Corporate R&D spend up despite global recession

Despite (or because of) the global financial crisis, a survey by global management consulting firm Booz & Company has shown that the top 1,000 public corporate research and development spenders increased their outlay in 2008. While sales were up only 6.5 percent, R&D expenditure rose 5.7 percent to US$532 billion with leading companies recognizing the importance of focusing on R&D in order to take advantage of competitors in the coming upturn. As Booz & Company Partner Barry Jaruzelski succinctly puts it: “Reducing efforts on innovation would be similar to unilateral disarmament in wartime.”

« Back to Corporate R&D spend up despite global recession