Importance of research and development in organizations pdf

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importance of research and development in organizations pdf

Research and Development: Why to Invest in R&D

This case study looks at how one company in particular has responded to the opportunities presented by new digital technology. It continues to be at the forefront of the move towards digital printing within the UK. It has adopted CTP technology so as to provide its brand-leading customers with a competitive edge. Polestar serves the publishing, retail, travel and direct marketing sectors through the production of catalogues, brochures, magazines, newspapers, packaging and direct mail. Polestar has certainly come across you; the group printed all of the forms for the UK Census Polestar is a B2B Business to Business company.
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IMPORTANCE OF RESEARCH

The Advantages of Research & Development Business Strategies

Some advantages of research and development are clear, such as the possibility for increased productivity or new product lines. Research and development consist of the investigative activities that a person or business chooses to do with the desired result of a discovery that will either create an entirely new product, product line , or service. Research refers to any new science or thinking that will result in a new product or new features for an existing product. Research can be broken down into either basic research or applied research. Basic research seeks to delve into scientific principles from an academic standpoint, while applied research seeks to use that basic research in a real-world setting. The development portion refers to the actual application of the new science or thinking so that a new or increasingly better product or service can begin to take shape.

Research and Development departments are common in many larger companies, especially those working with newer products or technologies subject to important shifts. While research and development work can be instrumental in creating new products or adding features to old products, the work that the department does is more complex than simple innovation. Market participation refers to the ability to attract new customers and win customer interest.
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Marketing orientation

Research and Development plays a critical role in the innovation process. If you want a great example of an innovative firm…. This absolutely massive company entered the market with a bang, slid back slightly in the early s but from onward has been doing spectacular. What happened in ? Intel greatly sped up its product lifecycle process. This is fancy computer engineer speak for the fact that each year they modify one of two things that are critically important for the speed and power of microprocessors. Intel regularly blows away their competition.

Having to deal with a competition that has became worldwide and under the pressure of its stockholders, SMEs have now to obtain higher level of performances days after days. Hence, it will allow your company to adapt itself in an efficient way to market changes Freel, It can help you gain sustainable competitive advantages and position your company in an extremely comfortable situation within your market and therefore benefit from long term profits. By showing them that you have the right structure to innovate constantly it will make them understand that your company has everything it needs to meet sustainable growth, if not already met. Recruitment: top talents are also attracted to innovative companies doing exciting things.

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