The Best of CEO TV on Creating and Maintaining Innovation
In this latest episode of our Best of the CEO Show Series, we bring together the leaders of AT&T Mobility, Vistage International and Panasonic North America to talk about how they nurture and foster innovation.
CEO of AT&T Mobility, Ralph de la Vega, touches on his experience when the one of the greatest innovations in technology was introduced into the market for the first time, the iPhone. De la Vega recalls the moment when Steve Jobs presented one of the first touch screen phones to him, and comments on how certain Jobs was, that this product was to change the mobility market as we knew it at that time. Since the monumental success of the iPhone’s launch, de la Vega has committed to developing new innovations, such as his “Emerging Devices” division, that brings to market technologies in the form of other than phones.
Chairman and CEO of Vistage International Rafael Pastor defines innovation as a game changer for businesses, often coming from new or smaller companies who are not restricted by the many roadblocks and red tape large corporations are faced with. Pastor explains these large businesses often face greater challenges to innovate, often taking longer to instill changes into their product and service offerings. Pastor explains how essential it is for large corporations to focus not on buying up small companies to learn from, but make the commitment to cross-over into new markets and bringing in experts who will help the company embrace innovation.
Joe Taylor, CEO of Panasonic North America, views innovation as how quickly companies can adapt to changing customer wants. Since the early Industrial Revolution, technology was created to solve a specific problem, yet has evolved into companies creating products and services that exceed our ability to think of all the ways we can use them. Furthermore, Taylor comments on how 3 year design cycles have transformed into 3 month design cycles. This fast-paced environment has also allowed engineering and creativity to merge into one entity, in order to create remarkable change and bring new innovations to the market.