Topic > DuPont and the Seven Rules of Innovation - 865

EI du Pont de Nemours and his company (known as DuPont) have grown to become a global industrial leader in a variety of fields. It seems that DuPont did this by following the seven rules of innovation. This article will discuss the seven rules and how DuPont implements and uses them. The first rule of innovation according to Davila, Epstein and Shelton (2013) is to exercise strong leadership. The current CEO of DuPont is Ellen Kullman. According to Dupont.com (n.d.), Kullman has been in this position since 2009. Fortune and Forbes have named Kullman among the “50 Most Powerful Women in Business and the 50 Most Powerful Women in the World,” respectively (DuPont website, n.d. ). DuPont credits Kullman with transforming the company to achieve higher growth and value, so he appears to be a wise choice to lead the company. Davila et al (2013) indicate that integrating innovation into the business mindset is the next rule of innovation. DuPont's website indicates that they have an "inclusive innovation strategy." DuPont.com (n.d.) notes, “Inclusive innovation means global collaboration focused on powering the world, reducing dependence on fossil fuels, and protecting what matters most” (DuPont website, n.d., “Our Approach " page 1). DuPont's core mission is "sustainable growth" (DuPont website, n.d.) and their innovation strategy and business mindset support it. DuPont uses inclusive innovation as a business strategy and constantly seeks to create new innovations and products to improve the lives of its customers. and the world (DuPont website, n.d.). This coincides with the third rule of innovation, matching innovation to business strategy (Davila, Epstein, & Shelton, 2013). DuPont.com (n.d.) finds that 60% of... half of the paper ......after employee consent (DuPont website, n.d.). DuPont seems to use the seven rules of innovation WELL very well. The company has a strong leader who is able to promote and support innovation at all levels. As a result of DuPont's innovations, the world is a better place to live for many. DuPont really seems to understand innovation and how to make it meaningful and profitable at the same time. References Davila, T., Epstein, M.J., & Shelton, R.D. (2013). Making innovation work: How to manage, measure and profit from it (2nd ed.). Upper Saddle River, NJ: Pearson Education Inc.DuPont website. (n.d.). www.dupont.comThe Wall Street Journal (producer). (2013, December 10). WSJ Views: Ellen Kullman, CEO of DuPont. In WSJ Viewpoints [Video podcast]. Retrieved from http://live.wsj.com/video/wsj-viewpoints-ellen-kullman-dupont-ceo