Best Practices at Whirlpool - anyone got more?
Imaginatik Research
2006
link to article:
http://www.businessweek.com/innovate/content/mar2006/id20060306_287425.htm?chan=innovation_innovation+%2B+design_innovation+and+design+lead
We found this fascinating and insightful case study on how Whirlpool
does Innovation which highlights some of their best-practices
including:
- Soliciting ideas from everywhere and everyone
- Establishing a seed fund for innovation
- A team of seasoned and trained innovators
- Setting an innovation goal and achieving it!
- Building an innovation pipeline
- Defining innovation metrics/innovation criteria to aid project
reviews
- Engaging and rewarding both senior management and employees
And the rewards? They have netted $422m on sales of $14.3 billion,
share prices at an all time high with excited and engaged employees.
What other best practices have you used or seen that weren't covered
here?