The drive for short-term profits need not derail a firm’s research and development programs, say the authors. By managing technology effectively, executives can ensure that their company’s R&D program focuses on developing technologies that support its product and marketing strategy. While radically new products may seize the public’s imagination, making incremental improvements in existing product lines and adapting old products for new markets are always less risky and often more profitable.
1 P.R. Nayak and J.M. Ketteringham, Breakthroughs! (New York: Rawson, 1986), pp. 130 ff.