One would think that to assess today’s most innovative enterprises, all that would need to be done is examine the stock market growth charts, look for an upwards curve and call it a day. While the valuation of an enterprise is one way to determine growth, continuous innovation is much more than an inflated bottom line – it is a culture and a driving force behind an enterprise.
Recognizing the factors that truly drive innovation is what we at prooV care most about. Last month we held a corporate innovation focused meetup in New York titled “Corporate Innovation Past-Present-Future: Q&A with Steve Faktor“. As the title suggests, we heard from Steve Faktor, Founder and CEO of the IdeaFaktory, which helps companies innovate and grow through startup-corporate partnerships, on the trends of corporate innovation.
After the sold out meetup, we felt inspired and decided to compile a list of the 3 most innovative companies of the day, taking into consideration recent product or technology releases, growth forecasts, the particular corporation’s culture and their overall drive and efforts put towards innovation.
The Obvious: Google
It’s almost impossible to talk about innovation in enterprises and not have Google pop into mind first. Blending classic growth in terms of stock market statistics and unparalleled trendiness, Google is clearly at the forefront of innovation. We selected Google not just for these reasons, but because of the culture of innovation they breed and the latest products they’ve unveiled. The most recent innovations Google has unveiled, alongside their existing projects, shows that they are kicking innovation into next gear (yes, it’s possible!).
While it’s hard to mark a single innovation as better or more disruptive than others, the first consumer-focused Artificial Intelligence speaker – Google Home – is certainly a top contender. Originally perceived as Google’s answer to Amazon’s Alexa, the Google Home’s unique ability to learn, understand and complete complicated commands and follow up on questions alongside its ability to integrate with additional smart home solutions, makes for a truly disruptive product that showcases the truly forward thinking and innovative nature of Google.
The Disruptive: Tesla
When Tesla initially unveiled their electric cars, they challenged the current market and completely disrupted the way cars had until today, been driven. While that on its own is a revolutionary feat, a one time disruption just wasn’t enough for Tesla. As the rise in their stocks shows – Tesla is growing, and fast (up 25% in just six short months!).
So what makes Tesla one of the most innovative companies? The fact that among the hundreds of other car companies out there, Tesla shows a continuous commitment to disrupt the automotive market. Tesla recently revealed expansion plans for their fully autonomous Model S and Model X taxis, which will be piloted beyond U.S. borders and will feature their self-driving technology. Their determination to go head to head with the likes of Google, shows that their corporate culture is a fearless and ambitious one. The passion they show in building their products is what makes them a contender for the most innovative enterprise in town.
The Unpredictable: Amazon
Being declared the most innovative company of 2017 by Fast Company is a pretty sure-fire way to get into the prooV top 3 list, but the eCommerce giant, Amazon, certainly deserves a place in our top 3 list simply for their commitment to their customers as shown by their product and service offerings.
The innovations Amazon unveils (prime-shipping, Amazon Echo, their Cloud solution and always re-vamped Kindles just to name a few) are driven by the needs of their clients. Amazon is a company that is constantly on their toes fighting to retain customers and ‘one-up’ competitors. No matter the industry, Amazon continuously provides their clients with fantastic and wanted offerings.
Amazon is taking their commitment one step further in 2017 with their focus on food and the introduction of the Amazon supermarket, Amazon Go. Amazon also recently announced their patent on the delivery of goods to consumers through the use of drones, a futuristic thought that many consumers didn’t think would become a reality so soon.
Emulating Innovation in Enterprises
As enterprises continue to drive their projects forward and seek new ways of disrupting markets, innovation is surely at the top of their minds. In order to truly be innovative, providing users with ‘the same thing in a different package’ just doesn’t cut it anymore. To strive for innovation, it is important to have a corporate policy that invites innovation. One excellent way to get there? Implement the famous “FedEx day” ideology, where employees are given 24 hours to deliver something of value without intervention of management.
Follow the practices of today’s most innovative enterprises and who knows, maybe next time your enterprise will make the prooV top 3 list!