Innovation spending has declined because many companies, under pressure to show that they can disrupt a market (or to stave off disruption), are pursuing innovation haphazardly. Much of the investment ends up being non-strategic, poorly linked to the business, and under-managed. Some have even argued that innovation spending and activities are often exercises in corporate image-building rather than attempts to increase productivity or performance. No wonder companies are disappointed by their results. However, 31 companies have increased their spending on innovation by more than 50% and are "very satisfied" with the results. What did they do differently?
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