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Developing R&D portfolio business validity simulation model and system
1Division of Digital Contents, Dongseo University, 47 Jurye-ro, Sasang-Gu, Busan 617-716, Republic of Korea.
Thescientificworldjournal
|April 21, 2015
Summary
This study introduces a new simulation model for evaluating research and development (R&D) portfolios from a business perspective. It addresses the challenge of R&D investment decisions by integrating business model components for better validity.
Area of Science:
- Business Administration
- Innovation Management
- Technology Management
Background:
- Research and Development (R&D) is crucial for competitiveness, driving value creation through patents and new products.
- R&D investment decisions are complex, involving significant budget, time, and manpower allocation.
- Existing R&D evaluation methods are often technology-focused, neglecting critical business factors.
Purpose of the Study:
- To develop a simulation model and system for evaluating R&D portfolios from a business model perspective.
- To integrate business model components into R&D evaluation for enhanced decision-making.
- To provide default and control parameters for validating R&D business strategies.
Main Methods:
- Development of a simulation model based on a previously proposed R&D business aspect evaluation model.
- Integration of nine business model components into the evaluation system.
- Creation of a unified interface with default and control parameters for user-facilitation.
Main Results:
- A functional simulation model and system for R&D portfolio evaluation from a business viewpoint.
- Identification and clarification of key parameters for business validity assessment in R&D.
- A consolidated platform designed to aid evaluators in their business validity work.
Conclusions:
- The developed model and system offer a novel approach to R&D portfolio evaluation by incorporating business model considerations.
- This business-oriented evaluation framework can improve R&D investment decisions and strategic planning.
- The integrated system facilitates a more comprehensive and valid assessment of R&D initiatives.
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