THE CHEMICAL COMPANY

Abstract

This year the chemical and allied products industry should spend another $1.5 billion for various research and development projects. How much is truly basic or exploratory research and how much application or supporting research will not be exactly clear; it never is. Nor will the criteria for R&D outlays be clear, either, except for some handy rules such as a certain per cent of sales should be spent annually. This will average 3% of sales for the industry and is not apt to cause much concern, for the industry obviously will stagnate without technological progress. But is technological progress the exclusive domain of the laboratory or pilot plant? Is innovation confined to a selected group within a company which actually practices science and engineering? Hardly, for innovation can stem from almost any area in a company. But how many managers and executives actually allocate funds for research in marketing or management? Probably a handful at ...