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The World’s Most Innovative Companies
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- The Business Dictionary defines innovation as “The process of translating an idea or invention into a good or service that creates value or for which customers will pay.” In other words, a company can create, or invent all day long, but without satisfying a customer need, what is the point? In a start-up, entrepreneurs can come up with a list of ideas, but without converting the idea into an opportunity, the entrepreneur remains a hobbyist. From corporate to start-up, innovation is required in products as well as business models.
- Read Part 1 of the Drive Book.
- For this discussion, pick one company from Fast Company’s article, “The World’s 50 Most Innovative Companies.” (http://www.fastcompany.com/section/most-innovative-companies-2015). Please select one different than what your classmates choose. Describe the company’s business model. What makes it an innovative business model? Do you believe it is a sustainable business model? Why or why not? Name one of the company’s competitors. How does their business model differ from the company that you selected?
- Please review the Rubric for Online Discussions before starting.
700 words,No APA required,Original Work and No other internet sources.