From innovation to market entry: a strategic management model for new technologies

Abstract

In this paper, we introduce a new framework that generates a list of strategic actions to support successful management of the innovation process as new technologies are taken to market. The framework links different stakeholders inside and outside the organisation to obtain an holistic view of the requirements necessary to develop the new technology. It integrates and synthesises existing frameworks into an inclusive set of guidelines. The framework is then tested in a case study located in a mid-size semiconductor organisation currently seeking new business opportunities in the emerging photovoltaic market. We conclude by reflecting on the usefulness of the model. Theoretically, the paper contributes to the literature on the management of the introduction of new technologies; practically, the framework provides a normative tool for practising managers.

Keywords:

• innovation
• new technology
• fuzzy front-end
• strategic decision-making
• transfer feasibility point

Notes

All currently available solar panels inherit a characteristic output power. Depending on the temperature and illumination of the panel, the maximum power point varies with output voltage (Hohm and Ropp 2000). Permanent tracking of the maximum power point with a maximum power point tracking algorithm can greatly increase an individual panel's performance so that the extracted power is always at its maximum.