A report on R&D notes that Apple isn’t a leading spender but ranks high by executives in innovation
The Council of Canadian Academies’ panel on the state of industrial R&D in this country concluded that building a strong foundation of IR&D “is an essential part of developing that capacity for the future, thereby ensuing that Canadians firms can successfully compete in a global economy increasingly centered on knowledge and technology.”
IR&D “is a cornerstone of long-term sustainable growth.”
But R&D doesn’t necessarily translate into innovation, the report adds.
In a sidebar it notes a 2010 international survey found executives called Apple Inc. the most innovative firm in the world. Yet Apple ranked only 81st in total R&D spending among corporations.
Google and Microsoft spent more than three times as much of their revenues on R&D.
In fact, of the top 10 ranked most innovative firms, only three were in the list of top 10 R&D spenders.
“Apple’s successful record of innovation was clearly not a function of R&D spending alone,” says the report. “It was also related to investments in innovation in its supply chain, marketing, and design.”Related Download
Sponsor: IBM Canada Ltd
Pushing the frontiers – CFO Insights from the Global C-suite Study
Based on a global survey of 576 CFO interviews, this whitepaper from IBM's Institute for Business Value provides analytical insights into the traits of leading CFOs and what they are doing to become more efficient, forward-looking and proficient at creating profitable growth.