50 Most Innovative Companies and what sets them apart

Repost from CGMA

From Business Insider



Here is a feature of most innovative companies and what set them apart.  No 1 is Apple, No 2 is Samsung.  Samsung dislodged Google from No 2 position.  Some car companies are in the top 50 like Toyota, BMW and VW and GM.

There is much innovation in car and automotive industry, considered to be laid back and staid because of stiff requirements on fuel economy, safety, and competitive scene.  If you do not improve the car styling or performance, then your sales suffer.

Here are reasons why some companies are more competitive than others:

• Their top management is committed to innovation as a competitive advantage: Nine of ten strong innovators say leadership is committed to innovation, compared with less than half that at weak innovators.
• They leverage their intellectual property: Instead of viewing the protection of IP rights as a defensive strategy, top innovators see it as a way to establish a competitive advantage.
• They manage a portfolio of innovative initiatives: Strong innovators define their project goals clearly, and they “have processes in place to stop projects when their promise wanes,” the report says.
• They have a strong customer focus: More than 70% of strong innovators say that the views of key customers play a role in choosing which ideas to develop, compared with 42% of weak innovators.
• They insist on strong processes, which lead to strong performance: Top innovators are far more likely to have standardised processes to review projects and make decisions. As a result more of the top innovators’ projects are finished on time. 

Read more on 50 innovative companies        


                                                  

Structure for Growth

Structure for Growth at Inc

As the company, you might find a need for a structure and system.  But you might find this stifling to have a committee, to ask for bid, to come out with manual.  Before, you can decide alone or you do not need procedures and manual.  But system does make a company reduce cost and make all things scalable. Structure is no quick fix. Whether you’re creating a policy, procedure, or system, view it as an experiment. Put it in place, and then assess the results. As you system meets reality, you may need to tweak it--or throw it out completely and try something else.

Here as some mistakes that  you can make as you scale up:
Inconsistent implementation. Once you have something that works, make sure it’s used consistently throughout your organization. Be careful--employees may drift back to an old method or previous status quo.
Going overboard. Too much structure can be just as dangerous as not enough. Policies and procedures should not feel like a prison and reduce your employees’ ability to think. Strive for balance and be open to employee innovation.
Not looking back--or ahead. Periodically review policies and systems, and adjust them as your company grows. Ask yourself whether your structure still achieves what you need it to. Think about what your organization needs to look like in five years. Will your structure help you achieve that architecture?

You tube video: "SMART Goals"

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