Development is the process that creates growth, brings progress and positive change. It encompasses both economic and social advancement and can be applied to an entire country, a community, or an individual person. Economic development is a policy that aims to improve the economy of a country by increasing its GDP. This includes boosting market productivity and providing access to better health and education. Social development is the improvement of people’s quality of life and access to services, such as literacy, healthcare, housing, etc. Nobel Prize winner Amartya Sen argues that development is about more than just GDP.
Research & Development
When companies make investments in R&D, it’s often with the intention of developing something new that they can leverage to compete against their competitors. For example, Google’s parent company Alphabet spends more than $16 billion each year on R&D through its X division, the same arm that developed its Waymo self-driving car and cloud computing services.
The development process can be difficult, particularly for those who are not accustomed to it. It’s important to be aware of the challenges that can arise when trying to implement a project and to seek out support from others.
In the context of the global development agenda, the sustainable development goals (SDGs) are designed to guide countries towards equitable and sustainable economic, environmental, and social progress by 2030. In order to reach the SDGs, it is essential that a broad range of stakeholders collaborate to address challenges and identify opportunities.
