Critical Success Factors for Strategic Management of ITF R&D Projects Commercialization: An Industry Expert Perspective

Critical Success Factors for Strategic Management of ITF R&D Projects Commercialization: An Industry Expert Perspective

Siu Cheung Ho (City University of Hong Kong, Hong Kong) and Kong Bieng Chuah (City University of Hong Kong, Hong Kong)
DOI: 10.4018/978-1-5225-6301-3.ch008

Abstract

Hong Kong's logistics and supply chain industry is facing challenges in this dynamic business environment. To increase the competitive advantage of the company, research and development (R&D) technology is a good tool for the company survive and create the core advantage in the company. This chapter reviews the existing Hong Kong logistics and supply chain trends, evolution of innovation, and evaluates the factors of new technology adoption. This research identifies the critical issue influencing R&D product commercializes to the market. The in-depth interview with the typical industry experts will be conducted to understand their deep-seated worry concerns and considerations for adopting the ITF R&D deliverables in the firm.
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Problem Of Itf R&D Project Commercialization In Hong Kong’S Logistics And Supply Chain Industry

Figure 1 is ITF R&D project concept from science stage (science) develop the R&D technology to the industry (market) through basic research, applied research and experimental development to verify the developed technology is beneficial for the industry (Ho and Chuah 2018).

Figure 1.

The research development spectrum

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ITF R&D project involves many operations steps and conditions need to be fulfilled for monitoring whether ITF project deliverables are matching with industry requirement for further commercialization and adoption. Figure 2 is the operation low diagram of ITF project, it has many control point such as progress report for the technical and administrative status of the project and audited account to check whether the funding used in a suitable area in complying the regulation. (Ho and Chuah 2018)

Figure 2.

Current ITF project operation flow diagram

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According to Ho and Chuah 2018 & Ho and Chuah 2017, many ITF projects were not successful completed and transferred the developed technology in the Hong Kong’s Logistics and Supply Chain Industry. The problems are:

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