research and development strategies

R&D Meaning, approaches of strategic implementation, types of R&D, types of human resource strategies, strategic role of human resource maagement

1. RESEARCH AND DEVELOPMENT STRATEGIES Submitted by: Akshara Mahesh

2. RESEARCH AND DEVELOPMENT – Meaning Research refers to market research and development mean development of a new product. A work which is directed towards the innovation, introduction and improvement of products and processes. R&D spending helps identify new products, new users for existing products and new methods for making products. Research and development is necessary so as to face the challenges or threats kept forth by the competitors and to meet the changing preferences of their customers.

3. Market research is carried out for development of new products or technologies to meet the unmet needs of customers. Research and development personnel can play an integral part in strategy implementation. Organizations use R&D strategy that ties external opportunities to internal strengths and is linked with objectives.

4. Research and development approaches for strategic implementation: The first strategy is to be the first firm to market new technological products. The second is to be an innovative imitator of successful products, thus minimizing the risk and cost of start-up. The third strategy is to be a low-cost producer by mass-producing products similar to but less expensive than products recently introduced.

5. Types of Research and development: Basic Research: When research aims to understand a subject matter more completely and build on the body of knowledge relating to it and formulate theory. it is not solution oriented and based on general theories and its improvisation and development.   Example: research in the field of pure mathematics or natural phenomenon, A mathematician could publish a new theory or theorem with no application in mind. Applied Research: Applied research has more specific and directed objectives.  It aims at finding a solution for a problem facing a society or an industrial organization. It takes the form of social survey. example: treat or cure of a specific disease , immediate fall in the sale of products of an organization.

6.  3. Development: Development is when findings of a research are utilized for the production of specific products including materials, systems and methods. Development is research that generates requisite knowledge and designs for production and converts them. Example of research and development strategy: When Bausch & Lomb became aware that its principal competitors were almost a year ahead in developing the new lenses, management made R & D a top priority item. As a result, the company made several scientific breakthroughs, shortened the time required to introduce new products and greatly enhanced both total sales and profits- and all with a smaller workforce than the company used to employ.

7. HUMAN RESOURCE STRATEGIES

8. Strategy and Human Resource Management: The department of a business or an organization that deals with hiring, administration and training of staff :-Human Resource An effective human resource strategy includes the way in which the organization plans to develop its employees and provide them suitable opportunities and better working conditions. This implies selecting the best available personnel, retaining, motivating and empowering employees to perform well in direction of corporate objectives. For this strategic focus should be given in the following points: ♦ Pre-selection practices including human resource planning and job analysis. Identify vacancy and evaluate need. develop positing description, develop recruitment plan, review applicants and short list.

9. ♦ Selection practices meant to staff various positions in the organization. Through process such as:- tests, interviews, background examination, checking references etc. ♦ Post-selection practices to maintain and improve the workers job performance levels. Human Resources decisions related to training and development, performance appraisal, compensation and motivation should be based on corporate strategy of the organization Types of human resource strategies Overarching HR strategies: Overarching strategies describe the general intentions of the organization about how people should be managed and developed, what steps should be taken to ensure that HRM processes the organization can attract and retain the people it needs, and ensure so far as possible that employees are committed, motivated and engaged

10. Specific HR strategies: Specific HR strategies set out what the organization intends to do in areas such as: Talent management - how the organization intends to 'win the war for talent'. How well they are able to manage the talented or skilled employees. Continuous improvement – leads to leadership development, better teamwork, reducing turnover etc. Knowledge management - creating, acquiring, capturing, sharing and using, managing knowledge to enhance learning and performance and there by achieve organizational objectives. Resourcing - attracting and retaining high quality people. This is done through recruitment and selection processes.

11. Employee relations - defining the intentions of the organization about what needs to be done and what needs are to be changed is the ways in which the organization manages its relationships with employees and their trade unions. Reward management – formulation of policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

12. Strategic Role of Human Resource Management: 1. Providing purposeful direction: The human resource management must be able to lead people and the organization towards the desired direction involving people right from the beginning.. 2 . Diversion of workforce: . Workforce diversity can be observed in terms of male and female workers, young and old workers, educated and uneducated workers, unskilled and professional Employee, different castes, religious and nationalities. 3. Empowerment of human resources: Empowerment means authorizing every member of a society or organization to take of his/her own destiny realizing his/her full potential.

13. 4 . Development of works ethics and culture: A vibrant work culture will have to be developed in the organizations to create an atmosphere of trust among people and to encourage creative ideas by the people.

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