Innovation and Process Improvements

Innovation doesn't always apply to product development.  It can affect how process improvements occur throughout a firm's production of its goods and services.  In the 2018 report from the Drucker Institute's Top 250 firm rankings, many of the top "innovative" firms are not tech-based.  Companies such as Coca-Cola, Dow Chemical, and Walmart top the list because they are developing creative new business models to stimulate innovation processes.  

A lot of these improvements result in firm adaptations to the digital age, but are not specifically product-based.  For example, Capital One is experimenting with new adoptions of cloud technology and team collaboration processes, while Proctor and Gamble is doing more of the same with the cloud and process workflow enhancements.

From bots and digital robots to new uses for artificial intelligence, our current era of process innovation is creating corporate environments where streamlined, hyper-productive workforces are cutting through terabytes worth of data faster than ever.