Fast Company magazine likes the way Whirlpool spins innovation

Products like the Smart Energy Dryer have won Whirlpool Corporation, of Benton Harbor, the No. 5 spot on Fast Company Magazine’s World’s Most Innovative Companies list.Whirlpool was named as an innovation leader in the consumer products category, just after household product manufacturer SC Johnson and before boot-maker Timberland.Excerpt: “Whirlpool will make 1 million ‘smart’ dryers by the end of 2011. Smart Energy dryers will respond to peak-energy prices by lowering power consumption, saving money for homeowners and easing stress on the electric grid. By 2015, according to Whirlpool, all of its products will be compatible with the smart grid.”The story goes on to say that the company expects innovation to drive growth in 2010.”It’s not just about revenue growth and profit margins.”It’s about identifying creative models and progressive cultures – to define the many forms of innovation that exist across the business landscape.”The recognition adds to a series of way-to-go’s already bestowed on Whirlpool.In 2009, it was named one of FORTUNE’s “Most Admired Companies” in the electronics industry, one of the “100 Best Corporate Citizens” by Corporate Responsibility Officer magazine and one of the “Top 50 Most Respected U.S. Companies” by the Reputation Institute.Whirlpool employs 67,000 people worldwide and saw annual sales of approximately $17 billion in 2009. It has an innovation pipeline worth about $4 billion and in 2009 generated $3.8 billion in revenue from its innovation efforts.Whirlpool Corporation is the world’s leading manufacturer and marketer of major home appliances has 67 manufacturing and technology research centers around the world.The company markets Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world.To read more about it visit Fast Company.Source: Fast Company