Thursday, April 23, 2009

Xerox CEO: Don't cut back on innovation

In her recent article in Fortune magazine, Xerox CEO Anne Mulcahy expressed how important it is for companies to expand their innovation strategies throughout these difficult financial times. Mulcahy writes,

I know from experience one of the biggest mistakes that can be made right now is to slash investments in innovation. And by innovation, I don't just mean product research and development. It can also be innovating in new markets, launching new businesses, and even disruptive innovation in work processes. To be sure, a company's R&D investment pool looks tempting in tough times. And draining it might save a few jobs or help make the quarterly results less painful. However, if you fail to fund the future, all you'll be left with is a really lean company trying to churn old ideas into new business.

We encourage you to read the rest of her article on its original post here.

Is your company cutting back on innovation or are you pressing on?

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