presented by: caitlin flynn bryant cornell greg laybourn worlds most innovative companies
TRANSCRIPT
PRESENTED BY:CAITLIN FLYNN
BRYANT CORNELLGREG LAYBOURN
Worlds Most Innovative Companies
Innovation in the 21st Century
Broad focus Reinventing business processes Building new markets with untapped customer
needs Selecting and executing right ideas/bringing them
to market“In the 1990s, innovation was about
technology and control of quality and cost. Today, its about taking corporate organizations built for efficiency and rewiring them for creativity and growth.”
Business Week Rankings
Business Week joined with The Boston Consulting Group Which companies innovate best and why
Global survey: more than 1000 senior managers responded
Goal: the top 25 most innovative companies72% of senior executives list innovation as
top priority
Innovative Companies
• Apple• Google• Southwest Airlines• Virgin Group Ltd.• BMW• Procter & Gamble Co.• Samsung• IBM
Obstacles to Innovation
Slow development times
Lack of coordination
Getting reliable consumer insight the consumers action compared to their words
Measuring benefits of innovation
Asking the Right Questions
Cross-functional collaborations challenge companies to focus on all areas of the business
Ways to measure and raise productivity of innovation efforts 8 to 12 metrics
Samsung Electronics: most important metrics are price premiums and speed at which they can bring to market phones that meet customer’s needs
The World is Your Lab
Many companies are implementing the idea of open innovation
“when you work with outside parties, they bear some of the cost and some of the risks, and can accelerate the time to market”
Henry W. ChesbroughNokia: customers in poorer countries influenced
more durable phones since they’re often the most expensive item these customers will buy Better sense of local cultures, behaviors and
fashions