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Despite recession, world's leading innovators increased R&D spending in 2008
Source: BI-ME , Author: BI-ME staff
Posted: Sun November 1, 2009 1:56 pm
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INTERNATIONAL. In the face of a severe global recession, the world’s 1,000 largest publicly traded corporate research and development spenders increased spending on R&D in 2008, affirming the critical importance of innovation to their corporate strategies, according to global management consulting firm Booz & Company’s fifth annual analysis of global innovation spending, released today. 

R&D outlays for these companies rose by 5.7% to US$532 billion, even as sales were up only 6.5%. While the increase in 2008 R&D spend was less dramatic than 2007 ‘s gain of 10%, it was just slightly less than the 7.1% global five-year compound annual growth rate (CAGR) for R&D. 

Overall, more than two thirds of companies maintained or increased their R&D spending in 2008, despite more than a third (34%) reporting that net income plummeted last year, according to the study. More than a quarter of companies decreased their R&D allocation in 2008.

Booz & Company analyzed the world’s top 1,000 public corporate research and development spenders – the Booz & Company Global Innovation 1000 – in what continues to be the most comprehensive effort to assess the link between R&D and corporate performance.

The study looked at R&D spending and its link to corporate performance, uncovering insights into how organisations can get the greatest return on their innovation investment. 

New to the study this year is an in-depth survey of nearly 300 senior managers and R&D professionals from 250 companies around the globe that probes the impact of the downturn on innovation spending and strategy.  

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. Faber said, considering the size of the stimulus packages and the monetary printing, the US economy hasn't responded well. What have responded well are asset markets but unemployment is horrrible and the typical household is suffering.
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