As we open a new calendar for the year, it’s important to reflect on key learnings over the past year and ascertain which ones are applicable to our business. PWC’s Strategy& group published a highly compelling report on the Top 1000 Innovators and below are some of our favourite take-aways. What are yours?
- Innovation is a culture that must be rooted in customer centric behavior and adopted company wide, from the part-time summer student all the way up to the executive suite.
- Software and Internet R&D investment is anticipated to increase by more than $40B USD per year by 2020
- Healthcare and an aging population are driving consumer demands and R&D investments in the healthcare sector are anticipated to surpass all other categories by 2020
- Innovation strategies are proven to be more successful when they are aligned with business strategies
- Cumulatively, investments are positive across the globe (+11.4%) with China (+34.4%) and Europe (+14.0%) leading. Global R&D spending surpassed $781B USD