UB is the consultancy firm which deals with the research based on development which will play a critical role in the innovation process. It’s essentially an investment in technology and future capabilities which is transformed into new products, processes, and services.
Research and Development are common in many small and larger companies, especially those working with newer products or technologies subject to important shifts. While research and development work can be instrumental in creating new products or adding features to old products, the work that the company does is more complex than simple innovation. R&D is connected to marketing, cost management and other parts of business strategy.
It is the R&D function that provides a platform for creativity and innovation to flourish in an organization. Innovative breakthroughs have happened only because of painstaking efforts of the R&D function. Perseverance efforts are needed when one is in pursuit of research. Every failure in a R&D effort increases the pressure to perform. R&D helps a business to have a competitive edge over its competitors. It is the R&D function that develops plans much ahead other functions. The R&D function needs to have a clear foresight about future problems that need solutions. R&D (in its development role) can act as a catalyst for speeding up the growth of organization by way of introducing breakthrough products in the market.