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The most innovative companies in the world got where they are today by daring to dream big, says Joachim Wuilmet, head of marketing and corporate affairs at Nokia.
Speaking at the Engage conference on Monday, Wuilmet listed the top five habits of innovative companies in his presentation. The conference brought innovative thought-leaders, real-world case studies, practical training sessions, and technical solutions under one roof to equip attendees with all the inbound marketing tools needed to drive change.
"Innovation is about making things differently in order to create value," said Wuilmet. "Sometimes you start with an inferior product before refining the idea."
Innovative companies, he said, have bold ambitions and aren't afraid to chase them. He pointed out that Nokia went from being known as a mobile phone company to having multiple interests today including virtual reality, digital heath, network infrastructure, 5G, smart cities, and the Internet of Things (IoT). Nokia's mission today, he said, has to do with expanding the human possibilities of the connected world.Wuilmet also pointed out that innovative companies reinvent themselves when needed. Don't hesitate to change your business, he encouraged. This is especially true if you find that your business is not working out as you originally planned. Thirdly, he highlighted the fact that there is a wealth of talent to be found almost everywhere in the world and that enterprises shouldn't try to chase an idea alone. As an example, he highlighted the Nokia Open Innovation Challenge 2016, which attracted innovators, startups, and academics from around the world to work together on the next big ideas and new business models in the IoT domain.
He also talked about the importance of turning ideas into a business. "Many people think of innovation as a bunch of college dropouts in a garage coming up with the next big innovative idea. However, innovation has to be a process. While many innovators might feel that innovation is crippled by processes, the truth of the matter is that innovation can be found at every step of the process as you go from an idea to its execution."
Lastly, when it comes to innovation, he said that it is important to never say never. Sometimes, the best ideas are the ones that are sensational to the point of people saying that it will never happen. Wuilmet candidly pointed to Heinz and how it came up with its upside down ketchup bottle design at a time when people only knew the upright bottle design.
- rohma@khaleejtimes.com
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