Emerging Technologies, Management System And Strategy Research

Emerging technologies (ETs) are technologies that are forming or developing and may create new industries or bring deep impact on existing industry structures. High uncertainty is the essential feature of ETs and challenges traditional management theory based on continuity and emphasizing equilibrium, rationality and optimality. At present, research on ETs is still in the initial stage. The contents are sparse and lack of analytical frameworks. Most studies on ETs in China follow overseas research ideas and have not analyzed in depth on the scene that Chinese firms are facing so can hardly provide practical suggestions and guide domestic firms' management on ETs.This paper starts with Chinese market characteristics and Chinese firms' stage of technological development and analyzes ETs in China and Chinese firms engaging ET management around critical issues of ET management such as identification, evaluation, R&D and commercialization. Chinese firms' strategy on managing uncertainty of ETs are explored and summarized and a management system of ETs is presented to enrich theory on ET management and provide guidance for Chinese firms.Firstly, this paper differentiates the characteristics of ETs on both technological and market dimensions. Survey and statistical methods including factor analysis and mean test show that superiority on performance and fluidity of technological trajectory are technological characteristics of ETs while uncertainty of market growth and demand content are market characteristics. This finding may help managers to realize features of ETs, identify ETs timely and accurately and take the preemptive opportunities in R&D and commercialization competitions.Then by using survey, factor analysis and multi-regression this study investigates the critical success factors (CSFs) of ETs R&D and commercialization. The result indicates that products position and technological capability has significant influence on R&D performance while complementary assets, government's role and cooperation in industry value chain influence significantly on commercialization performance and thereby these factors deserve close attention of Chinese firms' in managing ETs.After plentiful and in-depth case studies this paper discovers that facing huge scale, diverse demand and lots of lumpy markets Chinese firms have adopted various strategies on ETs R&D and commercialization such as problem driven leading user method, hedging on different technological standards or solutions, exploiting and creating complementary assets, lumpy market strategy and specialized networking incubators focusing on manage uncertainty and cultivate technology, business and firms. It is revealed that these strategies have brought positive effects. This paper summarizes these strategies and draws the implications for Chinese firms and ETs research.Based on integrating Chinese firms' practice and theory on managing uncertainty such as real option and discover based planning, a management system model is put forward. Dynamic evaluation is the essential idea of this system and links criticalprocesses in ET management including searching chance, technological accessing, R&D and commercialization. Firms should actively search and discover market and technological chances brought by uncertainty of ETs and evaluate factors, which may influence on market structures, competition, technology development and firms' resource or capability. Even in the implement stage inspection on external and internal uncertain factors and real option based on evaluation is also necessary. Dynamic evaluation and adjustment work regularly and rhythmically, form repeating loops and guide the planning and implement of various strategies on managing technological and market uncertainty.This paper does some tentative work of innovations as follows: (1). Focusing on Chinese market this study analyzes the market characteristics domestic firms facing and considers them as the bases of discussion on ETs management strategy. Due to the pertinence the conclusions provide meaningful guidance. (2) This study concentrates on the micro level of firm operation and obtain abundant of materials by interview, compilation and survey. A series of ETs management strategies, which are revealed to be effective, are discovered and discussed and the suggestions are easy for firm to implement so have practical merits. (3) By importing theory and ideas including real option, hedging and discover based planning, this paper presents a dynamic evaluation based management system on ETs. This work is helpful for firms to shape systematic strategy on managing ETs, master technique and formulate strategies agilely to gain sustainable advantages by exploiting ETs. Meanwhile it is also an exploring try on research of ETs management and may inspire theoretical and empirical research in the future.