Blog Archives

All posts by Coby Skonord

5 Challenges with Implementing Corporate Innovation Programs

Implementing a corporate innovation program can be a complex and challenging process, as it requires significant resources, time, and effort to get it off the ground and ensure its success. In this blog post, we will explore some of the biggest challenges that organizations face when implementing corporate innovation programs, and how you can overcome them. Lack of buy-in from top management One of the biggest challenges of implementing a

Coby Skonord|
March 12, 2023
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Flamin Hot Cheetos: A Janitor’s Idea That Changed Chips Forever

The best ideas come from the places you least expect, and the story of Flamin’ Hot Cheetos is no exception. Richard Montañez came up with the idea for Flamin’ Hot Cheetos while working as a janitor for Frito-Lay back in the 1980’s. Today, Flamin’ Hot Cheetos is one of Frito-Lay’s top selling products, and Montañez is an Executive for PepsiCo leading multicultural sales and community promotions across their North American

Coby Skonord|
February 19, 2021
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The ROI of Costco’s Employee Suggestion Program

Since its founding, Costco has always had a focus of putting their employees first. This includes offering higher wages, which is possible because of their low turnover rates. As a matter of fact, Costco has the lowest turnover rates in the retail industry. For Employees who have worked at the company for more than one year, the annual turnover rate is below six percent.  According to their CEO, another reason

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Amazon Prime – An Employee Idea that Produced 5 Billion in Revenue in Q3 2019

I, along with most of the people reading this article have a subscription to Amazon Prime. It’s transformed the way that we shop, purchase, and receive everything from computers to toothpaste. It has truly redefined what “on demand convenience” means. But, did you know that Amazon Prime was actually an idea submitted by an Amazon employee? Amazon’s goal was to find a new type of customer loyalty program that would

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