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Research and Development |
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Research and development (R&D) Development of new products and services by a company in order to obtain a competitive advantage. Research and Development 1. The process of discovering what goods and services best suit the company's needs and developing those products in order to sell them. For example, a vacuum cleaner company may conduct research into improvements to the vacuum cleaner most likely to be profitable, and then develop new vacuum cleaners in response to the research. It is important to note that not all research and development leads directly to a new product; that is, the developers may find it impossible to develop Product A, but the research generated from the project may lead to the development of Product B. 2. A department in a company that deals with research and development. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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