New product & service design represents a vital activity to ensure sustainable competitive advantage. Provide your answer
Question:
New product & service design represents a vital activity to ensure sustainable competitive advantage.
Provide your answer to the following questions:
1. How Research & Development activities contributeto productivity improvement and the generation of new products and services?
2. In today's interconnected, global, and "real-time" economy, how do business can leverage technology advancement to sustain the competitive advantage it generates from product and service development?
While developing your answers:
a. Provide a concrete example to illustrate your points.
b. Consider some of the concepts covered in class such as utilization, efficiency, eco-design as well as other concepts such as value creation, customers' involvement among others.
Look forward to your insightful contribution