How Important is Research & Development for WeP as a business.
To deal with the competition out there SMEs are now-a-days giving a very high level of performance. In this context, the way how you manage the R&D activities is a key factor for achieving greater heights in future. R&D will help a company to increase it's knowledge & develop better products with innovations. Specially when you are into technology driven products R&D is the crucial component of innovation & future growth. Being in the business world you must have heard about the product life cycle(PLC). When you come with a new product in the market it will be first launched this is the introduction stage. Then comes Growth stage where you have good feedbacks on your product & will required changes your product is in the best part of the cycle. But once it reaches to maturity stage, you should always try to improve your product not to reach the decline stage. Many big brands has done this mistake like Nokia. ...