When developing your innovation agenda, bear in mind that employees deal daily with inefficiencies in your company, having often diverse and powerful ideas related to organisational processes and products. The following are real examples of this.
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A cost-cutting initiative within your innovation agenda needs to be run as a strategic initiative with the same board sponsorship, direction and accountability as any other critical initiative. It is important to ensure central governance, senior management agreement and employees’ engagement.
When introducing a cost-cutting strategy in your innovation agenda, you should first have a clear view of your company’s strategy and map out good and bad costs for programme intervention, at macro and micro levels. Both macro- and micro-level-oriented strategies have value and they often make more sense combined.
In partnership with the UK’s Department for International Development (DFID), Unilever is expanding its commitment to support social enterprises through the joint initiative TRANSFORM. To invite ideas and collaboration to further catalyse impact, they have chosen Exago’s open innovation software.