HYPOTHESIS STATEMENT

“PRODUCT INNOVATIONS – THE KEY TO SUCCESS”

INTRODUCTION

If we look at success stories of organizations in the past and present

we see that the key to success is innovation. And in the future,
innovation will play an even increasingly significant role for the
prosperity of virtually every kind of organization no matter if it is a
start-up, a multinational or a country.

INCREMENTAL and BREAKTHROUGH INNOVATION

Thinking of innovation we have to differentiate between incremental

und breakthrough innovations.

In incremental innovation companies improve their products step by

step, enhance the way they serve their customers little by little.
Gillette introducing a razor with three instead of two blades,
Lufthansa increasing the service level for business class travellers
by serving freshly squeezed orange juice are some examples for
incremental innovation. Incremental innovation is usually based on
marketing activities generated by asking the customer and
understanding their needs. This is of course nothing objectionable;
however the result is that a company plays the same game but
better than the competition which results in higher market share
and fortunes for companies.

In breakthrough innovation, companies think of new ways to

compete, a company can catch its bigger competitors off guard. One
way to change the game is to introduce a radical technological

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innovation. The invention of four-wheeled automobile by Gottlieb
Daimler is such an example – a completely new product opening a
totally new market beyond horse-drawn carriages or steam
locomotives.

But breakthrough innovation does not always require a dramatic

technological innovation. Even more, a technological innovation
must be embedded into a strategic framework. Companies have to
set up this strategic framework by answering three questions:
• Who is going to be our customer?
• What products or services should we offer the customer?
• How should we offer these products or services cost
efficiently?

NEW PRODUCTS, NEW PROCESSES AND NEW CUSTOMERS

When we talk about innovation we usually think of new

products or services. Sony’s Walkman, Apple’s Ipod, 3M’s Post-it-
Notes are examples of innovative products generating huge
revenues. Rethinking “What should we be selling to our customers?”
has to go beyond identifying the obvious customer needs or
changing behaviours. Companies have to think ahead and identify
new products or services to offer before the customers even think of
them, means companies should find and address the customer’s
dormant needs, which even the customer is not aware of.
Another source for innovation can be the rethinking of “How
can we offer our products or services in a more profitable way?” The
result might be a process innovation. Dell, for instance, became
successful not by introducing a new product – they sell just normal

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personal computers – but they became successful by deconstructing
the value chain of their business.
Last but not least, a fundamental rethinking of “Who is my
customer?” can also help change the rules of the game. It helps
identify new customers or re-segment the existing customer base
more creatively and thus form new segments. By offering low price
tickets, Deccan airlines captured a completely new customer
segment which used trains and long route buses for travelling within
the country. Running an airline profitably despite low prices,
however, requires the innovation of the complete business model.

Innovation is critical with respect to marketing. There are 12

dimensions of business innovation – Offering, Platform, Solutions,
Customers, Customer experience, Value capture, Processes,
Organizations, Supply chain, Presence, Networking, Brand

Innovative products and services are the lifeblood of the firm in a

highly competitive global market place. “Insanely great products,”
as Steve Jobs has coined them, generate healthy demand, profits
and customer loyalty. Creating such products and services requires,
above all, that you understand your potential customers, i.e. who
they are, what motivates them to do business with your
organization, and how they can be influenced to become better
customers.

Innovative organizations are likely to be focused on understanding

and meeting the needs of customers, rather than seeking innovation
for its own sake.

“What helps us most in our process of innovation is our customers.

We put our customers first, understanding what their needs are and
listening to what the experience is like for them.”

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Characteristics of best innovative leaders
1. Ability to tolerate ambiguity
2. Ability to assess and be comfortable with risk
3. Ability to balance passion and objectivity
4. Ability to change
5. Ability to command respect

DATA OBSERVATION:

The Business Week -Boston Consulting Group gives the list of the
World’s Top 50 Most Innovative Companies, which is based on an
online survey. Survey was conducted in 1,500 largest global
corporations, determined by market capitalization in U.S. dollars.
The survey consisted of 20 general questions on innovation and an
optional 12 questions focused on innovation metrics.
A total of 2,468 executives answered the survey. Of those indicating
their location, 77% were from North America, 12% were from
Europe, and 9% were from Asia or the Pacific region.
The top 50 innovators in the world are world-class companies
(Fortune 500 companies-except a few) creating new innovations
through unmatched creativity and driving profitable growth, as
shown in table below.
WORLD’S TOP 50 INNOVATIVE COMPANIES FOR 2008
RANK FORTUNE 500 RANK COMPANY HQ COUNTRY
1 337 APPLE USA
2 150 GOOGLE USA
3 5 TOYOTA MOTOR JAPAN
4 12 GENERAL ELECTRIC USA
5 136 MICROSOFT USA
6 - TATA MOTORS INDIA
7 - NINTENDO JAPAN
8 79 PROCTER & GAMBLE USA
9 75 SONY JAPAN
10 88 NOKIA FINLAND
11 171 AMAZON USA
12 15 IBM USA
13 107 RESEARCH IN MOTION CANADA
14 78 BMW GERMANY
15 41 HEWLETT-PACKARD USA

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 16 40 HONDA MOTOR JAPAN
17 207 WALT DISNEY USA
18 9 GENERAL MOTORS USA
19 206 RELIANCE INDUSTRIES INDIA
20 93 BOEING USA
21 61 GOLDMAN SACHS GROUP USA
22 327 3M USA
23 1 WALMART STORES USA
24 102 TARGET USA
25 - FACEBOOK USA
26 38 SAMSUNG ELECTRONICS SOUTH KOREA
27 29 AT&T USA
28 - VIRGIN GROUP BRITAIN
29 18 AUDI (VOLKSWAGEN) GERMANY
30 359 MC DONALD'S USA
31 11 DAIMLER GERMANY
32 277 STARBUCKS USA
33 - EBAY USA
34 53 VERIZON COMMUNICATIONS USA
35 218 CISCO SYSYTEMS USA
36 7 ING GROEP NETHERLAND
37 - SINGAPORE AIRLINES SINGAPORE
38 37 SIEMENS GERMANY
39 99 COSTCO WHOLESALE USA
40 20 HSBC BRITAIN
41 28 BANK OF AMERICA USA
42 2 EXXON MOBIL USA
43 280 NEWS CORP USA
44 4 BP BRITAIN
45 153 NIKE USA
46 106 DELL USA
47 85 VODAFONE GROUP BRITAIN
48 188 INTEL USA
49 267 SOUTHWEST AIRLINES USA
50 234 AMERICAN EXPRESS USA
DATA ANALYSIS:
The top 50 innovators in the world are world-class companies
creating new innovations through unmatched creativity as shown in
above table and apart from this these are the companies which are
generating huge revenues year on year and driving profitable
growth, giving meaning to success as satisfying customer needs by
giving innovative products and services to them and profit to firm at
a rate faster than its competitor in that segment. This is explained
as follows, (all financial figures are Year End Figures).

1. Google Company Description

Google operates the leading Internet search engine, offering

targeted search results from billions of Web pages. Results are
based on a proprietary algorithm -- Google's technology for ranking
Web pages is called PageRank. The company generates nearly all of
its revenue through ad sales. Advertisers can deliver relevant ads

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targeted to search queries or Web content. Google also operates the
Google Network, a network of third party customers that use
Google's advertising programs to deliver relevant ads to their own
Web sites. Founders Sergey Brin and Larry Page each have
nearly 30% voting control of the company.

Google Income Statement

2007 2006 2005

16,59 10,60 6,138
Revenue ($ mil.)
4.0 4.9 .6
9,944. 6,379. 3,561
Gross Profit ($ mil.)
9 9 .5
Total Net Income 4,203. 3,077. 1,465
($ mil.) 7 4 .4

2. Apple Company Description

The company scored a runaway hit with its digital music players
(iPod) and online music store (iTunes). Apple's desktop and laptop
computers -- all of which feature its OS X operating system -- include
its Mac mini, iMac, and MacBook for the consumer and education
markets, and more powerful Mac Pro and MacBook Pro for high-end
consumers and professionals involved in design and publishing.
Other products include mobile phones (iPhone), servers (Xserve),
wireless networking equipment (Airport), and publishing and
multimedia software. Its FileMaker subsidiary provides database
software.

Apple Income Statement

2007 2006 2005

24,00 19,31 13,931
Revenue ($ mil.)
6.0 5.0 .0
8,154. 5,598. 4,043.
Gross Profit ($ mil.)
0 0 0
Total Net Income 3,496. 1,989. 1,335.
($ mil.) 0 0 0

3. Toyota Company Description

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Toyota Motor Corporation, Japan's No.1 carmaker, has a driving
ambition to become greener. The company makes a hybrid-powered
(gas and electric) sedan -- the Prius -- that is being snapped up in US
and European markets. Its gas-powered cars, pickups, minivans, and
SUVs include such models as Camry, Corolla, 4Runner, Land Cruiser,
Sienna, the luxury Lexus line, the Scion brand, and a full-sized
pickup truck, the V-8 Tundra. Toyota also makes forklifts and
manufactured housing, and offers consumer financial services.

Toyota Income Statement

2008 2007 2006

262,39 202,86 179,08
Revenue ($ mil.)
4.0 4.0 3.0
47,599. 39,981. 34,834.
Gross Profit ($ mil.)
0 0 0
Total Net Income 17,146. 13,927. 11,681.
($ mil.) 0 0 0

4. GE Company Description

From turbines to TV, from household appliances to power plants,

General Electric (GE) is plugged in to most of the businesses that
have shaped the modern world. The company produces -- aircraft
engines, locomotives and other transportation equipment, kitchen
and laundry appliances, lighting, electric distribution and control
equipment, generators and turbines, and medical imaging
equipment. GE is also one of the pre-eminent financial services
companies in the US. General Electric Capital, comprising
commercial finance, consumer finance, aircraft leasing, and energy
financial services, represents the company's largest segment. Other
operations include the NBC television network.

GE Income Statement

2007 2006 2005

172,73 163,39 150,24
Revenue ($ mil.)
8.0 1.0 2.0
99,613. 89,281. 83,428.
Gross Profit ($ mil.)
0 0 0
Total Net Income 22,208. 20,829. 16,711.
($ mil.) 0 0 0

5. Microsoft Company Description

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Microsoft's ambitions are anything but small. The world's No.1
software company provides a variety of products and services,
including its Windows operating systems and Office software suite.
The company has expanded into markets such as video game
consoles, servers and storage software, and digital music players.

Microsoft Income Statement

2008 2007 2006

60,42 51,12 44,282
Revenue ($ mil.)
0.0 2.0 .0
48,82 40,42 36,632
Gross Profit ($ mil.)
2.0 9.0 .0
Total Net Income 17,68 14,06 12,599
($ mil.) 1.0 5.0 .0

6. Tata Motors Company Description

Tata Motors is gearing up for the global market. Tata Motors, one of
India's largest automobile makers, has been manufacturing buses,
commercial trucks and tractor-trailers, passenger cars (Indica,
Indigo, Safari, Sumo, and the ultra-cheap Nano), light commercial
vehicles, and utility vehicles since 1945. The company sells its cars
primarily in India, but about 20% of sales come from other Asian
countries and Africa, Australia, Europe, the Middle East, and South
America. In a deal first announced in 2007, Tata finalized an
agreement to buy the troubled Jaguar and Land Rover brands from
Ford in mid-2008 for a reported $2.3 billion. Tata operates plants in
Africa, Asia, and Europe.

Tata Motors Income Statement

2008 2007 2006

33,093. 31,089. 23,490
Revenue (Rs. Cr.)
93 69 .5
3,764.6 3,700.8 2,998.
Gross Profit (Rs. Cr.)
9 9 7
Total Net Income 1,528.
2,028.9 1,913.4
(Rs. Cr.) 8

7. Nintendo Company Description

Nintendo -- one of the Big Three videogame console and handheld

devices makers -- knows it. Nintendo's Game Cube and Wii systems

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battle with Microsoft for second place in its industry while Sony
leads the trio. In the handheld console segment, however,
Nintendo's Game Boy system remains the leader. The firm debuted
its videogame player Nintendo DS (Nintendo Double Screen) in
2004, Game Boy Micro in late 2005, and DS Lite in 2006. Its Wii,
pronounced "we," videogame system arrived in time for 2006
holiday sales and continues to be preferred by customers.

Nintendo Income Statement

2007 2006
96,65 50,92
Revenue (Yen mn.)
34 49
Gross Profit (Yen 28,88 16,07
mn.) 39 59
Total Net Income 17,42 9,837
(Yen mn.) 90 8

8. Procter & Gamble Company Description

The Procter & Gamble Company (P&G) is a brand behemoth. The

world's No.1 maker of household products courts market share and
billion-dollar brands. Its business is divided into three global units:
health and well being, beauty, and household care. It also makes pet
food and water filters and produces soap operas. Some 25 of P&G's
brands are billion-dollar sellers, including Fusion, Always/Whisper,
Braun, Bounty, Charmin, Crest, Downy/Lenor, Folgers (which it's
planning to sell), Gillette, Iams, Olay, Pampers, Pantene, Pringles,
Tide, and Wella, among others. Acquisitive P&G bought Clairol in
2001 and Wella, which is now owns outright, in 2003. Its biggest buy
in company history was Gillette in late 2005.

Procter & Gamble Income Statement

2007 2006 2005

76,47 68,22 56,741
Revenue ($ mil.)
6.0 2.0 .0
39,79 35,09 28,937
Gross Profit ($ mil.)
0.0 7.0 .0
Total Net Income 10,34 8,684. 7,257.
($ mil.) 0.0 0 0

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9. Sony Company Description

All eyes and hands are on Sony -- or, more likely, on its high-profit
consumer electronics products and gaming systems. While
PlayStation ousted Nintendo from the top spot in the home game
system market in the mid-1990s, the disappointing debut of
PlayStation 3 in late 2006 has the two companies dueling. Sony also
makes a host of other products, including digital and video cameras,
Walkman stereos, and semiconductors. Sony's entertainment assets
include music (Sony BMG Music and Epic), motion pictures (Sony
Pictures Entertainment and Sony Pictures Digital), DVDs (Sony
Pictures Home Entertainment), and TV programming (Sony Pictures
Television).

Sony Income Statement

2008 2007 2006

89,60 70,51 63,541
Revenue ($ mil.)
1.3 3.4 .2
20,71 15,86 19,754
Gross Profit ($ mil.)
6.0 1.0 .3
Total Net Income 3,731. 1,073. 1,050.
($ mil.) 3 8 7

10. Nokia Company Description

Wireless wizard Nokia has cast a spell on the mobile phone market.
The company is the world's No.1 maker of cell phones (ahead of
such rivals as Motorola and Samsung, among others). Nokia is also
aiming for the top of the nascent mobile Internet market. The
company's products are divided primarily between three divisions:
devices (handheld device manufacturing); services and software
(consumer Internet services and products); and markets (supply
chains, sales channels, and marketing). Nokia's wireless network
products business is operated in partnership with Siemens as Nokia
Siemens Networks; the joint venture is the No.3 player in the
wireless networking equipment market behind Ericsson and Alcatel-
Lucent.

Nokia Income Statement

2007 2006 2005

75,20 54,29 40,495
Revenue ($ mil.)
3.3 2.1 .8
25,48 17,66 14,191
Gross Profit ($ mil.)
7.1 4.3 .5
Total Net Income 10,61 5,644. 4,242.
($ mil.) 2.2 3 5

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11. [Link] Company Description

What started as Earth's biggest bookstore has rapidly become

Earth's biggest anything store. Expansion has propelled
[Link] in innumerable directions. The firm's main Web site
offers millions of books, music, DVDs, and videos (which still account
for the majority, more than 60%, of the firm's sales), not to mention
auto parts, toys, tools, electronics, home furnishings, apparel, health
and beauty aids, prescription drugs, groceries, and services
including film processing. Long a model for Internet companies that
put market share ahead of profits, [Link] also made
acquisitions funded by meteoric market capitalization and is now
focused on profits. Founder Jeff Bezos owns about 24% of the firm.

[Link] Income Statement

2007 2006 2005

14,83 10,71 8,490
Revenue ($ mil.)
5.0 1.0 .0
3,353. 2,456. 2,039
Gross Profit ($ mil.)
0 0 .0
Total Net Income
476.0 190.0 359.0
($ mil.)

12. IBM Company Description

International Business Machines (IBM) is the world's top provider of

computer products and services. Among the leaders in almost every
market in which it competes, the company makes mainframes and
servers, storage systems, and peripherals. Though perhaps still best
known for its hardware, IBM's growing services business now
accounts for more than half of its sales. Its IT services arm is the
largest in the world and the company is also one of the largest
providers of both software (ranking No.2, behind Microsoft) and
semiconductors.

IBM Income Statement

2007 2006 2005

98,78 91,42 91,134
Revenue ($ mil.)
6.0 4.0 .0
41,72 38,29 36,532
Gross Profit ($ mil.)
9.0 5.0 .0
Total Net Income 10,41 9,492. 7,934.
($ mil.) 8.0 0 0

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13. RESEARCH IN MOTION (RIM) Company Description

Research in Motion (RIM) moves with its customers. The company

provides wireless hardware, software, and services to customers
worldwide. Its popular line of BlackBerry smart phones handle voice,
email, and text message communications, as well as Internet
access. RIM also provides software development tools and makes
radio-based modems that other manufacturers incorporate into
portable devices. The company sells to corporations, resellers, and
wireless carriers. BlackBerry devices are offered by service
providers including AT&T Mobility, T-Mobile, and Verizon Wireless.

RIM Income Statement

2008 2007 2006

6,009 3,037 2,065
Revenue ($ mil.)
.4 .1 .8
3,080 1,657 1,140
Gross Profit ($ mil.)
.6 .8 .6
Total Net Income 1,293
631.6 382.1
($ mil.) .9

14. BMW Company Description

Bayerische Motoren Werke (better known as BMW) is one of

Europe's top automakers. BMW's car offerings include sedans,
coupes, convertibles, and sport wagons in the 3 Series, 5 Series, 6
Series, and 7 Series model groups. Other models include the M3
coupe and convertible; the X5 sport utility; and the Z4 roadster. In
addition to its BMW automobiles, the company's operations include
motorcycles (K 1200 GT, R 1200 RT, and F 800 S models, among
others), the MINI automotive brand, Rolls-Royce Motor Cars, and
software (softlab GmbH). BMW's motorcycle division also offers a
line of motorcycling apparel such as leather suits, gloves, and boots.

BMW Income Statement

2007 2006 2005

82,45 64,64 55,254
Revenue ($ mil.)
2.9 4.4 .7
17,93 14,95 12,629
Gross Profit ($ mil.)
6.6 9.5 .4
Total Net Income 4,612. 3,791. 2,651.
($ mil.) 9 7 6

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15. Hewlett-Packard Company Description

While Hewlett-Packard may be known for product innovation, the

company's corporate development is a tale of reinvention. HP
provides enterprise and consumer customers a full range of high-
tech equipment, including personal computers, servers, storage
devices, printers, and networking equipment. Its software portfolio
includes operating systems, print management tools, and
OpenView, a suite that encompasses application, business, network
infrastructure, and product lifecycle management. HP, which already
boasts an IT service organization that is among the world's largest,
acquired Electronic Data Systems (EDS) for about $13.9 billion in
cash in 2008.

Hewlett-Packard Income Statement

2007 2006 2005

104,28 91,65 86,696
Revenue ($ mil.)
6.0 8.0 .0
25,688. 22,48 20,472
Gross Profit ($ mil.)
0 0.0 .0
Total Net Income 6,198. 2,398.
7,264.0
($ mil.) 0 0

16. Honda Company Description

Honda is Japan's No.3 automaker (after Toyota and Nissan) and the
world's largest motorcycle producer. The company's car models
include the Accord, CR-V, Civic, Element, and Ridgeline, as well as
gasoline-electric hybrid versions of the Civic and Accord. Honda's
line of motorcycles includes everything from scooters to superbikes.
The company also makes a line of ATVs and personal watercraft.
Honda's power products division makes commercial and residential-
use machinery (lawn mowers, snowblowers), portable generators,
and outboard motors.

Honda Income Statement

2008 2007 2006

121,22 94,24 84,218
Revenue ($ mil.)
8.6 0.7 .0
34,942. 27,38 24,629
Gross Profit ($ mil.)
6 7.0 .9
Total Net Income 5,034. 5,074.
6,060.4
($ mil.) 7 8

13
17. Disney Company Description

The Walt Disney Company is the world's No.2 media conglomerate

(behind Time Warner) with assets encompassing movies, music,
publishing, television, and theme parks. Its TV holdings include the
ABC television network and 10 broadcast stations, as well as a
portfolio of cable networks including ABC Family, A&E Television
Networks (37%-owned), and ESPN (80%). Walt Disney Studios
produces films through such imprints as Walt Disney Pictures,
Touchstone, Pixar, and Miramax. In addition, Walt Disney Parks and
Resorts is one of the top theme park operators in the world,
anchored by its popular Walt Disney World and Disneyland resorts

Disney Income Statement

2007 2006 2005

35,51 34,28 31,944
Revenue ($ mil.)
0.0 5.0 .0
6,781. 5,478. 4,107.
Gross Profit ($ mil.)
0 0 0
Total Net Income 4,687. 3,374. 2,533.
($ mil.) 0 0 0

18. General Motors Company Description

General Motors (GM) has steered around competitors to remain the

world's No.1 maker of cars and trucks, with brands such as Buick,
Cadillac, Chevrolet, GMC, Pontiac, Saab, and Saturn. GM also
produces cars through its Holden, Opel, and Vauxhall units.
Financing and insurance business is primarily conducted by one-
time wholly owned subsidiary GMAC (GM currently owns 49%). In
addition, GM owns slightly more than 50% of South Korea's GM
Daewoo Auto & Technology. Like its US counterparts Ford Motor and
Chrysler, GM is in the midst of restructuring its North American
operations.

General Motors Income Statement

2007 2006 2005

181,12 207,34 192,604
Revenue ($ mil.)
2.0 9.0 .0
Gross Profit ($ mil.) 12,121. 42,667. 21,571.

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 0 0 0
Total Net Income (38,732 (1,978. (10,567
($ mil.) .0) 0) .0)

19. Reliance Industries Company Description

India and Reliance Industries rely on each other. The company is

India's largest petrochemical firm and among the country's largest
companies (along with the likes of Indian Oil and the Tata Group).
Oil refining and the manufacture of polyolefins (polyethylene,
polypropylene, PVC, etc.) account for nearly all of Reliance's sales.
Additionally, the company makes textiles and explores for oil and
gas, though those businesses are comparatively small.

Reliance Industries Income Statement

2008 2007 2006

139,269 118,353 89,124.
Revenue (Rs. Cr.)
.46 .71 46
29,028. 20,642. 15,005.
Gross Profit (Rs. Cr.)
18 80 70
Total Net Income 19,458. 11,943. 9069.3
(Rs. Cr.) 29 40 4

20. Boeing Company Description

The world's largest aerospace company, Boeing is the No.2 maker of

large commercial jets (behind rival Airbus) and the No.2 defense
contractor behind Lockheed Martin. Boeing has two major segments:
Commercial Airplanes and Integrated Defense Systems. Boeing's
commercial aircraft include the 787 Dreamliner (due in late 2008),
767, 747, and the next-generation 737; military aircraft include the
F/A-18 Hornet, the F-15 Eagle, the C-17 Globemaster III transport,
and the AH-64D Apache helicopter. Boeing's space operations
include communications satellites, missiles, the International Space
Station, and the Space Shuttle (with Lockheed).

Boeing Income Statement

2007 2006 2005

66,38 61,53 54,845
Revenue ($ mil.)
7.0 0.0 .0
13,28 11,09 8,996.
Gross Profit ($ mil.)
0.0 3.0 0
Total Net Income 4,074. 2,215. 2,572.

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($ mil.) 0 0 0

21. Goldman Sachs Company Description

Goldman Sachs has traditionally possessed the Midas touch in the

investment banking world. A global leader in mergers and
acquisitions advice and securities underwriting, Goldman offers a
gamut of investment banking and asset management services to
corporate and government clients, as well as institutional and
individual investors. Goldman's business falls into three segments:
Investment Banking, Trading and Principal Investments, and Asset
Management and Securities Services. It owns Goldman Sachs
Execution & Clearing (formerly Spear, Leeds & Kellogg Specialists),
one of the largest market makers on the NYSE, and is also a leading
market maker for fixed income products, currencies, and
commodities.

Goldman Sachs Income Statement

2007 2006 2005

87,96 69,35 43,391
Revenue ($ mil.)
8.0 3.0 .0
50,36 29,663
Gross Profit ($ mil.) --
6.0 .0
Total Net Income 11,59 9,537. 5,626.
($ mil.) 9.0 0 0

22. 3M Company Description

3M makes everything from masking tape to asthma inhalers. The

company has six operating segments: display and graphics
(specialty film, traffic control materials); health care (dental and
medical supplies, and health IT); safety, security, and protection
(commercial care, occupational health and safety products); electro
and communications (connecting, splicing, and insulating products);
industrial and transportation (specialty materials, tapes, and
adhesives); and consumer and office. Well-known brands include
Scotchgard fabric protectors, Post-it Notes, Scotch-Brite scouring
products, and Scotch tapes. Sales outside the US account for about
two-thirds of 3M's sales.

3M Income Statement

2007 2006 2005

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 24,46 22,92 21,167
Revenue ($ mil.)
2.0 3.0 .0
11,72 11,21 10,786
Gross Profit ($ mil.)
7.0 0.0 .0
Total Net Income 4,096. 3,851. 3,199.
($ mil.) 0 0 0

23. Wal-Mart Company Description

Wal-Mart Stores is an irresistible (or at least unavoidable) retail force

that has yet to meet any immovable objects. Bigger than Europe's
Carrefour, Tesco, and Metro AG combined, it is the world's No.1
retailer, with more than 7,250 stores, including about 975 discount
stores, 2,800 combination discount and grocery stores (Wal-Mart
Supercenters in the US and ASDA in the UK), and 590 warehouse
stores (SAM'S CLUB). About 55% of its stores are in the US, but Wal-
Mart is expanding internationally; it is the No.1 retailer in Canada
and Mexico. It also owns a 95% stake in Japanese retailer SEIYU.
Wal-Mart also has operations in Asia, Europe, and South America.
Founder Sam Walton's heirs own about 40% of Wal-Mart.

Wal-Mart Income Statement

2008 2007 2006

378,79 348,65 315,65
Revenue ($ mil.)
9.0 0.0 4.0
92,284. 84,498. 75,263.
Gross Profit ($ mil.)
0 0 0
Total Net Income 12,731. 11,284. 11,231.
($ mil.) 0 0 0

24. Target Company Description

Target Corporation is US No.2 discount chain (behind Wal-Mart) now

operates about 1,600 Target and SuperTarget stores in 47 states, as
well as an online business called [Link]. Target and its larger
grocery-carrying incarnation, SuperTarget, have carved out a niche
by offering more upscale, fashion-forward merchandise than rivals
Wal-Mart and Kmart. After years of struggling to turn around its
Marshall Field's and Mervyns department stores divisions, the
discounter sold them both in 2004. Target also owns apparel
supplier The Associated Merchandising Corp. and issues Target Visa
and its proprietary Target Card.

Target Income Statement

2008 2007 2006

Revenue ($ mil.) 63,36 59,49 52,620

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 7.0 0.0 .0
21,47 20,09 17,693
Gross Profit ($ mil.)
2.0 1.0 .0
Total Net Income 2,849. 2,787. 2,408.
($ mil.) 0 0 0

25. Samsung Electronics Company Description

Samsung Electronics is an electronics Samson. One of the world's

largest semiconductor manufacturers, Samsung Electronics is also
South Korea's top electronics company. It makes many kinds of
consumer devices, including DVD players, big-screen TV sets, and
digital still cameras; computers, color monitors, LCD panels, and
printers; semiconductors such as DRAMs, static RAMs, and flash
memory; and communications devices ranging from wireless phones
to networking switches. The company, which is the flagship member
of Samsung Group, also makes microwave ovens, refrigerators, air
conditioners, and washing machines.

Samsung Electronics Income Statement

200 200
7 6
Revenue (KRW mil.) 7.43 7.92
Gross Profit (KRW 63.1 58.9
mil.) 8 7
Total Net Income 16.3 16.3
(KRW mil.) 3 1

26. Facebook Company Description

When it comes to social networking, it's wise to put your best face
forward. Online directory Facebook began by connecting students
through social networks at schools, but has since opened its service
to the general public. Users post photos and information about
themselves through online profiles published on [Link]. The
site was launched in 2004 by undergraduates at Harvard, led by
Mark Zuckerberg, as an online version of the Harvard Facebook.
(The name comes from books of freshmen's faces, majors, and
hometowns that are distributed to incoming students.) Microsoft has
a deal to be the exclusive provider of advertising to Facebook.
Investors include Paypal co-founder Peter Thiel and Accel Partners.
(No Financials available)

18
27. Virgin Group Company Description

Led by adventurous founder, chairman, and owner Sir Richard

Branson, holding company Virgin Group gets around. The group's
travel-related operations, paced by 51%-owned Virgin Atlantic
Airways, are among its biggest breadwinners. Virgin Atlantic is
complemented by its Australian low-fare cousin, Virgin Blue. Virgin
Group also operates rail franchises in the UK and sells tour
packages. Besides travel and leisure, the group's major operating
areas include beverages, financial services, retail sales of books and
music (Virgin Entertainment), and telecommunications (Virgin
Media). Virgin was established in 1970. (No Financials available)

28. AT&T Company Description

AT&T is the industry-leading provider of voice, IP-voice, video, and

data communications services. Its network spans the globe reaching
every major country and metropolitan area through its subsidiaries
and affliates. In the US AT&T provides telephone service to 22 US
states; key markets include California, Illinois, and Texas. In addition
to serving millions of consumers with phone and Internet service,
the company's client list includes all of the FORTUNE 1000. AT&T is
also the nation's leading wireless carrier. AT&T Mobility (formerly
Cingular Wireless) provides cell phone and mobile data services to
about 70 million subscribers in the US.

AT&T Income Statement

2007 2006 2005

118,92 63,05 43,862
Revenue ($ mil.)
8.0 5.0 .0
72,873. 35,70 24,672
Gross Profit ($ mil.)
0 6.0 .0
Total Net Income 11,951. 7,356. 4,786.
($ mil.) 0 0 0

29. Volkswagen Company Description

Volkswagen (VW) leads the Continent as Europe's No.1 carmaker.

Along with Golf and the New Beetle, VW's annual production of 5
million cars, trucks, and vans includes such models as Passat (trade
wind), Jetta (jet stream), Rabbit, and Fox. VW also owns a garage full
of luxury carmakers -- AUDI, Lamborghini, Bentley, and Bugatti.

19
Other makes include SEAT (family cars, Spain) and SKODA (family
cars, the Czech Republic). VW operates plants in Africa, the
Americas, Asia/Pacific, and Europe. It also holds 68% of the voting
rights in Swedish truck maker Scania and about 30% of MAN AG. VW
also offers consumer financing.

Volkswagen Income Statement

2006 2005 2004

138,36 112,82 121,34
Revenue ($ mil.)
1.6 5.9 5.5
15,250. 14,353.
Gross Profit ($ mil.) --
2 4
Total Net Income
3,628.1 1,326.4 923.4
($ mil.)

30. McDonald's Company Description

McDonald's is the world's No.1 fast-food company by sales, with

more than 31,000 restaurants serving burgers and fries in almost
120 countries. (Nearly 14,000 Golden Arches locations are in the
US.) The popular chain is well-known for its Big Macs, Quarter
Pounders, and Chicken McNuggets. Most of its outlets are free-
standing units, but McDonald's also has many quick-service kiosk
units located in airports and retail areas. Each unit gets its food and
packaging from approved suppliers and uses standardized
procedures to ensure that a Big Mac purchased in Pittsburgh tastes
the same as one bought in Beijing. More than 75% of its restaurants
are run by franchisees or affiliates.

McDonald's Income Statement

2007 2006 2005

22,78 21,58 20,460
Revenue ($ mil.)
6.6 6.4 .2
12,96 6,984. 6,324.
Gross Profit ($ mil.)
7.6 3 2
Total Net Income 2,395. 3,544. 2,602.
($ mil.) 1 2 2

31. Daimler Company Description

After nearly 10 years of irreconcilable differences, Daimler and

Chrysler have called it quits. The two joined forces in 1998 in a $37
billion deal, but the marriage never worked. In 2007 Daimler sold
80% of Chrysler to Cerberus Capital Management for about $7.4

20
billion. Daimler's passenger car business, Mercedes-Benz Cars,
includes the Mercedes, Maybach (ultra-luxury cars), and smart (mini
cars) brands. The company's Daimler Trucks North America
(formerly Freightliner) unit is the US's No.1 heavy-truck maker, and
with its Fuso, Mercedes-Benz, and Sprinter brands, Daimler is the
world's leading maker of commercial vehicles. The company has
about a 15% stake in EADS, the European aerospace and defense
consortium.

Daimler Income Statement

2007 2006 2005

146,40 200,14 177,39
Revenue ($ mil.)
4.8 3.0 4.7
35,342. 34,216. 31,839.
Gross Profit ($ mil.)
3 9 0
Total Net Income
5,869.5 4,260.6 3,370.8
($ mil.)

32. Starbucks Company Description

Wake up and smell the coffee -- Starbucks is everywhere. The

world's No.1 specialty coffee retailer, Starbucks has more than
16,000 coffee shops in more than 35 countries. The outlets offer
coffee drinks and food items, as well as roasted beans, coffee
accessories, and teas. Starbucks owns more than 8,500 of its shops,
which are located in about 10 countries (mostly in the US), while
licensees and franchisees operate more than 6,500 units worldwide
(primarily in shopping centers and airports). The company also owns
the Seattle's Best Coffee and Torrefazione Italia coffee brands. In
addition, Starbucks markets its coffee through grocery stores and
licenses its brand for other food and beverage products.

Starbucks Income Statement

2007 2006 2005

9,411 7,786 6,369
Revenue ($ mil.)
.5 .9 .3
5,412 4,608 3,764
Gross Profit ($ mil.)
.4 .1 .1
Total Net Income
672.6 564.3 494.5
($ mil.)

33. eBay Company Description

"I got it on eBay" is barreling its way into the lexicon of the new
millennium and placing a cyber-grin on the corporate face of online
auctioneer extraordinaire eBay. The company is a cyber-forum for

21
selling more than 50,000 categories of merchandise -- from Beanie
Babies to fine antiques -- hosting about 500,000 online stores
worldwide. eBay, which generates revenue through listing and
selling fees and through advertising, boasts more than 275 million
registered users. In 2007, eBay acquired one of the fastest growing
online ticket sellers, StubHub, for $307 million.

eBay Income Statement

2007 2006 2005

7,672 5,969 4,552
Revenue ($ mil.)
.3 .7 .4
5,909 4,713 3,734
Gross Profit ($ mil.)
.4 .0 .3
Total Net Income 1,125 1,082
348.3
($ mil.) .6 .0

[Link] Company Description

Verizon is the second largest US telecommunications services

provider (after AT&T). The company's wireline business provides
local telephone, long-distance, and Internet access services to
residential and small to midsized businesses in 28 states and
Washington, DC. It has about 40 million voice access lines in
operation and it serves about 8 million broadband Internet
customers. Verizon Wireless, the company's joint venture with
Vodafone Group which is known legally as Cellco Partnership, is the
#2 US wireless provider (after AT&T Mobility), with around 68 million
customers. Verizon Business provides communications and
information technology (IT) services to global business and
government clients.

Verizon Income Statement

2007 2006 2005

93,46 88,14 75,112
Revenue ($ mil.)
9.0 4.0 .0
55,92 53,15 49,643
Gross Profit ($ mil.)
2.0 0.0 .0
Total Net Income 5,521. 6,197. 7,397.
($ mil.) 0 0 0

35. Cisco Systems Company Description

Cisco Systems routes packets and routs competitors with equal

efficiency. Dominating the market for IP-based networking
equipment, the company provides routers and switches used to
direct data, voice, and video traffic. Other products include remote

22
access servers, IP telephony equipment, optical networking
components, Internet conferencing systems, set-top boxes, and
network service and security systems. It sells its products primarily
to large enterprises and telecommunications service providers, but
it also markets products designed for small businesses and
consumers through its Linksys division.

Cisco Systems Income Statement

2007 2006 2005

34,92 28,48 24,801
Revenue ($ mil.)
2.0 4.0 .0
22,33 18,74 16,671
Gross Profit ($ mil.)
6.0 7.0 .0
Total Net Income 7,333. 5,580. 5,741.
($ mil.) 0 0 0

36. ING Company Description

ING Groep is a Dutch hybrid of banking, insuring, and asset-

managing services. One of the world's largest insurance and
financial services companies, its operations are focused on its home
market of Benelux, as well as Asia/Pacific, Europe, and North
America. Key products include life and non-life insurance, pensions,
and retirement services. Its banking operations include wholesale
and retail banking and mortgage lending. The company's ING Direct
business offers online retail banking for individuals in nine countries
in North America, Europe, and the Pacific. ING provides asset
management for individuals and institutional investors through both
its insurance and banking businesses.

ING Income Statement

2007 2006 2005

211,99 163,18 130,58
Revenue ($ mil.)
3.0 7.8 0.1
Gross Profit ($ mil.) -- -- --
Total Net Income 14,004.
9,013.7 8,262.4
($ mil.) 3

37. Singapore Airlines Company Description

For people in Singapore, traveling very far means traveling by air,

and that means Singapore Airlines (SIA). The carrier flies to about 65

23
cities in about 35 countries, primarily in the Asia/Pacific region but
also in Europe and North America. It boasts a fleet of about 95
aircraft. SIA extends its network via code-sharing with fellow
members of the Star Alliance marketing partnership, such as
Lufthansa. (Code-sharing allows airlines to sell tickets on one
another's flights and thus offer service to additional destinations.)
The government of Singapore, through Temasek Holdings, owns
55% of SIA.

Singapore Airlines Income Statement

2007 2006 2005

9,551 8,234 7,271
Revenue ($ mil.)
.8 .1 .4
2,971
Gross Profit ($ mil.) -- --
.7
Total Net Income 1,451
808.2 840.9
($ mil.) .4

38. Siemens AG Company Description

Siemens proves that "lean" is a relative term. The company has

streamlined its business considerably in recent years, but it remains
one of the largest electronics and industrial engineering firms in the
world. Its operations encompass industrial automation and control
systems, lighting products, heating and ventilation systems, power
distribution and transmission equipment, and transportation
systems. It also provides energy-related products for applications
ranging from oil and gas conversion to wind farms. The company's
health care unit provides diagnostic and imaging systems.

Siemens AG Income Statement

2007 2006 2005

112,59 110,79 90,896
Revenue ($ mil.)
1.8 8.0 .1
29,833. 26,436
Gross Profit ($ mil.) 5,758.8
3 .9
Total Net Income 2,708.
3,449.5 3,848.3
($ mil.) 4

39. Costco Wholesale Company Description

Wal-Mart isn't the biggest in every business. Costco Wholesale is the

largest wholesale club operator in the US (ahead of Wal-Mart's
SAM'S CLUB). The company operates about 535 membership
warehouse stores serving more than 50 million cardholders in 40 US

24
states and Puerto Rico, Canada, Japan, Mexico, South Korea, Taiwan,
and the UK, primarily under the Costco Wholesale name. Stores offer
discount prices on an average of about 4,000 products (many in bulk
packaging), ranging from alcoholic beverages and appliances to
fresh food, pharmaceuticals, and tires. Certain club memberships
also offer products and services such as car and home insurance,
mortgage and real estate services, and travel packages.

Costco Wholesale Income Statement

2007 2006 2005

64,40 60,15 52,935
Revenue ($ mil.)
0.2 1.2 .2
7,950. 7,405. 6,588.
Gross Profit ($ mil.)
5 7 3
Total Net Income 1,082. 1,103. 1,063.
($ mil.) 8 2 1

40. HSBC Holdings Company Description

HSBC would be a real alphabet soup if the company's name

reflected its geographic diversity. One of the world's top banks by
assets, HSBC Holdings is active throughout the UK and Europe,
North and South America, Asia/Pacific, Australia, the Middle East,
and Africa. All told, HSBC has some 10,000 offices in more than 80
countries, providing consumer and commercial banking services,
credit cards, asset management, private banking, securities
underwriting and trading, insurance, and leasing. Its North American
operations include HSBC USA, consumer lender HSBC Finance, and
HSBC Bank Canada.

HSBC Holdings Income Statement

20 20
2005
07 06
93,494
Revenue ($ mil.) -- --
.0
Gross Profit ($ mil.) -- -- --
Total Net Income 15,495
-- --
($ mil.) .0

41. Bank of America Company Description

25
Welcome to the machine. The second-largest bank in the US by
assets (behind Citigroup), Bank of America boasts the country's
most extensive branch network, with more than 6,100 locations
covering some 30 states from coast to coast. Its core services
include consumer and small business banking, credit cards,
investment banking and brokerage, and asset management. In 2007
Bank of America bought U.S. Trust from Charles Schwab for more
than $3 billion and acquired Chicago-based LaSalle Bank from
Netherlands-based ABN AMRO for some $21 billion. Also that year
the company made a $2 billion investment in Countrywide Financial,
and in early 2008 bought the troubled company outright.

Bank of America Income Statement

2007 2006 2005

124,32 117,01 83,980
Revenue ($ mil.)
1.0 7.0 .0
106,22 102,53 74,488
Gross Profit ($ mil.)
8.0 7.0 .0
Total Net Income 14,982. 21,133. 16,465
($ mil.) 0 0 .0

42. Exxon Company Description

It's not necessarily the oil standard, but Exxon Mobil is the world's
largest integrated oil company (ahead of BP and Royal Dutch Shell).
Exxon Mobil engages in oil and gas exploration, production, supply,
transportation, and marketing worldwide. It has proved reserves of
13.2 billion barrels of oil equivalent. Exxon Mobil's 38 refineries in 21
countries have a throughput capacity of 6.3 million barrels per day.
The company supplies refined products to nearly 34,000 service
stations in 100 countries. It provides fuel to more than 600 airports
and 200 seaports. Exxon Mobil is also a major petrochemical
producer. The company posted consecutive US records for annual
corporate earnings for 2005, 2006, and 2007.

Exxon Income Statement

2007 2006 2005

404,55 377,63 370,68
Revenue ($ mil.)
2.0 5.0 0.0
171,70 164,38 157,67
Gross Profit ($ mil.)
0.0 0.0 8.0
Total Net Income 40,610. 39,500. 36,130.
($ mil.) 0 0 0

43. News Corp. Company Description

26
The world's No.3 media conglomerate (behind Time Warner and
Walt Disney), News Corporation has operations spanning film,
television, and publishing. It produces and distributes movies
through Fox Filmed Entertainment, while its FOX Broadcasting
network boasts more than 200 affiliate stations in the US. The
company also owns and operates more than 30 TV stations, as well
as a portfolio of cable networks. Its publishing businesses include
HarperCollins and Dow Jones. In addition, News Corp. owns almost
40% of satellite broadcaster British Sky Broadcasting. Rupert
Murdoch and his family control nearly 40% of News Corp.

News Corp. Income Statement

2007 2006 2005*

28,65 25,32 23,859
Revenue ($ mil.)
5.0 7.0 .0
10,01 8,734. 7,958.
Gross Profit ($ mil.)
0.0 0 0
Total Net Income 3,426. 2,314. 2,128.
($ mil.) 0 0 0

44. BP Company Description

BP is also BO (Big Oil). It is the world's third largest integrated oil

concern, behind Exxon Mobil and Royal Dutch Shell. The company,
which was formed in 1998 from the merger of British Petroleum and
Amoco, grew by buying Atlantic Richfield Company. BP has proved
reserves of 17.8 billion barrels of oil equivalent, including large
holdings in Alaska. BP is the largest oil and gas producer in the US
and also a top refiner, processing about 3.8 million barrels of crude
oil per day. BP operates more than 25,000 gas stations worldwide.
With the success of its BP Solar International subsidiary, BP has
created an Alternative Energy unit with an initial investment of $1.8
billion to develop green energy sources.

BP Income Statement

2007 2006 2005

291,29 265,76 245,48
Revenue ($ mil.)
1.5 3.8 6.0
57,174.
Gross Profit ($ mil.) -- --
0
Total Net Income 19,642.
-- --
($ mil.) 0

45. NIKE Company Description

27
Nike, the Greek goddess of victory, helped others succeed in times
of war. NIKE, the world's No.1 shoemaker, does more dominating
than assisting, to capture a hefty share of the US athletic shoe
market. It designs and sells shoes for a variety of sports, including
baseball, cheerleading, golf, volleyball, hiking, tennis, and football.
NIKE also sells Cole Haan dress and casual shoes, as well as athletic
apparel and equipment. In addition, NIKE operates NIKETOWN shoe
and sportswear stores, NIKE factory outlets, and NIKE Women shops.
NIKE sells its products throughout the US and in more than 180
other countries. In 2006 NIKE veteran Mark Parker succeeded Bill
Perez as president and CEO. It bought Umbro in 2008.

NIKE Income Statement

2008 2007 2006

18,62 16,32 14,954
Revenue ($ mil.)
7.0 5.9 .9
8,387. 7,160. 6,587.
Gross Profit ($ mil.)
4 5 0
Total Net Income 1,883. 1,491. 1,392.
($ mil.) 4 5 0

46. Dell Company Description

The name Dell may be synonymous with "direct," but the computer
giant has a more diverse approach to the market these days. The
world's No.1 direct-sales computer vendor provides a broad range of
computer products for the consumer and enterprise markets. In
addition to a full line of desktop and notebook PCs, Dell offers
network servers, workstations, storage systems, printers, projectors,
and Ethernet switches. It also markets third-party software and
peripherals. Dell's growing services unit provides systems
integration, support, and training. The company began selling
through retail stores in 2007.

Dell Income Statement

2008 2007 2006

61,13 57,42 55,908
Revenue ($ mil.)
3.0 0.0 .0
11,67 9,516. 9,950.
Gross Profit ($ mil.)
1.0 0 0
Total Net Income 2,947. 2,583. 3,572.
($ mil.) 0 0 0

47. Vodafone Company Description

28
Customers have voted with their phones to make Vodafone Group
the world's top wireless phone services carrier by sales with more
than 200 million customers; in terms of subscribers, Vodafone trails
only China Mobile. The company does most of its business in Europe
where it is a leader in wireless markets of the UK and Germany. In
the US, the group holds a 45% stake in the No.2 US wireless
provider Verizon Wireless. Vodafone also serves callers in Asia,
Africa, the Middle East, and the Pacific region through subsidiaries
and joint ventures. The group also provides wireless data,
broadband Internet, as well as fixed-line phone services through
German subsidiary Arcor.

Vodafone Income Statement

2008 2007
2007+
+ +
70,78 31,10 49,919
Revenue ($ mil.)
2.2 4.0 .0
27,10 (8,327.
Gross Profit ($ mil.) --
9.4 0)
Total Net Income 13,47 (8,514.
--
($ mil.) 8.9 0)

48. Intel Corp. Company Description

Intel -- still No.1 in semiconductors, and no longer complacent about

holding the top spot. The company holds the lion's share in the
market for microprocessors that go into desktop and notebook
computers, and also into computer servers. Archrival AMD has eaten
into Intel's market share in recent years, but the big guy has fought
back with faster processors and advanced manufacturing
technology. Intel also makes embedded semiconductors for the
industrial equipment and networking gear markets. Most computer
makers use Intel processors; PC giants Dell (18% of sales) and
Hewlett-Packard (17%) are the company's largest customers. The
Asia/Pacific region generates more than half of Intel's revenues.

Intel Corp. Income Statement

2007 2006 2005

38,33 35,38 38,826
Revenue ($ mil.)
4.0 2.0 .0
19,90 18,21 23,049
Gross Profit ($ mil.)
4.0 8.0 .0
Total Net Income 6,976. 5,044. 8,664.
($ mil.) 0 0 0

49. Southwest Airlines Company Description

29
Southwest Airlines will fly any plane, as long as it's a Boeing 737,
and let passengers sit anywhere they like, as long as they get there
first. Sticking with what has worked, Southwest has expanded its
low-cost, no-frills, no-reserved-seats approach to air travel
throughout the US to serve about 65 cities in more than 30 states.
Now among the leading US airlines, Southwest nevertheless stands
as an inspiration for scrappy low-fare upstarts the world over. The
carrier has enjoyed 35 straight profitable years amid the airline
industry's ups and downs.

Southwest Airlines Income Statement

2007 2006 2005

9,861 9,086 7,584
Revenue ($ mil.)
.0 .0 .0
2,780 2,775 2,493
Gross Profit ($ mil.)
.0 .0 .0
Total Net Income
645.0 499.0 548.0
($ mil.)

50. American Express Company Description

American Express makes money even if you do leave home without

it. The company is one of the world's largest travel agencies, but it is
equally as well known for its charge cards and revolving credit
cards. And yes, the company still issues traveler's checks and
publishes such magazines as Food & Wine and Travel & Leisure
through its American Express Publishing unit. Its travel agency
operations have more than 2,200 locations worldwide and its
Travelers Cheque Group is the world's largest issuer of traveler's
checks (it also issues gift cards). But the company's charge and
credit cards are its bread and butter; American Express has issued
more than 86 million cards worldwide.

American Express Income Statement

2007 2006 2005

31,55 27,13 24,267
Revenue ($ mil.)
7.0 6.0 .0
19,36 15,667
Gross Profit ($ mil.) --
1.0 .0
Total Net Income 4,012. 3,707. 3,734.
($ mil.) 0 0 0

30
CONCLUSION:
From above data we can conclude that innovation is the integral
part of a successful organization. As most of the above organizations
are among the Fortune 500 (except a few) and they are successful
and largest wealth creator of the world, through innovation in either
products or services offered and also generating huge revenues and
profitably growing year on year. Below are the some of examples of
innovative products offered by these companies.

Apple is No.1 for the fourth time in a row owing to another

innovation milestone: Apple iPhone , earlier it was ipod and itunes.

Google is No. 2 again owing to the growth of the AdWords and

AdSense businesses, and the phenomenal growth of YouTube videos
post acquisition .

Toyota Motor remains at No.3 in large part due to the dominance of

hybrid cars.

General Electric remains at No.4 due to the emerging alternative

energy innovations,

Microsoft rounds at No.5, due to the growth of the XBox and new
innovations
Tata Motors at No.6. Owing to the introduction of Tata Nano, car
with a price tag of just Rs 1 lakh that will revolutionize the car
industry.

Nintendo, at No.7, is the top innovator of Japan, thanks to the

runaway success of Wii.

Proctor & Gamble at No.8, P&G is a perennial innovator, and figures

to be in Top Ten for the foreseeable future owing to hits such as
Febreze and Mr. Clean.

Sony at No.9, Sony's Blu-Ray and new product mix is causing a

turnaround.

At No.10 Nokia is the heavyweight in wireless technologies and in

mobile handsets.

General Motors is on a comeback with exciting new electric concept

cars, and remarkable new vehicles in the Buick, Hummer, Cadillac
and Saturn lines with the alternative energy engine technologies for
the new cars.

31
BMW, Honda Motor, Audi and Daimler are also in the top 50
innovator list on the strengths of new innovative cars that are
customer friendly and in tune with the present environment.

Reliance Industries, another Indian innovator, vaults into the Top

Twenty list of innovators. Reliance is a household name in India -
from wireless to telecommunications, technology to infrastructure -
Reliance can be found in virtually every industry in India.

LEARNING:

Innovation creates success and being innovative in your business is

one of the keys to being successful. Innovation is the introduction of
new processes, new ways of doing things and revolutionising how
things have been accomplished previously.

Innovation isn't just about improvement; it's much more than that.
Improvement is taking what you have and making it better - doing
more of the same but better, whereas innovation is about
discovering new methods and making changes.

Innovation for improving the quality of the product is necessary, as

consumers would reject an inferior product. An innovation helps in
making a difference from the competitors and attracts a consumer
to a particular brand. Advertisements are an effort towards reaching
the consumer and the television has proved to be a powerful
medium. Impressed by an advertisement a consumer might chose to
buy a product initially but would continue to do so if it is of good
quality innovative product.

Innovation requires you to think and come out of your self-perceived

box. A constant attempt at innovation, both in terms of product and
service, holds the key for success of business in a competitive world,
where consumer satisfaction is the main mantra.

32
REFERENCES:
1. [Link]

2. [Link]

3. [Link]

4. [Link]

5. [Link]

6. [Link]

7. Kotler, Philip; Keller, Kevin Lane; Koshy Abraham ; Jha,

Mithileshwar; Marketing Management, A South Asian
Perspective,13th Edition; Pearsons Publications; pp. 47-49

33