Research and Development in Management

Research and Development (R&D) in management refers to the systematic process of creating new products or improving existing ones to enhance a company's competitiveness. It involves investigating market needs, experimenting with ideas, and applying innovative solutions. Effective R&D helps businesses adapt to changes, meet customer demands, and drive growth by introducing cutting-edge technologies or services. This process is crucial for staying relevant in a rapidly evolving market and can contribute significantly to a company's success and profitability.