We often hear about the presence of an R&D team within a company to support product development. This Research and Development team conducts structured research backed by strong data and insights to identify opportunities for efficient and effective innovation.
The R&D team typically collaborates with the sales, marketing, and production departments, as these divisions are directly involved in product creation and development. When broken down, the key responsibilities of an R&D team include:
Strategically, having an R&D team helps companies avoid time-consuming trial and error during product creation and development. This makes the entire process more efficient and effective, producing optimal results.
Before deciding to establish an R&D team, make sure you clearly understand your company’s needs. That way, the presence of the R&D team can deliver benefits that are more targeted, relevant, and impactful—both for product development and operational efficiency.