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Identifying new technology areas based on firm’s internal capabilities

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  • Seung-Jun Shin

    (Graduate School of Management of Technology, Pukyong National University, Busan, South Korea)

  • Wonchul Seo

    (Division of Systems Management and Engineering, Pukyong National University, Busan, South Korea)

Abstract

Previously, various studies have proposed several methods to discover new technology or product opportunities. There is, however, a problem in that they do not consider the firm’s internal capabilities or take into consideration only the technical aspects by using only patent data. The search for technological opportunities should take into account the characteristics of the industry in which the technology is applied. Therefore, this study aims to present a systematic approach to identify possible opportunities for new technology areas with firm’s internal capabilities taking into account the features of the industry. To do that, we first collect patent data and extract patent co-classification information from them. Second, we generate meaningful connections between technology classes by applying (ARM). Third, we combine the inter-industry linkage effects so that the connections can reflect a more industrial viewpoint. Finally, from the perspective of a specific firm, we derive new technology areas based on its internal capabilities in terms of technology classes. To show the applicability of the presented approach, we conduct a case study using patents granted in the Korean Intellectual Property Office (KIPO) between 2006 and 2014. This study is expected to contribute to suggesting an approach to identify new technology areas that a specific firm can practically utilize. Furthermore, it will be a basis for implementing a technology planning tool in that it can explore possible opportunities for new technology areas.

Suggested Citation

  • Seung-Jun Shin & Wonchul Seo, 2017. "Identifying new technology areas based on firm’s internal capabilities," Journal of Administrative and Business Studies, Professor Dr. Usman Raja, vol. 3(3), pages 114-121.
    • Handle: RePEc:apb:jabsss:2017:p:114-121
    DOI: 10.20474/jabs-3.3.1
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    References listed on IDEAS

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    Cited by:

    1. Kung Wanchia & Jia Yufei & Yu Hsinchun, 2020. "Discovering Emerging Financial Technological Chances of Investment Management in China via Patent Data," International Journal of Business and Economic Affairs (IJBEA), Sana N. Maswadeh, vol. 5(1), pages 1-8.
    2. Choi, Jaewoong & Lee, Changyong & Yoon, Janghyeok, 2023. "Exploring a technology ecology for technology opportunity discovery: A link prediction approach using heterogeneous knowledge graphs," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    3. Lee, Jiho & Ko, Namuk & Yoon, Janghyeok & Son, Changho, 2021. "An approach for discovering firm-specific technology opportunities: Application of link prediction to F-term networks," Technological Forecasting and Social Change, Elsevier, vol. 168(C).

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