Date Added: Sep 2009
During a recession, companies cut to the bone to survive. But one thing they should never blindly cut is research and development (R&D). "When the recovery comes, those who have wisely invested in R&D will have a competitive edge," maintains the author. The author says executives must view R&D as an investment and not a cost, adds enterprises need to learn how improve their R&D processes to make them more productive, especially in a recession. He says, "New product development (NPD) is a problem-solving activity that requires a lot of experience, and so there are lots of opportunities for improvements".