Company R&D: Does it add value to the bottom line?

Company R&D can add value to the bottom line if it is focused. Every project needs a goal. The goals can be long-term, but they need to be present to focus the energy and resources on solving problems that matter. To achieve this focus, companies must develop strategies that take advantage of their technical competence. They must design processes that will link their internal capabilities to the needs of their internal market and also to external capabilities. They must build an organization around those processes that will enable it to function efficiently and effectively. When this is complete, they can fill the organization with the resources needed to meet the current and future demands.