As a R&D scientist and engineer in industrial area, although I think they share some common parts in problem-solving skills and applying knowledge people have mastered, business or market-driven R&D has many different points with interest, paper or even funding-oriented research.
The book "Business-Driven Research and Development:Managing Knowledge to Create Wealth" by Ashok S. Ganguly, who was the Unilever R&D manager, enhance my understanding about industrial R&D. The author grew from a researcher to a R&D manager. This experience makes the author to be more closer real world of industrial R&D, which is not impossible for professors in businees schools. The book states that the
primary role of industrial R&D is to fulfill strategic
objectives of the company within a framework of time and cost targets. The author tries to give the means to improve competitive
advantage of the company through overcoming the gap between R&D and the market place.
The business-driven R&D project proposal in the company may vary. But a generic description of various elements in the proposal is given in the book's Appendix I and summarized as follows:
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