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Strategic Innovation Does Not Equal Dollars Spent

My colleague Gray Hammond sent along this interesting coverage of innovative companies, and I thought it might be of interest to my readers as well.

Booz & Company’s latest annual study of global innovation, The 2010 Innovation 1000: How the Top Innovators Keep Winning, surveyed more than 400 executives at companies worldwide to find out the characteristics of the most innovative firms. Here are the top 10 most innovative companies:

  1. Apple
  2. Google
  3. 3M
  4. GE
  5. Toyota
  6. Microsoft
  7. Procter & Gamble
  8. IBM
  9. Samsung
  10. Intel

Reporting on the study in Forbes, study co-author Barry Jaruzelski shared some of the findings.  One finding that might surprise you: Money does not equal innovation. Seven of the top 10 innovators were not in the top 10 spenders on innovation. In fact, many companies identified as top innovators spent well below the average for their industries on R&D.

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