Is Research and Development Department only for MNC company or Any can MSME can build R&D Department?? Do You Want to build it … Learn the simple steps..

Research and Development Department also called as R & D department is a department of a company where company brainstorms a set of new innovative ideas to come up with new products and services. The R & D department are involved in conducting market research, identifying the market trends, and identifying dynamics of the market along with customer painpoints. Is R & D department only for MNC’S?. In this podcast master coach Sathya explains the steps required to build an R & D department for MSME. In order to create R and D department make a team. Choose a place near your office and conduct meeting and ask open ended questions. Make notes of all your meeting points, and Encourage the team to give different thoughts, Encourage everybody to think differently and ask them to explain their ideas. Do analysis on what is not going well with your team, conduct a meeting with r and d team and do test run. Celebrate small success with your team. In many small organizations, the boss will be worried of so many departments such as sales, marketing, production. As a owner you can ask some of your employees to be part of r and d team to give innovative ideas and do design thinking. If you give liberty to your team, they will do wonders for the company. When the business is in loss and when the company is not earning the required profits, company might go off the track, so with the help of R & D team it is possible to overcome the problems and we can see good results. Watch the podcast for more information on how to build a R & D team for MSME.