Transformation of R&D: Redefining Risk
The Transformation of R&D: Redefining Risk [SR-726]
More than the manufacturing might of its vast industries, more than its renowned marketing prowess, the critical growth engine of the
U.S. economy is research and development (R&D)—the means by which knowledge capital is created. Indeed, R&D provides the basic ideas—the pure science—from which our scientists and engineers build the continual flow of innovative products that improve the standard
of living worldwide and make more goods more affordable to more people. Effective R&D keeps the United States competitive in a world where more value is embedded in a wider range of products every day, the costs of production are falling, and production cycles are growing shorter.