Innovation Versus R&D Spending

Thanks to the author: https://www.strategyzer.com/blog/author/tendayi-viki

Investments in R&D to foster technology, science or product innovation are just the first steps towards success. The hard part of innovation is achieving market success with the technology and products we invent. Some of the most innovative companies in the world do not spend a lot on R&D in proportion to their revenues.

We are often asked to advise company leaders on how much they should invest in technology, science and product innovation. Their assumption is that the more technology and products they invent, the more success they will have with innovation. While spending nothing on R&D is often not an option - technology, science and product innovation are just the first steps towards success.

Having great new technologies and products certainly doesn’t guarantee immediate returns. Research by the consulting firm Simon Kucher & Partnersshows that 72% of...

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