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Research And Development - Bus - Research Paper

Research And Development - Bus

Research and development is an important process for business today. Consumers needs and wants are always changing and so it is vital for the business to meet these demands with R&D to hopefully exceed customer expectations. It is also important for businesses to keep with advances such and technological and medical. Otherwise they will be left behind in the competition.
As before, R&D is very important and relies on market research information. After the research the company has to have good confidence that the product is fit for sale before they produce it. If not, they will lose money due to the large cost of production. The product specifications vary depending on consumer needs, ...

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this they must calculate their costs and make sure they can do the above without getting into debts from the costs they produce. The businesses labs keep links between the universities so that they can exchange research findings which they may be able to put into practise by incorporating the new technology in their products possibly to create something innovative. It also can save time and unwanted investment.

R&D must consider factors outside it’s research department in the external environment. When designing a product the designers must look into the legal requirements of their product and see whether or not they comply. Not only may that put the company at risk of receiving a court case but also give the company a bad reputation, which may lead to decreasing sales figures. Also Safety regulations must be considered or the same thing could happen as stated before.

Apart from all the factors mentioned above the main factor that research and development relies on ...

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Research And Development - Bus. (2004, March 30). Retrieved April 18, 2024, from http://www.essayworld.com/essays/Research-And-Development-Bus/5445

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PAPER DETAILS

Added: 3/30/2004 06:11:37 PM
Category: Miscellaneous
Type: Premium Paper
Words: 642
Pages: 3

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