Google has been ranked the most innovative company in 2014 by Fast Company, climbing up an impressive 10 spots from 11th place last year.
The last time Google took the top spot was in 2008, and in the past six years, it has proven to be one of this generation’s most disruptive organisations. Valued at an estimated US$350 billion, the company earned top honours this year thanks to both its pioneering inventions, including Google Glass and driver-free autonomous vehicles, and its everyday products such as Gmail, Google Now and of course, its search engine.
Coming in second place this year is Bloomberg Philanthropies, which distributed US$452 million in 2013. The foundation has also helped address pressing health concerns in the US, and supported other organisations around the world to tackle health care, weather, and traffic emergencies.
In third place is Chinese company Xiaomi, which didn’t make the global top 50 list last year – only coming in at sixth place on the 2013’s China list.
However, the consumer electronics company has grown by leaps and bounds, releasing four new smartphones and selling nearly 19 million devices last year alone. The company also saw high revenue come in through paid apps, games and fee-based services, and is planning on a global expansion this year.
But all three companies, and the 47 others which made the list this year, have proven it takes more than just numbers to dominate the industries they operate in.
Citing these companies’ “belief that a product or service can radically remake an industry, change consumer habits, challenge economic assumptions”, Fast Company also identified the top 12 innovation lessons companies should keep in mind this year, including constantly working at high levels of efficiency and exceptional productivity, focusing on making customers happy and remembering that “software beats hardware”.
Fast Company’s World’s Most Innovative Companies 2014
For the full list, click here.