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

Decision-makers (DMs) are not sufficiently exposed to concepts such as efficiency and risk in innovative activities from the perspective of organizational strategy. The challenges become even greater when these DMs lack expertise in technology and deal with uncertain circumstances. In this sense, exchanging expert knowledge between DMs and technical teams will strengthen the link between technology planning and strategic management. The purpose of this study is to bridge the knowledge gap between these two groups. It introduces a framework to translate the organization's strategy into technological decisions at an acceptable innovation risk level. This framework considers aspects such as knowledge, type of innovation, and innovation process. This study focuses on determining whether activities should be accepted or rejected by examining the uncertainty and efficiency of innovation. It also introduces a novel perspective on the hybrid success-failure uncertainty of innovation, and a new measure called efficiency probability, which DMs and technology developers can use to intuitively engage in the innovation process. This paper seeks to propose a practical strategy map for new product development under uncertain conditions. To achieve this goal, the Fuzzy Front-End (FFE) concept, fuzzy data envelopment analysis (FDEA) model, and adjustable possibilistic programming (APP) approach are applied. The results of this study indicate that innovative activities typically have low efficiency and high uncertainty. Therefore, the decision to implement or abandon them requires reviewing and balancing the goals and strategic approach of the organization with technological and business features.

Automated summary

Decision-makers often lack exposure to concepts like efficiency and risk in innovative activities from an organizational strategy perspective, particularly when they lack technological expertise and face uncertain circumstances. This study aims to bridge the knowledge gap between decision-makers and technical teams by introducing a framework that translates the organization's strategy into technological decisions at an acceptable level of innovation risk. The framework considers factors such as knowledge, type of innovation, and innovation process, and proposes a novel perspective on hybrid success-failure uncertainty and a new measure called efficiency probability.