This is to announce that a new series of trophies has been created to recognize the success of innovative and creative businesses in the United States and Canada. This line of trophies has been christened the PrixExtraAwards. Since these awards are to be presented to companies bringing something new to the marketplace, the companies selected may not be
the ones reporting the highest quarterly earnings. But in each case they are to be organizations that have left an undeniable mark on our economy during the year in which they are recognized.
Although the selection of the candidates will be to some degree subjective, qualifications may be reached in a number of ways. Marketing will be one determinant. This is important because a successful company may not be the one with the lowest price point. Tesla motors has demonstrated innovation in their advanced use of robotics in the manufacturing of electric cars. And in having a vehicle that can go from 0-60 mph in three seconds, while at the same time running for a week on one electrical charge; Tesla has swept past two of the main criticisms of their class of product: performance and convenience. They also continue to make great strides in research and development, ensuring that they will be leading, not following, in the marketplace.
The companies recognized may have created a new product that meets with a wellspring of public interest, but they may also be those that have been able to leverage their existing corporate presence, adapting it to encompass a much broader market.
One classic case of an innovative and creative company which remains vital to this day is Amazon.com. Anyone who was following all the enterprise changes which took place during the Tech
Bubble can recall many startups that came and went with the rapidity of successors to a failed restaurant location. Amazon poured money into its business operation for quite a few unprofitable quarters while it built up its clientele, providing a seamless supply chain and a remarkable customer service experience. Over the course of years, it followed that up by applying its original business model into handling a dizzying array of other products. The membership portal of “Amazon Prime” is a classic example of taking a company’s basic business fulfillment model and ratcheting it up, for a fee, to a consumer delivery system that defines modern commerce.
It is the intention of the founders of the PrixExtraAwards that companies that display a similar promise be recognized and celebrated. There is a famous phrase associated with capitalism: “creative destruction.” This being the concept that the success of a free market economy necessarily will witness failings, as a company may see its line of business die away as it is left behind by an evolving economy. And following this concept, new companies will rise that embrace and define the future. The recognition associated with being a recipient of a PrixExtraAward should serve as a reminder that there is still a place in our economy for stepping beyond the commonplace, because this is a vital necessity in keeping the free enterprise system alive and well.