The function within an organization that is responsible for the development of breakthrough technologies is typically referred to as Research and Development (R&D).

Here are the steps that explain this process:

1. Idea Generation: This is the first step where the organization encourages its employees to come up with new ideas that have the potential to be transformed into innovative products or services.

2. Idea Screening: In this step, the ideas generated are screened to eliminate those that seem unfeasible or do not align with the organization's goals.

3. Concept Development and Testing: The selected ideas are then developed into concepts. These concepts are tested for their viability and potential profitability.

4. Business Analysis: This involves assessing the potential impact of the new product or service on the organization's profitability. It includes cost estimation, sales forecasting, and profitability analysis.

5. Product Development: If the concept passes the business analysis, it is developed into a physical product or service.

6. Test Marketing: The product or service is then marketed on a small scale to test its acceptance in the market.

7. Commercialization: If the test marketing is successful, the product or service is launched on a full scale.

8. Review: The performance of the product or service is reviewed regularly and necessary changes are made.

This entire process is overseen by the Research and Development (R&D) department. They are responsible for managing the process, coordinating with different departments, and ensuring that the new product or service is developed successfully and launched in the market.

Question

The function within an organization that is responsible for the development of breakthrough technologies is typically referred to as Research and Development (R&D).

Here are the steps that explain this process:

1. Idea Generation: This is the first step where the organization encourages its employees to come up with new ideas that have the potential to be transformed into innovative products or services.

2. Idea Screening: In this step, the ideas generated are screened to eliminate those that seem unfeasible or do not align with the organization's goals.

3. Concept Development and Testing: The selected ideas are then developed into concepts. These concepts are tested for their viability and potential profitability.

4. Business Analysis: This involves assessing the potential impact of the new product or service on the organization's profitability. It includes cost estimation, sales forecasting, and profitability analysis.

5. Product Development: If the concept passes the business analysis, it is developed into a physical product or service.

6. Test Marketing: The product or service is then marketed on a small scale to test its acceptance in the market.

7. Commercialization: If the test marketing is successful, the product or service is launched on a full scale.

8. Review: The performance of the product or service is reviewed regularly and necessary changes are made.

This entire process is overseen by the Research and Development (R&D) department. They are responsible for managing the process, coordinating with different departments, and ensuring that the new product or service is developed successfully and launched in the market.

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