Research and Development
The concept describes the process of knowledge creation, production, diffusion and application. It encourages businesses and researchers to work together on innovative projects in strategically important areas of science, engineering and technology, and summarises implementation strategies and success factors.
Research and Development Definition
Research and development (R&D) is a process of knowledge creation, production, diffusion and application. It involves innovation in scientific technology, management measures and social and political systems (Wang, 2007). Factors important to R&D relate to the size of the firm, cooperation with other firms (Cassiman and Veugellers, 2002), efficiency and effectiveness and the correct usage of progress metrics (Guan and Chen, 2010).
Research and Development Description *
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Research and Development References (4 of up to 20) *
- BIS (The Department for Business Innovation and Skills) (2010) The 2010 R&D Scoreboard. [Online] Available at: webarchive.nationalarchives.gov.uk/20101208170217/http://www.innovation.gov.uk/rd_scoreboard/downloads/2010_RD_Scoreboard_analysis.pdf [Accessed: 15 February 2012].
- BusinessLink. Manage Your Research, Design and Development. [Online] Available at: www.businesslink.gov.uk/bdotg/action/detail?itemId=1087105556&r.i=1075083671&r.l1=1073858796&r.l2=1073859020&r.l3=1074003278&r.s=sc&r.t=RESOURCES&type=RESOURCES [Accessed: 15 February 2012].
- Dilling-Hansen, M., Madsen, E.S. and Smith, V. (2003) Efficiency, R&D and Ownership. Some Empirical Evidence. International Journal of Production Economics, Vol. 83(1), pp. 85-94.
- Duesterberg, T. (2011) Manufacturing's New Innovation Labs. Harvard Business Review. 14 November.
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