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Article: Selecting R&D projects for technology-based innovation: Knowledge management in the face of embarras de choix

TitleSelecting R&D projects for technology-based innovation: Knowledge management in the face of embarras de choix
Authors
Issue Date2009
PublisherBraybrooke Press Ltd. The Journal's web site is located at http://www.braybrooke.co.uk/jogm/index.htm
Citation
Journal Of General Management, 2009, v. 35 n. 2, p. 61-80 How to Cite?
AbstractA vital question incorporated under the fundamental corporate strategy of technology-based innovation is that of ensuring that R&D would most effectively exploit technological change in the development of new or enhanced products and services. The literature contains a profusion of models, methods and techniques which guide R&D project selection. Three approaches are particularly important: one based on mathematical programming, one where project selection is understood as a process rationally embedded in the corporate behavioural, organisational, and informational structure, and one which requires projects to be strategically consistent-andintegrated. To assist the bounded-rational manager faced with this embarras de choix, the authors propose a heuristic framework which respects both the constraint imposed by decision costs and the principle that to optimise the use of knowledge as many as possible of the results from the literature should enter into the firm's decision-information shortlist. Exploiting this framework, the manager can readily compare the different approaches under the normative methodology of testing the empirical relevance of their assumptions against a core model description of the firm's 'real world' constructed according to the methodology of scientific realism. Once an approach which is methodologically best (most realistic) is found, the decision process can be refined upon further considerations of bounded rationality to determine a model, method, or technique under this approach which is simultaneously knowledge-optimal and operationally-satisficed. © 2009 The Braybrooke Press Ltd.
Persistent Identifierhttp://hdl.handle.net/10722/177780
ISSN
2015 SCImago Journal Rankings: 0.204
References

 

DC FieldValueLanguage
dc.contributor.authorCheung, MTen_US
dc.contributor.authorGreenfield, PFen_US
dc.contributor.authorLiao, Zen_US
dc.date.accessioned2012-12-19T09:39:53Z-
dc.date.available2012-12-19T09:39:53Z-
dc.date.issued2009en_US
dc.identifier.citationJournal Of General Management, 2009, v. 35 n. 2, p. 61-80en_US
dc.identifier.issn0306-3070en_US
dc.identifier.urihttp://hdl.handle.net/10722/177780-
dc.description.abstractA vital question incorporated under the fundamental corporate strategy of technology-based innovation is that of ensuring that R&D would most effectively exploit technological change in the development of new or enhanced products and services. The literature contains a profusion of models, methods and techniques which guide R&D project selection. Three approaches are particularly important: one based on mathematical programming, one where project selection is understood as a process rationally embedded in the corporate behavioural, organisational, and informational structure, and one which requires projects to be strategically consistent-andintegrated. To assist the bounded-rational manager faced with this embarras de choix, the authors propose a heuristic framework which respects both the constraint imposed by decision costs and the principle that to optimise the use of knowledge as many as possible of the results from the literature should enter into the firm's decision-information shortlist. Exploiting this framework, the manager can readily compare the different approaches under the normative methodology of testing the empirical relevance of their assumptions against a core model description of the firm's 'real world' constructed according to the methodology of scientific realism. Once an approach which is methodologically best (most realistic) is found, the decision process can be refined upon further considerations of bounded rationality to determine a model, method, or technique under this approach which is simultaneously knowledge-optimal and operationally-satisficed. © 2009 The Braybrooke Press Ltd.en_US
dc.languageengen_US
dc.publisherBraybrooke Press Ltd. The Journal's web site is located at http://www.braybrooke.co.uk/jogm/index.htmen_US
dc.relation.ispartofJournal of General Managementen_US
dc.titleSelecting R&D projects for technology-based innovation: Knowledge management in the face of embarras de choixen_US
dc.typeArticleen_US
dc.identifier.emailCheung, MT: tmcheung@hkucc.hku.hken_US
dc.identifier.authorityCheung, MT=rp01054en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-77955827739en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77955827739&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume35en_US
dc.identifier.issue2en_US
dc.identifier.spage61en_US
dc.identifier.epage80en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridCheung, MT=7201897422en_US
dc.identifier.scopusauthoridGreenfield, PF=7103046263en_US
dc.identifier.scopusauthoridLiao, Z=7203032568en_US
dc.customcontrol.immutablecsl 141110-

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