Apple has been named the world’s most innovative company by management consulting firm Booz & Co. for the third year in a row.
Although it spent less than Amazon (AMZN) on R&D last year, half as much as Google (GOOG) and IBM (IBM) and one third as much as Samsung and Microsoft (MSFT), executives polled by Booz & Co. named Apple (AAPL) the world’s most innovative company for the third year in a row.
A line from the Booz report says it all: “…it is not how much companies spend on research and development that determines success — what really matters is how those R&D funds are invested in talent, process, and tools.”
In the management consulting firms eighth annual survey, Apple, Google, and 3M all retained their spots, 1, 2, and 3, respectively. Samsung rose for a second straight year, and Amazon was in the top 10 list for the first time.