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YEREVAN, JANUARY 10, ARMENPRESS: While technology and telecommunications companies continue to dominate the top ten spots on The Boston Consulting Group's list of most innovative companies, many traditional companies most notably industrial and automotive companies but also diversified conglomerates have joined the list, staking out their places alongside the usual tech suspects. The biggest social network is in the top 5 of the most innovative companies in the list of The Boston Consulting Group, reports Armenpress.
In this rating 1st and 2nd places go to Apple and Google which accordingly have been number one every year since 2005 and number two since 2006. But the world of bits and bytes no longer comes exclusively to mind when executives think of innovation. In a notable development, traditional industries such as industrial products and automotive together made up 40 percent of the list, comparable to the percentage that the technology industry held in 2010. Automotive companies made up 7 of the top 25 companies in 2012, for example, and 5 diversified industrial companies entered or returned to the rankings.
Industry-level shifts do not begin to describe all the changes going on in the innovation environment. The world of innovation may be a place where the small and nimble succeed, but it is also a place where the biggest and most diversified companies generate measurable advantages in scale and scope. These "premium conglomerates" have built their innovation capability so that they add value from the center to the diverse business units that they own. In all, 11 of the top 50 most innovative companies were diversified conglomerates.
Meanwhile, the usual pure-play life-sciences companies failed to achieve a spot in the rankings. Since 2007, only one pure-play health care company has placed in the rankings, and none has placed since 2009.