For a large, multinational corporation like IBM, there are many challenges in the capital budgeting process. This part of the project will use IBM’s website to answer the following questions. From the front page, scroll all the way down and click on "About IBM". Click on it. You will find a lot of projects there. In your initial response to the topic you have to answer all 4 questions. You are expected to make your own contribution in a main topic as well as respond with value added comments to at least two of your classmates as well as to your instructor. From the site’s front page, access “IBM Research” (it changes from year to year, but it is under the “About IBM” tab at the bottom of the page). Choose three projects from the list and describe what the projects are and what resources they require. Can any of the projects that you selected be described as research collaborations? Why? Can any of the projects that you selected be described as academic collaborations? Why? Go back to the IBM front page, find “Investor Relations” at the bottom of the page. Go to IBM’s most recent annual report. How much did IBM spend on research, development, and engineering in the most recent year? How did this compare with the previous year?