Glossary: Research & Development

Glossary of key terms: Unit 5.6 Research & Development (HL Only)

Adaptive creativity

Refers to incremental innovation, which adjusts or develops a product or process that already exists.

Copyrights

Legal protection for the owners of published works, including those of authors, artists, composers, journalists, musicians, photographers, and film directors.

Development

The section of R&D that is concerned with adapting existing ideas and products in order to commercialise new products in a financially feasible way.

Innovation

The commercial of a new idea in order to fulfil existing customer needs or to create an unmet customer wants (desires).

Innovative creativity

Refers to innovation that involves creating entirely new products and/or processes.

Paradigm innovation

Type of innovation that involves R&D focusing on radical innovation that has the capability of changing the nature of a market.

Patents

The exclusive right given to the registered owner to commercialise an invention, for a pre-determined length of time.

Position innovation

Type of innovation that involves R&D focusing on altering customer perceptions of a brand or product.

Process innovation

Type of innovation that involves R&D focusing on developing new methods of production (or work practises) or product delivery.

Product innovation

Type of innovation that involves R&D focusing on creating new products or developing (improving) existing ones.

Prototype

A test (or trial) version of a product to determine whether it addresses the unmet needs of customers, thereby gauging the chances of commercial success.

Research

The section of R&D that is concerned with the creation of new ideas and new products.

Research and development (R&D)

The process of creating new products (goods and services) and processes (how things are down), in order to meet market needs.

Sunrise industry

A rising (growing) industry as there is significant growth potential in the market, so R&D expenditure is justified.

Sunset (declining) industry

A declining industry as there is no or negative growth in the market, so R&D expenditure is minimal or withdrawn.

Trademarks

The sole right to the owner to use a particular sign or symbol that belongs to the organization, such as brand names and business logos.

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