Discounted-cash-flow analysis of the return on engineering investment

In recent years, manufacturing firms have shown growing concern over the problem of achieving their profit goals. The main causes of this concern are (1) the rapid increase of competition in the market place; and (2) the accelerating rate of obsolescence of newly introduced products. Firms faced with these problems or wishing to improve on their profit objectives are placing greater emphasis on management decision making, which facilitates more efficient use of the firm's resources.