DuPont and the Seven Rules of Innovation Essay

867 Words 4 Pages
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 (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
…show more content…
To do this, the company has expanded its development in the areas of genetically modified organisms (GMOs), hybrid seeds and rice, and other technologies to aid in global agriculture and nutrition (DuPont Website, n.d.).
The Wall Street Journal interviewed Kullman in December 2013 to discuss DuPont and the corporate strategy (The Wall Street Journal [WSJ], 2013). During the interview, Kullman indicated the strides DuPont is making in agriculture and nutrition are “not philanthropic” but rather very valuable and produce high capital. Kullman explained that while DuPont’s goal is to achieve sustainable growth and many of the products and innovations created by DuPont are used in a philanthropic nature, the corporation is able to differentiate between creative ideas for the sake of creativity and creativity for profit (DuPont Website, n.d.). Kullman noted that she relies on the presidents of the many businesses under DuPont to constantly assess their innovations and value capture abilities (WSJ, 2013). Davila et al (2013), notes that the ability to manage the natural tension between value capture and creativity is the fourth rule of innovation.
The fifth rule of innovation according to Davila et al (2013) is to neutralize organizational antibodies. The authors suggest that the best way to do this to create a culture that “has the capability and the courage to change, explore and innovate, while at the same time remaining stable enough to deliver on its innovations”

Related Documents