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

Area of Science:

• Management Science
• Innovation Management
• Strategic Management

Background:

• Decision-makers (DMs) often lack exposure to innovation efficiency and risk assessment within organizational strategy.
• Bridging the knowledge gap between DMs and technical teams is crucial for aligning technology planning with strategic management, especially under uncertain conditions.

Purpose of the Study:

• To introduce a framework that translates organizational strategy into technological decisions while managing innovation risk.
• To address the challenges faced by DMs, particularly those lacking technical expertise, in navigating uncertain innovation landscapes.

Main Methods:

• Application of the Fuzzy Front-End (FFE) concept.
• Utilization of a fuzzy data envelopment analysis (FDEA) model.
• Employing an adjustable possibilistic programming (APP) approach to analyze uncertainty and efficiency.

Main Results:

• Innovative activities commonly exhibit low efficiency and high uncertainty.
• Introduction of a novel hybrid "success-failure" uncertainty perspective.
• Development of "efficiency probability" as an intuitive measure for DMs and developers.

Conclusions:

• The proposed framework aids in determining the acceptance or rejection of innovative activities based on uncertainty and efficiency.
• Balancing organizational goals with technological and business features is essential for making informed decisions on innovation implementation.
• The study offers a practical strategy map for new product development in uncertain conditions.