Cars are no longer just
cars -- they have become "computers on wheels." Cars now have more computing
power than PCs or smart phones, running on millions of lines of software code,
and loaded with sensors - “Smart Planet”
For the first time in the
last 10 years, Auto companies have dominated into the top league of the world’s
most innovative companies list released by Boston Consulting Group. While Toyota has leapfrogged into the top 5 of
the list, Ford and BMW have moved into the top 10 list.
This is interesting as,
this implies the shift in strategy from being Customer Delight to Innovation
gaining prominence across industries to succeed in the new century.
BCG says an increasing
emphasis on more fuel-efficiency, intelligent safety systems, and in-vehicle
and vehicle-to-vehicle communications is driving much of the renewed innovation
in the auto sector
Perhaps it's because auto
companies have become technology companies
The dominance of innovation will be more rapid as
customer delight will become order of the day for survival and companies will
move ahead towards continuous innovation to be successful
The changing dynamics of the globalization will make
more organizations to move towards collaborative innovation to stay sustained
in high growth platform. Design thinking
and inclusive innovation within the organization and innovation outsourcing will
help enterprises to move up the value chain faster in a volatile and ever
changing business environment.
Tesla’s
bid to produce a self-driving
electric car, BMW’s light-weight
assembly for electric cars and GM
electric-car
aspirations are few other interesting stories besides Autonomous cars and
Cars on Hydrogen/Water as fuel which are expected to happen in due course.
“The
bar is continuing to rise for what it means to be a world-class innovator,”
says Andrew Taylor, a BCG partner who works on innovation strategy.
Innovation
is no longer the buzzword of tech firms, but companies in all industries must
be on top of their creative game to compete.
T Margabandhu
Marggo India
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