IIRSG - National Beanpole Exchange (NBE)

Invest to support Research and Development (R&D)

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The part of a company's operations that seeks information to create, design, and improve its products, services, technologies, or processes is known as research and development (R&D). Investing in R&D connects different aspects of a company's strategy and business plan, such as marketing and cost reduction, in addition to developing new products and adding features to existing ones.

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The investigative activities that a person or company decides to do with the intention of making a discovery that will either produce an entirely new product, product line, or service are referred to as research and development.

 

Any new science or way of thinking that will result in a new product or new functionality for an existing product is referred to as research. Basic research and advanced research are the two forms of research. Basic science aims to look into scientific concepts from an academic perspective, while practical research aims to put the basic research into practise.

 

The actual implementation of the latest science or thinking such that a new or progressively better product or service will begin to take shape is referred to as growth. While research and development is the first step in creating a new product, product development is not strictly research and development. Product production is a subset of R&D that encompasses the entire product life cycle.

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