Economic Prosperity Driven By Innovation

The verdict is out for the most innovative companies of 2007. Apple tops the BusinessWeek-Boston Consulting Group’s list of the World’s Most Innovative Companies for the third year in a row. Google is on second place like the previous year.While Toyota (from 4th last year) has gone up to 3rd position.
Apple’ results for second quarter ended March 29,2008 shows a 43 percent growth in revenue on a year-over-year basis. The Company posted revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share. Internet search giant (Google) also defies the economy and shows a profit higher than what the analysts expected.
Google Chief Executive Eric Schmidt gave all credit to the ongoing innovation in search, ads and apps , which helped in healthy growth globally across different product lines. "We are obviously very pleased with another strong quarter for Google,” Eric E. Schmidt, Google’s chief executive, said during a conference call with Wall Street analysts. “It is clear to us that we are well positioned for 2008 and beyond, regardless of the business environment that we find ourselves surrounded by."
As Michal Porter says “ Innovation is the central issue in economic prosperity”
I’ll say that the big innogiants (innovative giants) have proved this even in situation of economic slowdown or recession.