The UK’s exit from the European Union, the inauguration of a new and controversial US president and the ongoing fluctuation of sterling, amongst many other events, are creating an atmosphere of doubt and indecision that has the potential to handicap commercial progress across all sectors.

C-level executives are trying to weigh up the likely outcomes of Brexit, not just the impact of leaving the single market, but how we forge fresh trade and tariff agreements with EU countries. There is also the question of whether new export arrangements will need to be made outside the EU. The process is lengthy so none of these issues will be resolved quickly, which means that many businesses are delaying important decisions and adopting lean management strategies until the picture is clearer.  

This doesn’t mean that progress or growth has to come to a grinding halt. Innovation, which is widely accepted as vital to economic, organisational and individual success, has a huge part to play in bringing British businesses through this uncertain period, which brings us back to the issue of finding and initiating new ideas.

The idea makers

Every organisation has an army of potential innovators, from staff and customers to partners and suppliers, and harnessing their ideas can drive tangible results, fuel growth and create real competitive advantage. However, becoming innovative has to be approached in the right way so that innovation goals match with company objectives.

What should the priority be? Is it to improve customer service or develop new products? Is it to cut costs during economic uncertainty, or introduce a new business model? Once an organisation knows what the innovation objectives are, it can share them with everyone, so that the entire business is working towards a common goal.

Organising innovation programmes can be time consuming and complex, so companies are increasingly looking for help from dedicated technology platforms. These are designed to encourage employees to contribute their thoughts about tackling business challenges or initiating improvements. The ideas can range from practical administration improvements to new solutions and products. Apart from sourcing creative suggestions, platforms also prompt managers to provide feedback, and in some cases this can grow into a broader reward and recognition process if ideas are put into production.

The digital edge

The advantage of turning to technology is that whilst many idea platforms are fully customisable and easily integrate with other popular office software programs, they also give companies all the tools they need to create the right innovation formula to suit their requirements.

In the case of Aviva, the multinational insurance company, the company built an innovation programme called The Customer Cup, an annual tournament in which employees are invited to participate in developing ideas. Originally, this was a time-consuming task involving four dedicated staff, but after The Customer Cup was transferred to a collaborative innovation platform, the advantages became immediately apparent.

Using their innovation platform, the tournament was fully automated, so all the ideas from employees could be reviewed, grouped and shortlisted according to criteria laid down by Aviva. It also became fully transparent and inclusive with participants able to see, contribute and vote on ideas submitted by colleagues.

Richard Wilkinson, innovation manager at Aviva, says: "The innovation platform we use could be taken from the shelf and adapted to our look and feel so it was virtually ready to go from day one. Our employees can inspire each other and join forces with people who have similar ideas, rather than each team working in the dark.”

Aviva doubled the number of participants registered for The Customer Cup to almost 4,000, after integrating the innovation platform, and increased international engagement significantly. Most importantly, the company received 680 ideas for the first tournament run on the platform, marking a 40% increase over the previous event.

Innovation equals creativity

The Customer Cup is not just innovation for innovation’s sake. The six best idea creators are invited to take part in a hackathon-type event at Aviva’s Digital Garage, a dedicated digitally focused unit geared to creating products and services that encourage positive digital interaction with the Aviva brand. At the Digital Garage, these idea creators have access to the right resources to help them put their ideas into action.

“We’ve opened our innovation programme to all of our 35,000 employees across 18 markets around the world. They have the opportunity to develop ideas that improve our customers’ experience,” explains Richard Wilkinson. “It’s good for us, good for our people and ultimately, good for our customers.”

Aviva have found an innovation formula that has become part of the company culture, to the extent that its people are now 'every day' innovators. They can put forward ideas that they know will be assessed as part of an automated process and the outcome will be communicated clearly to them. If the idea is successful it will be tested against measurement criteria.

The level of innovation maturity that Aviva has achieved does take time to build and works best if it is supported by five key pillars: strategy, leadership, management, culture and tools and processes. This is a framework that should have the buy-in of the entire organisation from the C-suite through to every department and business unit.

The benefits of adopting an innovation programme are undeniable, not just now when everyone is waiting for more clarity over the economic future, but at any time. By being more connected, more adaptable and more insightful, companies will emerge as next generation corporate trailblazers, having created competitive edge long before the dust settles on the Brexit negotiations. 

The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views of The Economist Intelligence Unit Limited (EIU) or any other member of The Economist Group. The Economist Group (including the EIU) cannot accept any responsibility or liability for reliance by any person on this article or any of the information, opinions or conclusions set out in the article.