GIRISH MALHOTRA

President at EPCOT International

INTRODUCTION
Every business has a mission of making profit, satisfying return on investment expectation of its stakeholders while fulfilling needs of their customers with consistent quality products. In this effort company’s investment in product development, manufacturing technology and innovation has to be justified. In a competitive business world many a times process improvements are necessary to meet prevailing regulations and staying competitive.

Related costs are either passed on to the customers or counterbalanced by productivity or technology improvements.
In a quasi-competitive world where products are needed to sustain and extend life above norms may or may not apply. Needed new products are created and sold at the highest possible price unless there is governmental price intervention. Justification for high prices is recovery of the R&D efforts. Manufacturing technology innovation is generally not a criterion to sustain such businesses especially when the products have a limited patent life.

Innovation might be incorporated to meet regulations.
After patents expire company or companies may or may not crea ...