Research and development (R&D) aims at obtaining new knowledge that it might be used to improve current and/or create new technology, products, services, or systems that it will either be used or sold. The goal is to take new products and services to market and add to the company’s bottom line. Research is usually basic or applied. Both types of research helps in acquiring new knowledge, the basic research is initiated without a specific application or use in mind, while applied research is done with a specific goal, use, or product in mind.
In a global industrial landscape that is changing fast, firms must continually revise their design and range of products. This is necessary as well due to the fierce competition and the evolving preferences of consumers putting their needs first. In general, it has been found that there is a positive correlation between the R&D and firm productivity across all sectors, but that this positive correlation is much stronger in high-tech firms than in low-tech firms.
Instead of outsourcing R&D to an external specialist or a university, MIS is doing it internally to tap into its own innovations. Accordingly, MIS seizes every opportunity to modernize its systems, mechanisms and procedures, so (thanks to Allah, for the efforts of its staff and cooperation of its customers) it has become the first, most important and largest company active in medical insurance in Yemen, and still striving to stay a head of and on top of its competition.