Competitive Strategy and Innovation and Legal Environment & Business

The World's Most Innovative Companies

· The Business Dictionary defines innovation as "The process of translating an idea or invention into a good or service that creates value or for which customers will pay." In other words, a company can create, or invent all day long, but without satisfying a customer need, what is the point? In a start-up, entrepreneurs can come up with a list of ideas, but without converting the idea into an opportunity, the entrepreneur remains a hobbyist. From corporate to start-up, innovation is required in products as well as business models.

· Read Part 1 of the Drive Book.

· For this discussion, pick one company from Fast Company's article, "The World's 50 Most Innovative Companies." ( http://www.fastcompany.com/section/most-innovative-companies-2015 ). Please select one different than what your classmates choose. Describe the company's business model. What makes it an innovative business model? Do you believe it is a sustainable business model? Why or why not? Name one of the company's competitors. How does their business model differ from the company that you selected?

· Please review the Rubric for Online Discussions before starting.