Explain the three major components of an R&D partnership.
Explain the three major components of an R&D partnership.
Homework Answers
Most of the organization is doing so because of developing a common platform to innovating and working together with a variety of mindset. Basically R&D partnerships are strategic partnerships between businesses and organizations capable of developing a new product or service and others who have a financial interest in the development of such innovations that are useful for the society.
Three major components of an R&D partnership are as follow-
- Two or more companies are coming together to developing and innovating new practices and products.
- Cost and risk sharing that resulting to reduce the risk level on single organization.
- Variety of mindset working together to achieving a common goals.
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