The purpose of ‘Research and Development’ is to provide continual advancement and to launch new products to satisfy customers in a profitable way.

Research:

• Refers to investigating the unknown → new products and processes

Development:

• Uses research findings to create products that might be commercialised

• Improving existing processes or products

Innovation: The process of commercially pioneering new ideas and creations in the production process

For example:

1. Discovery of new production processes

2. Successful exploitation of creative ideas

3. Introduction of new products

4. Entering new markets

Adaptive Creativity vs Innovation Creativity

Creativity: A vital prerequisite to innovation. The process of generating new ideas.

Adaptive Creativity: A category of incremental innovation that adjusts or develops something that already exists

Innovative Creativity: Involves creating something new