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What Companies Mean By Innovation

We analyzed official "Our Values"-type documents from 521 companies who were recently in the S&P 500. Here is what some of them had to say about Innovation.

“Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by ‘not invented here’. As we do new things, we accept that we may be misunderstood for long periods of time.”

Amgen, from "Values" 

“Our success depends on superior scientific innovation, integrity and continuous improvement in all aspects of our business through the application of the scientific method. We see the scientific method as a multi-step process that includes designing the right experiment, collecting and analyzing data and rational decision making. It is not subjective or emotional, but rather a logical, open and rational process. Applying the scientific method in all parts of the organization is expected and highly valued.” 

Integrity Staffing Solutions, from "Our Core Values" 

“It’s not a big idea if it doesn’t MAKE THINGS EASIER.”

“We encourage innovation in all aspects of our work. Research, innovation and invention are the essence of our company. Our success results from exploring new methods and ideas beyond conventional boundaries. Innovation must be driven across the company into every aspect of our work. We must foster an environment that encourages individuals to stretch their imaginations and abilities and gives them the freedom to pursue their ideas.”

John Deere, from "Core Values" 

“Innovation means inventing, designing, and developing breakthrough products and services that have high appeal in the marketplace and strengthen customer preference for the John Deere brand. Innovation extends to using the latest technology to establish world—class manufacturing processes and applying the most advanced information technology tools and practices throughout the company.”

Netflix, from "Real Values"

“You create new ideas that prove useful. You re-conceptualize issues to discover solutions to hard problems. You challenge prevailing assumptions, and suggest better approaches. You keep us nimble by minimizing complexity and finding time to simplify. You thrive on change.”

FedEx, from "Shared Values" 

“We invent and inspire the services and technologies that improve the way the world works and lives.”

Levi Strauss, from "Culture" 

“Innovation is at the core of what we do. From inventing the world’s first pair of blue jeans, to implementing cutting-edge design techniques, to developing new ways of working, we encourage our talented employees — and anyone who slips on a pair of our jeans — to dream big, do more and grow.”

L'Oréal, from "Shared Values" 

“Innovation is also one of our founding values. We always have in mind the fact that our company was founded by a scientist. Innovation is essential because beauty is an endless quest that constantly requires a higher level of performance. At L’Oréal, it is vital. Always wanting to push back the limits of knowledge means discovering new ways to create products that are truly different and surprising. To always stay one step ahead.”

Estée Lauder Companies, from "Our Values" 

“Infusing creativity and innovation throughout all aspects of the business, from product development to packaging, sampling to selling, marketing to merchandising.”

The Hershey Company, from "Our Values" 

“I am open to possibilities and seize opportunities. I consistently suggest new, original, or unconventional ideas and approaches. I am discontent with the status quo, and activity seek fresh angles to look at existing challenges. I pull in diverse perspectives that push the boundaries of what we think we know. I ask, ‘How can we…’ believing that ingenuity and insights can overcome many obstacles and open the door to new possibilities.”

Innovation on the Blog