Research and development
Research and Development (R&D)
Research and Development (R&D) (pronunciation: /ˈriːsɜːrtʃ ənd dɪˈvɛləpmənt/), is a term often used in the context of industry, technology, and medicine to describe the activities companies undertake to innovate and introduce new products and services. It is one of the means by which businesses can experience future growth by developing new products or processes to improve and expand their operations.
Etymology
The term "Research and Development" has its roots in the industrial revolution in the late 19th century, where businesses began to invest in innovative activities to increase efficiency and create new products.
Related Terms
- Innovation: The process of translating an idea or invention into a good or service that creates value for which customers will pay.
- Product Development: The process of creating a new product to be sold by a business to its customers.
- Process Development: The aspect of business operation that is aimed at developing new products or innovation.
- Clinical Trials: A type of research that studies new tests and treatments and evaluates their effects on human health outcomes.
See Also
References
External links
- Medical encyclopedia article on Research and development
- Wikipedia's article - Research and development
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