Fast Company named Apple the most innovate company of 2012. Apple has been able to come out with products and services that consumers never even though would have existed and these products have changed the world we live in. Number 2 on the list is Facebook, followed by Google, Amazon and Square Inc. to round out the top 5. What do these companies have in common? And why are they so wildly successful?
Not only are these companies brands that are recognized world wide but they are all companies that have unique and relevant strategies. Each company has developed a winning strategy to complete globally for not only our wallets but also our loyalty. Apple has changed the way the world communicates, Facebook has changed the way the world stays connected, Google has been able to deliver fast efficient information (faster than ever before), Amazon has brought world sellers and buyers together 24 hours a day and Square has revolutionized how we pay for things.
Each company has specific goals that they set out to achieve internally and externally. While the goals these companies work towards may not have been the initial goal or first idea that the company began to operate on, innovation is what drives these companies towards the future. These companies have stayed relevant for years, and in some cases decades by being innovators in their respected industries. And those innovations have made them global leaders in their respective industries.
While these companies have more wins than losses another important aspect to innovation is failure. Here are a few examples of Apple and Googles biggest product failures:
By encouraging creative thinking failure is inevitable and there would be no great product with out a few duds.
Freedom is another great way to encourage innovation. By letting individuals or teams have the freedom to explore and test out their ideas new, even better ideas emerge (some even better that the original). Freedom will help encourage risk taking that may be otherwise discouraged.