Spending big bucks can stifle brainwaves

11/5/2009 | Harvard Business Review online

Pledging to spend large amounts of money on innovation efforts can actually make it harder for companies to achieve their goals, writes Scott Anthony. Spending heavily discourages risk-taking, leads people to focus on new technology rather than new business models and can commit a company to a strategy that may not pan out. "If you are truly committed to innovation ... spend less money and more time," Anthony suggests. "You'll end up making substantially more progress."

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