A number of companies with a large North Texas presence have been recognized on the 2021 ranking of the Most Innovative Companies by the Boston Consulting Group (BCG).
California’s Samsung sits at No. 6, though last year it nearly doubled its operations in Coppell. No. 11 Siemens is located in Washington, DC, but has a ‘significant presence in the Dallas region’ with some 1,700 employees. And PepsiCo, with a base in New York and another in Plano, is ranked No. 38.
And perhaps most notably, Huawei and Toyota, which both have their U.S. headquarters in Plano, came in at No. 8 and No. 21, respectively.
BCG’s annual report, titled “Overcoming the Innovation Readiness Gap,” has for 15 years recognized the organizations that put innovation at the center of their strategy. As the COVID-19 pandemic continues, BCG says that companies want (and need) to innovate—”but too few are ready to rise to the challenge.”
In its ranking, BCG looked at three success factors: making innovation a priority, committing investment and talent to it, and being ready to transform investment into results.
This year, 75 percent of companies reported that innovation is a top three priority. That number is up 10 percentage points, the largest year-over-year increase ever, BCG notes.
But, just under half of those companies are actually backing this claim with tangible resources, which BCG calls committed innovators. “An organization can create real value only if its underlying innovation system is ready to translate priority and commitment into results,” BCG writes. “On this dimension, the news is sobering.”
On BCG’s innovation-to-impact benchmarking framework (i2i by BCG), only a quarter of committed innovators scored 80 or higher. A perfect score is 100. This can be contributed to a readiness gap, according to BCG.
The 2021 Most Innovative Companies are “ready” to scale innovation. The top five, in order, are Apple, Alphabet, Amazon, Microsoft, and Tesla.
You can explore the report here.
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