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Bridging the knowledge gap between technology and business: An innovation strategy perspective

Author

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  • Pejman Peykani
  • Mehdi Namazi
  • Emran Mohammadi
Abstract
Decision-makers (DMs) are not sufficiently exposed to concepts such as efficiency and risk in innovative activities from the perspective of organizational strategy. The challenges become even greater when these DMs lack expertise in technology and deal with uncertain circumstances. In this sense, exchanging expert knowledge between DMs and technical teams will strengthen the link between technology planning and strategic management. The purpose of this study is to bridge the knowledge gap between these two groups. It introduces a framework to translate the organization’s strategy into technological decisions at an acceptable innovation risk level. This framework considers aspects such as knowledge, type of innovation, and innovation process. This study focuses on determining whether activities should be accepted or rejected by examining the uncertainty and efficiency of innovation. It also introduces a novel perspective on the hybrid "success-failure" uncertainty of innovation, and a new measure called "efficiency probability," which DMs and technology developers can use to intuitively engage in the innovation process. This paper seeks to propose a practical strategy map for new product development under uncertain conditions. To achieve this goal, the Fuzzy Front-End (FFE) concept, fuzzy data envelopment analysis (FDEA) model, and adjustable possibilistic programming (APP) approach are applied. The results of this study indicate that innovative activities typically have low efficiency and high uncertainty. Therefore, the decision to implement or abandon them requires reviewing and balancing the goals and strategic approach of the organization with technological and business features.

Suggested Citation

  • Pejman Peykani & Mehdi Namazi & Emran Mohammadi, 2022. "Bridging the knowledge gap between technology and business: An innovation strategy perspective," PLOS ONE, Public Library of Science, vol. 17(4), pages 1-18, April.
    • Handle: RePEc:plo:pone00:0266843
    DOI: 10.1371/journal.pone.0266843
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    References listed on IDEAS

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    1. John Hauser & Gerard J. Tellis & Abbie Griffin, 2006. "Research on Innovation: A Review and Agenda for," Marketing Science, INFORMS, vol. 25(6), pages 687-717, 11-12.
    2. Aken van, J.E., 2004. "Organising and managing the fuzzy front end of new product development," Working Papers 04.12, Eindhoven Center for Innovation Studies.
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