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Research and development (R&D) aim at acquiring new knowledge or using existing knowledge in a novel way. For example, it is the improvement of a product or work process. R&D ends when the main product is developed and the focus is shifted to production planning or market expansion. The main features of R&D are novelty, creativity, ambiguity, systematicity and transferability. Novelty means discovering something new, and with that goal in mind, researchers carry out studies at universities and research institutes. In business, novelty refers to new discoveries or technologies that have not

What might happen to Estonia's population in the next few decade and what will be the percentage of children, young people, working- and retirement-aged people in the population? Population projections show how the composition of the population is likely to change in a certain time span. When preparing population projections, current trends in births, deaths and migration are extended to the future. However, many variables need to be taken into account, such as the number of children and the age of mothers, mortality in different age groups, the age distribution of the migrating population and

Insurance provides protection against the unexpected. The purpose of insurance companies is to provide customers with financial support in the event of accidents, theft and other unexpected incidents. Insurance companies offer life and non-life insurance. Life insurance provides financial support to the insured person and their loved ones in the event of a terminal illness, loss of capacity for work, an accident or death. There are also life insurance policies with an investment component for building wealth. Non-life insurance is taken out to mitigate financial losses. The main types of non