Introduction

Introduction:

* The Research and Development (R&D) also called Research and Technical Development (RTD) is a specific group of activities within a business. 

*The activities that are classified as R&D differ from company to company, but there are two primary models.

 *In one model, the primary function of an R&D group is to develop new products.

 *In the other model, the primary function of an R&D group is to discover and create new knowledge about scientific and technological topics for the purpose of uncovering and enabling development of valuable new products, processes and services.

 *Under both models, R&D differs from the vast majority of a company's activities which are intended to yield nearly immediate profit or immediate improvements in operations and involve little uncertainty as to the Return On Investment (ROI).

* The first model of R&D is generally staffed by engineers while the second model may be staffed with industrial scientists.

* R&D activities are carried out by corporate (businesses) or governmental entities.