RESEARCH AND DEVELOPMENT, also known as R&D, is of great importance in business as the level of competition, production processes and methods are rapidly increasing. R& D is the creative work undertaken on a systematic basis in order to increase knowledge and research to devise and develop new applications, techniques and longer-termed predetermined outcomes with broad forecasts of future commercial yields in an attempt to create higher profit or a greater market share with increased productivity and reduced operational costs.

MARKETING
Competition
Business trends
Business efficiency