What is Research and Development(R&D)? Importance of R&D -Pros & Cons of R&D- Why R&D is Used?

Following are the concepts discussed in this video:
research and development,
what is research and development,
research and development in business,
application of research and development,
what is R&D,
importance of research and development,
pros and cons of research and development,
advantages of research and development,
disadvantages of research and development,
objectives of research and development
why research and development (R&D) is used?
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