The Buddha's Noble Eightfold Path is divided into three divisions. Wisdom, Morality (Ethical Conduct) and Concentration. Right Concentration is the eighth element of the Noble Eightfold Path and is related to Concentration together with Right Mindfulness and Right Effort.
Concentration ('Samadhi') is essential in Buddhism. Often our mind is troubled. Wandering around and making a lot of noise. This is a lack of Concentration.
'Samadhi' can be achieved through Mindfulness of your breathing. Right Concentration enables you to develop Wisdom and cultivate more insight. Eventually this leads to bodhisattva (enlightened being).
In Chinese the sign used for Right Concentration also stands for Equanimity. Stillness of your mind in any situation. In that case you welcome anything that passes by. Living in The Now. When the object of attention passes, our mind remains calm.
Another form of Concentration is to Focus on a specific object. This form of Concentration is very useful if you have a specific task to accomplish. Turn of all possible disturbances and Focus at the task at hand. For instance if you have to write a memo, turn of your e-mail, put away your mobile, find a quiet place to work and close the door. Right Concentration leads to Happiness and Stillness.