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The Top 10 in Asian Innovation

The Top 10 in Asian Innovation

By the strictest definition, “innovation” is when “something new or different is introduced.”

This is a simple definition for a word that represents some of the most exciting and forward thinking ideas and technologies of our time. Innovation can come in many forms and from all areas.

The first telephone and electricity in the home are both innovations of their time. Those are things that have become so commonplace that we take them for granted. What does it take to be considered innovative in today’s society? We have come a great deal farther than the implementation of the telephone and the use of electricity.

Forbes recently released an article highlighting the most innovative companies across the globe. Of the 100 companies on the list, 20 of them are from Asia. The scale they use when determining which companies are the most innovative is based on their innovative premium, or how much the stock market believes that the company will come up with new ideas that will improve the business.

On this short list are some companies that you might expect to see there. Baidu, China’s answer to Google easily made the list at #6 while Rakuten, the online retailer rivaling in the Asian market and Yahoo Japan, who just made the list this year, came in at 9 and 38, respectively. Along with these internet moguls are a few surprises. Henan Shuanghui, a pork processing plant, has also made the list, coming in at number 11 and Keyence, a manufacturer of barcode scanners and microscopes.

There are a few things that all of these top companies have in common other than the title of “Most Innovative”. All of them share a forward facing outlook on technology.

Whether that means that they are integrating further into smart phone applications or whether they are continuing to improve efficiency and effectiveness with quality standards and procedures, or branching out into an area that, by its very novelty is creating a unique kind of buzz, each of these companies is embracing a direction that has been thus far unheard of or rarely used in their industry.

Being a top innovative company requires outside of the box thinking and risk taking.

It means being willing to go further than your competitors to keep your clients excited about your product. There is no room in the innovative company for stagnation. If you are aiming for this list, take a look at your inner workings and find those places that have been operating the same way since the beginning. Are you keeping your business from stagnation?