Question

How is research and development more cost effective for a business?

Answer 1

Research and development are common in larger companies. R&D is important for introducing a new product in the market and also to adding new features to an old product. R&D is connected to marketing , cost management and other parts of business strategy.

If a company has great talented employees then they can produce or by doing research employees can produce a cost effective product. If a R& D department not receive so much money but with this less money as compared to other competitors in the market they are able to produce a good which has good quality in the market , it is cost effective for the company.

Even if a company can recover the money spent on R & D if product has high quality and can earn high volume of profits.

If with the changes made to an old product R & D would find out ghat if the implementation of new features is cost effective only then it would be imposed and new features are added .

Employees who work in R & D plays in important role in cost effective of business product. It would be beneficial only if company produces high standards product at lower cost as compred to competitors in the market.