Research and development is the systematic activity combining both basic and applied research, aimed at discovering solutions to the problems or creating new products and services. Research and Development (R&D) is a key element of many organizations and enables a business to generate increased wealth over a period of time, with good planning and utilization.
Innovation is recognized as a vital driver of economic growth and stability. New ideas can act as catalysts for a whole era of new products and services that change the economy, increasing its strength and vitality. Research and development can result in highly valued inventions, ideas and designs for your business that could be a source of potential value, when it comes to maintaining that aforementioned competitive advantage.