In Pictures: 10 Innovative Companies Yours Should Copy
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.
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Author: Rick Newman
