Innovative companies
Introduction
From a list of top fifty most innovative companies by Fast Company, three companies are selected. Nissan which came forth of the list is selected. The second company selected from the Fast company list is Huawei which appeared eightieth on the list. Lastly, PepsiCo which is listed number thirty-three is also selected (Fast Company 1).
Nissan is a Japanese global automotive company. The company is one of the largest automotive companies in the world. Nissan mission is to “provide unique and innovative automotive products and services that deliver superior measurable values to all stakeholders in alliance with Renault” (Nissan 1). The most renown Nissan brands are Marine, Forklift, Infinite, and Nissan. Nissan embraces product development as a key strategy for the achievement of its mission.
Nissan Company is innovative in pursuit of its mission and vision. To maintain its customer base in the automotive industry, Nissan has to embrace innovation. Nissan, in quest for survival in the global market, entered into alliance with Renault. The alliances have helped it to gain significant step in the global market. Nissan Company is innovative based on the fact that in its achievement of its mission, it fundamentally engages in extensive research to develop new technologies that inspire breakthrough in development of new products. As a strategy to strengthen its brands across the world, the innovative craftsmanship of the company enables it design and manufacture superior quality vehicle that guarantee deep customer satisfaction (Nissan 1). This has been witnessed recently with the rollout of a new Nissan NV200 cargo van in North America. This new vehicle is fuel efficient and offer exceptional comfort (Cullen 62).
Huawei mission is “to focus on our customers’ market challenges and needs by providing excellent ICT solutions in order to consistently create maximum value for our customers” (Huawei,1). This company is well known for innovative products and services that meet varied consumer needs. The commonest Huawei products are smart phones, fixed access products, transport network, data communication products, radio access products, and energy and infrastructure products (Huawei 1).
Huawei accomplishes it mission by focusing on innovation of its products. The company recognizes customers’ demands as driving forces for its innovation and therefore, innovatively engages in design and manufacture of products that not only meet customer demands but also offer superior quality as compared to competitors (Huawei 1). The company emphasizes continuous improvements of its product portfolio through constant innovation of products and services. Innovation is a source of impetus by the company to continuously progress and offer consumers excellent value (Low 143).
In its quest to be competitive and offer superior quality products and services, Huawei has insisted on building of innovation capabilities. The innovation capacity is enhanced through the allocation of over 18 percent of the total company revenues on research and development. The company has over the years used its innovative capabilities as a platform in the development of the global system for mobile communication (GSM) and third generation mobile communication systems (3G) (Fan 363). Technical superiority and customized technical solutions through differentiated innovation strategies are used by Huawei in the accomplishment of its mission (Gao 42-34). This has enabled the company to be more competitive in the global market amid stiff competition in the telecommunication industry in the world.
PepsiCo is a global food and Beverage Company incorporated in the United State and operates either directly or through subsidiaries in many countries across the world. PepsiCo mission is (PepsiCo 1),
to be the world’s premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity (PepsiCo 1).
The most renown PepsiCo brands are Pepsi-Cola, Frito-Lay, Tropicana, Quaker, and Gatorade. Each category of the brand has a varied number of product portfolios that are sold throughout the world (Chain Drug Review 1; PepsiCo 1).
PepsiCo has over the years strategized to capture new markets in the world through strengthening of its existing brands as well as broadening product portfolios through innovation. This comes amid stiff innovative achievement by the fierce rival, Coca-Cola. PepsiCo has been able to significantly invest in the new manufacturing facilities and new beverage plants for the purpose of expanding its product portfolio. Through its research centers, PepsiCo is manufacturing healthier products to meet customer changing preference for safer foods (Fast Company, 1). Additionally, the company has successfully transformed Frito Lay facilities into “near-net zero” manufacturing plant. This transformation has resulted in resulted in less electricity consumption thereby impacting on manufacturing practices. This has made the company win an award as recognition for innovation by GMA (Supermarket News, 1).
Conclusion
It is reasonable to acknowledge that companies have made it to the top fifty most innovative companies were quite innovative. Each of the three companies selected performed excellently well in innovating processes. Innovation is the core for any business to remain competitive in the global market. The three companies qualified to be on the list due innovativeness.
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