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Global executives name Google, Apple, and GE among the world's most innovative companies according to a new study from global management consulting group Arthur D. Little.
ADL's bi-annual survey of 400 global companies compared innovation capacity against the industry average. A top innovator was identified for each sector, based on the success of its sales and new product time-to-market against the industry average. Sectors included:
• Technology, Information, Media & Electronics
• Electrical Engineering & Electronics
• Chemicals & Pharmaceutical
• Engineering, Machinery and High-Tech
• Retail/FMCG
• Automotive
• Energy & Utilities
• Financial Services
• Logistics
Top innovators typically achieve up to twice as many sales as the industry average, realize higher EBIT, and roll out new products twice as fast as their competitors. ADL said 87% of companies surveyed do measure their innovation performance, but most have significant potential to improve their innovation efforts.
"Benchmarking R&D performance against peers and competitors is the best way to kick-start stagnant or underperforming innovation programs" said Per I. Nilsson, global head of the ADL Technology and Innovation Management Practice.
Top innovators identified new business and new product development as top strategic priorities, noting that they are unlikely to be selling the same set of products and services as successfully after the financial crisis a they were prior to it.
Survey results can be downloaded at:
www.adl.com/InnoEx
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