Why R&D Spending Is Not A Measure Of Innovation

When it comes to R&D spending, corporate leaders often want to know what others are doing. How much are other companies in different industries spending on R&D? Leaders want to know the level of spending in absolute terms (i.e. total expenditure), and also as a percentage of revenue. The presumption is that R&D spending is somehow connected to increased innovation, revenue growth and profits.

However, leaders may be asking the wrong questions here. A focus on R&D spending might be a good way to gauge best practice within an industry, but . . .

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