R&D Business Plan

R&D Business Plan-73
In a global market where product life cycles and new product development lead times are continually shrinking, companies must get smarter at innovation in order to survive and succeed.This is a challenging, complex and time consuming process for any R&D technology company: With R&D technology companies, there is rarely a shortage of ideas, just a shortage of management time, funding and resource and often a lack of knowledge of how to benefit from the various research and development funding /tax programmes that are available.In the dynamic, fast moving markets in which R&D technology companies operate, strategies have to be continually updated in order to remain competitive.

In a global market where product life cycles and new product development lead times are continually shrinking, companies must get smarter at innovation in order to survive and succeed.This is a challenging, complex and time consuming process for any R&D technology company: With R&D technology companies, there is rarely a shortage of ideas, just a shortage of management time, funding and resource and often a lack of knowledge of how to benefit from the various research and development funding /tax programmes that are available.In the dynamic, fast moving markets in which R&D technology companies operate, strategies have to be continually updated in order to remain competitive.

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Our knowledge and experience of the R&D process is unrivalled.In general, research and development activities are conducted by specialized units or centers belonging to a company, or can be out-sourced to a contract research organization, universities, or state agencies.In the context of commerce, "research and development" normally refers to future-oriented, longer-term activities in science or technology, using similar techniques to scientific research but directed toward desired outcomes and with broad forecasts of commercial yield.However R&D is crucial for acquiring larger shares of the market through the marketisation of new products.New product design and development is often a crucial factor in the survival of a company.MSC R&D’s Strategic Mentoring Programme has been designed to allow companies ongoing access to MSC R&D’s knowledge of the Research & Development funding and R&D tax relief expertise through engaging with one of our lead consultants on a regular basis.Under the Mentoring Programme, MSC R&D would become ‘part’ of your management team, using our broad market knowledge to advise and guide as required, and being able to prioritise and fast track identified client requirements in terms of innovation planning, resourcing and funding.Market research is carried out, which establishes the needs of consumers and the potential niche market of a new product.If the development is technology driven, R&D is directed toward developing products to meet the unmet needs.That is, gross profits will be as much as 90% of the sales cost, with manufacturing costing only 10% of the product price, because so many individual projects yield no exploitable product. Research and development are very difficult to manage, since the defining feature of research is that the researchers do not know in advance exactly how to accomplish the desired result.As a result, "higher R&D spending does not guarantee more creativity, higher profit or a greater market share".

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