Innovations at Apple, GE and Visa

Innovations are very important things to modern companies because they not only make them competitive in the world market but also ensure that they remain relevant to their customers. It is central to any company’s strategy and for many companies it is one of their top priorities in driving growth. The most significant drivers of innovation are culture and people and companies face various challenges when tackling both of these. Furthermore, different companies take different approaches when dealing with their new innovations. In this paper, we shall look at how the innovations at Apple, GE, and Visa have had an impact on them.

Apple is one of the most innovative companies in the world whose influence can be felt by almost everybody on the globe. This company was founded in a spirit of innovation and it is this that has made it one of the leaders in the world market. The Economist (2007) declares that Apple is well known for its ability to create technology that can be adapted for a wide range of purposes such as using an iPad to help in the arrangement of data as well as using it to read eBooks. Furthermore, Apple products tend to be environmentally friendly and this has made many people in the world to adopt them for their day to day use. This has made Apple one of the most successful companies in America and it has made it a world leader in almost all the products it produces with very little sign of it being overtaken any time soon.

GE has also invested in innovations such as the creation of electric powered cars and jet engines among others. It is one of those companies which invest heavily in technological innovations in almost all sectors including health. The MENA Report (2012) states that the new technologies developed are adapted to other products that GE produces and this enables it to remain competitive in the market even after more than a hundred and thirty years of existence. Its main aim is to bring affordable and advanced technologies that will ultimately bring a lot of benefit to many people around the world and this will undoubtedly keep this company among the top technological companies in the world.

Visa is also one of those companies whose innovations have revolutionized the financial system of the world. According to Soukar, M (2000) the introduction of the Visa Card has made payments easier for those who use them because not only can they be used domestically, but they can also be used all over the world. Furthermore these cards also enable payments to be made safely online instead of one having to go to a bank to wire the money. The relative safety of using visa cards to make payments has enabled people not to go around carrying paper money because this innovation allows the electronic transfer of money. Due to this technological innovation among others, visa has ensured that it remains one of the best financial companies in the world.

In conclusion, we have briefly looked at some technological innovations of the three companies above and how these innovations have kept them at the top of their fields of specialization. These companies are the leaders in technological advances that have changed the lives of many and it is these which also keep them competitive. The relevance of these three companies relies heavily on their innovative strategies because if they do not produce products that are relevant to the ever evolving tastes of their customers, then they would be overtaken by their competitors.