Innovation has always been a driver of advancement, competitive edge and ultimately global change. No matter the industry, a company that consistently innovates defines the bar by which success is measured.
This February, Mindjet hosted an exclusive Innovation Forum in Sydney, Australia, featuring a presentation from AMP’s Director of Design and Innovation, Munib Karavdic. Karavdic leads AMP’s innovation strategy, which combines crowdsourcing with human-centred design and open innovation to unearth unique insight, perspectives, and ideation.
The AMP Innovation Model
The team at AMP serves over 4 million customers in Australia and New Zealand alone, making the company one of the leading specialist wealth management organisations in Oceania. Wealth management is a rapidly expanding, quickly evolving industry, making it absolutely necessary to develop dedicated, continuous efforts to improve innovation initiatives.
AMP boasts 4,400 financial advisers worldwide, giving them unmatched expert resources for gaining market insight and remaining competitive. Its programme strategy is supported by innovation management technology, which allows them to gather, evaluate and develop ideas and perspectives from all participating employees. This gives them a vast, diverse network to tap into for new ideas and intelligent collaboration.
Staying Ahead of the Game
In his talk, Munib discussed the key initiatives that AMP has run in order to fully leverage their employees, including their now-annual CEO Challenge, which has been run for the past five years to 3000 employees. These initiatives have resulted in vastly improved service and the ability to keep pace with emerging customer needs worldwide.
Following this insightful narrative, leading innovators participated in a discussion around how organisations can develop strategies to engage their best resource – their employees. It was a particularly important lesson in how a collaborative culture of innovation and transparent communication are the pillars of competitive advantage.
The event saw some great reception from attendees, and we at Mindjet are confident that attendees and presenters alike gained an enlightened understanding of the emerging but critical role of crowdsourced collaborative innovation.
To learn more, join us in just a few weeks for our next Innovation Café webinar hosted by Doug Collins, “Driving a Culture of Innovation: How Enterprises Make it Happen.” Click here to register.