Timing is everything: A technology transition framework for regulatory and market readiness levels

Kobos, Peter Holmes; Malczynski, Leonard A.; Walker, La Tonya Nicole; Borns, David James; Klise, Geoffrey Taylor

doi:10.1016/j.techfore.2018.07.052

Cited by 46 publications

(23 citation statements)

References 77 publications

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“…The firms that make changes involving innovation and contingency perform better than their non-adaptive peers affected by the same regulatory change (Smith and Grimm, 1987). Also, firms have different readiness to deal with regulatory (and market and technology) change (Kobos et al, 2018). If a firm masters the certifications required by regulations, it can achieve a competitive position (Polidoro, 2013).…”

Section: Flexibility In Company Responsementioning

confidence: 99%

The role of flexibility and complexity in response to regulatory change: A case study of innovation in a major Danish financial institution

Bentzen

Freij

Varnes

2021

The International Journal of Entrepreneurship and Innovation

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The link between regulations and innovation is puzzling. Some studies point to higher innovation performance as an effect of regulation, whereas other researchers disagree. A literature review shows empirical inquiries into various industries, with the financial sector attracting significant attention. The review also points to a company’s responses’ flexibility and complexity as variables mediating the relationship between regulation and innovation performance. These variables remain underexplored as empirical objects of analysis on a company level in the financial sector. By applying a case study research strategy, 100 launched financial service innovations’ performance is compared with qualitative data assessing flexibility and complexity in the project work, leading to the launch of these products into the marketplace by a major Danish financial company. Finally, these data are quantitatively tested with a multinomial logit model. The results contribute to the differing views on how regulations influence innovation by showing links between high flexibility and low complexity in firm response for improved innovation performance. Increased complexity, in turn, impedes performance. Hence, specific innovation efforts from management are critical for striking the right balance between flexibility and complexity to achieve success in connection with regulatory changes.

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Section: Flexibility In Company Responsementioning

confidence: 99%

The role of flexibility and complexity in response to regulatory change: A case study of innovation in a major Danish financial institution

Bentzen

Freij

Varnes

2021

The International Journal of Entrepreneurship and Innovation

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“…Markets are required by the new technology in agriculture, and the TRL does not necessarily coincide with the Market Readiness Levels (MRL) [12,13]. In addition, might create conflict with the regulation, organizational, societal, and political understanding [14]. Even though the new technology has high TRL and MRL value, times do not mention what and how the new technology should be adopted by the user [15] as well as when users took it into the sphere of everyday practice in their socio-technical structure.…”

Section: Assessing Scientific and Impact Of Research On Agriculturementioning

confidence: 99%

Balancing scientific and impact recognition on agriculture research and development in developing country

Hermanto

Purnomo

2021

E3S Web Conf.

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People discuss very seriously on an issue about the connection between research and commercialization, and the science and impact at the end. Some theories dichotomize both ends, i.e.: Death Valley, technology readiness level, research and commercialization, science and technology, and so on. Gap between scientific and impact should not be a big issue since research might only result in science, not technology, technology could be composted from several sciences, and not every technology goes directly to commercialization. However, efforts are needed to encounter the issues. On Agriculture, a long journey/sequence on Research and Development (R&D) might also contribute to the gap between scientific and impact recognition. Balancing could be done through a research consortium that able to shorten the research sequence, strengthen the concept, redesign the R&D concept, and conduct commercial research and the involvement of the private.

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“…Such factors are present in transaction cost economics (Williamson 1985), evolutionary economics (Nelson and Winter 1982) and theories relating firms' resources to entrepreneurship (Penrose 1959). Businesses must anticipate future changes in regulations or they may struggle to implement new products, processes and technologies (Kobos et al 2018). Regulatory change and technology dynamics often interact (Pisjak 1994).…”

Section: Introductionmentioning

confidence: 99%

Regulatory change impact on technology and associated mitigation capabilities

Freij

2021

Technology Analysis & Strategic Management

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Technology is a driver of survival and profit for firms. For technology to create value, it should be implemented in products, processes and infrastructure. The impact of regulatory change on technology can be significant, but this topic has been less thoroughly explored than the impact of research and development and customer demands. Hence, researchers have struggled to explain why some firms are more successful than others in responding to regulatory change. The present study examines three major regulatory changes that occurred over a 25-year period in the Swedish life insurance industry, and how each change impacted technology. From these data, a picture of mitigation capabilities relative to regulatory change emerges. The complementary mitigation capabilities stand in contrast to the previous dyadic division between ordinary (or administrative) and dynamic (entrepreneurial) capabilities. Practical advice is offered on how to achieve business benefits from regulatory changes.

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Timing is everything: A technology transition framework for regulatory and market readiness levels

Cited by 46 publications

References 77 publications

The role of flexibility and complexity in response to regulatory change: A case study of innovation in a major Danish financial institution

The role of flexibility and complexity in response to regulatory change: A case study of innovation in a major Danish financial institution

Balancing scientific and impact recognition on agriculture research and development in developing country

Regulatory change impact on technology and associated mitigation capabilities

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