Real Innovation Requires More Than an R&D Budget

ABSTRACT:
I believe the disconnect between ambition and execution comes from an overly narrow view of what innovation entails and a tendency to conflate innovation and R&D. When business leaders don’t see breakthrough results from their R&D divisions, they take it as a sign that long-term investments in innovation don’t pay off and cut R&D spending. In reality, innovation is much bigger than R&D. It involves three distinct capabilities: Discovery, Incubation, and Acceleration (DIA).

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