Research and Development

Research and Development

The expansion of competitive markets in the world has had a profound impact on the economies of developing countries. The need to provide superior services and products from large and medium enterprises, manufacturing and services in these countries has made it important to establish R&D units.

The term "research" generally refers to basic and empirical research that results in knowledge production, and the term "development" refers to the application and utilization of knowledge. The term "research and development" refers to activities carried out under the support of specific units of factories, universities and official agencies, regardless of the literal meaning. The capital allocated to R&D in a country represents industry status, industrial competitiveness, and progress. Thus, by setting up R&D units, companies are looking for goals such as lower cost, more production, more efficient products and thus higher stock prices.

By definition, companies are successful in competing with technology and knowledge to produce products of the highest quality and innovation that meet their customers' day-to-day needs. Since economists view R&D as an important source of innovation and an important driver for economic growth, R&D can therefore play an important role in the quality of life of individuals in a society.

Numerous government policies and programs affect R&D. Most R&D units are started and operated by the government sector. In addition, the government in the private sector is also a facilitator and supporter of R&D units. In most countries, research is provided by universities. Universities conduct research in both the private and public sectors. The community exploits academic research in two ways: First, through students whose research and learning skills are enhanced and later used as expert and efficient forces, and second, through the production of new knowledge that derives from research.