Despite this year’s full of pandemic changes that have changed companies’ priorities, innovation remains a primary concern among companies around the world.
Using data from the annual rankings made by Boston Consulting Group (BCG) Using a poll of 1,600 global innovation experts, this graphic was ranked in the top 50 of the most innovative companies in 2021.
Below, we’ll take a closer look at some of the major companies and their innovative approaches.
Most Innovative Companies: Leaderboard Breakdown
To create the top 50 innovative company rankings, BCG uses four variables:
- Global “mind share”: Votes from all innovation executives.
- Industry peer review: The number of votes from executives in the company’s industry.
- Industry turmoil: Diversity index for measuring industry-wide voting.
- Value creation: Total share return.
For the second consecutive year Apple Claim the top spot on this list. Let’s take a look at the complete ranking for 2021.
|Company||industry||main office||Changes from 2020|
|3||Amazon||Consumer goods||🇺🇸 USA||—|
|Five||Tesla||Transport and energy||🇺🇸 USA||+6|
|9||Sony||Consumer goods||🇯🇵 Japan||—|
|Ten||Pfizer||Health care||🇺🇸 USA||return|
|12||LG Electronics||Consumer goods||🇰🇷 Korea||+6|
|14||Alibaba||Consumer goods||🇨🇳 China||-7|
|17||Cisco Systems||technology||🇺🇸 USA||-Five|
|18||the goal||Consumer goods||🇺🇸 USA||+4|
|19||HP Inc.||technology||🇺🇸 USA||-Four|
|20||Johnson & Johnson||Health care||🇺🇸 USA||+6|
|twenty one||Toyota||Transport and energy||🇯🇵 Japan||+20|
|twenty two||Salesforce||technology||🇺🇸 USA||+13|
|twenty three||Walmart||Consumer goods||🇺🇸 USA||-Ten|
|twenty four||Nike||Consumer goods||🇺🇸 USA||-8|
|twenty five||Lenovo||technology||🇭🇰 Hong Kong SAR||return|
|26||Tencent||Consumer goods||🇨🇳 China||-12|
|27||Procter & Gamble||Consumer goods||🇺🇸 USA||+12|
|28||Coca Cola||Consumer goods||🇺🇸 USA||+20|
|29||Abbott Laboratories||Health care||🇺🇸 USA||new|
|30||Bosch||Transport and energy||🇩🇪 Germany||+3|
|32||IKEA||Consumer goods||🇳🇱 Netherlands||return|
|33||FAST RETAILING||Consumer goods||🇯🇵 Japan||return|
|34||Adidas||Consumer goods||🇩🇪 Germany||return|
|35||Merck & Co.||Health care||🇺🇸 USA||return|
|36||Novartis||Health care||🇨🇭 Switzerland||+11|
|37||Ebay||Consumer goods||🇺🇸 USA||return|
|38||PepsiCo||Consumer goods||🇺🇸 USA||return|
|39||Hyundai||Transport and energy||🇰🇷 Korea||return|
|41||Inditex||Consumer goods||🇪🇸 Spain||return|
|42||Modana||Health care||🇺🇸 USA||new|
|43||Philips||Health care||🇳🇱 Netherlands||-20|
|44||Disney||Media & Telecom||🇺🇸 USA||return|
|45||Mitsubishi||Transport and energy||🇯🇵 Japan||new|
|46||Comcast||Media & Telecom||🇺🇸 USA||new|
|47||GE||Transport and energy||🇺🇸 USA||return|
|48||Roche||Health care||🇨🇭 Switzerland||return|
|49||AstraZeneca||Health care||🇬🇧 UK||new|
|50||Bayer||Health care||🇩🇪 Germany||-12|
One company worth touching Pfizer, Returnees from the previous year who ranked 10th in this year’s ranking. Not surprisingly, Pfizer created the list given its important role in the fight against COVID-19.Pfizer has partnered with BioNTech to launch the COVID-19 vaccine Less than a year.. This is impressive given that historically, vaccine development can take up to 10 years to complete.
Pfizer is just one of the four COVID-19 vaccine producers on the list this year.Modana, Johnson & Johnson, When AstraZeneca I also made a cut.
On the other hand, in a completely different industry Toyota We won 21st place on this year’s list, up 20th place compared to the ranking. Previous year..This massive jump is the company’s recent $ 400 million Investing in a company set up to manufacture flying electric vehicles.
R & D and innovation are often thought of as synonyms, but the former is just one of the innovation methods that helps businesses get on the list. Other companies have innovated in a variety of ways, including streamlining processes to improve efficiency.
For example, in 2021 Coca Cola Performed a beverage portfolio analysis and eventually reduced the brand list In half, 400-200 global brands. This reduction and pivot capability may be the reason behind the 20-rank increase from 2020.
Innovation creates value
Innovation is coming, as this year’s rankings show Many forms.. However, while there is no one-size-fits-all approach, there is one fairly consistent innovation trend. It’s the link between innovation and value.
In fact, according to BCG’s historical data, the correlation between value and innovation has become even stronger over the last two decades.
For example, in 2020, a portfolio theoretically invested in BCG’s most innovative companies would have been implemented. 17% Better MSCI World Index— That wasn’t the case in 2005.
Still, despite the value of innovation, many companies are not ready to expand their innovation practices and therefore do not enjoy the benefits of innovation.
Innovation preparation gap
BCG uses several indicators to assess a company’s “innovation readiness”, such as talent and cultural strength, an organizational ecosystem, and the ability to track performance.
According to BCG analysis 20% Some of the companies surveyed were ready to expand their innovation.
What is preventing companies from reaching their innovation potential?The most important gap seems to be what BCG calls Innovation practice— Project management and the ability to execute efficient, comprehensive strategies and consistent ideas.
To overcome this obstacle, BCG states that companies need to strengthen collaboration between departments and foster a “one-team mindset” to coordinate team incentives.
US vs. everyone else
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