Investment on Research and Development †Free Samples to Students

Question: Discuss about the Investment on Research and Development. Answer: Introduction: Strategic vision has always been a significant part of organizational performance and development. The strategic vision is based on the management teams ambition to achieve the desired goals and performance excellence. In order to achieve the business sustainability and long term profitability the management team of the Magic Pixel Company is planning to adopt more effective strategic vision. The companys service of providing HD cameras to its efficient customers reflects in their vision that says Inspire the World. In the era of digital revolution, the ever improving digital technologies provide the company with great opportunities as they improve their products with the help of those technologies. The Magic Pixel Companys board of executives has decided the vision as they focused on the motivational and inspirational power of the vision statement towards the goal of achieving strategic objectives and profit. Magic Pixel Company could also benefit from ensuring more returns to its s takeholders by providing innovative and high quality products to its customers. For Magic Pixel it is important to implement a strategy that provides their customers with value for money in order to achieve their goals Magic Pixel Company could achieve the goal not by just meeting the customer expectations but offering them more than their expectations regarding the performance, quality, services and extra features. The company could implement various new strategies to develop their services and financial benefits. The retail operations of Magic Pixel could be expanded by the company with great importance and their specialty sales could be increased as well. The business operation of The Magic Pixel Company can be improved through introducing new products and new distributing channels. Magic Pixel could improve their research and development program by investing more as this will ensure future innovative products and increase their competitiveness. Conclusion: As more investment on Research and Development will encourage our team to develop newer and better products in a market where competitors are engaged in constant innovation, our team has decided to invest more money on RD. The team plans to increase the expenditure by 20000 dollars for UAV drones and 30000 dollars in action capture cameras. The company aspires to increase average wholesale cost to their sales promotions, advertising budgets, retailers and warranty period in order to enhance their marketing strategies for those two kinds of camera.