By k | April 21, 2012 - 6:00 am - Posted in New Business Development

The Booz & Company’s
Annual Global Innovation 1000 study
shows that

“Specifically,
the 44 percent of companies
who reported that
their innovation strategies are clearly aligned
with their business goals —
and that their cultures strongly support
those innovation goals —
delivered 33 percent higher
enterprise value growth and
17 percent higher profit growth
on five-year measures
than those lacking such tight alignment.”

Interestingly,
this alignment has a bigger impact
on innovation success
than R&D spend.

In other words,
if your company doesn’t support innovation
and doesn’t have innovation
as part of the greater business goals,
it doesn’t matter how much
you spend on R&D.
You’re less likely to be successful.

Work on your company culture
before you spend on R&D.

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