Which company would not love the tag of most innovative country?
After all its innovation that provides company and individuals with desired competitive advantage.
Forbes lists top 100 most innovative companies from the past 5 years. In the current age of competition and need for sustainable advantage, every company desires to be in this list.
Unfortunately, it’s not that simple. One would expect the top 100 companies to populate the innovation list but this is not always true. This article would throw some lights on the differentiators that makes these most innovative companies stand out of the crowd.
I have picked 3 random companies from the list to analyse the method of spending innovation capital. It is important to remember that an invention or a new technology can only be termed an innovation if it can be effectively monetized.
Further, the innovation must also have usability and marketability to connect it effectively with the users. Not all innovations connect well with the users. It is the usability and compatibility of the innovation with consumer’s experience that makes the innovation distinct and special. One of my other post discusses Innovative ideas for business growth.
iPhone was a revolution because of its connectedness with what users desired. The list by Forbes surprisingly doesn’t contain ‘Apple’ in the top 100 most innovative companies
The companies I would be using for discussion are as below.
3 Picks of the most innovative companies
- Tesla motors- United States (Ranked 1)
- Amazon.com- United States (Ranked 8th)
- Marriott International- United States ( Ranked 29th )
For the full list Please visit Forbes list 100 most innovative companies
Tesla motors- MIT Technology review lists smartest companies of the world and in its list it has agreed to Forbes on the undisputed number one.
Tesla, with its massive Solar panel factories, friendly robots, and new much improved electric cars is reshaping the technological landscape of the industry. In April, it also announced that it would be spinning off a line of batteries in service of a big goal of remaking the energy grid for industries and residences.
Tesla is also investing a lot on research to innovate further and the innovations they are coming up with are innovations with impact. They truly deserve to be the numero Uno in most innovative companies list.
Related article 50 smartest companies of the world
Amazon.com- Boston Consulting Group’s list named Amazon in the most innovative trio of companies of USA in 2013.
On another note, the most innovative team however according to them in 2013 was ‘Team Obama’. Amazon along with Google and Apple have been movers and shakers of industries globally.
With its disruptive business models, Amazon continues to dominate the e-commerce and to a large extent, the software industry. Its prime subscription model earns revenue of over $1 billion. Amazon has also got itself into cloud computing and with its innovative models, has started to make disruptive innovations in technology industry as well. Amazon has innovated in terms of logistics and has expanded well across he globe.
Related article 3 most innovative companies of 2013
Marriott international– Marriott has come up with a quote ‘See how we are innovating travel’. The quote in itself portrays the intent of Hotel chain. It is for the first time a hotel chain has found itself so high on the innovation index.
Marriott has become one of the most innovative companies as it has understood the user experience and like Apple has delivered innovations relevant to the consumer needs. The list below provides some of the many innovations the Hotel chain has come up with to woo its customers across the globe.
- The great room- A place to connect or disconnect
- Get Teleported- The virtual travel experience
- The new guest room- innovation with guest in mind
- Marriott Mobile app
- VR Postcards- A new view in travel
Related link Innovations by Marriott
I have limited my discussion in this article to companies in USA. In my future posts, I would be discussing the most innovative companies from emerging economies and Europe.
It is evident from the examples above that the most innovative companies are also the smartest in terms of understanding what their consumers expect. Innovation without an integration to the user needs is an invention that will go unnoticed.