Abstract

The article cites nine practical steps to follow if one wants his company's research and development program to be more productive. Within recent years, research has been fast becoming a basic economic necessity. Its increasing necessity has been dictated by the prevailing characteristics of the economic system, characteristics which have teamed up to cause a rather steady pressure on business profits. The most influential of these characteristics are a growing competitiveness, steadily rising costs and shortening product life cycles. It is no coincidence, then, that much industrial research is aimed directly at overcoming these unwelcome business influences. For example, the major purpose of research among manufacturing industries is to generate new products where the profit margins will be greater over longer periods because of accruing competitive advantages. Another primary purpose of research is to improve present products, often described as defensive research. This is research primarily aimed at maintaining or improving market position. The third purpose is to develop new or improved processes, with the intent of reducing costs or improving productive effectiveness.