Money Isn't Everything

Art Kleiner, Editor of strategy+business send along results of a study which refutes the common wisdom, 'spend a bundle and win.'

That's simply not so, according to the Booz Allen Hamilton Global Innovation 1000, the most comprehensive study ever to assess the influence of R&D spending on corporate performance. The survey, which tracked the 1,000 biggest investors in innovation, reveals the true value of the R&D dollar and the basics of a better strategy.

The bottom line: Lavish R&D budgets are no substitute for creativity, analysis, and disciplined management.