Customers, not Cash, are the Key to Innovation Success

There is no correlation between how much a company spends on R&D and its overall financial performance. So what can help a company turn decent ideas into solid products? The latest iteration of Booz & Company’s annual survey on R&D spending of the 1,000 public companies that spend the most on innovation sheds light on what strategies are working.
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Stop Chasing Too Many Priorities

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If you feel you have too many priorities and claims on your attention, you are hardly alone. A recent survey of 1,800 global executives (see Booz & Company’s Coherence Profiler) that dug into this issue revealed a wide range of related management ailments, including:

  • Most executives (64%) report they have too many conflicting priorities.
  • The majority of executives (56%) say that allocating resources in a way that really supports the strategy is a significant challenge, especially as companies chase a wide set of growth initiatives.
  • 81% admit that their growth initiatives lead to waste, at least some of the time.
  • Nearly half (47%) say their company’s way of creating value is not well understood by employees or customers. Read more
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