Abstract
Research and development expenditures by American industry are increasing; yet the percentage of successful new products marketed is still low and product failures common. What are some factors that explain this relationship? What can be done by management to improve the R&D payoff?
The authors offer three managerial perspectives that might become an integral part of corporate policy concerning organization, executive behavior, product analysis, and planning in the important area of integrating R&D and new product development.
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