3 Things Some Of The Most Innovative Companies Of 2016 Have In Common
FastCompany recently launched its list of most innovative companies of 2016. It was no surprise to see some of the fastest growing brands. Among those 50 companies, there are giants such as Facebook, Amazon, and Apple, but also less known brands.
By digging up the story behind some of these innovators, I spotted some practices that are often seen in a Design Thinking environment. Here are three of them:
#1 Promoting innovation leadership
Assigning top-tier managers with innovation roles: that’s a move that may sound obvious, but is often overlooked by many companies. Having experienced executives in charge of driving innovation may not only accelerate growth but also set an example for the whole company culture and employees. It showcases how invested is the company in innovating and gives everyone a leap of faith to create and contribute. The result is an organization that naturally envision and execute innovations.
Taco Bell’s ‘Chief Food Innovation Officer’, BuzzFeed’s ‘Chief Creative Officer’, GE’s ‘Chief Experience Officer’, and Shopify’s ‘Chief Design Officer’ are just a few examples of diverse roles that reinforce innovation at the company’s core. Regardless of each manager’s background, they are all leading new projects and processes that allow their companies to be under their industry’s spotlights.
#2 Focusing on people
Being not only customer-centered, but people-centered businesses. The difference is subtle, but sometimes essential to so many breakthrough innovations.
Becoming a charity or nonprofit is not necessarily the only path to human-centered businesses. In fact, thinking too much about current ‘customers’ may sometimes be so limiting, to the point of stopping us from breakthrough innovations.
But when we attempt to look at the big picture, those who were never ‘customers’ may finally become one. Think about Uber and their new positioning as a ‘populist’ brand, aiming for revolutionizing the global transportation and logistics industry; or the Robinhood app, with its goal to democratize stock trading; or Airbnb, democratizing authentic, local travel experiences. These are a few examples of innovators that are continuously grabbing new markets and growing exponentially by focusing on people.
#3 Being experience-driven
We all know the term ‘customer experience’ is becoming more popular than ever. After all, some of those top 50 innovators are showing us how to take it seriously and implement its principles at the very core of their businesses.
The increasing accessibility to new digital devices and channels, is slowly removing the boundaries between tangible and intangible products. Businesses see themselves forced to re-think and design new experiences, looking not just at touchpoints but complete customer journeys. And this holistic view often leads to disruption.
It’s not just about improving or creating new products and services. It’s about changing the rules of the game. We can see it in BuzzFeed’s successful attempt to move from the publisher’s comfort zone to a whole new social environment to spread its content. The startup Shyp may also be on its way to disrupt the delivery services industry, by recreating the shipping experience for small businesses.
These patterns show us the importance of constantly re-inventing our approach, our vision of customers and the world. It’s what set apart the stagnant businesses and active innovators.
