World Monitor Mag, Industrial Overview WM_November_2018_WEB_Version - Page 93

additional content Inside the High-Leverage Innovators We first conducted the high-leverage innovator analysis in 2006, finding 94 companies that fit the criteria, and then created the list again in 2007, identifying 118. For this year’s study (when we found 88 such companies), we compared the list across three years — 2007, 2012, and 2017 — to provide a 15-year performance window (each list draws on the previous five years of data). Only two companies qualified as high-leverage innovators in all three years: Stanley Black & Decker and Apple — Silicon Valley’s poster child for innovation excellence and the perennial leader of our “10 Most Innovative Companies” list. One of the notable changes to the high-leverage innovator list since its earlier iterations has been the dramatic rise of companies headquartered in China, from 3 percent of the total in 2007 to 17 percent in 2017 — a net increase of more than 400 percent (see “China’s R&D Success Story”). The number of high-leverage innovators in Europe also increased significantly, from representing 18 percent of the total number in 2007 to representing 30 percent in 2017. Meanwhile, the number of high-leverage innovators fell 45 percent for North American companies, 8 percent for Japanese companies, and 23 percent for the “rest of world” countries. Among industries, the number of high-leverage innovators rose between 2007 and 2017 in telecommunications, consumer goods, healthcare, industrials, autos, and aerospace and defense, while the numbers fell in chemicals and energy, computing and electronics, and software and Internet. Looking at all three supported by EUROBAK 91