The document discusses innovation and research and development (R&D). It explains that R&D involves developing new products or processes and can help firms gain competitive advantages. However, R&D also carries high costs and risks since investments may not succeed. The document also notes that innovation has implications for other business functions like finance, marketing, and human resources.
R&D Research & Development Strategy & ManagementChief Innovation
Am one of the few people I know who has an R&D Strategy background, but you almost never can sell projects in that area unless you have a domain PhD. Most of this is from 3rd Generation R&D, written by former colleagues from Arthur D. Little, Phil Roussel, Tammy Erickson and Kamal Saad. Phil is no longer with us, great guy and good friend (always tell people, I taught him how to use a fax machine, 'Jay, how do I work this thing.' - 'Phil, put the page in there, and push that big green button.' - 'Oh, that was easy.' Safe to say, 23 years later I still have never written a cool book, but did know something he did not! This had 3 slides at the end of it that I cannot remember where they came from, think in the book but not in order.
The Innovation Commercialization Process:A Case StudyCheryl Tulkoff
When people think of innovation, they frequently think of the “big idea” or product while overlooking the fact that innovation is really a process.
They think of innovation solely in the creative sense rather than considering the importance or even existence of an innovation methodology.
Countless examples exist of good inventions that never succeeded in the marketplace or failed to live up to expectations while lesser ones thrived.
Many of these failures could have been eliminated through use of an innovation commercialization process.
This presentation describes the process and demonstrates its application through a case study.
R&D Research & Development Strategy & ManagementChief Innovation
Am one of the few people I know who has an R&D Strategy background, but you almost never can sell projects in that area unless you have a domain PhD. Most of this is from 3rd Generation R&D, written by former colleagues from Arthur D. Little, Phil Roussel, Tammy Erickson and Kamal Saad. Phil is no longer with us, great guy and good friend (always tell people, I taught him how to use a fax machine, 'Jay, how do I work this thing.' - 'Phil, put the page in there, and push that big green button.' - 'Oh, that was easy.' Safe to say, 23 years later I still have never written a cool book, but did know something he did not! This had 3 slides at the end of it that I cannot remember where they came from, think in the book but not in order.
The Innovation Commercialization Process:A Case StudyCheryl Tulkoff
When people think of innovation, they frequently think of the “big idea” or product while overlooking the fact that innovation is really a process.
They think of innovation solely in the creative sense rather than considering the importance or even existence of an innovation methodology.
Countless examples exist of good inventions that never succeeded in the marketplace or failed to live up to expectations while lesser ones thrived.
Many of these failures could have been eliminated through use of an innovation commercialization process.
This presentation describes the process and demonstrates its application through a case study.
Research and Development is the most important and functional part of the whole business organization which helps in deciding the considerable objectives, finding ways to accomplish them and taking future decisions for overall business growth.
In 2017, Global Research and Development investment has been maximum in the field of electronics and computing. The present foremost requirement of developing business is innovation and Research and Development is contributing a lot towards it.
Thanks for Reading
Team MakeWebBetter
Research and Development (R&D) is a process by which a company obtains new knowledge and uses it to improve existing products and introduce new ones to its operations. R&D is a systematic investigation with the objective of introducing innovations to the company’s current product offerings. It achieves this by adding improvements to the current goods and services or introducing a new product offering. Research and Development (R&D) theme Research and development are applied across different industries and sectors
Organazational and Strategic innovationAfrouz Hojati
Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for consumers, customers and the corporation
Drivers for product innovation; Process innovation; Concurrent engineering; Business process re-engineering - BPR; Reverse engineering; Value chain model & process innovation
Research and Development is the most important and functional part of the whole business organization which helps in deciding the considerable objectives, finding ways to accomplish them and taking future decisions for overall business growth.
In 2017, Global Research and Development investment has been maximum in the field of electronics and computing. The present foremost requirement of developing business is innovation and Research and Development is contributing a lot towards it.
Thanks for Reading
Team MakeWebBetter
Research and Development (R&D) is a process by which a company obtains new knowledge and uses it to improve existing products and introduce new ones to its operations. R&D is a systematic investigation with the objective of introducing innovations to the company’s current product offerings. It achieves this by adding improvements to the current goods and services or introducing a new product offering. Research and Development (R&D) theme Research and development are applied across different industries and sectors
Organazational and Strategic innovationAfrouz Hojati
Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for consumers, customers and the corporation
Drivers for product innovation; Process innovation; Concurrent engineering; Business process re-engineering - BPR; Reverse engineering; Value chain model & process innovation
TOPIC: How to win the new product game.
Before launching an product/service an company must consider some of the aspects to make successful entry or to win over the market.
here in this presentation some of those are discussed.
prepared for educational use by team of DSCE 2014
source: GOOGLE
The challenges of new product developmentJuraj Durco
Are you facing challenges during your product development?
If you want to stay competitive, you need to act fast and be agile, as speed to market is very important.
What do you do first? Do you understand your consumers?
3. Learning Objectives
By the end of the lesson you should be able to:
1. Understand the importance of innovation and research
and development to the competitiveness of larger
business.
2. Recognise costs and risks of innovation and research and
development
3. Analyse the implications of innovation to finance,
marketing and human resources.
4. Discussion Point
Innovation: The launch of a new product or process, an
What is meant by innovation?
invention, onto the market for commercial gain
Finish the following sentences:
The strategy of innovation has implications for other
The strategy of innovation has implications for….
functional areas.
The risk risk of heavy investment in R&D alsohas potential
The of heavy investment in R&D also has….
rewards.
5. What is research and development
(R&D)?
R&D is the scientific research and technological development of a new
product or process.
Questions Answers
1. Along with product development 1. Improve existing products or
what could R&D also improve? production process.
2. What does R&D enable a firm to 2. Competitive advantage with a USP
have? and greater efficiency.
3. Draw a product life cycle – where 3. At the start of the PLC.
does R&S appear?
4. Money only flow in one direction for
4. What are some of the downsides R&D so firms may want to keep this
of R&D? to a minimum.
5. Looking back at your PLC, what 5. Can prevent products going into
decline once they have matured in
else can R&D help to prevent? the PLC.
6. The process of R&D
Write a description based on your cue card. Place the card in the correct
order in process of R&D. You must be able to justify your reasons.
Idea Generation
Idea Screening
Concept Testing
Development of idea
Business Analysis
Product Development
Test Marketing
7. Using the following key words/ term, sum
up the purpose and cost of R&D….
New Products
or Processes
Costs
Maintain Market Share
Position Opportunity Cost
Competitive Advantage
8. Discussion Point
1. List the companies that you associate with the word ‘innovation’.
2. What industries are these companies in?
3. What are the characteristics of this company?
Decide - To which company would you award a
trophy to as ‘top innovator of the year’?
9. What are the risks and rewards of
R&D and launching new innovation?
Risks Rewards
Heavy time and resource Develop USP leading to
commitment with no competitive advantage.
guarantee of success.
Charge premium prices
Competitors reactions.
Improvements in efficiency
Loss of business direction. and production process.
Company image/ reputation Reputation of being
damaged. innovative.
10. What is the impact on marketing,
finance and human resources?
Marketing Finance Human Resources
May act to inform the Setting an monitoring Oversee R&D workforce
R&D department of a budgets for R&D. needs/ issues.
potential niche or
customer opinion – Costing new products. Increase or reduce
market-led. staffing numbers.
Work with marketing to
Play major role in develop pricing
promoting or getting structures/ profit.
the product to the
consumer.
11. Test Yourself!
1. What is meant by the term
innovation?
2. Why are patents often associated
with investment in R&D?
3. Explain one benefit of investment in
R&D.
4. If R&D is high risk then why do firms
undertake it?
12. Re-cap Learning Objectives
You should now be able to:
1. Understand the importance of innovation and research
and development to the competitiveness of larger
business.
2. Recognise costs and risks of innovation and research and
development
3. Analyse the implications of innovation to finance,
marketing and human resources.
Editor's Notes
Case Study – Designs on Dyson (P96)
Innovation – can also be the improvement of existing products, processes or services etc.
Top spenders in R&D – P99How should this be
Innovations of Australia - http://www.bbc.co.uk/news/magazine-20071644
Kerboodle – Innovation Case Study: How 3M do it!AQA Question Sheet