Wednesday, September 10, 2014

5 criteria for idea selection

Infosys is trying various things to remain at the top of industry. One of the activity to keep holding the top position was to come up with new ideas to work on. For this they have crowdsourced ideas from within. They got nearly 2,600 proposal and out of which 68 were finalized after a series of filtering rounds. I liked the filtering criteria that they have applied for choosing the ideas to work on. 

The criteria feels simple if you get to know about it but I am sure they must have had good discussion to arrive at such criteria which covers interest of all stakeholders. And appealing to all stakeholders is the real key for the selection criteria. 

Five elements of the filter are:
  1. Desirability - This is for clients. The idea has to have appeal for the customers. Ultimately they are going to use the product/solution. 
  2. Feasibility - This is for the company. Idea should be within their circle of capability. This will ensure that the speed of development would be fast.
  3. Potential - This is for the benefit of the masses - market. Idea shouldn’t solve the problem that are not worrying people at large. The solution for very localized and pocket problems can come from any startup but big organizations should focus on solving bigger problems. 
  4. Clarity - This is for the people who would be the part of the project. If clarity is not there people will not understand vision of the product/solution. 
  5. Viability - This is for the investors by large. The viable idea will be sold at the right price creating value for the investors. 

So in summary, Infosys has tried to consider the aspirations of clients, organization, market, project team and investors.

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