Product development difficulties of the small manufacturer. - Page 66 |
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57 j
additional issues.
Schlaifer has pointed out that, contrary to a commonly
held opinion, new product development is not simply j
!
the systematic and completely rational application of I
advances in basic science, but the combination of engineer-!
ing ability and sufficient resources. 6^J Research and jI
development personnel cannot be measured in dollars alone, |
as their value may be much greater than their compensation.ji
The demand for top research people is keen. A company's '
research project may come out of development and into pro- '
jduction only to have another company's research produce a i .
(better or radically different product. Possibly there is ;
some safety in having several research projects under way <
at one time; a few failures would not be felt too much, but!
;Ione or two successes might not cover total research expend-:
itures. It is, therefore, apparent that the small firm in
the electro-mechanical field must rely on several factors: i! *| management organisation, finances, sales and distribution, j;
j and good technical ability. f !
: J. A. McFadden, Jr., has written an article that
!encompasses the over-all picture of product development. ; }IThis writing serves as an excellent summarisation to the I
review of the literature on product development:
^Schlaifer, oj>. cit.. p. 107.
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| Title | Product development difficulties of the small manufacturer. - Page 66 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | 57 j additional issues. Schlaifer has pointed out that, contrary to a commonly held opinion, new product development is not simply j ! the systematic and completely rational application of I advances in basic science, but the combination of engineer-! ing ability and sufficient resources. 6^J Research and jI development personnel cannot be measured in dollars alone, | as their value may be much greater than their compensation.ji The demand for top research people is keen. A company's ' research project may come out of development and into pro- ' jduction only to have another company's research produce a i . (better or radically different product. Possibly there is ; some safety in having several research projects under way < at one time; a few failures would not be felt too much, but! ;Ione or two successes might not cover total research expend-: itures. It is, therefore, apparent that the small firm in the electro-mechanical field must rely on several factors: i! *| management organisation, finances, sales and distribution, j; j and good technical ability. f ! : J. A. McFadden, Jr., has written an article that !encompasses the over-all picture of product development. ; }IThis writing serves as an excellent summarisation to the I review of the literature on product development: ^Schlaifer, oj>. cit.. p. 107. |
