Research and Development
The purpose of this chapter is to consider in detail the factors which should influence the investment of a firm in research and development (R & D). A brief introductory section considers the relationship of such expenditure to the strategic planning of the firm. Subsequently a number of problems peculiar to R & D are elicited and certain principles emerge. The R & D process is then considered in more specific terms and particular attention is directed to classification and evaluation procedures. Consistency in the evaluation procedures, at varying points in time, is emphasised and the use of alternative models to facilitate this objective is discussed.
KeywordsPlanning Period Payback Period Chance Constraint Marketing Programme Discount Cash Flow
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