Abstract
<p>This article aims to form a comprehensive list of influential elements on technology innovation and its commercialisation in firms and furthermore categorises and ranks them to assist managers and technology entrepreneurs in their decision making. 46 elements are derived from the literature and are organised under nine major factors. Also, by the opinions of 108 computer science university professors and using Friedman test, they are ranked based on their importance. The results show that the top three factors are about the attitude of a firm toward technology innovation (‘support’, ‘knowledge’ and ‘technology’) while the least influential factor is the firm's ‘ideology’. The results would help managers to assess their firms’ abilities regarding technology innovation and its commercialisation and assist them to determine where and how they should distribute their resources and concentrate their efforts.</p>
Highlights
1.1 Problem IntroductionOne of the main growth factors of economies is development of new technologies (Dew & Sarasvathy, 2007; Ács, 2006)
This article aims to provide a comprehensive list of elements which are influential on firms’ ability of technology innovation and its commercialisation, categorise them and arrange them in an order of importance, so it could be of practical use for managers and technology entrepreneurs in their endeavours
A quantitative method is used to rank the major factors and their constituents in terms of importance of the influence that they have on technology innovation and its commercialisation
Summary
One of the main growth factors of economies is development of new technologies (Dew & Sarasvathy, 2007; Ács, 2006). Technology innovation and introducing those innovations into the market is an important element in firms’ growth (Mazzarol, 2002) and a source of sustainable competitive advantage (Hall, 1993). This article aims to provide a comprehensive list of elements which are influential on firms’ ability of technology innovation and its commercialisation, categorise them and arrange them in an order of importance, so it could be of practical use for managers and technology entrepreneurs in their endeavours. By doing an inclusive literature review, nine major factors are educed and 46 constituents of those factors are derived. The professors’ responses has been analysed by using Friedman test
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