Research and development

Research and Development (R&D) refers to the work a business conducts toward the innovation, introduction, and improvement of its products and procedures. It is a series of investigative activities to improve existing products and procedures or to lead to the development of new products and procedures.

Definition

R&D is a term that covers three activities: basic research, applied research, and experimental development. Basic research is where the activity is to gain more comprehensive knowledge or understanding of the subject under study, without specific applications in mind. In applied research, the primary goal is to gain knowledge or understanding to meet a specific, recognized need. In experimental development, the primary goal is to produce new or improved products, processes, or services.

Importance

R&D is of great importance in business as the level of competition, production processes and methods are rapidly increasing. It is of special importance in the field of marketing where companies keep an eagle eye on competitors and customers in order to keep pace with modern trends and analyze the needs, demands and desires of their customers.

R&D Models

There are many models of R&D that have been proposed, from the linear model, to the chain-linked model, and the "coupling" model. Each model represents a different understanding of the nature of the relationship between the different stages of the process.

R&D by Country

R&D is geographically distributed among developed countries. The top five countries by total R&D expenditure are the United States, China, Japan, Germany, and South Korea.

See Also

• Innovation
• Product Development
• Applied Research
• Basic Research
• Experimental Development

References

Research and development Resources
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