Most Innovative Companies of 2013

The most innovative companies of 2013 can be considered to be the ones which are on the verge or already leading a market takeover. These companies combine together a diverse group of experts and innovators, all of which have their eyes set towards changing the world. Whether it is the creation of new technology or the innovative footwear, these are the top 5 companies which leaped all others according to the fast company magazine.

1. Nike

FuelStefan Olander,  the lead of the Nike’s Digital Sport division, is working in collaboration with a team of engineers who are creating of a pair of Nike Shoes with embedded sensors. These sensors would be able to detect the pressure which is created by the shoes. The data collected is then digitally fed to an iPhone. This device is just a fragment of the innovative products and services the company plans to launch.

2. Amazon

Having introduced the same day shipping options in a number of US Markets, and then same day delivery service Amazon deserves to be at the top grabbing the 2nd spot among the most innovative companies. In all, the entire retail industry has by now realized the true potential of Amazon, as it notches up its market shares with every second that passes by. That’s not all, as every other week the company manages to make the news through the launch of a new technology or service.

3. Square

Empowering the customers with the credit card management and transaction services using a mobile device, is the basic idea which Square had at the start, but now it has managed to extend its lead over all of its competitors.

4. Splunk

Whether it is the billions of clicks on Facebook and Twitter or any activity on all other websites, Splunk has the expertise and the resources for monitoring, indexing as well as collecting the data and putting it to good use through which has provided new business opportunities and profits for its clients.

5. Fab

With dozens of online boutiques and design centric products, Fab managed to capturea revenue of about $ 150 million in 2012. Moreover, the membership for the company is also progressing at maddening pace which earns it the right to be termed among the top innovation companies.

For the complete list go to http://www.fastcompany.com/section/most-innovative-companies-2013

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Building innovation teams is a top priority for CEOs

The creation of an innovation team is not something that can be taken lightly in order to be effective.  The job demands good strategy and strong commitment and involves the formulation and creation of a culture that would encompass the whims of innovation through the process of encouragement and promotion of entrepreneurship in the organization.  According to the most recent research conducted by the Conference Board, CEO Challenge 2013, innovation is among the top 3 challenges faced by CEO’s in 2013. need to tackle. Moreover, this report also ranks at the top, issues related to human capital, for example training and retention, both important aspects of innovation.

Conference Board, CEO Challenge 2013

Conference Board, CEO Challenge 2013

In the pursuit of growth and innovation, executive leadership is committing to the allocation of dedicated teams that are responsible for leading the entire organization.  The Chief Innovation Officer is yet another important figure when it comes to guiding the plans and goals of organization towards creation of new ideas and profit. The Innovation Leader Forum (ILF) has been working for the past three years connecting innovators and leaders who are directly concerned for the initiation of an organizational change.

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Innovation must encompass the entire organization

Innovation in any organization is about doing something new or different which would turn out to be beneficial.  It involves the encouragement of new ideas and perspectives in all dimensions of the business and it must go all the way from operations to customer service.  For innovation initiatives to be truly effective, they must encompass the entire organization.   Among the numerous facets to consider, there are four key aspects that require special attention and these are,

Sony Latin America’s Juan Meza asked, “Who is going to make the next iPhone? Is it going to be Apple? Probably not.” PHOTOS: Carlos Miller

Vision

Many organizations lag behind maybe because they over emphasize on historical performance and data.  Traditional thinking leads us to repeat those things that have worked in the past.  The risk of only focusing on what have worked in before, is that the one thing that was successful before does not guarantee success in the future.  In reality, innovation encompasses looking in the forward direction and not necessarily backwards.

Training

Another core reason, for which most of the companies fail to respond to the need of the modern times, lies in the lack of training.  If the employees and other people linked to the organization are not trained on the latest techniques and methods, growth and expansion of a business will be much slower.  This is often one of the most overlooked aspects of the innovation puzzle, yet one of the most important since most often than not, employees and partners play the most important role in accelerating organizational change or stopping it on its tracks.

Teamwork

Collective effort is something which can be termed to be the backbone of an organization.  The outcome of teamwork is speed and efficiency.  Most modern business challenges are extremely complex, it is unlikely for individuals to get as far as if the task is done collaboratively.  There is no such thing as individualism when working an organization and the companies which emphasize on the teamwork and collaboration are the ones that gain the maximum rewards and profits.

C-Level Support

We are beginning to notice some organizations embrace innovation at the highest levels with the creation of a new C-Level function; welcome the new Chief Innovation Officers. We are seeing these new CIOs transforming the innovation arena, as they not only get the chance to tap on organizational wide resources but have also the responsibility to bring new revenue.  The key point is to secure executive management support to tap the right resources across the organization.

Innovation initiatives are often seen as risky investments by some, however in the hyper competitive environment we live in today, those organizations who do not innovate will soon find themselves fighting for survival as they one day will notice their sales had vanish overnight.

For more on this topic go to  http://www.worldcityweb.com/event-coverage/marketing-connections/101-innovation-sonys-meza-says-must-encompass-entire-company

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Principles of persuasion

  1. Reciprocity
  2. Scarcity
  3. Authority
  4. Consistency
  5. Liking
  6. Consensus

BitCoin (BTC) an alternative to cash – Trends to watch in 2013

According to Global Trends in their GT Briefing December 2012: Trends to watch in 2013, they mention BitCoin as an alternative to cash under “Who needs Banks anyway?” section of their report.  This along with Mobile-wallets and Crowdfunding, are definitely things to keep close tabs on as I suspect they will gain significant traction to in 2013.

 

The Global Trends to watch in 2013 are:

  1. Social everything: New generations and their digital world stepping forward
  2. Redefining value: The consumer is winning the fight to own the new consumer
  3. Distributed everything:  Mobility in production and consumption
  4. The next “industrial” revolution: Robots and smart machines reshaping work
  5. The new space race: Pushing the frontiers of technology once again?
  6. Geopolitical wars: The fight to control the future
  7. Resource wars escalating: From a world of abundance to shortage
  8. Business stepping up:  From profit to purpose
  9. Information is power: The security challenge
  10. Who needs banks anyway? Reshaping the financial system

Extracted from Global Trends http://www.globaltrends.com/monthly-briefings/176-gt-briefing-december-2012-10-key-trends-to-watch-in-2013  Related presentation materials can be downloaded in PDF for further reading at http://www.globaltrends.com/images/stories/GT2013/Global%20Trends_Ten%20Key%20Trends%20to%20Watch%20for%202013.pdf

10 Crucial Consumer Trends for 2013

According to @trendwatching the top 10 Crucial Consumer Trends for 2013 are:

  1. Presumer & Custowners
  2. Emerging
  3. Mobile Moments
  4. New Life Inside
  5. Appscriptions
  6. Celebration Nation
  7. Data Myning
  8. Again Made Here
  9. Full Frontal
  10. Demanding Brands

Extract from Trendwatching.com  http://trendwatching.com/trends/10trends2013/

We Wait Too Long to Train Our Leaders

According to @HarvardBiz  the average supervisor manages people for 10 years before getting any training, but I have a suspicion some (maybe many) never do.

Extract from HBR’s Blog Network http://bit.ly/SPF6TD

Open Innovation — Crowdsourcing

Great compilation of open Innovation crowdsourcing resources.  At high level listed by:

  • Intermediary Platforms
  • Creative Co-creation
  • Corporate Initiatives
  • Per Production & P2P
  • Public Crowdsourcing

Great job by the guys at Open Innovators

Resolutions For Social Entrepreneurs In 2013

From “10 Resolutions For Social Entrepreneurs In 2013″ my favorite is”5. Embed and affiliate”, what’s your favorite?

 

  1. Talk to users
  2. Look upstream
  3. Evaluate
  4. Commit to impact, not the project
  5. Embed and affiliate
  6. Take care of yourself
  7. Connect to where you live
  8. Volunteer
  9. Take a risk
  10. Invent something

Extract from FastCompany’s Co.EXIST http://bit.ly/Us06AF

Top 20 Trends in 2013 Forecast – 2013 Trend Report from Trend Hunter.

 

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