Corporate longevity is on the decline. In the 1960s, a typical S&P 500 company was estimated to last more than 60 years - these days, the average lifespan is just 18 years. In today’s fast-paced world, companies need to adapt quickly to changing markets and shifting consumer behaviors in order to thrive. Because of this, it’s become increasingly more important for businesses to prioritize innovation.
The ranking of the most innovative companies-2020 was published by Visual Capitalist based on a survey by Boston Consulting Group who has been ranking the most innovative companies since 2005.
The list includes four types of companies: technology, consumer goods & services, transportation & energy and healthcare. The companies have been ranked based on four variables:
- Global “Mindshare”. The number of votes from all innovation executes.
- Value Creation. Total share return.
- Industry Disruption. A diversity index to measure votes across industries.
- Industry Peer Review. The number of votes from executives in a company’s industry.
Half of the companies on the list are headquartered in the US, the rest are predictably from Europe, China, Japan and South Korea. With Apple at the top and McDonald’s at the bottom, with Tesla, Netflix and Xiaomi in between, the ranking list includes Salesforce. Thanks to Salesforce's constant research, regular provision of new, innovative solutions to their customers and a wide usage of AI based technologies, the world’s best CRM platform has been listed one of the most innovative companies by experts from Forbes and other respected companies numerous times.