In Pictures: 10 Innovative Companies Yours Should Copy
Everybody wants to work for a great company. Too bad they're so scarce.
Lots of companies come up with innovative ideas that could change
their industry and provide a commanding edge over competitors. But
great ideas are the easy part. "People equate innovation with
creativity and it's not the same thing," says Vijay Govindarajan, a
professor at Dartmouth's Tuck School of Business and co-author of The Other Side of Innovation.
"Companies get enamored with that 1 percent inspiration, the sexy
part. But innovation is the commercialization of creativity." And
executing great ideas turns out to be awfully hard.
[In Pictures:10 Innovative Companies Yours Should Copy.]
Some companies that seem remarkably innovative turn out to be
short-lived, one-hit wonders like Webvan or eToys, two of the biggest
dot-com flops. Others, like Netscape, build a transformative business
but succumb to deep-pocketed competitors who mimic their ideas and
simply outmuscle them. And some goliaths, like General Motors, Eastman
Kodak, and Motorola, become so dominant that they assume nobody can
knock them from their perch. Usually, somebody does.