Critical Success Factors for the strategic management of radical technological innovation

Abstract

On a long-term basis it is essential for technology driven companies to create and employ radical technological innovations to stay competitive. This is an important yet complex and difficult undertaking. Previous studies lack a comprehensive investigation of the decisive factors that determine success and failure of such innovations. As their realization is risky, costly, and time consuming, a deep analysis of the Critical Success Factors for the strategic management of radical technological innovations is sensible. Drawing on the data of 23 secondary case studies, we derived a comprehensive set of 25 parameters that influence the context on the one hand, and the process of technology commercialization on the other. However, the results are not totally generalizable due to the sample of the analyzed cases. Further research for testing the Critical Success Factors in real life environment is needed.