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RESEARCH AND DEVELOPMENT (BASIC PROCESS (FOSTER IDEAS, FOCUS IDEAS,…
RESEARCH AND DEVELOPMENT
TYPES OF R&D
BASIC RESEARCH
APPLIED RESEARCH
DEVELOPMENT
SIMILAR TERMINOLOGY
INNOVATION
NEW PRODUCT DEVELOPMENT
DESIGN
PRODUCT DESIGN
R&D DECISION
PATENTS
TIMING
RISK
COSTS
BASIC PROCESS
FOSTER IDEAS
FOCUS IDEAS
DEVELOP IDEAS
PROTOTYPES AND TRIALS
REGULATORY, MARKETING, & PRODUCT DEVELOPMENT ACTIVITIES
LAUNCH
EFFECTIVE PROCESS
ASSESS CUSTOMER NEEDS
IDENTIFY OBJECTIVES
DEFINE AND DESIGN PROCESSES
CREATE A TEAM
OUTSOURCE
ADVANTAGES
COULD IMPROVE MANUFACTURING EFFICIENCY
ATTRACTS INVESTOR
ATTRACT NEW EMPLOYEE
COULD ACQUIRE PATENT FOR CERTAIN PRODUCTS
RELEVANT PRODUCTS
CHALLENGES
HIGH COSTS
MAY TAKE MANY YEARS FOR THE ACTUAL PRODUCT TO REACH THE MARKET
UNCERTAIN RESULTS
UNCERTAIN MARKET CONDITION
PURPOSES
ACHIEVING FUTURE GROWTH AND MAINTAINING A RELEVANT PRODUCT IN THE MARKET
IMPROVE MANUFACTURING EFFICIENCY