This may sound as though we’ve got our facts backward, but your company can significantly increase its knowledge output by cutting R&D spending.
It’s all a matter of when you cut your spending, and why.
Take Cisco, for example. The company’s R&D expenditures dropped by about $1.5 billion from 2002 through 2004. Drawing on data from the U.S. National Bureau of Economic Research, we found that during this period, the company’s patented knowledge output increased significantly.
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