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Five Indian firms among world's most innovative
Friday September 07, 2012 08:58:12 AM,
IANS
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Washington: Five Indian
companies including Larsen & Toubro, Hindustan Unilever and
Infosys are ranked on Forbes magazine's list of "The World's Most
Innovative Companies" topped by four US companies.
Larsen & Toubro with an annual sales growth of 19 percent is
ranked ninth in the world followed by Hindustan Unilever (12) with
11.4 percent. Infosys (19) comes third with 12.7 percent growth
thanks to what the US business magazine called a lower "innovation
premium."
This measures the difference between the value of the company's
existing businesses and its expected future innovations. Companies
must also have $10 billion in market capitalization and spend at
least one percent of their asset base on research and development.
Tata Consultancy Services (29) with 19.5 percent was fourth among
Indian companies with Sun Pharmaceutical Industries (38) with a
14.6 growth bringing up the rear.
Four US companies- Cloud computing king Salesforce.com, drug major
Alexion Pharmaceuticals, internet retail giant Amazon.com and open
source software leader Red Hat took the top four places.
Forbes said its analyses show at least three key things that the
innovative companies do to create and sustain an innovation
premium. These were: How well companies leverage people, process,
and philosophies, differentiates the best in class from the next
in class when it comes to keeping innovation alive and delivering
an innovation premium year after year.
Forbes also featured S.D. Shibulal, cofounder and CEO of Infosys
(#19 this year; #15 last), calling him "both observer and
experimenter." In his 30 years at Infosys Shibulal says "there is
nothing that I have not done."
He was the first sales person, has done account management,
launched its internet consulting practice, is a network expert,
helped design and launch its first ecommerce application, and has
been the head of both delivery and sales, the magazine noted.
To get a new perspective, Shibulal took a five year sabbatical to
work for another firm, Sun Microsystems, Forbes said. He's also
known as an experimenter and "gadget freak" and revered as a
"gizmo guru."
Forbes said it had found that successful leaders personally
understand how innovation happens and they try to imprint their
behaviours as processes and philosophies within their
organization.
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