10 Updates
A New Way Of Looking At The World's Most Innovative Companies

A New Way Of Looking At The World's Most Innovative Companies

Jan 13 2014, 9:08am CST | by

Over the past six months I’ve been involved in creating a new innovation benchmarking index. I’m really happy to say it has launched today. You can see the inaugural Elastic Innovation Index here....

Filed under: news

 
 
 

27 weeks ago

A New Way Of Looking At The World's Most Innovative Companies

Jan 13 2014, 9:08am CST | by

Over the past six months I’ve been involved in creating a new innovation benchmarking index. I’m really happy to say it has launched today. You can see the inaugural Elastic Innovation Index here. It covers all the attributes of digital transformation.

Still, the term “Elastic Innovation” needs a word of explanation. The idea is to indicate a range of competencies that let companies respond quickly to new opportunities and threats. It is a reference to elasticity in the economic sense of being able to respond to fluctuations in demand, but with a bit extra – being able to create and manage demand at scale, quickly. Our contention is that any company with these elasticity skills is going to be a winner, so we measure those characteristics. It also means they have the kind of fluidity that I covered here.

My partner in the index is strategy company Bluefin Solutions and I have had some great interaction with, and searching questions from, Lance Mercereau there, along with Ayisha Ali who has helped keep the process on track. Bluefin covered some of the cost of my involvement.

The debate around innovation and metrics, however, has generally overlooked the broad competencies of an enterprise in favor of things like the new gadget or the new product.

In fact when we talk about innovation we’re generally referring to one of two things. The first is the output – that shiny new object, that iPad or Nexus 7, or Mercedes Benz, that engaging new service or that handy new patent that gives you decent protection from competition.

The second is the specific innovation process. When we talk about that we get a little tongue-tied over creativity issues and we get seriously confounded by the innovation process: how to generate new ideas, evaluate them, move them through some kind of funnel and hit a market with expert timing.

There is a third way and that is to look at the overall competencies in an enterprise and the power to brig those competencies together with powerful new processes like platforms and ecosystems.

When you see innovation top 100 lists or top 50s they tend to be built around our understanding of the first of these three – the output.

It is very difficult to manage your business by looking at someone else’s outputs. You really need to be thinking about competencies and process. The Elastic Innovation Index has been built more from these two features.

In all we used five categories of competency and process to benchmark companies.

1. Social – the communications and marketing skills, and associated data, that help companies to build more powerful relationships with customers;

2. Platform and data – the combination of software, hardware, data and analytics that allows companies to develop and manage an ecosystem of customers, partners, or developers;

3. Leadership – the new approach to partnerships, creativity and peer-based leadership that allows the best  companies to make dramatic moves  into new markets;

4. Strategy – the collection of  innovation methods and intent that  marks companies out as pioneers;

5. Business process – the ability and willingness to adapt a company’s core  processes by externalizing many key skills requirements, or by sharing IP with partners and creating new services quickly.

In all we used 35 criteria to judge competency and process across these five pillars. I’ll come back with more in a later post but for now these are the winners, followed by a note on the overall number 1 company in the elastic innovation index Nike. Here are the top 20. You can find the top 50 here


Nike was an early adopter of a platform approach to its business, incorporating the iPod into Nike + back in the early 2000s and has now reinvigorated that with Fuel band. Nike is also blazing  a trail in 3D printing, with its prototyping of athletic shoe variants like the Le Bron X. More recently it began incorporating 3D printing into its finished products , with deeper levels of customization, particularly for elite athletes. As wearable computing becomes more ubiquitous, Nike is well placed to reap the benefits of experience./>/>/>

Fuelband allows Nike to dive deeper into data and to provide feedback to customers on their exercise regimes, taking the company across the chasm from product to service. It is also teaming with developers who will be increasingly able to develop for the Nike + Platform, taking Nike from apparel into the realm of high tech, platform, data analytics and constant responsiveness and change.

For all these reasons but also because the Nike executive team act like founders, because they know social, and because they carefully cultivate their intellectual property, they outscored every other company across the total 35 categories and became the benchmark company in the list. Nike is the one to follow, unless you really feel competitive in which case Nike is the one to beat.

Source: Forbes Business

 
Update
10

6 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

Cambodia's Famous Battambang Circus
KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

6 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

Collingwood Magpies Training Session
KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by robb ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

6 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

Federal Aviation Administration Bans All US Flights To Israel
KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejecte ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

6 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin Huss ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

6 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

INDIA-CHINA-DIPLOMACY-TRADE
PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern sta ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

6 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

Government Weekly Cabinet Meeting
KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

6 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Mi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

6 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

Iskandar Johor Open - Previews
JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involvin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

6 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

EurAsia Cup presented by DRB-HICOM - Day One
PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sch ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway (K ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

47 killed in Taiwan as plane makes botched landing (Roundup)
Taipei, July 23 (IANS) Forty-seven people on board a Taiwanese TransAsia Airways plane were killed in a failed emergency landing in the island county of Penghu Wednesday, Taiwan's transportation authority has confirmed.
 
 
47 killed in Taiwan plane's botched landing
Taipei, July 23 (IANS) Forty-seven people on board a Taiwanese TransAsia Airways plane were killed in a failed emergency landing in the island county of Penghu Wednesday, Taiwan's transportation authority has confirmed.
 
 
51 killed in Taiwan plane emergency landing
Beijing, July 23 (IANS) At least 51 people were killed and seven others injured when a passenger plane with Taiwan's TransAsia Airways made an emergency landing on the outlying island county of Penghu Wednesday, media reported.
 
 
High salt ups heart disease risk in diabetics
Tokyo, July 23 (IANS) People with Type-2 diabetes have more to add to their list of dietary restrictions as researchers have found that a high salt diet may double their risk of developing cardiovascular disease.
 
 
 

Latest from the Network

Commonwealth Games declared open after colourful but touching ceremony
Glasgow, July 24 (IANS) The 2014 Commonwealth Games got off to a colourful start with some enthralling performances by singers Rod Stewart, Susan Boyle and violinist Nicola Benedetti at the Celtic Park and a minute's...
Read more on Sport Balla
 
UN to probe human rights violations by Israel
Geneva, July 24 (IANS) A special session of the United Nations Human Rights Council (HRC) adopted a resolution Wednesday to launch an inquiry into human rights violations from Israel's latest military offensive in the...
Read more on Politics Balla
 
Toll in Gaza mounts to 701
Gaza, July 24 (IANS) The Palestinian health ministry said early Thursday that six Palestinians have been killed by Israeli airstrikes in the southern Gaza Strip town of Khan Younis. The death toll of the Israeli...
Read more on Politics Balla
 
Late Amy Winehouse still speaks to her dad
London, July 24 (IANS) It may sound bizarre but singer Amy Winehouse's father, Mitch, claims that he still talks to his daughter, who died from accidental alcohol poisoning in July 2011. Mitch has admitted he can...
Read more on Celebrity Balla
 
39 killed in Nigeria bomb blasts
Abuja, July 24 (IANS) At least 39 people were killed in twin bomb blasts in Nigeria's northern city of Kaduna Wednesday, security sources and eyewitness said. In the first blast, 25 people were killed while the second...
Read more on Politics Balla
 
Alyssa Milano knew she was expecting a baby girl
Alyssa Milano knew she was expecting a girl. The former 'Charmed' star had a feeling she was carrying a baby daughter, even before it had been confirmed by a doctor, because she suffered with morning sickness, which she...
Read more on Celebrity Balla
 
Nicola Roberts splits from boyfriend
Nicola Roberts has split from her boyfriend. The former Girls Aloud singer reportedly called time on her six-year relationship with businessman Charlie Fennell late last year after their romance fizzled out. A source...
Read more on Celebrity Balla
 
Eva Mendes' pregnancy was 'unplanned'
Eva Mendes' pregnancy was reportedly ''unplanned''. The 40-year-old actress is expecting her first child with boyfriend Ryan Gosling, 33, but the baby news allegedly came as a complete shock to the couple. A source...
Read more on Celebrity Balla
 
Naya Rivera adopts husband's surname on Twitter
Naya Rivera has adopted her husband's surname on her social media accounts. The 'Glee' star only tied the knot with Ryan Dorsey last weekend, but she couldn't wait to flaunt her new marriage as she has already changed...
Read more on Celebrity Balla
 
Zoe Saldana pregnant?
Los Angeles, July 24 (IANS) "Avatar" fame actress Zoe Saldana is reportedly expecting her first child. The 36-year-old is set to become a mother for the first time with her Italian artist husband Marco Perego, reports...
Read more on Celebrity Balla