DuPont and the Seven Rules of Innovation

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Recommended: Formulation of strategy at corporate level

E. I. du Pont de Nemours and company (known as DuPont) has grown to become a global industry leader in a variety of fields. It appears DuPont has done so by following the seven rules of innovation. This paper will discuss the seven rules and how DuPont implements and utilizes them.

The first rule of innovation according to Davila, Epstein and Shelton (2013) is to exert strong leadership. DuPont’s current Chief Executive Officer is Ellen Kullman. According to Dupont.com (n.d.), Kullman has been in this position since 2009. Fortune and Forbes have named Kullman amongst the "50 Most Powerful Women in Business and 50 World’s Most Powerful Women" respectively (DuPont Website, n.d.). DuPont credits Kullman with transforming the company to achieve higher growth and value so she appears to be a wise choice to lead the company.

Davila et al (2013) indicate that having innovation integrated into the business mentality 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 feeding the world, reducing dependence on fossil fuels, and protecting what matters most” (DuPont Website, n.d., "Our Approach" pg 1). DuPont’s core mission is “sustainable growth” (DuPont Website, n.d.) and their innovation strategy and business mentality support this.

DuPont uses inclusive innovation as their company strategy and they are constantly trying to create new innovations and products to enhance the lives of their customers and the world (DuPont Website, n.d.). This coincides with the third rule of innovation, match innovation to company strategy (Davila, Epstein, & Shelton, 2013). DuPont.com (n.d.) notes that 60% o...

... middle of paper ...

...ater buy-in from the employees (DuPont Website, n.d.).

DuPont appears to utilize the seven rules of innovation very well. The company has a strong leader who is able to promote and support innovation on all levels. As a result of the DuPont innovations the world is a better place for many to live in. 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 it, measure it, and profit from it (2nd ed.). Upper Saddle River, NJ: Pearson Education Inc.

DuPont Website. (n.d.). www.dupont.com

The Wall Street Journal (Producer). (2013, December 10). WSJ Viewpoints: Ellen Kullman, DuPont CEO. In WSJ Viewpoints [Video podcast]. Retrieved from http://live.wsj.com/video/wsj-viewpoints-ellen-kullman-dupont-ceo

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