Creating an Innovative R & D Policy

In today's extremely competitive business environment resulting from intense globalization, pressures to innovate confront enterprises with a demanding act. In fact, what is required is much more than mastering the latest technology. The ability to capitalize on new inventions also calls for effective translation of innovation into successful products in the market place. The traditional linear, sequential product development model of research, engineering, design, manufacturing, marketing, sales, and services are no longer sufficiently effective. Because much of the impetus for technological innovation is found in R&D, it has been often argued that the management of innovation and of R&D represents the most crucial challenge. Thus, this paper proposes a model involving several aspects. First, employees joining the R&D function should be screened for their creativity and innovativeness. Second, the new hires should participate in regular action-learning workshops. Third, a non-linear management organization should be implemented consistently with the corporate culture. Such a model will substantially contribute to a more effective use of the company's technological resources.