It’s very interesting to read about the research findings of Booz & Company’s annual Global Innovation 1000 study. According to their survey, the critical factor to R&D is not how much a company reinvests into their R&D, but rather, how they reinvest it. Apple was the most obvious example of the survey. Voted most innovative company of the year by the respondents, the study also showed that Apple only reinvested $1.8 billion, or 2.7% of their turnover. In contrast, the biggest spender of 2010, Roche Holding, spent around $9.7 billion, or 21.1% of their turnover into their R&D.
Thus comes the question: what is the critical factor that will drive successful innovation? The survey comes to the conclusion that it is having strategic alignment and creating a culture that supports innovation.
That is precisely what NPD New product Development World Tour Scandinavia is centering around. Best practice cases from companies like GlaxoSmithKline, Tetra Pak, Philips Healthcare, Danfoss, SKF, and many others will discuss such key topics as:
- • Stronger cross-department collaborations to ensure a full follow through of the process
- • Collaborative NPD – supplier/customer, intra-industrial, and trans-sectorial cooperation to push open innovation and gain the competitive edge
- • Running a successful global product development to optimize the efficient use of company-wide resources and expertise
Looking forward to seeing you at Bellasky Comwell in Copenhagen January 31st- February 2nd!
Sincerely,
Thomas Igou, Project Manager, NPD New Product Development World Tour Scandinavia
Link to article: http://www.booz.com/global/home/what_we_think/featured_content/innovation_1000_2011
