research and development (redirected from Research and development and innovation)

research and development (R&D)

In industry, two closely related processes by which new products and new forms of old products are created through technological innovation. The work generally focuses on two types of research, basic and applied. Basic research is directed toward a generalized goal (e.g., genetic research in a pharmaceutical laboratory). Applied research directs the results of basic research toward the needs of a specific industry and results in the development of new or modified products or processes. In addition to carrying out basic and applied research and developing models, R&D staff may evaluate the efficiency and cost of the product.