What is Research and Development?
The goal of R&D is solving complex problems using cutting-edge knowledge that applies to business needs which may result in the development of new products and solutions that will make the organization more competitive on the market. R&D isn’t just about creating new products, it also involves researching new ways of doing things and adding new features.
What is sustained innovation?
Having in mind that innovation involves the exploration of unknown technologies and business problems that have never been solved before, it is not surprising that tolerance for failure is an important characteristic of innovative companies. We have seen the biggest innovators fail: recall Apple’s MobileMe, Google Glass, and the Amazon Fire Phone. But tolerance for failure does not mean they do tolerate incompetence.
Moreover, a willingness to experiment does not mean working without any rules. Without discipline almost any initiative can be justified as an experiment. Discipline-oriented teams select experiments carefully looking at criteria such as their potential learning value and the potential of the technology to become the next big thing.
True innovation can be considered a sweet spot where it is psychologically safe, but requires putting in 120% of effort to ensure the success of the experiment.
Looking from the people perspective, R&D initiatives are a team effort, but there needs to be individual accountability to ensure the goals of the experiment are met.
Why do you need research and development as a service (RnDaaS)?
By outsourcing research and development services, you can reduce your costs in a number of ways. You do not need to engage in recruitment and there is no staff to maintain and retrain, hence no ongoing costs. Instead, you are engaging a team of experts in the field.
When you come up with an idea, there is no new-recruit (or training) delay. The time-to-market is also reduced due to significant experience, which means a lower risk of failure for your initiative.
Our existing team and infrastructure will allow you to focus on business value and delivering working products. While engaging in development innovation sprints, there should always be a deliverable at the end of each sprint which mitigates the risk of failure.
Are Research and Development something for your business?
Some companies consider R&D projects as uncertain initiatives and find it difficult to justify spending their resources on setting up labs and infrastructure for R&D. Others, when facing a complex business problem, need a little push in the right direction to ensure that the problem can be solved with technology.