While traditional factors like low costs, powerful branding, and strong customer service have historically helped organizations create a competitive advantage, maintaining that is a different challenge. Thanks to globalization, today’s world continues to move faster, and consumers are faced with more options than ever. Building long-lasting business success requires organizations to adapt to change and keep up to date with the pace of innovation. Thus, a true deep-routed competitive advantage can be found through valuable research and development (R&D) investment.
The importance of R&D for organizations, economies and development
From the introduction of smartphones and cloud computing to the development of…
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