In it they mention how government funding has been increasing for R&D to small and medium enterprises and venture capitalists have also recognized the importance of these smaller entries. ![]() The OECD released a book called Science, Technology and Innovation: Implications for Growth. What About Small and Medium Business?Ĭompanies like Intel have billions to spend on R&D but most smaller businesses do not have the same capabilities. R&D exists to gain knowledge, not as an entity in itself. R&D really is that important – note that it is merely a tool (and an expensive one at that). This is what makes Intel so amazingly successful: Their R&D all boils down to useful knowledge that the company can use to further develop its main product lines. When a company takes the time to invest in R&D they get a huge influx of knowledge. R&D directly supports the development of both of these things (depending on your industry but certainly the former of the two). Remember back to the article on the recipe for innovation? One of those ingredients was knowledge, another technology. Where Intel releases products and people are delighted, competitors like AMD release theirs to not quite the same surprise. The truth is that with their massive investment in R&D and never ending ability to ship new and better product other companies simply cannot keep up. Intel regularly blows away their competition. This is fancy computer engineer speak for the fact that each year they modify one of two things that are critically important for the speed and power of microprocessors. Through something called Tick-tock, an alternating system of innovation ( ) which uses microarchitecture innovation and process innovation to continually drive ahead. What happened in 2006? Intel greatly sped up its product lifecycle process. This absolutely massive company entered the market with a bang, slid back slightly in the early 2000s but from 2006 onward has been doing spectacular. When it comes to R&D and innovation Intel is the holy grail company. ![]() If you want a great example of an innovative firm… Look No Further Than Intel ![]() One company in particular has devoted itself to R&D and as a result constantly soars ahead of its competition. In industry and technology sectors R&D is a crucial component of innovation and a key factor in developing new competitive advantages (Heneric, Licht, and Gofka in Europe’s Automative Industry On The Move: Competitiveness In A Changing World).
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