Atlas Copco has been named among the Top 100 most innovative companies in the world by Forbes magazine. Researchers at Forbes considered a number of factors when compiling the list, including a company’s Innovation Premium, which projects company income from existing businesses in addition to anticipated growth, as well as the net present value of cash flows. The research team at Forbes also identified five critical skill sets that company leaders should possess to help lead creative work and drive innovation within a company. These include:
- Questioning allows innovators to challenge the status quo and consider new possibilities;
- Observing helps innovators detect small details — in the activities of customers, suppliers and other companies — that suggest new ways of doing things
- Networking permits innovators to gain radically different perspectives from individuals with diverse backgrounds;
- Experimenting prompts innovators to relentlessly try out new experiences, take things apart and test new ideas;
- Associational thinking — drawing connections among questions, problems or ideas from unrelated fields — is triggered by questioning, observing, networking and experimenting and is the catalyst for creative ideas.
- The magazine also looked at what it referred to as the “3P” framework as a code for innovation within an organization: people, processes and philosophies.