This month Forbes released its World’s Most Innovative Companies List, which is very from similar lists that have preceded it. Most innovation rankings for companies are subjectively based on popularity, size, revenue, past performances and even editorial whims. However, the Forbes World’s Most Innovative Companies List relies on investor interest to determine the ranks. Investors contribute to a company’s potential growth only if a company has a promising future, where innovation is key to success.
The methodology for this innovative companies list uses a concept called the Innovation Premium, which is calculated by projecting a company’s income, such as cash flow, from existing businesses as well as anticipated growth from those businesses. This is then compared against other market factors, which then predicts futures based on a complex algorithm. More information on the algorithm used to determine the most innovative companies can be found on the Forbes site. The book The Innovators DNA, from Harvard Business Press, also gives valuable insight into the work involved in calculating innovative companies and provides an in depth explanation of methodology. For now, let’s have a look at the top three most innovative companies.
This medical technology company designs, manufactures and markets da Vinci Surgical Systems, as well as related instruments and accessories. Da Vinci Surgical Systems are highly advanced surgical robots that assist surgeons and medical practitioners with invasive surgery, making it a deserving most innovative company. The da Vinci surgical systems mimic the hand movements of surgeons, which are performed on controls, providing intuitive control, range of motion and fine movements. The field of robot assisted surgery is expanding rapidly, and Intuitive Surgical is a world leader, earning it third spot on this most innovative companies list.
Most of the world is at least familiar with online retailer Amazon.com and has used its services to purchase books, DVD’s and other products. Another innovation was the manufacturing of the Kindle, which enables customers to purchase digital copies of their favourite publications, making purchasing fast, efficient and economic. Amazon’s success has been its central focus on selection, price and convenience. Furthermore, Amazon.com has four different sets of customers, namely consumers, sellers, enterprises and content creators. Another reason why Amazon.com makes this most innovative companies list is its marketing. It has a programme that allows content creators to sell products on their own websites and fulfil an order.
Saleforce.com makes the top spot in the Forbes World’s Most Innovative Companies List. In short, the company provides an enterprise cloud computing applications as well as customer collaboration relationship management (CRM) services to small, medium and large businesses around the world. It’s also a technology platform that allows businesses to run applications. The company has grown rapidly in size and has acquired major companies over the past two years. Considering the demand for its services and its technological achievements, it’s the number one most innovative company on the Forbes list.
Penny Munroe is an avid writer in business related news and tips. Articles include sourcing the best office space San Francisco has on offer to digital markating tips.