Technological diversity management of medical device enterprises

Abstract

Purpose -The purpose of this paper is to examine knowledge creation and technological diversity management by medical device manufacturers, to identify strategic directions for innovation in the medical device field. Design/methodology/approach -This paper uses two types of data to assess the importance of multiple technologies and technological diversity in product development: patent applications and approvals of medical devices for sale and use in medical treatment. Additional perspective is provided by the results of a survey of management styles. Findings -While knowledge-creating innovation frequently combines multiple technologies, the scope of technological diversity, the variety of types of technology combined may be wider in low-risk than in high-risk innovation.Research limitations/implications -The sample size is too small to justify claims of statistical significance. This research should be extended to incorporate more cases and explore the theme in greater depth. Practical implications -Companies that choose a high-risk strategy are likely to be more focused on related multiple technologies with which their researchers are already familiar. Conversely, companies that choose a low-risk strategy may have more room to experiment since, if something goes wrong, the risk to patient health is lower. Innovative medical device enterprise to seek high-risk device development is proposed to manage optimal diversity for it. Originality/value -This paper analyses two case studies relevant to growing interest in technological diversity and knowledge management in knowledge-driven innovation in the medical device industry in Japan.

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