In April, 2020, a unit within the Fung Group launched the Loop – an open innovation crowdsourcing initiative supported by the Academy. This initiative taps into the collective knowledge of all employees to aggregate and then filter ideas for the business. The program is run through a set of time-boxed online challenges in which the community ideates, discusses, and votes.
In their first challenge, the Loop asked colleagues: “How might we envision different ways-of-working as part of our new normal?” which generated 23 ideas, from 391 active users who cast 900+ votes, all in less than a week. Solutions focused on practical aspects of work-from-home like IT support and flexible hours, as well as adjustments that need to be made on processes like performance assessment.

More importantly, in the current context of remote work and physical distancing, the Loop has been successful in bringing the organization together in a constructive online conversation about the future of the Company. This week’s challenge targeted new products and services that could generate revenue as the economy reopens.

This is one of the many online ideation initiatives that the Fung Academy team has supported across the Group through The Kitchen. To learn more about the potential of open innovation, reach out to us in the Contact Us section.

Tags: Crowdsourcing , Online Platform , Open Innovation