Some one who is involved in a racket. A racketeer works by sham and counterfeit, evading the law, working especially in a close knit group.

Any unlawful activity or criminal deception. Racket is referred to such activity when a group is involved in collusion, sharing the unlawful profit.

A part of the organisation engaged in in-house R & D activities to deal with technology development and technology transfer needs. The set up designed continuously for scientific and systematic efforts toward value – addition to customers and fighting competition.

Economic appraisal of R & D projects by a company. Benefits of R & D are often delayed, uneven and invisible. Evaluation should be broad-based ongoing and long-term.

All expenses directed to new service and improvement in existing service to customers at economical price to fight competition. Example designed to add value to existing products and services and innovate new ones.

Research and Development activity suggests systematic use of the scientific knowledge for evolution of new production processes and new products. Activities devoted to adding value to the customer per rupee of the price paid.