A recent survey on R&D spends of 1,000 companies has declared Apple to be the most innovative company globally in 2011. Google and 3M got ranked second and third most innovative companies in the list of Top 10. The survey was conducted by Booz & Co., a consulatncy firm.
Apple spent $2.4 billion on R&D, 2.2 per cent of its sales. In contrast, rival Microsoft, was the top spender in the software and Internet sector and was ranked by as the 6th most innovative company. Interestingly, the report further says that there is no correlation between the money a company spends on innovation efforts and its overall financial performance. Instead, what matters is how companies use money, other resources and the quality of their talent, processes, and decision making.
Other companies on the list are Samsung, GE, Microsoft, Toyota, P&G and IBM, in the order of their ranking.