Instruction
The World's Most Innovative Companies
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.