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Introduction Research & Development Introduction In the past, technology was absent in strategic management thinking and practice “Technological innovation traditionally had been potrayed largely as a subject separate from other management practices, including strategy” “A strategy when related to technology was considered as belonging to the realm of R&D” “Technology was treated as implementation issue: a firm determines its strategy and this drives how technology will be used” However, since early 1980s there has been a real acceptance of technology’s strategic importance in decision making. What is Research? Research Basic research Goal: Expand man’s knowledge (e.g., which genes control social behavior of honey bees? ) Often driven by curiosity (but not always) High impact examples: relativity theory, DNA, … Applied research Discover new knowledge Seek answers to questions Goal: Improve human condition (i.e., improve the wolrd) (e.g., how to cure cancers?) Driven by practical needs High impact examples: computers, transistors, vaccinations, … The boundary is vague; distinction isn’t important 3 Research Case of Sixth Sense Why Research? Curiosity Quality of Life Amount of knowledge Basic Research Advancement of Technology Applied Research 5 Utility of Applications Application Development 5 Elements of a Research Proposal Problem statement Previous/Related work How do you plan to solve the problem? Justify your plan (analytical, preliminary results) Evaluation plan Research management What do we already know about the problem? How would the proposed research increase our knowledge? Research plan Motivation: Raise the research question Define the question Benefit of solving the problem Schedule, milestones, fallback plans Resource needs 6 R&D Strategy “ Definition of the set of R&D projects required to achieve the fixed objectives in terms of technology acquisition defined within the overall strategic framework of the firm” Key terms: A set of R&D projects is the actual output of the R&D strategy Technology acquisition refers to acquisition of technology, either internally developed or externally acquired (including the variety of collaborative forms that are needed) The technology is not good per se, but has to be useful to achieve the firm’s overall objectives and therefore there needs to be consistent between the decision of technology acquisition (and ultimately the set of R&D projects planned) and the firms’ overall strategy. Note: Take note, that the ultimate objective of R&D management in the context of firms is to create sustainable financial profit for the firm – profit oriented. R&D Strategy External environment Organisation e.g. FIRM Internal environment R&D Strategy Formulation of the firm’s technology strategy Fixes the overall framework and objectives of the process of technology acquisition, and therefore identifies the technologies to be developed/acquired. R&D project portfolio definition Structure such strategy into “projects” and allocate the resources available among these projects. Assignment Make a file containing: Key Learnings One Page analysis of Product Innovation by Samsung www.finishingschool.pbworks.com [email protected] 9811228852