5 Most Innovative Companies in the World

In my research and blogging, I want to take a moment to look at some of the most innovative companies in the world. There are a number of different classifications issued annually.

The most innovative companies in the world

Since 2005, BCG (Boston Consulting Group) has ranked the most innovative companies, based on its annual survey of more than 2,500 business executives (interviewing them on current innovation trends), along with a database of innovation performance for more than 1,000 large companies.

But why exactly are these companies considered innovation leaders according to the BCG ranking? Is it their new product? Or their approach to topics like climate change? While there are many different ratings for companies like Fast Company, including innovative companies around the world like Luckin Coffee, Stitch Fix, or the Walt Disney Company, we've taken a closer look at the top five companies on the Boston Consulting Group list and delve into what It differentiates these committed innovators from their competitors.

Ranking	Company	Innovation Excellence	Rank 2019	Rank 2018	Headquarter
1	Apple	Strong focus on user experience, deeply rooted in culture. Unique integration of hardware and software.	3	1	USA
2	Alphabet	A business model that fosters innovation (growing promising projects and transforming them into subsidiaries). Many aspects of cooperation in innovative areas.	1	2	USA
3	Amazon	A unique set of core values (instant access, extraordinary convenience, great choice). Develop new products and services based on customer insights.	2	4	USA
4	Microsoft	The great development of company culture. Strong capabilities in both hardware and software.	4	3	USA
5	Samsung	A diversified company with high technical knowledge. Strong capabilities in developing existing solutions and bringing them to market.	5	5	South Korea

In short, when we think of the world's most innovative companies, they solve problems in different ways. They solve complex problems in different ways.

But at the heart of what many of them do, is that they have a climate that encourages innovation.

Where there is pleasure and appreciation for new ideas, where there is no excessive control over management, where people are encouraged to do new things.

Where there is great contact with clients, where in general communication is encouraged, where they accept change, where failure is okay. 

Where they accept that with the risk and challenge of doing new things there may be failure.

That there is a selection of employees on the basis of merit, and that there is promotion based on merit not age or inexperience, but more is given towards what you have accomplished.

And that there are sufficient resources directed towards research and development, and now not every company clarifies all its activities. 

But a lot of them do, and so we want to learn from them and we want to think about them even if they are a small team.

If we're a one-person team, and if we're a two- or three-person team, I encourage you to think about trying to institutionalize some of these.

Think about how you run your meetings, how you run your company and how you can develop and foster a culture of innovation.

See: What is Value Innovation and How Does it Work