The software mega-mind Bill Gates once pointed out an essential fact about software companies that seems to be a perennial vital aspect for years to come:
“I believe in innovation and that the way you get innovation is you fund research and you learn the basic facts”
Till this day, this fits so perfectly that the complete profit and revenue outcome from an organization, irrespective of being a business or a service provider, relies on this one aspect entirely. This concept is known as Research and Development, shortly abbreviated as R&D. The basic structure that formulates as the strategic planning of an organization comes from the core learning of insights developed from a robust R&D.
A funny yet a pivotal true incident will enlighten further the importance of R&D to all kinds of organizations that are running till this present day. A construction company in the United States had been commissioned for building a bridge for better and faster commuting options during the busy hours of daily traffic. Due to the complete absence of R&D, the bridge that was constructed collapsed in its first trial session only!
Imagine the massive amount of labor and toil that has been put to in constructing this massive bridge, which crumbled into pathetic shambles of ruins in its initial trial phase only. And, all this was only because of an acute deficiency in R&D. So if lack of R&D can make bridges collapse pathetically, see in your mind’s eye how disastrous it could be for your organization’s present and future circumstances.
The wholesome research and development process broadly contributes in two-phase stages; these are namely Sustained Development Phase and Disruptive Development Phase. Let’s dig in deep into these two concepts:
Sustained Development Phase
Sustained Development comes under a broad definition that highlights its aspects of being a long-term support system. The loop that continues into seeing the sustenance capacity and productivity growth after a certain software or product has been developed, is what this phase is executed for.
The necessity best understood by seasoned R&D experts to keep on the ignition of operating the research and development process is because of an emergent hour of enhancing the constructed software or product in this lightning-fast digital era of evolution. Sustained Development Phase also emphasizes and ensures productivity and less operational time to aid an organization work faster and better. There are few key points that determine the balanced and optimal running of an uber Sustained Development Phase:
Disruptive Development Phase
Disruptive Development Phase can be straightforwardly defined as an R&D process that is formulated from an out of the box thinking route. It enforces on a requirement which brings a potential change in the present technologies thereby leading to the creation of new business verticals. The R&D technique via Disruptive Development Phase attempts to reproduce unconventional, ground-breaking technology that can reverse the on-going process in a revolutionary way.
The Crux in Understanding the Importance of R&D in Organizations
The importance of understanding the essential requirement to invest in R&D has reached a fever pitch. Before you rush into investing bulk amounts of finance into hiring software developers and marketing professionals, it is foremost necessary to start off with the most rudimentary grounds. A wholesome R&D is what boosts from the embryonic stages for running a successful project in the latter half of the development phase.
The following reasons suitably justify the quintessence of investing in R&D:
1) The other appropriate phrase that fits perfectly with R&D is finding and creating innovations. A full, in-depth R&D helps you to locate inspiring ideas and ignites the rekindled thoughts that might have been submerged before this day.
2) Targeting cost-cutting, effective marketing strategies formulation, increased market participation, and new operational methods are possible only with the implementation of a hard-driven R&D.
3) To grasp a clutching grip on gaining knowledge to develop, designing, enhancing, and modifying company’s products, services, technologies, business plans, processes and sometimes vision, R&D stands out as the bedrock layer of the entire procedural system.
4) One of the most exciting and prospective outcomes of running a full-bodied research and development is that it welcomes market participation where finding and communicating with new customers helps to create brand recognition and also gives an easy access to increasing market share.
5) It is generally said that the more you work hard upon an activity, the more it becomes sharper and unique. Similarly, extra emphasis on research and development helps you to locate more potential opportunities that can be utilized for crafting innovative solutions that the other companies could not think about.
6) In today’s competitive market scenario, creating significance and an uproar of your brand’s existence has become way more difficult. Launching any new product or introducing a new feature without sufficient R&D can lead you to a lot of troubles like plagiarism of the launched service or product, low trending value, non-creative promotion campaign or minimal customer engagement. Thus, your entire module of marketing strategy sees a steeping downfall. To avoid such vulnerable circumstances that can cost your business’s stable future, proper and adequate R&D is inevitable and imperative to its core.
7) An expertised R&D aids businesses and organizations to pace ahead in the growth and revenue race due to backing up with a complete idea of the prevailing market trends and customers’ preferences. This also adds competitive advantages to organizations in order envisage opportunistic and favorable climates to launch their ripened ideas.
Therefore, this leaves no room for doubt that the benefits you shall procure from an effective R&D are innumerous. So before you rush into investing in other major heads that can be considered later, try investing in the research and development phase to witness a significant growth already picturing for the coming future. Doing so what becomes crucial here, is choosing the best management consultancy who will ensure the R&D investment worthy of its every penny spent.
Padrea Global Services ranks as one of the Best Management Consultants and Software Solutions globally. With expertise and experience of more than 4 decades, the pursuit of executing brilliant and effectual research and development processes has been seasoned in and out!
Padrea believes in conducting a wholesome R&D so that the final outcome becomes so advanced and risk-proof that nothing comes in the way to evade success and glory. Whether you are looking to start your business or grow it to the next level, Padrea as a management consultant and partner-in-growth looks after all growth needs at all stages.
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