Interestingly, 43 percent of the participants named Google and included it among the top three as well as 3M who got more than 15 percent. Samsung came in at fourth place, Microsoft landed at the sixth spot, and Amazon managed to grab the 10th place. Apple’s spending on R&D over the past three years has reached S$2.4 billion, but the firm adds that Apple only spends 2.2 percent of its sales on its innovation efforts. “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,” writes Booz & Company.
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