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Analyse how important science technology, innovation and Research & Development is to 'Cathaypacific' airlines.

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Introduction

Analyse how important science technology, innovation and Research & Development is to 'CATHAY PACIFIC' airlines * New technologies may present businesses with opportunities or threaten them. Opportunities could involve; new business opportunities, creation of substitutes, opening up of new markets improved communication, productivity and ways of working. On the whole, science technology at Cathay Pacific could have relative income elasticity of demand for different services. Cathay pacific may need to embrace new scientific technology to remain competitive against rival companies such as Singapore and china airlines. * The technologies increase the capacity at Cathay pacific and thus improve their profitability; if more capacity is being utilised unit costs should be lower. ...read more.

Middle

Allowing Cathay Pacific to differentiate itself from the competition with other airlines, and earn higher profit margins. * R & D could aim to develop better- quality products which meet their customer's needs more successfully. Also develop more efficient ways of producing to reduce the costs per unit. * Evidently R & D is important to Cathay Pacific & proves to be beneficial : * "We spend a huge amount of money on research and development of new products," said Mr Cuyckens. "But it pays off. About 70% of our business comes from new products, like the two-tier tray we produced for economy class on British Airways.' * Cathay Pacific have innovated with their new 'regional Business Class* seat. ...read more.

Conclusion

The money has to be spent at the earliest stage of the product life cycle, but the product often takes a long time to develop. Once developed the market then often takes time to grow. The return from the money spent on R and D can often be a long time coming. * This is particularly true with airline industries, such as Cathay Pacific. This is because technical developments take a long time and the products are often highly complex requiring several developments to take place before the full product can be developed. * Also, spending on research and development can be a risky investment because so few ideas actually succeed in the market place; as a result the managers of the company may be weary of investing heavily in R & D. Sophie Hong ...read more.

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