Role of research and development

Question 1

What is the main role of R&D in business?

Answer 1

To innovate and improve products, processes, or services, helping a company stay competitive and meet customer needs.

Question 2

How does R&D support product development?

Answer 2

R&D helps design, test, and refine new products before launch, ensuring they are effective, safe, and market-ready.

Question 3

How does R&D improve efficiency?

Answer 3

By developing better production methods or technologies, R&D can lower costs and increase productivity.

Question 4

What is R&D’s role in gaining competitive advantage?

Answer 4

Innovative R&D can lead to unique products or patents that differentiate a business from competitors.

Question 5

How does R&D contribute to long-term growth?

Answer 5

By continuously improving and innovating, R&D helps ensure future business success and adaptability in changing markets.