R&D (Research and Development)

Research and Development (R&D) refers to the activities that organizations undertake to innovate and improve their products, services, or processes. It involves systematic investigation to discover new knowledge and develop new solutions. Typically, R&D encompasses two main phases: research, where new concepts and ideas are explored, and development, where these ideas are turned into practical applications. Companies invest in R&D to stay competitive, respond to market demands, and drive growth by introducing new technologies or improving existing ones. Ultimately, R&D plays a crucial role in advancing industries and enhancing consumer experiences.