Emerson 2004 Annual Report Download - page 8

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to be a technology leader?
What does it mean
6Emerson 2004
It means creating change, setting new industry standards, maintaining
a strong commitment to research and development, and increasing
the pace of product development and speed to market. It means spending
in areas that offer the best returns, whether gains in market share,
strengthened competitive position, or better service to customers.
Technology leaders continually strengthen their ability to innovate.
James G. Berges
President
Technology leaders enjoy competitive
advantage and market leadership, built
upon products and solutions that com-
petitors simply can’t match. At Emerson,
we’ve increased our technology velocity
by creating engineering centers around
the world to speed innovation through
around-the-clock collaboration. In 2004,
we expanded our investment in research
and development to $486 million to
accelerate new product development.
We continue to move toward our long-
term goal of generating 40 percent of
sales from products introduced within the
past five years. As a result, we’re able to
deliver superior products and industry-
transforming technologies that increase
our competitiveness in the high-potential
markets we serve, and create satisfied
customers who rely on us again and again.
Why does it matter?