Ideas of innovators
This article, “The World’s Most Innovative Companies,” lists five ideas from the innovators. Here are three of them. The first is about bringing people together. When face-to-face teams are used in an organization, it results in the lowering of late-stage conflicts and speed development times. Secondly, when assessing traits of innovation, the use of metrics is a recommended way of achieving this. Lastly, the use of oral tradition to relay the history of the company in innovation is an essential tactic in innovation.
Apple’s iPod launch innovation
This article, addresses more than seven types of innovation to launch iPod by Apple that is listed by the innovation consultant, Larry Keeley. Here are two of them. The first one is networking. This appertains to a novel accord between the music companies to allow their songs to be available for online purchasing. Network innovation designs deal with the establishment and maintenance of computer systems for different schools, businesses, government, and non-governmental organizations. The second one is the business model. This appertains to the selling of songs for a buck each online. This is an aspect of re-igniting the objectives of a business.
Article Summary
This article, The World’s Most Innovative Companies, is about businesses that have thrived in hard economic situations due to their smart ideas. Innovation is vital in ensuring that a company maintains its lead in the market. In this 21 century, innovation involves much more than coming up with new products. It is about recreating businesses and coming up with very new markets that satisfy the forgotten needs of the customers. As the advancement due to globalization is evident, innovation is about broadening the source of new and better business ideas.
The Business Week in conjunction with The Boston Consulting Group carried out an analysis to ascertain which organizations are the best in innovation and the reason for this. The study came up with the second annual ranking of the twenty-five most innovative companies that showcased varied aspects of innovation. The first position went to Apple Computer Inc. that used more than seven methods of innovation to launch the iPod. Google’s mapping technology makes it the second on this coveted list. A major improvement was shown by Toyota Motor Corp., which has sparked innovation in product design and enabled it to emerge number four in the survey. Proctor & Gamble Co. at number 7 embraced collaboration in achieving innovation. Starbucks Corp was number nine after showing success in how they understand their customers. IBM that has widely embraced the technique of open innovation follows Starbucks Corp. At position 11 is Virgin Group Ltd, which has shown business model innovation. At number 16, BMW emphasizes coordinated innovation. At number 24 in the list are Blackberry maker and newcomer Research in Motion Ltd which has come up with major technological innovations. Southwest Airlines rounds up the list at number 25, an innovator in wielding operational developments.
The survey also established major hindrances to innovation. The first is due to slow development times followed by a lack of coordination. The survey shows a considerable difference in what metrics to use in assessing innovation efforts. Another obstacle is the lack of attention to the needs of the varied needs of the customers. In trying to build an innovation culture, several companies have tried different schemes including rewards. Some of the innovative ideas are sparked by listening to customers in poor countries. The companies that are in this list cultivate working conditions that respect creative people in good times and bad times. They have a wide range of projects that nurture timeless ideas.