R&D as a business - What are the implications for performance measurement?

R and D Management

Volumn 30, Issue 4, 2000, Pages 355-366

  Pearson, A W ^a   Nixon, W A ^b   Kerssens Van Drongelen, I C ^c  

^a UNIVERSITY OF MANCHESTER   (United Kingdom)

^b UNIVERSITY OF DUNDEE   (United Kingdom)

^c UNIVERSITY OF TWENTE   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0034358749     PISSN: 00336807     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-9310.00190     Document Type: Article

References (121)

1. Afuah, A. (1998) Innovation Management: Strategies, Implementation, and Profits. New York: Oxford University Press.
2. Amram, M. and Kulatilaka, N. (1999) Real Options: Managing Strategic Investment in an Uncertain World. Boston MA: Harvard Business School Press.
3. Ansari, S.L., Bell, J.E. and the CAM-I Target Cost Core Group (1997) Target Costing: The Next Frontier in Strategic Cost Management. Chicago IL: Irwin Professional Publishing.
4. Anthony, R.N. and Dearden, J. (1980) Management Control Systems, 4th edition. Homewood, IL: Richard D. Irwin, Inc.
5. Barham, K. and Heimer, C. (1998) ABB The Dancing Giant: Creating the Globally Connected Corporation. London: Financial Times/Pitman Publishing.
6. Berniker, E. (1997) Models of technology transfer: an aerospace case study. In Muller, H., Persson, J.-G. and Lumsden, K.R. (eds), Management of Technology VI Proceedings: The Creation of Prosperity, Business and Work Opportunities Through Technology Management, Vol. II, The Sixth International Conference on Management of Technology MOT 97. Stockholm, Sweden: SMR-The Swedish Society of Mechanical Engineers, Naval Architects and Aeronautical Engineers, pp. 1024-1033.
7. Black, A., Wright, P., Bachman, J.E. with Davies, J. (1998) In Search of Shareholder Value: Managing the Drivers of Performance. London: FT Pitman Publishing.
8. Boer, F.P. (1999) The Valuation of Technology: Business and Financial Issues in R&D. New York: John Wiley & Sons.
9. Bower, J.L. and Christensen, C.M. (1995) Disruptive technologies: catching the wave. Harvard Business Review, January-February. In Brown, J.S. (ed.), (1997) Seeing Differently: Insights on Innovation. Boston, MA: Harvard Business School Publishing, pp. 123-140.
10. Bower, J.L. and Christensen, C.M. (1995) Disruptive technologies: catching the wave. Harvard Business Review, January-February. In Brown, J.S. (ed.), (1997) Seeing Differently: Insights on Innovation. Boston, MA: Harvard Business School Publishing, pp. 123-140.
11. Bradley, S.P., Hausman, J.A. and Nolan, R.L. (eds) (1993) Globalization, Technology, and Competition: The Fusion of Computers and Telecommunications in the 1990s. Boston, MA: Harvard Business School Press.
12. Brealey, R.A. and Myers, S.C. (1991) Principles of Corporate Finance, 4th edition. New York: McGraw Hill.
13. Brockhoff, K. (1998) Technology management as part of strategic planning - some empirical results. R&D Management, 28, 3, July, 129-138.
14. Bromwich, M. and Walker, M. (1998) Residual income past and future. Management Accounting Research, 9, 4, December, 391-419.
15. Brown, M.G. and Svenson, R.A. (1998) Measuring R&D productivity. Research-Technology Management, 41, 6, November-December, 30-35.
16. Brown, S.L. and Eisenhardt, K.M. (1998) Competing on the Edge: Strategy as Structured Chaos. Boston, MA: Harvard Business School Press.
17. Budworth, D.W. (1996) Finance and Innovation. London: International Thomson Business Press.
18. Cauley de la Sierra, M. (1995) Managing Global Alliances: Key Steps for Successful Collaboration. Wokingham, England: Addison-Wesley Publishers Ltd, Addison-Wesley Publishing Co. Inc. and the Economist Intelligence Unit (EIU).
19. Chandler, A. (1993) The Continental Bank Executive Roundtable on Corporate Strategy in the 90's, March 26, 1993, Boca Raton. In Chew, Jr., D.H. (ed.), (1998) The Stern Stewart Roundtables: Discussing the Revolution in Corporate Finance. Malden, MA and Oxford: Blackwell Publishers, pp. 106-124.
20. Chandler, A. (1993) The Continental Bank Executive Roundtable on Corporate Strategy in the 90's, March 26, 1993, Boca Raton. In Chew, Jr., D.H. (ed.), (1998) The Stern Stewart Roundtables: Discussing the Revolution in Corporate Finance. Malden, MA and Oxford: Blackwell Publishers, pp. 106-124.
21. Chesborough, H.W. and Teece, D.J. (1996) When is virtual virtuous? Organizing for innovation. Harvard Business Review, January-February, 65-73. In Klein, D.A. (ed.) (1998) The Strategic Management of Intellectual Capital. Boston, MA: Butterworth-Heinemann, pp. 27-37.
22. Chesborough, H.W. and Teece, D.J. (1996) When is virtual virtuous? Organizing for innovation. Harvard Business Review, January-February, 65-73. In Klein, D.A. (ed.) (1998) The Strategic Management of Intellectual Capital. Boston, MA: Butterworth-Heinemann, pp. 27-37.
23. Chiesa, V. and Manzini, R. (1998) Organizing for technological collaborations: a managerial perspective. R&D Management, 28, 3, July, 199-212.
24. Cohen, L.R. and Noll, R.G. (1991) The Technology Pork Barrel. Washington, DC: The Brookings Institution.
25. Coombs, R., McMeekin, A. and Pybus, R. (1998) Toward the development of benchmarking tools for R&D project management. R&D Management, 28, 3, July, 175-186.
26. Cooper, R. and Slagmulder, R. (1997) Target Costing and Value Engineering. Portland, OR: Productivity Press.
27. Cooper, R.G. (1993) Winning at New Products: Accelerating the Process from Idea to Launch, 2nd edition. Reading, MA: Addison-Wesley Publishing Company.
28. Cooper, R.G., Edgett, S.J. and Kleinschmidt, E.J. (1998) Best practices for managing R&D portfolios. Research-Technology Management, 41, 4, July-August, 20-33.
29. Courtney, H., Kirkland, J. and Viguerie, P. (1997) Strategy under uncertainty. Harvard Business Review, 75, 6, November-December, 67-79.
30. Crainer, S. (1998) Key Management Ideas: Thinkers That Changed the Management World, 3rd edition. London: Financial Times/Prentice Hall.
31. Cunliffe, P. (2000) Scipher share-out. Daily Mail, 15 January, 83.
32. Davenport, T.H. and Prusak, L. (1998) Working Knowledge: How Organizations Manage What They Know. Boston, MA: Harvard Business School Press.
33. Dearden, J. (1988) Management Accounting. Englewood Cliffs, NJ: Prentice Hall International.
34. De Meyer, A. (1993) Management of an international network of industrial R&D laboratories. R&D Management, 23, 2, 109-120.
35. Dixit, A.K. and Pindyck, R.S. (1995) The options approach to capital investment. Harvard Business Review, May-June. In Rutterford, J. (ed.), (1998) Financial Strategy: Adding Stakeholder Value. New York: John Wiley & Sons, pp. 54-69.
36. Dixit, A.K. and Pindyck, R.S. (1995) The options approach to capital investment. Harvard Business Review, May-June. In Rutterford, J. (ed.), (1998) Financial Strategy: Adding Stakeholder Value. New York: John Wiley & Sons, pp. 54-69.
37. Donovan, J., Tully, R. and Wortman, B. (1998) The Value Enterprise: Strategies for Building a Value-Based Organization. Toronto: McGraw-Hill Ryerson.
38. Drury, C. (1985) Management and Cost Accounting. Wokingham: Van Nostrand Reinhold.
39. Edvinsson, L. and Malone, M.S. (1997) Intellectual Capital: Realizing Your Company's True Value by Finding its Hidden Brainpower. New York: HarperCollins Publishers.
40. Ehrbar, A. (1998) EVA™: The Real Key to Creating Wealth. New York: John Wiley & Sons.
41. Ellis, L. (1997) Evaluation of R&D Processes: Effectiveness Through Measurements. Boston, MA: Artech House.
42. Emmanuel, C., Otley, D. and Merchant, K. (1995) Accounting for Management Control, 2nd edition. London: International Thomson Business Press.
43. Engler, C. (1993) Managerial Accounting, 3rd edition. Homewood, IL and Boston, MA: Irwin.
44. European Industrial Research Management Association (EIRMA) (1995) Evaluation of R&D Projects. Paris: EIRMA.
45. EIRMA (1998) Working Group 56: Centralised versus decentralised R&D, Summary minutes from predecessor Working Group, Minutes of Third Meeting, 10/11 September. http://www.eirma.asso.fr/WG56Discussion-Forum/Index.html
46. Ezzamel, M. (1992) Business Unit and Divisional Performance Measurement. London: Academic Press.
47. Faulkner, T.W. (1996) Applying Options thinking' to R&D valuation. Research-Technology Management, 39, 3, May-June, 50-56.
48. Foster, R.N., Linden, L.H., Whiteley, R.L. and Kantrow, A.M. (1985) Improving the return on R&D-I. Research-Technology Management, January-February. In Industrial Research Institute (IRI) (1994) Measuring and Improving the Performance and Return on R&D: Selected Papers from Research-Technology Management, 1985-94. Washington, DC: IRI, pp. 5-10.
49. Foster, R.N., Linden, L.H., Whiteley, R.L. and Kantrow, A.M. (1985) Improving the return on R&D-I. Research-Technology Management, January-February. In Industrial Research Institute (IRI) (1994) Measuring and Improving the Performance and Return on R&D: Selected Papers from Research-Technology Management, 1985-94. Washington, DC: IRI, pp. 5-10.
50. Goldman, S.L., Nagel, R.N. and Preiss, K.C. (1995) Agile Competitors and Virtual Organizations: Strategies for Enriching the Customer. New York: Van Nostrand Reinhold.
51. Goodman, R.A. and Lawless, M.W. (1994) Technology and Strategy: Conceptual Models and Diagnostics. New York: Oxford University Press.
52. Griffiths D. and Pearson, A.W. (1973) The organisation of applied research and development with particular reference to the customer-contractor situation. R&D Management, 3, 3, 121-124.
53. Gryskiewicz, S.S. (1999) Positive Turbulence: Developing Climates for Creativity, Innovation, and Renewal. San Francisco, CA: Jossey-Bass.
54. Gupta, A.K. and Wilemon, D. (1996) Changing patterns in industrial R&D. Journal of Product Innovation Management, 13, 6, November, 497-571.
55. Hamel, G. and Prahalad, C.K. (1994) Competing for the Future. Boston, MA: Harvard Business School Press.
56. Hansen, M.T., Nohria, N. and Tierney, T. (1999) What's your strategy for managing knowledge? Harvard Business Review, 77, 2, March-April, 106-116.
57. Hax, A.C. and Wilde, II, D.L. (1999) The delta model: adaptive management for a changing world. Sloan Management Review, 40, 2, Winter, 11-28.
58. Hershock, R.J., Cowman, C.D. and Peters, D. (1994) From experience: action teams that work. Journal of Product Innovation Management, 11, 95-104.
59. Hope, T. and Hope, J. (1996) Transforming the Bottom Line: Managing Performance with the Real Numbers. Boston, MA: Harvard Business School Press.
60. Iansiti, M. and West, J. (1997) Technology integration: turning great research into great products. Harvard Business Review, 75, 3, May-June, 69-79.
61. Industrial Research Institute (IRI) (1994) Measuring and Improving the Performance and Return on R&D: Selected Papers from Research-Technology Management, 1985-94. Washington, DC: IRI.
62. Innovation Advisory Board (IAB) (1990) Promoting Innovation and Long Termism: IAB Action Programme, October. London: IAB.
63. Jacobs, M.T. (1991) Short-Term America: The Causes and Cures of Our Business Myopia. Boston, MA: Harvard Business School Press.
64. Jagle, A.J. (1999) Shareholder value, real options, and innovation in technology-intensive companies. R&D Management, 29, 3, July, 271-287.
65. Kaplan, R.S. and Atkinson, A.A. (1989) Advanced Management Accounting, 2nd edition. Englewood Cliffs, NJ: Prentice-Hall International.
66. Kaplan, R.S. and Norton, D.P. (1992) The balanced scorecard - measures that drive performance. Harvard Business Review, 70, 1, January-February, 71-79.
67. Kaplan, R.S. and Norton, D.P. (1996) The Balanced Scorecard: Translating Strategy Into Action. Boston, MA: Harvard Business School Press.
68. Kasarda, J.D. and Rondinelli, D.A. (1998) Innovative infrastructure for agile manufacturers. Sloan Management Review, 39, 2, Winter, 73-82.
69. Katz, R. (1997) Managing creative performance in R&D teams. In Katz, R. (ed.), The Human Side of Managing Technological Innovation: A Collection of Readings. New York: Oxford University Press, pp. 177-186.
70. Katzenback, J.R. and Smith, D.K. (1993) The Wisdom of Teams: Creating the High-Performance Organization. Boston, MA: Harvard Business School Press.
71. Kerssens-van Drongelen, I.C. (1999) Systematic Design of R&D Performance Measurement Systems. Thesis, University of Twente, Enschede, The Netherlands.
72. Kerssens-van Drongelen, I., Nixon, B. and Pearson, A. (2000) Performance Measurement in industrial R&D. International Journal of Management Reviews, 2, 2, 111-144.
73. Klein, D.A. (ed.) (1998) The Strategic Management of Intellectual Capital. Boston, MA: Butterworth-Heinemann.
74. Kuemmerle, W. (1997) Building effective R&D capabilities abroad. Harvard Business Review, March-April, 61-70.
75. Lewis, J.D. (1995) The Connected Corporation: How Leading Companies Win Through Customer-Supplier Alliances. New York: The Free Press.
76. Lewis, R. (1998) Membership and management of a 'virtual' team: the perspectives of a research manager. R&D Management, 28, 1, January, 5-12.
77. Lipnack, J. and Stamps, J. (1997) Virtual Teams: Reaching Across Space, Time, and Organizations with Technology. New York: John Wiley & Sons.
78. Lothian, N. (1984) How Companies Manage R&D: A Survey of Major UK Companies. London: The Institute of Cost and Management Accountants.
79. Lynch, R.L. and Cross, K.F. (1991) Measure Up: Yardsticks for Continuous Improvement, Cambridge, MA: Blackwell Publishers.
80. McNair, C.J. and Leibfried, K.H.J. (1992) Benchmarking: A Tool for Continuous Improvement. New York: HarperCollins Publishers, Inc.
81. McNair, C.J. and Vangermeersch, R. (1998) Total Capacity Management: Optimizing at the Operational, Tactical, and Strategic Levels. Boca Raton, FL: St. Lucie Press.
82. Merrifield, D.B. (1999) Innovation management in the 7th 'great epoch'. Research-Technology Management, 42, 5, September-October, 10-14.
83. Morone, J.G. (1993) Winning in High-Tech Markets: The Role of General Management. Boston, MA: Harvard Business School Press.
84. Mouritsen, J. (1998) Driving growth: economic value added versus intellectual capital. Management Accounting Research, 9, 4, December, 461-482.
85. Neely, A. (1998) Measuring Business Performance. London: The Economist in association with Profile Books Ltd.
86. Newton, D.P. and Pearson, A.W. (1994) Application of option pricing to R&D. R&D Management, 24, 1, 83-91.
87. Nixon, B. (1998) Research and development performance measurement: a case study. Management Accounting Research, 9, 3, September, 329-355.
88. Nonaka, I. and Takeuchi, H. (1995) The Knowledge-Creating Company: How Japanese Companies Create the Dynamics of Innovation. New York: Oxford University Press.
89. Odlyzko, A.M. (1996) We still need unfettered research. Research-Technology Management, 39, 1, January-February, 9-11.
90. Office for National Statistics (ONS) (2000) MA14, Research and Development in UK Business: Data for 1998, Survey of Business Enterprise in R&D: 1998. London: ONS.
91. Organisation for Economic Co-operation and Development (OECD) (1998a) Internationalisation of Industrial R&D: Patterns and Trends. Paris: OECD.
92. OECD (1998b) Science, Technology and Industry Outlook: 1998. Paris: OECD, Committee for Scientific and Technological Policy and the Industry Committee.
93. Pearson, A.W. (1973) A note on project selection in R&D - post Rothschild. Operational Research Quarterly, 24, 295-297.
94. Perlitz, M., Peske, T. and Schrank, R. (1999) Real options valuation: the new frontier in R&D project evaluation? R&D Management, 29, 3, July, 255-270.
95. Pisano, G.P. (1997) The Development Factory: Unlocking the Potential of Process Innovation. Boston, MA: Harvard Business School Press.
96. Rappaport, A. (1998) Creating Shareholder Value: A Guide for Managers and Investors. New York: The Free Press.
97. Roberts, E.B. (1988) Managing invention and innovation: what we've learned. Research-Technology Management, 31, January-February.
98. Rogers, D.M.A. (1996) The challenge of fifth generation R&D. Research-Technology Management, 39, 4, July-August, 33-41.
99. Rothwell, R. (1994) Towards the fifth generation innovation process. International Marketing Review, 11, 1, 7-31.
100. Roussel, P.A., Saad, K.N. and Erickson, T.J. (1991) Third Generation R&D: Managing the Link to Corporate Strategy. Boston, MA: Harvard Business School Press.
101. Schumann, P.A., Ransley, D.L. and Prestwood, D.C.L. (1995) Measuring R&D performance. Research-Technology Management, 38, 3, May-June, 45-54.
102. Scott, G.M. (1998) The new age of new product development: are we there yet? R&D Management, 28, 4, October, 225-236.
103. Sloan, R.G. (1996) Using earnings and free cash flow to evaluate corporate performance. Journal of Applied Corporate Finance, 9, 1. In Rutterford, J. (ed.) Financial Strategy: Adding Stakeholder Value. Chichester: John Wiley & Sons, pp. 225-237.
104. Sloan, R.G. (1996) Using earnings and free cash flow to evaluate corporate performance. Journal of Applied Corporate Finance, 9, 1. In Rutterford, J. (ed.) Financial Strategy: Adding Stakeholder Value. Chichester: John Wiley & Sons, pp. 225-237.
105. Song, X.M., Thieme, R.J. and Xie, J. (1998) The impact of cross-functional joint involvement across product development stages: an exploratory study. Journal of Product Innovation Management, 15, 4, July, 289-303.
106. Southworth, A., Walker, M. and Angluin, D. (1997) The Finance and Valuation of R&D: A Study of Bioscience Companies. London: The Chartered Institute of Management Accountants (CIMA).
107. Steensma, H.K. (1996) Acquiring technological competencies through inter-organizational collaboration: an organizational learning perspective. Journal of Engineering and Technology Management, 12, 4, January, 267-286.
108. Stewart, T.A. (1997) Intellectual Capital: The New Wealth of Organizations. New York: Doubleday/Currency.
109. Svelby, K.E. (1997) The New Organizational Wealth: Managing and Measuring Knowledge-Based Assets. San Francisco, CA: Berrett-Koehler Publishers, Inc.
110. Szakonyi, R. (1994) Measuring R&D effectiveness II. Research-Technology Management, May-June. In IRI (1994) Measuring and Improving the Performance and Return on R&D: Selected Papers from Research-Technology Management, 1985-94. Washington, DC: IRI, pp. 27-38.
111. Szakonyi, R. (1994) Measuring R&D effectiveness II. Research-Technology Management, May-June. In IRI (1994) Measuring and Improving the Performance and Return on R&D: Selected Papers from Research-Technology Management, 1985-94. Washington, DC: IRI, pp. 27-38.
112. Szakonyi, R. (1998) Leading R&D: how much progress in 10 years? Research-Technology Management, 41, 6, November-December, 25-29.
113. Tidd, J. and Trewhella, M.J. (1997) Organizational and technological antecedents for knowledge acquisition and learning. R&D Management, 27, 4, October, 359-375.
114. Tipping, J.W., Zeffren, E. and Fusfeld, A.R. (1995) Assessing the value of your technology. Research-Technology Management, September-October. In Katz, R. (ed.), (1997) The Human Side of Managing Technological Innovation: A Collection of Readings. New York: Oxford University Press, pp. 80-89.
115. Tipping, J.W., Zeffren, E. and Fusfeld, A.R. (1995) Assessing the value of your technology. Research-Technology Management, September-October. In Katz, R. (ed.), (1997) The Human Side of Managing Technological Innovation: A Collection of Readings. New York: Oxford University Press, pp. 80-89.
116. Werner, B.M. and Souder, W.E. (1997) Measuring R&D performance - U.S. and German Practices. Research-Technology Management, 40, 3, May-June, 28-32.
117. Whittington, R. (1990) The changing structures of R&D: form centralization to fragmentation. In Loveridge, R. and Pitt, M. (eds), The Strategic Management of Technological Innovation. Chichester: John Wiley & Sons, pp. 183-203.
118. Whittington, R. (1991) Changing Control Strategies in industrial R&D. R&D Management, 21, 43-53.
119. Willett, J. (1994) Quoted in EVA™Roundtable, June 1, 1994, New Brunswick, New Jersey, 252. In Chew, Jr., D.H. (ed.), (1998) The Stern Stewart Roundtables: Discussing the Revolution in Corporate Finance. Maiden, MA: Blackwell Publishers, pp. 242-266.
120. Willett, J. (1994) Quoted in EVA™Roundtable, June 1, 1994, New Brunswick, New Jersey, 252. In Chew, Jr., D.H. (ed.), (1998) The Stern Stewart Roundtables: Discussing the Revolution in Corporate Finance. Maiden, MA: Blackwell Publishers, pp. 242-266.
121. Williams, R. (1972) Independence and accountability after Rothschild. R&D Management, 2, 3, 131-135.