Clark Nevada Possible Research and Development Strategies
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Research and Development (R&D) is the major force that defines the appropriate time for implementing strategies. Organizations depend on their R&D department for the creation of new products and the improvement of old products, to increase profitability and support the firms' growth.
Research and Development Issues Three major R&D approaches to implementing strategies. First firm to market new technological products. Innovative imitator of successful products. Low-cost producer of similar but less expensive products.
The "game plan" for an R&D organization can be broken down into 4 strategic levers: architecture, processes, people, and portfolio. Together, decisions made in each of these categories constitute the R&D strategy.
Strategic development can be likened to setting goals to ensure that an organization flourishes. Developing an effective strategy is dependent on roles, departments and organizational ambitions. Companies must carefully consider the direction they want their business to operate.
Research and development activities focus on the innovation of new products or services in a company. Among the primary purposes of R&D activities is for a company to remain competitive as it produces products that advance and elevate its current product line.
Strategic Pressures on R&D Strategic Pressures on R&D can be internal or external. Internal factors that impact R&D include resource mobilization, competency development, allocation of resources and prioritisation, effective execution of projects, and fast conversation of ideas into product or service.
Strategy Development Techniques and Best Practices Understand the current position. Reflect on how you got there. Be clear about your corporate identity (mission, vision and values) Analyse your strengths and weaknesses. Analyse the business environment. Identify and evaluate strategic options. Set objectives.
Research and Development (R&D) Issues Research and development (R&D) management can plays part in strategy implementation. New products and improvement of existing products that allow for effective strategy implementation OR. New products and improvement of existing products that allow for effective strategy.
