why is research and development important 
given the rapid rate of technological advancement r d is important for companies to stay competitive specifically r d allows companies to create products that are difficult for their competitors to replicate meanwhile r d efforts can lead to improved productivity that helps increase margins further creating an edge in outpacing competitors from a broader perspective r d can allow a company to stay ahead of the curve anticipating customer demands or trends the bottom linethere are many things companies can do in order to advance in their industries and the overall market research and development is just one way they can set themselves apart from their competition it opens up the potential for innovation and increasing sales however it does come with some drawbacks the most obvious being the financial cost and the time it takes to innovate 