“Helped weed out losing ventures.”
It also killed innovation since innovation is a cost center and not a short term profit center.
Rolls Royce is the jet engine leader today and they don’t give a damn about rankings next to anyone else. They do R&D.
I've sat in many R&D planning meetings where the mandate was made clear: show me on your long range plan where this proposed investment results in sales within the next three years or it doesn't get funded. This is what managers are measured to, their three year plan, period. And we know that you get what you measure. In this case you get short term gains at the expense of long term growth and sustainability.