5.8 Research and development

Objective notes

4 learning objectives

5.8.1(HL)—Importance of research and development

• Evaluate importance of research and development for a business

• R&D supports innovation, competitiveness, growth, efficiency, and differentiation

5.8.2(HL)—Unmet customer needs

• Analyse importance of developing goods and services that address unmet customer needs

• Unmet needs may or may not already be known by customers

5.8.3(HL)—Intellectual property protection

• Apply copyrights, patents, and trademarks

• Intellectual property protection can support innovation, revenue, and competitive advantage

5.8.4(HL)—Innovation

• Distinguish incremental and disruptive innovation

• Incremental innovation improves existing products or processes; disruptive innovation can transform markets