Managing in Turbulent Times

Abstract

best time to plant a tree is twenty years ago. The second best time is now. --Proverb The dilemmas of managing RD capital spending for RD RD hiring of new graduates; and directed basic research (among others). These actions may be natural responses during a downturn; every function is seeking to be more efficient and to focus on the current threats to the business. Should R&D be any different? I think so. Managing R&D presents unique challenges. Because of the nature of the investment, the effect of cuts now can be magnified later. * Timeliness: If you defer investments in longer-term initiatives and your competition does not, you can become dog food in the words of Craig Barrett, former chairman and CEO of Intel. On the other hand, if you continue them, you need thick skin to weather the shorter-term perspective of Wall Street. * Rework: It takes time to build up the skills that might bring an innovative new technology or concept to market. If a project is interrupted, it often cannot be reinitiated where it was abandoned. According to William Banholzer, CTO of Dow, constancy of purpose is the key to success. At the same time, something has to give. * Rebuilding: Hiring and assimilating R&D talent takes longer than in many functions (sales, marketing, HR). …

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