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These innovation sessions at GE Capital Americas revolve around everything from digital marketing to mobile sales tools to user experience changes and analytics. The goal at GE is to use its ideation tools so any employee can toss out an idea that can be exposed in hackathons and other innovation events. The ideas from the innovation time are logged and expanded on by other employees. In addition, the Friday innovation time builds on what happened during the week, customer conversations and fixing recurring pain points. The innovation time often results in the information technology department talking to other units.
The time is spent picking over ideas, looking for new avenues of business and breaking down silos between marketing, finance and commercial, said Hasslund. This innovation time is spent individually, but many employees form teams. "What we find is that scheduling on Friday generates energy," he said. What innovation Fridays mean is that the brain gets to work on something new and stretch. Friday is about burnout from the previous four days. Hasslund said his company went with Friday because the beginning of the week is too busy. That wide range of customers - and the wide range of personalization and mobile technology needed as work patterns change - requires innovation both large and small.
GE Capital's Americas unit targets companies with revenue between $10 million and $1 billion. The company, the commercial lending and leasing arm of GE Capital, has about 300,000 customers in the US and Canada and conducts transactions for loans covering everything from ATVs to aircraft.