Most execs not content with innovation spending returns

News Article - 09 August 2007
Category: Business

The majority of global executives are not happy with the returns on their innovation spending, a report has shown.

Research conducted by the Boston Consulting Group (BCG) has highlighted that fewer than half of executives are content with their returns, down from 52 per cent in 2006.

Two-thirds said that innovation was among their top three priorities as opposed to 72 per cent the previous year, while 67 per cent plan to increase their spending on innovation compared with 72 per cent in 2006.

"Most companies consider innovation important, often critical, to their business. Yet they're increasingly frustrated," said BCG senior partner James Andrew.

Many firms feel that they should be reaping the rewards of their innovation efforts - such as new services and products - but these benefits often seem elusive, he added.

Earlier this year the firm reported that talent management was seen as the biggest challenge to HR professionals within Europe.

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