The World's Most Innovative Companies

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The World's Most Innovative Companies

• Matt Ryberg Amy Seto

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Innovation Past and Present

• In the 1990s, innovation was about technology and
  control of quality and cost.
• Today, innovations involves taking corporate
  organizations built for efficiency and rewiring
  them for creativity and growth
• Innovation is about reinventing business
  processes and building entirely new markets that
  meet untapped customer needs.

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Building Innovative Culture

1. Open Innovation
2. Innovators-in-chief
3. Measure what Matters
4. Coordinate and Collaborate
5. Customer Insight

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Obstacles to the Road of Innovation

• The Four Major obstacles to Innovation
• Slow Development Time
• Lack of coordination
• Risk Averse Culture
• Limited Customer Insight

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Apple

• iPod
• Networking
• Business Model
• Branding
• Simplicity of ITunes

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Toyota

• Obsessive focus on manufacturing processes
• Hot selling Prius earning Toyota more respect as
  a product innovator
• Launched value innovation strategy

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3M

• "Genesis Grants"
• 60 or so researchers a year submit formal
  applications to a panel of 20 senior scientists
• Twelve to 20 grants, ranging from 50,000 and
  100,000 apiece, are awarded each year.

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Closing Thoughts

• As the world becomes more technologically
  advance, companies must rely on their innovations
  to help stay ahead of their competitors
• The concept of innovation is always evolving so
  whoever stays ahead on the learning curve will
  come out on top in the future

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Sources

• Globe picture http//sevencolors.org/post/earth-i
  mages
• Article
• McGregor, J. (2006). The worlds most innovative
  companies. Annual Edition Marketing 13th ed.
  McGraw Hill p. 5-9
• http//www.businessweek.com/magazine/content/06_17
  /b3981401.htm
• Videos
• http//youtube.com/watch?vxXrIoF-sVi8
• http//www.youtube.com/watch?vvzTroCGYNrk
• http//youtube.com/watch?vdto3mB__0Iofeaturerel
  ated
• http//youtube.com/watch?vYXI2ZN4z55M