Introduction to R&D Management

Orestis Georgiou, Mykola Maksymenko and Stephen Russo
Additional contact information
Orestis Georgiou: Ultraleap Ltd.
Mykola Maksymenko: Haiqu Inc.
Stephen Russo: Honeywell Building Automation Inc.

Chapter 2 in R&D Management and Technology Commercialization, 2025, pp 7-10 from Springer

Abstract: Abstract This chapter explores the foundational vision behind innovation, emphasizing the dual themes of ambition and perseverance that drive R&D. It delves into the transition from ideas to impactful solutions, highlighting the interplay between researchers seeking answers and innovators commercializing breakthroughs. Using historical examples such as Leonardo da Vinci’s designs and the industrial revolution, the chapter illustrates how vision, flexibility, and creativity have propelled society forward. It also examines the challenges of managing R&D, particularly its speculative nature, high costs, and uncertain returns, contrasting the approaches of large enterprises, start-ups, and academia. Regardless of scale, effective R&D management is presented as a critical determinant of success, enabling businesses to navigate risks, drive innovation, and achieve competitive advantage. The chapter concludes by underscoring the societal and economic importance of well-managed R&D, with examples ranging from healthcare advancements to safer transportation and global connectivity.

Keywords: Innovation drivers; Strategy; R&D uncertainty; Business integration (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-86789-7_2

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DOI: 10.1007/978-3-031-86789-7_2

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