In response to The FastCompany.com article on the 50 most innovative companies of 2015, I found it interesting how while there were many new companies finding ways to make e-business more creative, and simpler for the consumer, there were a few older companies that have taken the change of technology as a sign that they must change as well. Startups seem to be the norm in business these days, and the “tech boom” is continuing to grow. The rents in my city have also grown as a result, but let’s not get into that. I am certainly not saying that startups are an easy task, but perhaps, they are easier than taking an older company and changing its business model to reflect the change in technological times.
New companies like Fuhu have thrived in a very aggressive market by providing a similar product to those of Apple, and Samsung (two other contenders on the list) but in a more innovative way. Seeing the family market as relatively under crowded, Fuhu made tablets for kids, not for adults to put apps for kids on. Innovative lessons for kids come loaded on the tablet and the parental features such as “curfew time” and “virtual currency” gives parents and children interaction with each other as well as with the device. This is a great example of a new company making innovative changes to an overcrowded market of handheld electronic devices and created its own market for itself.
I was surprised to see companies on there that I have known about for a while now, predating the Internet in fact. Companies like HBO, Virgin America, Samsung and Toyota are examples of an older business seeing the change in the weather and adapting to those changes to stay relevant. HBO stands out to me because of the TV streaming market. Netflix and Hulu and many more services have dominated the home entertainment streaming party, and HBO with its HBO Go brand has come to that party with it innovative thinking outside the box to discover all options. In the end they have created a way for HBO content to be streamed on multiple devices reaching the user were they are.
The user-centric model of business is not a new concept, but having to apply it to a rapidly changing technological environment is. The most innovative companies will not shy away from this tend, rather, they should embrace the change. Libraries have been doing this for many years, offering these new technological advancement and services to patrons. Something that will be the most willing to change will be something the will last and stay relevant.
The World’s Most Innovative Companies 2015. Fast Company. Retrieved from http://www.fastcompany.com/section/most-innovative-companies-2015.