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http://dx.doi.org/10.5392/JKCA.2013.13.06.401

Understanding Business Model and R&D Project Selection  

Lee, Jong-Won (호서대학교 창업학부)
Song, Kyeon-Seok (호서대학교 창업학부)
Publication Information
The Journal of the Korea Contents Association / v.13, no.6, 2013 , pp. 401-411 More about this Journal
Abstract
Selection of profitable research and development (R&D) projects is one of the major factors affecting sustained growth of firms and countries. This paper analyze what influences the knowledge on the business model exerted on selection of a R&D project. A business model converts the technology value to the customer value, and comprehensively describes the target customers for commercializing a new technology, core values, behaviors within organizations, resources, and external partners. Thus, understanding a business model would make R&D project evaluators place the feasibility and profitability of the business above the merits of the proposed technology in evaluating the technology development. To verify this hypothesis, we had 78 R&D project evaluators acquire the knowledge on the business model and measured how their criteria for R&D project selection have changed using the AHP method. The results shows that feasibility and profitability are more important than the merit of proposed technology, especially capability of company and business development are more important than the levels of technology innovation.
Keywords
Business Model; R&D Project Evaluation; R&D Project Selection; Technology Innovation;
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