R&D as the Innovation Center

Abstract

In plain financial terms, departments are viewed as either profit centers or cost centers. The former generate revenues, while the latter only do so indirectly. Sales and marketing are typical examples of profit centers. R&D and engineering are often counted as cost centers. My premise is that by accepting this viewpoint, you will be losing out on substantial gains. In this chapter, you will learn how to make innovation an integral part of your organization. Doing so will unlock business opportunities, market-leading edges, and, ultimately, profits.