There are few organizations that don’t wish to innovate, but whilst most aspire to develop creative new products, services and processes, the evidence is mixed as to their ability to do so successfully. A big contributor to this gap is the cost of innovation.
A recent study from the Stanford Institute for Economic Policy Research highlighted the growing costs involved in innovation. The research shows that companies are investing far more than their historic peers to achieve the same results. Organizations today are devoting approximately 20 times as many people to R&D as their peers did in 1930, but the output from all of this endeavor is not rising in unison.
