As domestic markets mature and global competition increases, organisations face the challenge of becoming more customer and service-focused to reach their profit goals. Many organisations have turned to innovation as the key to producing new products and services.
To implement innovation strategies, organisations usually focus on increasing investment in research and development. Australian business spending on R&D is at its highest level, yet many government and business leaders have called for Australian firms to dramatically increase their rate of R&D investment to maintain global competitiveness. Is more R&D the solution to making Australian organisations more innovative?
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