r-and-d-budget

Vocabulary Word

Definition

The term 'R&D budget' is essentially the money allocated by a firm for research and development activities. This budget is used for innovation, or for the improvement of existing products or processes.

Examples in Different Contexts

The R&D budget in the automotive industry supports the development of new vehicle models and technologies. An automotive industry analyst might note, 'Companies with larger R&D budgets are often the first to market with advanced features and electric vehicles.'

Practice Scenarios

Academics

Scenario:

Striving for intellectual and scientific development is this institution's top priority. Let's discuss deploying our resources accordingly.

Response:

By allocating more to our R&D budget, we will fund more research projects, enhancing our academic reputation.

Pharmaceutical

Scenario:

Our organization aims to pioneer new treatments. This necessitates significant investment into research, wouldn't you agree?

Response:

Biggest part of our R&D budget should go towards clinical trials. It's crucial for our breakthroughs in drug development.