The business world is always changing. Alongside the normal competition for customers and new revenue, today’s world has seen unprecedented disruption in industries and economies across the globe. From tariff wars to natural disasters to COVID-19, companies have had to scramble to shore up existing product lines and introduce new products and services to stay …
The payback on R&D efforts is not a linear relationship relative to revenue. In many cases, it may take years to see results just for the viability of a new product or service, much less profitability. And it is not uncommon for those years to see no results at all resulting in a loss on …
In today’s hyper-competitive world, new products and new services are paramount to a company’s survival. But except for some commodified process manufacturing industry segments with narrow product portfolios, the R&D involved in developing new products can be expensive. Data from as recently as 2018 show that R&D spending was around $2 trillion USD. And of …
Business innovation is a hot topic these days, especially in the age of disruptive forces such as the COVID-19 virus. This latest disruption has impacted small and medium sized manufacturers, startups, and entrepreneurs. And many are looking for new products, services, partnerships, and business models to hang on to for survival, or to take advantage …
