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Top Lessons from Innovation Leaders

August 18, 2016

As the landscape for innovation evolves, businesses around the globe provide useful examples of innovation done right.

> SQUARE: Seek constant change

Dominating the mobile point-of-sale market, Square owes much of its success to relentless evolution. To encourage collaboration, Square promotes “hot desking,” where no one is assigned a desk and employees regularly rotate workstations throughout the office.

> IKEA: Give INNOVATION a place to thrive

Employees of the largest furniture retailer in the world are not the only beneficiaries of a rich culture of innovation. IKEA’s innovation lab, Space10, offers anyone the opportunity to use its space for development of new ideas it can take to market.  

> AIRBNB: BREAK THE STATUS QUO OR LEARN TO SURVIVE WHEN OTHERS DO

With net revenues of $900 million last year, home-sharing titan Airbnb has already captured a significant segment of the traditional hospitality market. Now, hotels will need a strong innovation strategy to stay relevant among such status quo disruptors.

> CVS: Embrace social responsibility

In a bold move, CVS discontinued its sales of tobacco products. Taking a stand, while risky, is relevant and increasingly expected in this community-conscious world. 

> Taco Bell: Explore the power of relationship

Businesses that are programmed to be on constant lookout for the competition sometimes miss a great opportunity for partnership. Taco Bell’s collaboration with Doritos is just one of the many successful, new product innovations the fast food chain has introduced lately.