Business & ManagementIB

Importance of research and development

Importance of research and development...Research and development, a phrase unheard of in the early part of the 20th century, has since become a universal watchword in industrialized...
Importance of research and development
  • Continuously advances products.
  • Vital to survival to remain competitive.
  • Can generate first mover advantage (being the first firm to release a product).
  • Helps to prolong products.
  • Ensures that products are made to the taste of consumers.
  • Reduces risk of releasing a product.

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