RTM article: Long Term R&D Strategy and Planning
The goal of this ROR was to discover best practices for establishing a long-term vision for R&D that is tied to business strategies and how to use this vision to influence the strategy and direction of the firm. The team’s hypothesis was that R+D leaders must often make investments that extend beyond the normal business planning cycle, however, insights to guide these longer term R&D investments are often challenging for organizations. While organizations may have many of the pieces needed to form a long-term vision – such as market trends, voice of the customer, and customer and market insights – they lack critical pieces that will inform and justify longer term investments.
Participants in this ROR learned how companies are filling those gaps in long-term insights and how they are bringing the pieces together to form a compelling vision and translating this vision into actionable steps to guide long term R&D strategy. They also gained best practices in terms of communicating the vision and driving organizational alignment, with the objectives being to support and influence the long-term vision for the businesses and company as a whole. A maturity model was also developed to enable companies to better understand the journey to strengthening their vision capabilities.
Kent Young (Sherwin-Williams)
Terry Rosenstiel (USG)
John Gavenonis (Agilent)
Subject Matter Expert