Chapter Sixteen. Research and Development
Research and development is like boat ownership: It is a hole in the budget into which one throws money and that may in the future yield some favorable results. The reality is that R&D is very much dependent on the type of company you are running and the type of market you are in. There are essentially three different approaches to products or service:
Be the Leading-Edge Innovator
If a company is an innovator and its business strategy is based on innovation, it is very difficult to modify that structure without seriously modifying its customer base and its approach to the market.
Being an innovator carries the ability ...
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