Innovation is something that most organizations want to master so that they can survive in our increasingly ‘VUCA’ world. Innovating well is increasingly challenging however. A recent study from the Stanford Institute for Economic Policy Research highlighted the difficulties organizations face in the modern world.
The study examined the productivity of research and development, on both a national as well as industrial scale, and found that organizations need to spend significantly more, both in terms of human and financial resources, to achieve the same kind of results as were achieved in the past.
Despite both research expenditure and the number of researchers deployed in R&D going up significantly, the out is not rising in unison. Indeed, the authors reveal that roughly 20 times as many people are employed in R&D as was the case in 1930.