Authors: Dr. Ananya Sharma, Mr. Aditya Rao
Abstract: Innovation is a cornerstone of sustained competitive advantage in the contemporary business landscape. Effective research and development (R&D) management enables firms to create novel products, improve processes, and gain market leadership. This paper explores the economics of innovation, focusing on how firms strategically manage R&D for competitive advantage. The study examines the impact of R&D investment, collaborative innovation, and technological advancements on economic performance. Findings highlight that strategic R&D management not only enhances competitiveness but also fosters sustainable economic growth in the evolving global market.
Keywords: Economics of Innovation, R&D Management, Competitive Advantage, Technological Advancement, Innovation Strategy
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