Booz & Company, one of the most prestigious management consulting firms in the world, is giving “The World’s Most Innovative Company” title to Apple. In recently published study entitled “2012 Global Innovation 1000 Study: Making Ideas Work,” the firm notes that Apple didn’t just top the rankings as it did the past two years, but it increased its lead substantially. Booz & Company asked survey participants to name the companies they thought are the most innovative. Apple was named by almost 80 percent of the participants as one of the three most innovative companies today – a 10 percent increase from last year’s 70 percent score.
Interestingly, 43 percent of the participants named Google and included it among the top three as well as 3M who got more than 15 percent. Samsung came in at fourth place, Microsoft landed at the sixth spot, and Amazon managed to grab the 10th place. Apple’s spending on R&D over the past three years has reached S$2.4 billion, but the firm adds that Apple only spends 2.2 percent of its sales on its innovation efforts. “It is not how much companies spend on research and development that determines success — what really matters is how those R&D funds are invested in talent, process, and tools,” writes Booz & Company.
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