Developing and Monetizing a Long Term Vision for R&D
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The goal of this ROR has been to discover best practices for establishing a long-term vision for R&D that is tied to business strategies and how to use this vision to influence the strategy and direction of the firm. The team’s hypothesis was that R&D leaders must often make investments that extend beyond the normal business planning cycle, however, insights to guide these longer term R&D investments are often challenging for organizations. While organizations may have many of the pieces needed to form a long-term vision – such as market trends, voice of the customer, and customer and market insights – they lack critical pieces that will inform and justify longer term investments. The team will report on how companies are filling those gaps in long-term insights and how they are bringing the pieces together to form a compelling vision and translating this vision into actionable steps to guide long term R&D strategy.