Professional Documents
Culture Documents
The research provides the needed information that guides managers to make
informed decisions to successfully deal with problems.
We must first understand what research is. It is another word for gathering of
information. The more information we have the closer we get of making our own
decision. Research is the result of advancing knowledge created in the past.
There are people from all walks of life that contribute to gathered information.
These are ordinary people and extraordinary people. They include, teachers,
students, scientists, professors, scholars, business owners, librarians, book
keepers, writers, politicians and many more unknown out there. These are
everyday citizens we interact with. They all help with the flow information that
people use for self help.
In conclusion research is very vital to our everyday decision making. It arms you
from wrong informations and save time and money. It is important to your
success as you take on life's challenges and career decisions making. But be
careful though, becasue too much research without action on what you' re
learning is not good either. The question is how much information is enough?
How much information can you afford? Information obesity can be research
problem just my advice. Research plus action will most likely guarantee a
successful research. Now go out there and make good decisions. I wish you
success. To learn more about taking charge of your future go to my resource
box at http://www.unlimited-mlmwealth-online.com Email: prince@unlimited-
mlmwealth-online.com cell: 612-363-7576
The phrase research and development (also R and D or, more often, R&D),
according to the Organization for Economic Co-operation and Development,
refers to "creative work undertaken on a systematic basis in order to increase the
stock of knowledge, including knowledge of man, culture and society, and the
use of this stock of knowledge to devise new applications".[1]
New product design and development is more often than not a crucial factor in
the survival of a company. In an industry that is changing fast, firms must
continually revise their design and range of products. This is necessary due to
continuous technology change and development as well as other competitors
and the changing preference of customers. Without an R&D program, the firm
must rely on strategic alliances, acquisitions, and networks to tap into the
innovations of others.
A system driven by marketing is one that puts the customer needs first, and only
produces goods that are known to sell. Market research is carried out, which
establishes what is needed. If the development is technology driven then it is a
matter of selling what it is possible to make. The product range is developed so
that production processes are as efficient as possible and the products are
technically superior, hence possessing a natural advantage in the market place.
R&D has a special economic significance apart from its conventional association
with scientific and technological development. R&D investment generally reflects
a government's or organization's willingness to forgo current operations or profit
to improve future performance or returns, and its abilities to conduct research
and development.
The top eight spenders in terms of percentage of GDP were Israel (4.53%),
Sweden (3.73%), Finland (3.45%) Japan (3.39%), South Korea (3.23%),
Switzerland (2.9%), Iceland (2.78%) and United States (2.62%).[2] The
Commitment to Development Index ranks these countries, rewarding them for
research and development that support the creation and dissemination of
innovations of value to developing countries.
In the U.S., a typical ratio of research and development for an industrial company
is about 3.5% of revenues. A high technology company such as a computer
manufacturer might spend 7%. Although Allergan (a biotech company) tops the
spending table 43.4% investment, anything over 15% is remarkable and usually
gains a reputation for being a high technology company. Companies in this
category include pharmaceutical companies such as Merck & Co. (14.1%) or
Novartis (15.1%), and engineering companies like Ericsson (24.9%).[3] Such
companies are often seen as poor credit risks because their spending ratios are
so unusual.
Generally such firms prosper only in markets whose customers have extreme
needs, such as medicine, scientific instruments, safety-critical mechanisms
(aircraft) or high technology military armaments. The extreme needs justify the
high risk of failure and consequently high gross margins from 60% to 90% of
revenues. That is, gross profits will be as much as 90% of the sales cost, with
manufacturing costing only 10% of the product price, because so many individual
projects yield no exploitable product. Most industrial companies get only 40%
revenues.
Research has shown that firms with a persistent R&D strategy outperform those
with an irregular or no R&D investment programme.
There are alternative processes that work successfully, and there are processes
that are a dismal failure.
The most successful are by entrepreneurs who start with a good understanding
of a rather focused market. They get ideas that might be called "a better
mousetrap" something that will work better than what the industry is now doing,
or which will make more money for the people involved.
After getting the idea, they next patent protect their idea, then they hire
professionals to implement the idea. The professionals sign documents
promising to keep everything a secret, because in today's world, millions of
people are seeing the same stuff, thousands are getting ideas how to improve it.
The person, who makes the money, is the one who implements the ideas the
fastest.
Research Objectives
Classifications of Research
It is, however, structured and does not yield the reasons behind behavior or why
people hold certain attitudes. Techniques commonly used in HE/FE include
postal surveys (particularly appropriate in the case of student populations where
name and address information is available), telephone surveys (appropriate for
surveys of employers), on-line or web-based surveys (very cost-effective for
reaching audiences where e-mail penetration is high, such as students and
university/college staff) and mystery shopping (in this case to test quantifiable
aspects of the service).
• Human Resources - ensures the business has the best staff for the job and that
they are able to work effectively in a safe environment;
• Finance - will keep a record of all money coming in and going out of the business.
They have responsibility for securing finances for future expansion and paying
staff and suppliers;
• Administration and ICT support - ensure the smooth running of the business on a
day-to-day basis. They have responsibility for clerical duties, cleaning, computer
and software support, security and health and safety;
• Operations - have the task of producing the goods or service in the most efficient
way. This is done by making best use of the business's staff, machinery, building
and raw materials;
• marketing and sales - will try and maximize the level of sales by carrying out
market research and promoting the goods or service through a motivated sales
team;
• Customer Service - will help the customer before and after a sale has been made
by providing information, giving advice, providing credit facilities, delivering
goods and providing after-sales support;