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Introduction to R&D Management

In: R&D Management and Technology Commercialization

Author

Listed:
  • Orestis Georgiou

    (Ultraleap Ltd.)

  • Mykola Maksymenko

    (Haiqu Inc.)

  • Stephen Russo

    (Honeywell Building Automation Inc.)

Abstract

This chapter explores the foundational vision behind innovation, emphasizing the dual themes of ambition and perseverance that drive R&D. It delves into the transition from ideas to impactful solutions, highlighting the interplay between researchers seeking answers and innovators commercializing breakthroughs. Using historical examples such as Leonardo da Vinci’s designs and the industrial revolution, the chapter illustrates how vision, flexibility, and creativity have propelled society forward. It also examines the challenges of managing R&D, particularly its speculative nature, high costs, and uncertain returns, contrasting the approaches of large enterprises, start-ups, and academia. Regardless of scale, effective R&D management is presented as a critical determinant of success, enabling businesses to navigate risks, drive innovation, and achieve competitive advantage. The chapter concludes by underscoring the societal and economic importance of well-managed R&D, with examples ranging from healthcare advancements to safer transportation and global connectivity.

Suggested Citation

  • Orestis Georgiou & Mykola Maksymenko & Stephen Russo, 2025. "Introduction to R&D Management," Management for Professionals, in: R&D Management and Technology Commercialization, chapter 2, pages 7-10, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-86789-7_2
    DOI: 10.1007/978-3-031-86789-7_2
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