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Lesson aims
Lesson aims
- Evaluate the importance of research and development for a business
- Explain the importance of developing products and services that address customers' unmet needs
- Distinguish between different types of innovation
- Distinguish between adaptive and innovative creativity
- Examine how pace change may influence research and development practices and strategies in an organisation
Research and development is the systematic process of developing new ideas and processes that may be turned into future products.
U5.6 Research and development (HL).pptxImportance of R&D
Importance of R&D
Task
Task
- Is R&S only important for large businesses? Why?
- How can you link R&D and the Ansoff matrix?
- How can you link R&D and the BCG matrix?
- What are the changes that push businesses to invest in a lot of research and development?
- The Supersonic Hairdryer is Dyson's first beauty product. Which section of Ansoff's matrix does this product relate to?
- Evaluate the long and short-term consequences of Dyson investing heavily in research and development.
Benefits of R&D
- Growth - open up new markets
- A unique selling point (USP)
- Improved brand image - prestige
- Lower production costs
- Competitive advantage
- Extend life of existing product
- Motivate the workforce
- Improved product quality
Costs of R&D
- High costs - budgetary constraints
- Time consuming - can become bureaucratic and unproductive
- Opportunity cost, what else could you do with the money spent on R&D
- Might go in wrong direction, no guarantee of market for new product - high failure rate
- Ethical issues
Watch from 9:08 until 11:02
Factors affecting R&D
Factors affecting R&D
- Pace of change within the industry
- Organisational culture
- Ethical considerations
Task
Task
- Which are the 10 most innovative companies today.
- Which are the 10 companies with the highest R&D budgets.
- Which sectors do they operate in?
- Where are they based?
- What are the changes that push businesses to invest in a lot of research and development?
- How has research and development been impacted by ethical considerations?
Types of innovation
Types of innovation
- Product Innovation - developing and improving existing products.
- Process Innovation - developing new methods of production or product delivery.
- Positioning Innovation - occurs when a product is marketed to a new target audience.
- Paradigm Innovation - can change an entire industry.
- Incremental Innovation
- Radical Innovation
Types of creativity
Types of creativity
Innovative creativity
The process of creating something completely new.
Adaptive creativity
Changing or improving something that already exists.
Task
Task
- What contributes more to positive changes in our world: adaptive creativity or innovative creativity?
Marketing aspects of R&D
Marketing aspects of R&D
- Copyrights
- Trademarks
- Patents
Google Sites
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