Open Access

ARTICLE

Knowledge Composition and Its Influence on New Product Development Performance in the Big Data Environment

Chuanrong Wu^1,*, Veronika Lee¹, Mark E. McMurtrey²

1 School of Economy and Management, Changsha University of Science & Technology, Changsha, China.
2 College of Business, University of Central Arkansas, Conway, AR 72035, USA.

* Corresponding Author: Chuanrong Wu. Email: .

Computers, Materials & Continua 2019, 60(1), 365-378. https://doi.org/10.32604/cmc.2019.06949

Abstract

Product innovation is regarded as a primary means for enterprises to maintain their competitive advantage. Knowledge transfer is a major way that enterprises access knowledge from the external environment for new product innovation. Knowledge transfer may face the risk of infringement of the intellectual property rights of other enterprises and the termination of licensing agreements by the knowledge source. Enterprises must develop independent innovation knowledge at the same time they profit from knowledge transfers. Therefore, new product development by an enterprise usually consists of three types of new knowledge: big data knowledge transferred from big data knowledge providers, private knowledge transferred from other enterprises, and new knowledge developed independently by an enterprise in the big data environment. To find what the influences of different types of knowledge are on new product development (NPD) performance, a model is presented that maximizes the expected NPD performance. The results show that the greater the weight of independent innovation knowledge, the greater the performance of NPD. Enterprises tend to transfer knowledge from the external environment when the research and development (R&D) investment is much higher, and enterprises will speed up independent innovation when independent innovation knowledge is expected to bring a larger market share. The model can help enterprises to determine knowledge composition, the scale of R&D investment and predict the performance of NPD.

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Citations