Strategic R&D Planning Process
If you have a successful product or product line in the market, chances are you are facing the age-old challenge of how to optimally apply your R&D budget to meet your business goals. As the product ages, competitors emerge, manufacturing becomes tough as components become harder to find, and new technologies become available that can enhance functionality and cost. When do you incrementally improve your existing products and when do you develop replacements? This brief paper will propose a technique that can be used to address this opportunity. With the application of some [applied] design thinking, the path to success becomes clear.
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