Question

Which of the following statements concerning research and development is correct? a. Exploratory research is directed toward commercialization of a new technology. b. Development research is more important than exploratory research. c. Exploratory research and development research are needed for internal new venturing. d. Exploratory research is more important than development research. e. Development research advances basic science.

Answer 1

Answer:

c. Exploratory research and development research are needed for internal new venturing.

Explanation:

Exploratory research as the name suggests is a form of research and development which is targeted at exploration or discovery of something which did not exist before such a research. It is the foremost research to attain clarity on the exact nature of a problem.

Development research on the other hand utilizes the findings of a research already conducted to design and develop products and methods. Such a research generates required knowledge and designs for production which form ideal models for creation of products.

Internal new ventures refer to starting completely new business ventures in new markets or entering new industry. Such ventures require both exploratory and development form of research as the venture is completely new, which will require both exploration i.e discorvery and development of new products based upon the findings of exploratory research.