by Noah Geisel
Earlier this week, the following headline popped up on my daily stat app: "Twice the R&D Budget Doesn’t Get You Twice the Innovations"
The study of around 100 semiconductor and related companies revealed that when companies double down on Research & Development, the effort “leads to just a 22.5% increase in new-product announcements.”
The language in the interpretation of this study (“leads to just...”) implies this is not an acceptable return on investment. One person I can think who might beg to differ is baseball player Ken Griffey, Jr. Had The Kid been able to reap a 22.5% benefit from putting twice as much into R&D on his home run swing, he would have retired with 771 career home runs, 9 more than all-time leader Barry Bonds (Hmmm...). One man's interpretation of diminishing returns is another's immortal legacy.
How does this relate to teaching and learning?
Research & Development are closely tied to risk-taking. As an educator, I am constantly challenging my students to push themselves in the 21st Century Skill of risk-taking, a key force behind invention, innovation and, I believe, general success in 2011 and beyond. Risk-taking is the lone subjective component found in every rubric students receive in my class - to the tune of at least 20% of the total grade. Risk-taking is also the only way a student may earn extra credit on any given assignment. It is one way of showing the students the floor and not the ceiling: show students the ceiling of expectations and some heads may bump the fan; show students only the floor and some will touch the clouds.