Business innovation is the result of a range of commercial and business strategies and not just R&D spend, a survey of BCA Members has found.
The report showed that process adaptation, applications of new technologies and capital investment in new plant and equipment are some of the ways BCA Member companies are achieving innovation success.
The survey found that large companies typically invest in research in order to grow their businesses, in particular by:
- capturing or maintaining market share;
- benefiting from emerging technologies; and
- finding new markets through the development of new products and services.
BCA Chief Executive Ms Katie Lahey said the survey aimed to shed light on the commercial imperatives that guide large companies to invest in research and development.
Read the full news release here or download a copy of the publication here.