Global competition has forced many companies to seek innovation from the organizational, product, service, strategic and marketing perspectives and all other feasible means in an attempt to outrun rivals and achieve sustainable advantage. Among them, the fastest and most effective method should be the innovative development of new products and services. The higher the level of innovation, the greater the propensity for outpacing rivals and the longer this will last. Yet when faced with ever fiercer industry competition, R&D remains the critical key for a company to achieve sustainable advantage. This can be seen in terms of how it is able to explore a niche product concept, assemble a dynamic R&D team, and utilize the best R&D management model to launch products that meet customer needs within the shortest time.The source of the competitive advantage of a company is to expand the level of innovation and shorten the R&D duration.

About the Author

Chiu-Chi Wei obtained Ph.D. in Engineering Management from University of Missouri - Rolla, USA, in1992. He is now a Professor of Industrial Management at Chung-Hua University, Taiwan. Professor Wei introduced both project management certificates of PMP and IPMA to Taiwan in 2001 and 2005 respectively. He was the founder and Secretary General of Taiwan Project Management Association and the Representative of Taiwan to IPMA. Professor Wei is now the President of American project Management Association.

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