Investment and planning in R & D

When planning investment in R & D the required resources must be available—including intellectual resources. Ideally all the issues should be clear: and the R & D programme itself should be the most direct route to the objective, avoiding costly lavishness that may divert attention and effort. Innovation involves using intellectual capital and resources to their best advantage, for commercially worthwhile technical progress in industry. Planning is one of the ‘tools’ and both R & D and investment are ‘materials’ of progress. In this paper, the author examines the many implications behind this statement.