Financial Times FT.com

Space to breathe in the downturn

By Daniel Schaefer

Published: March 1 2009 20:09 | Last updated: March 1 2009 20:09

Strategic thinking: Franz Fehrenbach, Bosch chief executive, is cutting costs but will not reduce spending on research and development

Robert Bosch once came across a stray paperclip while wandering round one of his factories. He asked a nearby worker if he knew what it was. “A paperclip,” the worker nervously suggested. “No – this is my money!” the entrepreneur said.

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