Navigating the Downturn: Go-To-Market Strategies and Tactics For R&D Executives In Today’s Tough Economic Times
This report describes how R&D activity during a recessionary period can serve as an opportunity to identify new revenues streams and leap ahead of competitors.
The report’s author, Gerry Baranano, CEO of RevLaunch (www. revlaunch.com), a sales and marketing execution services consulting firm, makes the case for a new more strategic role for CTOs and other senior executives in charge of Research & Development organizations.
The report notes that during bad economic times, companies often suspend or reduce R&D activities. Rather than using bad times to invest in existing customer relationships and develop new ones, companies cut back and even redeploy personnel. As a consequence, developments of many R&D technologies are often delayed or abandoned. Today, few new technologies are being brought to market; promising offerings languish on the R&D shelf.
In the report, Baranano argues that the most effective leaders of R&D organizations recognize they must take charge of the situation. Strategic CTOs take matters into their own hands after they realize that they cannot – and perhaps should not – rely on traditional means to get take their new and most innovative technologies to market. Too much reticence or active resistance can delay and even derail the progress of promising technologies. Instead, they develop their own separate and very special “dream teams,” called Venture Commitment Teams (VCTs).
Baranano describes how VCTs should be built by CTOs and other strategic R&D leaders to identify viable near-term markets for new technology offerings. A process that R&D leaders can implement to jump start the introduction of new technologies, and then transitioned to the traditional business development activities is outlined in the paper.