Research and Development Role in Innovation Management
Research and Development plays a critical role in the innovation process. Essentially, Research and Development transforms investments in new ideas and insights into new technologies, products, processes and services.
In any industry, particularly in the technology sectors, Research and Development is an essential component and a key factor in developing lasting competitive advantages.
Research and Development Role in Innovation Management:
- Collect, develop and manage product improvement ideas, suggestions and feedback from internal and external participants
- Assess the feasibility, technical risk, and potential side effects of every innovation from a Research and Development perspective
- Systematically identify, discover and assess new technologies and how they potentially fit or compete with your current offerings
- Explore opportunities for process improvement and new efficiencies in product development and support areas of the business
- Develop a deeper understanding of what customers and other stakeholders wants and expect from R&D by involving them in the innovation process