PepsiCo Innovation: The Next Big Idea 2021

Why are some Enterprise companies able to become and remain visionary through multiple generations of leaders, across decades of accelerated digitalization? They know how to constantly reinvent themselves to stay ahead of new market expectations while staying focused on what they do best. Here is a concrete example of PepsiCo leveraging Agorize software for internal innovation management.

Global F&B corporation PepsiCo chose Agorize software to empower colleagues across the globe to collaborate and leverage their collective intelligence.

With their eyes on the future, PepsiCo was looking for new product ideas that would make a positive sustainable contribution and make PepsiCo faster, stronger, and better.

Employees were challenged to propose ideas that make an impact in three different areas:

  • Evolve the product portfolio
  • Transform the digital ways the organization works
  • Advance the pep+ sustainability journey, inspiring a positive change for the planet and people

Download the full case study to find out how PepsiCo leveraged Agorize’s idea management software to go from crowdsourcing ideas to implementation discussions in a matter of months.

What is Agorize?

Agorize is the most comprehensive innovation management platform, supported by a team of experts and community of innovators. For over a decade, we’ve been providing technology powered by a community of 5 million innovators to foster change and accelerate innovation. Our clients and partners worldwide crowdsource, evaluate and develop solutions from startups, employees, developers and students using Agorize. We’ve helped over 300 global enterprise companies in Europe, North America, and Asia Pacific, including Enterprise Singapore, Huawei, Microsoft, LVMH, PepsiCo, Bayer, Schneider Electric, Hitachi, L’Oréal and many more by running their innovation programs.

 

What is intrapreneurship?

Intrapreneurship refers to the idea of entrepreneurship within an existing organization. Entrepreneurship is often defined as the creation of a new business or idea that comes with great risk and great reward if successful. Intrapreneurship is considered less risky because it takes place within an established environment. However, that environment also limits the autonomy of the intrapreneur. Promoting and boosting intrapreneurship has many benefits. Not only can it contribute to business growth and revenue, it also improves employee satisfaction and retention and talent acquisition of those with an entrepreneurial mindset.

 

What is an internal challenge?

An internal challenge, or internal competition, is a competition organized within a company to engage employees in finding new innovative solutions. Much like any innovation challenge, it includes clear objectives, problem statements and rewards. When done right, an internal challenge will have multiple positive impacts on the organization. Not only will engaging employees on relevant business challenges lead to accelerated crowdsourcing, development and implementation of solutions that increase business growth and revenue. It will also foster a company culture of continuous improvement, increase employee satisfaction and retention and attract new talent to the company.

 

What is an innovation challenge?

Innovation challenges are a great way to tap into the creative potential of your employees, startups and students. They’re also a great way to get started on new ideas that you might not have been able to develop on your own.

An innovation challenge is a competition organized by a company to bring forward innovative solutions. The organizer defines clear objectives and problem statements, after which innovators are invited to submit their ideas and solutions. Proposals can come from startups, employees, students or other talent that is relevant to the topic at hand. After crowdsourcing and assessing ideas, mentoring participants and developing solutions, the organization will identify the best proposals that will be implemented. Over 1000 innovation challenges have been organized for enterprise companies by Agorize.

As a result, clients have reduced go-to-market time with internal teams, fast-tracked the development of niche solutions with the products and services of startups, created long-term strategic partnerships and brainstormed future-proof ideas with students from top universities. Overall, it accelerated their own transformation and made themselves more future-proof.

More resources

Article: What is intrapreneurship and why is it important? 
Whitepaper: The significance of employer branding
Whitepaper: Overcoming the unexpected with the help of your employees 

 

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