R & D : Business Strategy

1320 Words Apr 25th, 2016 6 Pages
Introduction

In this essay, it explores the understanding and importance of R&D, business strategy and their links. Organizations discover it progressively hard to meet their development targets and should search for new arrangements that can bring them extra income. In business, R&D is very critical for marketing and competition has made R&D important, by keeping up with consumers’ trends, needs and demands. Research and development would be a suitable tool in the competitive market. We frequently see that R&D is not adjusted to the companies general Business strategy. R&D department is commonly found in larger companies, which helps them create an innovative product, operational improvements and increments in profitability (Pereira, 2013). While R&D work can be instrument for making new products or improving old products. Research and development is associated with marketing and different parts of business strategy. The key reason to implement R&D in a business strategy is to give backing to the current business by keeping business competitive and supporting their efficiencies for long term advantages.

Business Strategy

Business strategy is basically the means by which is sets out its organizational goals. It is an outflow on how a business needs to progress over time to meet its objectives along with assessments for what needs to be done (“Business strategy | Business Case studies”, 2016). The basic purpose of business strategy is review the function that are…

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