Business Challenge: Motorola launched a companywide initiative to solicit ideas and innovations from its employees. In response to the invitation, Motorola’s idea review board was overwhelmed by the 15,000 ideas the system produced. Motorola needed a scaleable and efficient system to manage the process.
Approach: To speed up the prioritization of ideas, Consensus Point and Motorola established an idea management prediction market called ThinkTank Idea Exchange that filtered the list of submissions prior to rising up to the review board. Specifically, employees would review 100 new ideas each quarter and bet on the winning and losing ideas with virtual dollars. The winners presented their submission to the review board.
Results: Motorola decreased idea disposition time from 180 days to 80 and increased idea pursuit rates from 22%+ from 12%. Moreover, the company decreased the number of duplicate ideas by 50%.
“Motorola sought to allow any employee the opportunity to propose ideas for new products, upgrades to current products, productivity improvements, or cycle-time reductions.”
– Rami Levy, distinguished member of Motorola’s Technical Staff