24 May 10
There has been a lot of recent innobuzz about crowd-sourcing and looking outside for innovation. Both techniques have their place in idea generation, but what about the people who know your products the best? You know, your employees. Now, I am not saying you need to launch an innovation center like Bayer is to come up with the next big idea (albeit if you can, go for it), but rather think about ways you can grow or enhance your business from within.
The following are some companies who have successfully looked inside to innovate:
- Southwest Airlines: Southwest is using an idea management software tool to capture their employee’s ideas on improving and bettering processes. This web-based ideation tool allows employees in different geographic locations and of different levels to share ideas and work together to problem solve. Bringing internal minds together has enabled Southwest to improve internal processes and create efficiencies.
- Intuit: Intuit gives their employees 10% of unstructured time during their workweek (Google does something similar). During this time, Intuit employees are allowed to collaborate with others in order to develop new ideas. Viable products such as viewmypaycheck.intuit.com are results of such unstructured time. Read the rest of this entry »
10 May 10
The seventh annual iteration of the Boston Consulting Group and Businessweek’s Global Innovation Survey presents us with some interesting trends in innovation. As BCG so eloquently puts it, a new world order is taking hold. While no drastic disruptions have occurred this year, there are signs that the times are changing. The most noteworthy finding this year is that Rapidly Developing Economies (RDEs), led by China, India, and Brazil, are slowly gaining ground on the western world’s dominance in innovation. These countries have recognized innovation as the next arena to prove their capabilities and they are investing heavily in this effort. The RDE’s currently have an indispensable combination of fast GDP growth, prioritization of innovation, strong government support, and investment in talent-all of which help drive the group’s growing innovation success.
While the top ranked innovative global companies are mainly unchallenged, there are some hints of long term change. BYD, a Chinese manufacturer of automobiles and rechargeable batteries makes its debut on the list at number eight. The following companies round out the top twelve (check out our case studies on some of these key companies to learn from their innovation prowess):
- Apple (number one for the fifth year in a row!)
- Microsoft Read the rest of this entry »
1 July 09
The conversation would go something like this with a mom talking to her young son in 2028: “Honey, Exxon used to make gas to run cars. I know – really, It sounds funny but they used to be what we called a ‘oil and gas’ company, when cars ran on gasoline – and they made hundreds of billions of dollars doing it (that was a lot of money back then, son).” But apparently with the adoption of hydro-electric cars (brought on by legislative and economic incentives (read: subsidies)), that made the auto industries ‘dream to be green’ possible. Exxon therefore had to find a new industry or go out of business, It was shocking, really. With tremendous real estate and technology assets on their balance sheet (refineries) they wondered what else could be done with these refineries now that drilling for oil wasn’t a major revenue stream anymore. So, after fighting Mother Nature all these years, they finally embraced it. Sun (solar), wind power, water and manufactured land platforms at their disposal in the oceans across the globe (with some architectural tweaks) they became the largest farmer in the United States with more water/farm land than the states of (Nebraska, Iowa..and…). Exxon’s offshore farming industry took off – growing vegetables and farming fish while creating new eco-environments with the reefs they created. Now with grazing land at such a premium, both the Argentinean and US governments have asked Exxon to begin using some of their platforms for raising livestock. We expect the first offshore cattle to be ready for market in 2 years.
24 October 08
At the Convergence 2008 conference on automotive electronics yesterday, BMW announced that it is looking for partners with which to collaborate on an open-source car computing platform. No other auto companies have officially signed on to collaborate, though Chrysler, Ford, GM, and Honda have reportedly expressed interest. BMW’s goal, with or without partners, is to have an open-source operating system in a vehicle selling 200,000 or more units over the next five to seven years. Read the rest of this entry »
16 June 08
Honda announced today that it would begin commercial production of the FCX Clarity, a four-door, hydrogen-fuel-cell-powered sedan whose only emission is water. The vehicle, which was introduced as a concept about two years ago, was built from the ground up around hydrogen fuel cell power. The workings of this vehicle are perhaps its most revolutionary aspect. From Honda’s site: Read the rest of this entry »
8 May 08
Are you interested in private jet ownership, but frustrated with the skyrocketing costs of jet maintenance and ownership? If so, then JetSuite might be the solution for you.
All kidding aside – JetSuite is a new airline that’s taking a different approach to the luxury air travel market. The company has contracted to purchase fifty Embraer Phenom 100 Very Light Jets (VLJs) to use as part of an exclusive private jet fleet. The innovation here is that JetSuite aims to pass ownership of its fleet onto the public. The company is re-selling its fleet to individuals who would like the freedom and luxury of private jet ownership but are looking for a little help with the costs associated with said ownership. Basically, if you’re willing to pay for the Embraer Phenom 100 VLJ (est. starting price of $2.98 million), JetSuites will pay you $25,000 per month to rent it from you when you’re not using it. JetSuites will then operate a traditional private airline business using its rented fleet (similar to NetJets). Read the rest of this entry »
14 April 08
Lexus is serious about sustainable living. So serious that it has gone beyond the creation of luxury hybrid vehicles into the realm of curating a series of hybrid living concepts.
The company’s hybrid living website features various products, services, restaurants, and travel destinations that align with both the world of luxury and the world of sustainability (hence the “hybrid living” title). The site is sort of an online magazine that’s chock full of eco-luxe tidbits – fashion, art, transportation, architecture… all designed to show visitors that sustainable living doesn’t have to be all vegan and hemp.
Most recently, Lexus partnered with the Fairmont Hotel in San Francisco to create a Lexus Hybrid Living Suite. The suite was redesigned by Lexus and eco-savvy interior decorator Kelly LaPlante, and features an array of eco-friendly materials and furnishings for travelers seeking to minimize their carbon footprints without having to sacrifice luxury accommodations. Some notable features of the room include: Read the rest of this entry »