More than ever before, business innovation is a strategic imperative. A critical driver of growth, competitiveness, and shareholder value, innovation is cited by senior executives around the world as integral to their companies’ success. And innovation benefits countries as well. In those with thriving industries, people have higher incomes, a better quality of life, and a higher standard of living than in less robust nations.
In today’s fiercely competitive global economy, the need to stay one step ahead is even more urgent. To remain in the game, companies must differentiate themselves through innovation: new products and services, new ways of working, new ways of going to market. And government—at both the national and the local level—must support these efforts through effective policies. Now is the time for companies and countries alike to focus on strengthening their competitive position. Only those nations that continue to invest in innovation and its enablers, such as a highly skilled and talented work force, will stay competitive in the long run.
So, how does the United States rank as an innovation leader relative to other countries in the world?