vital ingredients for the recipe of innovation, and for
successful R&D; innovation is the only prima facie. organizational growth by introducing breakthrough
products in the market.
When a company takes R&D into significant consideration,
they get a huge influx of knowledge. This is what makes
these companies so amazingly successful, their contribution
to R&D melts down to a world of useful knowledge which
the company can use to further develop its main product
lines. The Key to Everything is Patience, you get Chicken by
Hatching it, not by Smashing it.
– Arnold H.Glasow
R&D helps a business to have a competitive edge over its
competitors. It is only the R&D function that helps
organizations develop plans much ahead than other
functions. The R&D function requires a clear foresight
about future problems and its solutions, in its development
role, it can act as a catalyst for speeding up the
| JULY 2017
The R&D efforts can take some time to materialize, but
once they succeed, the financial returns can be quite high.
Many successful companies in industry sectors like
pharmaceuticals, chemical and automotive, invest a
substantial amount of capital expenditure and strive to be
ahead of others because they believe; expenses on R&D are
not to be considered as expenditure but as an investment.
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