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Resource allocation strategy for innovation portfolio management

Strategic management journal, 2014-02, Vol.35 (2), p.246-268 [Peer Reviewed Journal]

Copyright © 2014 John Wiley & Sons Ltd. ;Copyright © 2013 John Wiley & Sons, Ltd. ;Copyright Wiley Periodicals Inc. Feb 2014 ;ISSN: 0143-2095 ;EISSN: 1097-0266 ;DOI: 10.1002/smj.2107 ;CODEN: SMAJD8

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Title:
Resource allocation strategy for innovation portfolio management
Author: Klingebiel, Ronald ; Rammer, Christian
Subjects: Budget allocation ; Business conditions ; Business innovation ; Disruptive innovation ; Financial portfolios ; flexibility ; Impact analysis ; Innovation ; Innovation management ; innovation portfolios ; Innovations ; Management science ; new product development process ; Portfolio management ; Product development ; Product innovation ; Resource allocation ; Strategic management ; strategic management of innovation ; Studies ; Technological innovation ; Uncertainty
Is Part Of: Strategic management journal, 2014-02, Vol.35 (2), p.246-268
Description: Our study demonstrates empirically that the choice of resource allocation strategy affects innovation performance. Allocating resources to a broader range of innovation projects increases new product sales, an effect that appears to outweigh that of resource intensity. In addition, we find that the performance benefit of breadth is higher for firms that allocate resources selectively at later stages of the innovation process. This breadth-selectiveness effect is greatest for firms intending to create relatively more novel products, departing further from their knowledge base. Based on these results, we theorize that breadth increases performance because it spreads firms' bets on unproven innovative endeavors. Limiting resource commitments by selecting out deteriorating projects prevents an escalation in the costs of breadth. This advantage increases with the uncertainty implicit in greater innovative intent. The paper thus contributes to theory of how resource allocation strategies influence performance outcomes of innovation project portfolios.
Publisher: Chichester, UK: John Wiley & Sons, Ltd
Language: English
Identifier: ISSN: 0143-2095
EISSN: 1097-0266
DOI: 10.1002/smj.2107
CODEN: SMAJD8
Source: Alma/SFX Local Collection

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Resource allocation strategy for innovation portfolio management

Copyright © 2014 John Wiley & Sons Ltd. ;Copyright © 2013 John Wiley & Sons, Ltd. ;Copyright Wiley Periodicals Inc. Feb 2014 ;ISSN: 0143-2095 ;EISSN: 1097-0266 ;DOI: 10.1002/smj.2107 ;CODEN: SMAJD8

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