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Characterization of Complex Systems Using the Design of Experiments Approach: Transient Protein Expression in Tobacco as a Case Study

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Developing R&D portfolio business validity simulation model and system.

Hyun Jin Yeo¹, Kwang Hyuk Im²

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.

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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.