The aim of this thesis is to investigate the possibility of managing research and development as a strategic competitive instrument to support the corporate strategy. Furthermore, the thesis will also attempt to describe theories dealing with underlying basic technology strategies, technology and strategic planning, new product development strategy, R&D portfolio and risk management, and technology roadmapping to help integrate, monitor and shape R&D strategy in support of corporate strategy. The investigation into theories on how to shape, integrate and monitor R&D strategy to support corporate strategy was synthesized in a literature review. The subject area, R&D strategy, is heavily researched and the amount of available information is extensive. However, the researchers within the field of R&D strategy do not agree with each other on how to best manage R&D strategically. This thesis was conducted through a literature review. The result showed that theories on R&D strategy and its link to corporate strategy were overall not sufficiently integrated. Basic technology strategies create limits on which R&D strategies are possible for corporations to undertake. For example, product development was viewed as an isolated part of technology management although some authors argue that product development projects create the foundation of future core competences: competences that in a later stage are vital when building future competitive advantages. One other observation, made by the author, was the necessity to use technology roadmapping to join market insight and technological understanding to help align R&D strategy and corporate strategy.