Question 19:

Difference in role of R&D in strategy implementation between small and large business:Research and Development (R&D) is a vital aspect to be considered in strategy implementation. Strategies are made for future success. R&D is the set of investigative activities which are usually carried out by the organizations to innovate their goods or services or thier production methods. Some organizations uses R&D to improve their current products and procedures. Since with the help of R&D organizations can predict abetter future, R&D becomes a vital aspect in strategy implementation.

Research and development can drastically influence the future of any organization. However the role of R&D in small business differs from that of large business. Small business entreprenuers are prevented to carry out R&D in large scale as it might bring financial risk upon them. Whereas large businesses conduct their R&D in many countries as they have the resources available. large organizations can invest more in research and develpment and result in higher amount of information which will be proved very effective for their strategy implementation. Eventhough R&D is very effective small businesses which are not spread all over the world and have relatively small amount of staffs cannot take the complete advantage of it because of thier low budget to conduct it. they are provoked to conduct it in their respective states or one or two countries at the best. Large business's high amount of information acquired through R&D can help them in develop new products or procedures. Small business uses thier R&D to improve their existing products or methods to produce them.

Question 30:Steps required to prepare a projected financial statement :-

1)- To begin with the projection of a financial statement the income statement, balance sheet and cash flow statement of the past few years needs to be accumilated and studied thoroughly.

2)- using the above mentioned accounted figures a revenue forecast must be prepared. profit statement and loss statement should should be made alongside.

3)- using the predicted revenue a database of key variables must be prepared. it is wise to highlight the "to be altered" figures in the database to be esily noticed

4)- if we want our projected financial statement to account the selling of goods, then we need to forecast the amount of to be sold products including its cost price. we have to consider all the manufacturing cost and the wastages as well.

5)- make a list of all the possible marketing strategies. run an assumption of the strategies on the business plan and measure the profit and loss for each of the strategies. this will determine and come up with that one strategy which will give us the highest profit. 6)- we need to calculate theoverall cost of the carrying out the business. this will not only include the cost of the product but also the administrative cost, utility cost, medical cost, rents, domestic expenses and staff salaries as well. every section which is related to expense should be given attention in this process.

7)- different departments in the organization requires different staffs. many people will be hired. a forecasted payroll of every individual should be summarized in a form of spreadsheet. some staffs will be waged, some will be commissioned where some people will be paid in ssalaries. every catagory of individuals should be separately outlined.

8)- Now we have all the information to prepare the projected financial statement. once databases and spreadsheets of every expenses and the income is prepared the financial statement can be projected. after creating the financial statement it must be revised repeatedly because the environment of the business is everchanging.

I concur that Research and Development is crutially essential to an organization when it comes to strategy implementation.Technology king like Apple and samsung always has clash among them. Despite the enormous innovation of Apple with its iPhones, Samsung manages to cling their title in the competition. My opinion is that samsung manages to fight the competetion because of their effectively carrying out of R&D. Apple is the most prestegious mobile maker in then market. However it is fortunate for Samsung that they can take the full advantage of R&D which helps to innovate their product, making them the toughest competetor for Apple. Along with samsung other major companies of technology like LG, SONY, Panasonic, understood the understood the importance of Research and Developement which is helping them to survive and keep their good will among all the other strong competitors.

References:Strategic Management Concepts and Cases, 8th Edition, Fred R. David.

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