The U.S. has traditionally led the world in manufacturing innovation. However, other countries are closing the gap as investment in R&D spending abroad begins to dwarf R&D spending at home.
Between 2000 and 2015, U.S. private sector R&D spending grew 34%, an impressive increase, but not when compared to Japan (43%); South Korea (256%); and China (1,056%).
What, then, do U.S. manufacturers need to do to stay ahead in today’s increasingly competitive global environment? It starts with cultivating a culture of innovation—one that supports R&D, risk-taking and strategic long-term investments. For the last 40 years, I have worked for USG, a manufacturer that has been on the cutting edge and witnessed firsthand how the combination of the big and small ideas can dramatically transform an industry.
