Lean Six Sigma in R&D Industry

The phrase research and development (also R and D or, more often, R&D), according to the Organization for Economic Co-operation and Development refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications". Research and development is often scientific or towards developing particular technologies and is frequently out as corporate or governmental activity.

New product design and development is more often than not a crucial factor in the survival of a company. In an industry that is changing fast, firms must continually revise their design and range of products. This is necessary due to continuous technology change and development as well as other competitors and the changing preference of customers. Without an R&D program, the firm must rely on strategic alliances, acquisitions, and networks to tap into the innovations of others.

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The phrase research and development (also R and D or, more often, R&D), according to the Organization for Economic Co-operation and Development refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications". Research and development is often scientific or towards developing particular technologies and is frequently out as corporate or governmental activity.

New product design and development is more often than not a crucial factor in the survival of a company. In an industry that is changing fast, firms must continually revise their design and range of products. This is necessary due to continuous technology change and development as well as other competitors and the changing preference of customers. Without an R&D program, the firm must rely on strategic alliances, acquisitions, and networks to tap into the innovations of others.