PwC is the accounting firm that tallies the Oscar votes (see above), with great security and an unusual amount of secrecy to prevent leaks. All the glitz happens on stage when big-name celebrities open the envelopes.
Backstage is where PwC does its magic, but the firm is also ramping up its business possibilities by encouraging its own talented people to team up in an innovation competition. The team that came up with the best idea for PwC's next $100 million business would win $100,000.
This was no ordinary "employee suggestion contest." A panel of partners narrowed the field of initial submissions to 20, and a popular vote among employees sent a further 5 to the semifinal round. With help from internal advisors, these 25 teams refined their ideas. Only 5 teams made it to the finals in New York City, to pitch their product ideas at PwC's headquarters--viewed via webcast by thousands of colleagues worldwide.
The winning idea was a proposed service that would apply sophisticated datamining analyses to help clients determine what their customers want or need next (think Netflix movie suggestions but in the health care or financial services field). Even if Power Pitch doesn't result in a new $100 million business, it has already generated internal excitement and helped the company's talented professionals to think big, think creative.
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