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In Corporate America there are few research labs left. Basically, Wall Street tends to focus on short-term result. Why then invest lots of money on something that may take years to hit critical mass?
Well, in the case of Xerox (NYSE: XRX), the philosophy is much different. That is, its research labs are a critical part of the company's competitive advantage.
In fact, I recently had a chance to talk to Steve Hoover, who is the head of Xerox's Webster research lab.
Admittedly, I kind of envy his job. It must be cool tinkering with way-out technologies, huh?
"I try to find ways to allow ideas to bloom," said Hoover. "For example, we have meeting-free Fridays. Or, there are 'cookie days,' where we bring cookies and talk about cutting-edge ideas. It could be an interesting book, blog."
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