Greetings. As a strategy and innovation consultant, I always look forward to Fast Company’s annual issue on “The World’s 50 Most Innovative Companies.” It is a quick read and a great chance to be inspired by some of the most creative and disruptive businesses and organizations on the planet. And I would think that it should be required reading for all of us as we try to keep up in our super-fast changing economy.
This year’s issue shows just how diverse and remarkable the practice of innovation has become as new technology companies like Buzzfeed, Airbnb, Uber, Spotify, Robinhood and others continue to re-imagine existing industries while more traditional companies like CVS Health, Universal Studios, GE, and even Taco Bell reinvent themselves in ways that bring greater value to their customers. In the case of 53-year-old CVS, a company that gained a lot of very positive publicity when it decided to stop selling cigarettes and other tobacco products, it is not-so-quietly morphing from a huge ($153 billion in annual revenues) drugstore chain into a one-stop retail healthcare business with its Minute Clinics, optical and hearing exams, a new focus on wellness offerings, and a new “predictive medicine” partnership with IBM.
Buzzfeed, this year’s top innovator is continuing to transform the media landscape of video, news and information, and advertising through its culture of constant learning and embracing change, a sharp focus on data-driven metrics, and a deep understanding of what made companies like Paramount Pictures and CNN connect with audiences in the past.
I often talk about the power of learning from strangers and getting outside our offices and our comfort zones to discover new insights and new business models. And while the physical and psychological act of getting up and out is a powerful part of what it takes to stretch our thinking, a quick or slow read of this issue is bound to inspire anyone with a commitment to being faster in a world that demands that we pick up the pace.
We win in business and in life when we pay attention to brilliance all around us, and when we recognize the need for speed.