Word: willingly
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Dates: during 1970-1979
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Businessmen must share the opprobrium for stifling innovation. Says Donald Frey, chairman of Bell & Howell: "The biggest problem in the U.S. is not the lack of inventive capacity but the lack of businessmen willing to take the risk investments." The bottom-line obsession of many managers results in quick payoff investments to retool old products rather than expensive long-term spending to develop new ones. Though Texas Instruments this year will spend $155 million on research, Vice President George Heilmeier admits: "We have become conservative and spend less on basic research...
Large technology-based firms like IBM and Bell Labs are also sinking megabucks into research. Bell Labs will spend $1 billion on research this year, with large amounts going to develop fiber optics -systems that carry information in rays of light traveling through slender glass fibers rather than in electric...
Even some of the "defensive research" is starting to pay off. Last week the 3M Co. introduced a lithograph printing plate that uses nonpolluting tap water instead of chemical developers to produce an image. General Motors' new zinc-nickel oxide battery pack-which can be completely recharged 300 times...
The Government has also begun to recognize its responsibility for the low level of innovation. "Whether intended or not, the Government is inevitably involved in today's innovative process," concedes Richard A. Meserve, policy analyst for the White House Office of Science and Technology Policy. In the past three...
What drove him to invent? The desire to make money and win personal glory, of course. But even Edison saw that was not enough. One of his less noted sayings pointed the way not only for inventors but for all those who work with their brains. He plastered his labs...