Insider Monkey

25 Most Innovative Companies Of All Time

Ali Hassan
19 min read

In This Article:

In this article, we will take a look at the most innovative companies of all time. If you want to explore similar companies, you can go to 5 Most Innovative Companies of All Time.

Humans have been innovating since they first stepped foot on Earth. For any civilization, innovation was a milestone that changed the way of living. Today’s competitive market environment heavily depends on innovation. Entrepreneurs are constantly looking for unconventional ways to design new products and services to overcome old solutions. With the saturation of global markets, innovation has become critical across all industries. Innovation is a time taking process that requires a thorough understanding of the business idea and proper implementation.

As we mentioned earlier, innovation has become a buzzword since the launch of Apple’s first iPhone and it still circulates in the market, the media, and schools. Companies are focused on innovation more than ever before and it has become a prime target for executives. Startup is a new fancy name in the business world and the hype around this word is surreal. You can't understand the dynamics of a startup unless you work on a business idea. There are chances of failure and businesses that entered the market have experienced both success and failure. For instance, Quibi is one of the biggest startup failures in recent times. The short-form American streaming platform generated $1.75 billion from venture capitalists and media houses in two funding rounds. It was a few weeks before the target launch of Quibi when the world went into lockdown due to the COVID-19 pandemic. On April 6, 2020, Quibi launched its streaming platform in the U.S. and Canada. The company went on to release its streaming platform undermining the sudden shift in the market following the pandemic. A few months later on October 22, Quibi decided to quit its operations. Quibi’s founders pointed out the pandemic to be the root cause of its failure. However, it was the wrong decision-making of the founders which led to a collapse of such a massive investment. Therefore, running a startup and bringing innovation to the market isn't that simple. It requires building up a corporate setup that demands patience, right timing, and a lot of resources. Elon Musk in a podcast with Lex Fridman said, “What matters is the pace of innovation, access to resources, and raw materials.” 

Why Innovation?

For a company, innovation is a tool through which it survives the competition. Creativity is the key aspect of innovation and in business, creativity cultivates unique ideas. Creative ideas play a viable role in producing solutions to problems. However, creative ideas don’t guarantee innovation, but for an idea to be innovative, it must be useful for the consumer. James Chin Moody who holds a Ph.D. in innovation theory believes that innovation is not a noun but rather a process of technological change. Moody who is the CEO of Australian package delivery company, Sendle, while talking to CNBC Make It said:

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