India till today. It is very true that sometimes a very simple idea or thought can change any organization and our world too. We all know the picture clarity of Newton brought the idea of gravity. We have witnessed how a simple idea of Jeff Bezos, Elan Mask, or even Mark Zuckerberg took them to the top and their organizations too. Top organizations in the entire world moving with simple ideas and effective execution. So an idea really matters, if we can execute it at the right time and with the right direction. Daffodil Family as an organization has worked with different ideas, in different times and that helped to hold the present position. But we are now going through a time where we have scope to work with different ideas considering its impact to the society and community and contribute in different areas too. Introduction:
To ensure competitiveness in this new normal situation, even in the next normal situation, organizations must adapt changes and try to innovate and explore new ideas for business growth and initiating new business opportunities. Sustainable competitiveness of any organization truly depends on the ability to adapt to changes originating from innovations in processes, services and products. These Innovations may bring new opportunities for our organizations. May help in organizations growth. As we are going through the most disruptive situation of the time, we need to accept the change, we need to catch the new opportunities that come with the time & inventions. We need to go forward and explore every potential. But most of the time we lose many potential ideas, proposals, opportunities for the lack of a well designed & designated systems, proper analysis, timely assessment, identifying people, timely execution, proper tracking & monitoring, defined work process, right people, and for many other reasons. Maybe we even cannot justify or assess the exact amount of loss that we make unknowingly. The Bank of Idea and Strategies has been developed to ensure every opportunity has been explored!
What we have to explore the Idea Bank:
We have a lot of talented members with multi-dimensional knowledge, experience, expertise and skills. They have a good network and link with industries. We have scope that we can utilize their full potential, open new avenues of business, create new leaders under their supervision, and open new avenues of revenue.
Besides, our organization has a good reputation, achieved the trust of the people, and experience in the most demanded sector, domain knowledge, link with different national International organizations, associations and most importantly have the resources/infrastructure and source of human resources. So, considering all these factors we have scope to go for expansion, change business dimension, explore new business scope and expand our operation.
It may help leaders to contribute in any areas where they have expertise and feel confident. Family Members may have the freedom of expression to take lead on any ideas.
Open Scope to grow more leaders, change makers
Members will feel confident while they will get the scope to participate in innovative activities, directly or indirectly, at various levels, starting from making independent improvements to their existing workstation or leading any new opportunities, creating any new leader, it will ensure members growth and as a whole to organizations growth as well. So the idea of Idea Bank has been put forward. Idea Bank- Is it really a Bank?
It will work as a bank to deposit only innovative ideas, innovative solutions, success stories, successful operation models, and proposals, pick and drop EoIs (Expression of Interest) in the secured account. It will be simply a place for sharing ideas and resources that will enhance and advance the use of collaborative practices in the Daffodil Family. We may add several categories in this bank and we just have to press the right account-
CollaborationSignificant Section of Idea Bank:
Views on the Collaborative Process – A place to discuss the collaborative process, pros and cons of proposal, Best practices, useful techniques, Data, identifying challenges and methods for overcoming challenges. Leaders Corner
– the role of the leader, checklist for his role will be identified here.
Readiness for Collaboration – The readiness of a collaborative process. The Background study, findings, ideas for collaborative methods and use the power of the Collaborative Leaders Network to help make things happen.Objective of the strategy-What we Want to Achieve?
The objective of this strategy is-
To create an operating model for the purpose of utilising an idea bank in the development of Daffodil Family business operations and exploring scopes for further development.
To maintain the processes needed for the development proposal activity, and to be a tool towards harmonising and organising development proposal activities. How will Idea Bank help us?
Scope for Existing leaders to explore more opportunities
Scope for Second Generation Leaders to Explore Their Potentiality and become the Leader
Organization would be able to explore any opportunities
Organization would be able to expand its operation
Organization to get more avenues for revenues and contribute to Society and Community Purpose of this Model:
The idea bank model can be used to record different kinds of development proposals into a common operating model and system, the origin, Research, Data, any previous study status The operating model consists of
To identify Convenors Role
Storing any idea
Primary Assessment of the Model
Relating with the right depart, authority, people for further assessment
Adding Research & Analytics
Developing a Proposal
Handling and processing it,
The implementation or Storing it in the Bank
The reward, recording and retrieving of data related to the proposal and follow-up.
Developing a Successful Model
The idea bank model will facilitate the Daffodil Family members to participate in development and innovation activities, as well as sharing knowledge and operating methods. The model will allow development activities to be directed according to the organization's needs, as well as the monitoring and analysis of operations. In addition, it will enable the employees’ to explore their potential, know-how to be recorded in order to create a resource of data for the organisation.Who will Run it?
Idea Bank will be run by a system. It means there will be no physical existence of this bank but will be supervised by a person but that person also be driven by the system. There will be a panel for recommendation and guidance. Based on the guidance or recommendation, the supervisor will do the following tasks:
First store the proposal in the idea bank in the relevant account
Contact the Advisory Panel for primary assessment to find the most relevant concern/personnel for assessing any idea.
Forward that idea to that person and follow up
Keep update on secondary assessment ( Meeting, Findings, Research Data, analysis, Members Overview, Market Study and so on)
Prepare report on Secondary Analysis
Report to the Advisory Panel on its progress
Take Preparation on Execution.
Store the Project Feasibility study and Idea in the Bank or
Successful Execution summary to the Bank to make a story of success for the rest.
The Corresponding Personnel will be responsible for the following purpose:
Ensuring all ideas are stored in the systems
Ensuring all ideas are assessed for further scopes
Finding Right concern, personnel and department to assess it
Taking it to discussion level
Working with the designated department, personnel until the final recommendation and taking that to bank
Implementation, execution and keeping updates.
Role of the Unit/Leader:
To assess the Idea
To communicate with relevant authority
To record every proceedings
To gather every information
Initiate Feasibility Study
To make a summary report
To close it and forward the idea to Bank
To make a project proposal
To contact to the authority and find a change maker to execute it
To take new and additional responsibility and make it happen
Create a model to study by others and motivate them to do the same.