During hard times investment in design can give a business a competitive edge over rivals who are reining in their design and innovation budgets in order to save money. As American Express chief executive Ken Chenault told Fortune magazine: ‘A difficult economic environment argues for the need to innovate more, not to pull back.’ Similarly, in September 2008 following a crisis in the global financial markets and in the face of an impending worldwide recession, Intel’s chairman Craig Barrett told Reuters that investment in the company’s products and innovation remained very much on track. ‘We’ve always had the attitude that you have to make that investment in good times and bad,’ he is quoted as saying.
This is an excerpt from the article - Designs to overcome a downturn
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