In the XXI century, research and development have become an integral part not only of the countries' economies but also of the big companies and businesses. Research and Development or R&D refers to innovative activities that companies are undertaking in developing new services or products, or improving the existing ones. Without a clear research and development program and, thus, the department, a company could not be competitive among other companies and create a great product.
The importance of research and development is obvious: it's the way companies and businesses remain competitive and can serve better than their competitors. Research and Development (R&D) has come a long way from traditional labs like Xerox PARC to a couple of day hackathons, that are valuable not only for startups but also for big enterprises. To make sure that you understand an r&d meaning, a team in Mobilunity has created an informative infographic that will give you an understanding of various acronyms that are used in outsourcing companies.
infographic by: mobilunity.com