As the world’s most innovative companies have been getting bigger, the revenue of a typical “small” company on BCG’s 2020 list of the 50 most innovative companies is $30 billion.
From 162 companies that have been on BCG top 50 list over the past 14 years,
- 30% appeared just once
- 57% appeared three times or fewer
- Only 8 companies have made the list every year: Alphabet, Amazon, Apple, HP, IBM, Microsoft, Samsung, and Toyota.
The research for this 14th edition of BCG’s Most Innovative Companies report started before COVID-19 emergence.
Innovation is a top-three management priority for almost two-thirds of companies.
BCG disaggregate its findings further:
- “Committed innovators” (45% of the total) say that innovation is a top priority, and they support that commitment with significant investment.
- “Skeptical innovators” (30% of the total) are the reverse, seeing innovation as neither a strategic priority nor a significant target of funding.
- “Confused innovators” (25% of the total) are in between, with a mismatch between the stated strategic importance of innovation and their level of funding for it.
In a world where every industry is becoming a technology industry to some degree, this kind of boundary-busting innovation is an increasingly important innovation capability. BCG therefore added a new scoring dimension to our most innovative companies ranking methodology that captures each company’s variety and intensity of boundary breaking. New players that are active across industry borders and exemplify this trend include firms such as Sony, Nike, Xiaomi, and JD.com.
Automakers, chemical companies, retailers, and industrial manufacturers are also working for new technology-enabled business models and revenue streams outside their own core businesses such as Tesla, Volkswagen, and Bosch.
You can read more details here.