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Can open innovation improve technological outcomes for digital transformation?: Structural approach to strategic decisions of Korean ICT SMEs

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  • Hyuk Chung
  • Kyunam Kim

Abstract

In digital transformation, the importance of information and communications technology small‐ and medium‐sized enterprises (ICT SMEs) is growing, but their potential and strategic behaviors responding to digital transformation were not fully understood. We empirically analyzed Korean ICT SMEs' strategic decisions for developing and commercializing digital transformation technologies through a structural model of competencies, R&D strategies, and technological commercialization. We found that open innovation and internal R&D are significant mediators between their competencies and technological commercialization. Sectoral discrepancy is also identified: R&D employment and open innovation positively influence on technological commercialization in ICT service, while patenting and internal R&D are significant for ICT manufacturing.

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  • Hyuk Chung & Kyunam Kim, 2023. "Can open innovation improve technological outcomes for digital transformation?: Structural approach to strategic decisions of Korean ICT SMEs," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(8), pages 4404-4421, December.
    • Handle: RePEc:wly:mgtdec:v:44:y:2023:i:8:p:4404-4421
    DOI: 10.1002/mde.3958
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