Research and development

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Research and development (R&D or R+D), also known as research and technical development (RTD) in Europe, is a collection of inventive activities that are conducted by organisations or governments in the process of generating new services or products and upgrading ones that are already available. The first step in the process of developing a potentially new service or an improved manufacturing method is the research and development stage.

There are two primary models of an R&D department: one is staffed by engineers and tasked with directly developing new products; the other is staffed by industrial scientists and tasked with applied research in scientific or technological fields, which may facilitate future product development. R&D activities vary from institution to institution, but there are generally speaking two primary models of an R&D department. Research and development is distinct from the overwhelming majority of other operations carried out by corporations in that it is not designed to generate an immediate profit. Additionally, research and development often entails a higher level of risk and an uncertain return on investment. However, investing in research and development is very necessary in order to increase one's market share via the introduction of new goods. R&D, usually abbreviated as R&D&I or R&D&i, is an abbreviation that stands for research, development, and innovation. R&D&I and R&D&i are synonymous with one another.