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Streamline the Idea Management Process with Idea Management Software

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					  Streamline the Idea Management Process with Idea Management Software

In today’s competitive business environment, survival is difficult for enterprises that do not

embrace innovation. Innovation plays a key role in enterprise success and if industry people do not

come up with new products and services as per market demands and customer needs, they would

lose not only their customers’ loyalties but also their business. With customers having different

alternatives today, rebuilding the business from scratch and regaining customer trust would

sometimes take a lifetime to achieve.



Take the case of Grameen Bank, which was the result of an innovative idea put in place to financially

strengthen the downtrodden class of Bangladesh. Grameen bank was actually a research project

launched by Professor Muhammad Yunus to explore the possibility of designing a credit delivery

system to provide banking services to the rural poor. Unemployment, rural poverty and the

exploitation of the poor by the money lenders are some of the factors that inspired Professor Yunus

to come up with the concept of Grameen Bank. One of the important objectives behind the launching

of the Grameen Bank project was to put an end to the age-old concept that low income means low

savings and low investment and replace it with the new concept that low income can mean more

savings and more investment. The success of the Grameen Bank project led to the project being

transformed into an independent bank. Today Bangladesh has 1,084 Grameen branches, with 12,500

staff serving 2.1 million borrowers in 37,000 villages. On any working day, Grameen collects an

average of $1.5 million in weekly installments. Of the borrowers, 94% are women and over 98% of the

loans are paid back, a recovery rate higher than any other banking system. The success story of

Grameen Bank has inspired so many that Grameen methods are applied in projects in 58 countries,

including the US, Canada, France, The Netherlands and Norway.



The story of Grameen Bank points out that idea generation is not the faculty of a few experts.

Everyone in an organization has the capability of coming up with innovative ideas. What the
organizations need is an effective idea management system to streamline the process. When the

various stakeholders of an organization such as employees, partners, vendors, customers and the

public are empowered with idea management software to voice their concerns, share their views and

make worthwhile recommendations it would result in



   ●   New competitive products and services

   ●   Process improvements

   ●   Improved collaboration and decision making across teams

   ●   Competitive advantage

   ●   Enhanced Brand Value and Brand Loyalty



Idea management is a necessity in today’s business environment where innovative ideas and

thoughts are necessary to ensure customer satisfaction and customer loyalty.



Read More About: management idea, idea management solutions, innovative management

solutions, innovation products

				
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Description: In today’s competitive business environment, survival is difficult for enterprises that do not embrace innovation.