What is research and development strategy ? Explain need and formulation of research and development strategy in organisation?
Answers
The need to develop or improve products and production processes is met by the research and development (R&D) function. Figure 2-7 outlines several questions that need to be considered in developing an R&D strategy.
The most important research and development strategy issue concerns the relationship of R&D to corporate strategy. The more important innovation is to the strategy of the organization, the more implementation will require consideration of strategic issue in R&D.
Moreover, if R&D is part of an aggressive new product development strategy, a series of decisions logically follow from such a link, including funding levels, project selection decisions, and the structure for R&D. If R&D is used primarily for process improvement, the decisions are more conservative.