2. Research and development is the systematic
activity combining both basic and applied
research, aimed at discovering solutions to the
problems or creating new products and services.
Research and Development (R&D) is a key
element of many organizations and enables a
business to generate increased wealth over a
period of time, with good planning and utilization.
Innovation is recognized as a vital driver of
economic growth and stability. New ideas can act
as catalysts for a whole era of new products and
services that change the economy, increasing its
strength and vitality. Research and development
can result in highly valued inventions, ideas and
designs for your business that could be a source of
potential value, when it comes to maintaining that
aforementioned competitive advantage.
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