In the context of a rapidly changing global economy, shifting customer demands and expectations, and intense competition from rivals, research and development (R&D) has become a key success factor for most major corporations worldwide. It is also a critical element enabling small and medium-sized enterprises—especially technology-based firms—to survive and grow. Unlike most other business functions, R&D is not aimed at immediate profitability and is often accompanied by risks and uncertainty in terms of return on investment. However, R&D is a core component that allows companies to survive and thrive by creating new products and attracting and retaining customers.
Therefore, this course equips learners with knowledge of the role, processes, drivers, types, and components of R&D activities; and provides a foundation for learners to approach the methods and tools necessary to effectively integrate R&D with business operations, innovation activities, and functional areas within the enterprise.