Part one of term paper
Research and development is an important process for business today. Consumers needs and wants are always changing and so it is vital for the business to meet these demands with R&D to hopefully exceed customer expectations. It is also important for businesses to keep with advances such and technological and medical. Otherwise they will be ...

Part two of term paper
... on consumer needs, wants and competition from other firms. For example Sony have released the smallest minidisc in the world which creates competition and also covers the consumers wants/needs. Improving the operational processes, developing new ones and developing new/improved products are part of the research and development commercial function. R&D should be looking at two areas, which are to: A) Take as much care for the environment as possible. B) Make use of materials in the most effic ...