R&D Spending

R&D Spending is the amount of money a company spends on research and development in a given period to innovate new products.

More Innovation Glossaries

Product Refinement

Product Refinement

Product Refinement is the process of making incremental improvements to an existing product. It happens after opportunity identification, when the innovator improves a prototype.

Innovation Benefits

Innovation benefits are the measurable value gains from novel solutions that meet new requirements or existing market needs.

Understanding

Ability to see the difference or similarities between things; perception; cognition.

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