Comparison of Korean of Western R&D: project selection factors for new production development

Abstract

The factors that affected the success or failure of R&D projects for new industrial products in the past have been explored. The success and failure factors in Korea are shown to be different from those of western countries. An empirically based selection model of R&D projects is demonstrated. Factors and weights pertaining to the model are examined, and implications and guidelines on accomplishing R&D projects successfully in Korea are provided. The results indicate that the magnitude of the potential market is important for the success of R&D projects. However, the ease of market entry is not important to the success of the R&D projects. It is also observed that project/company resource compatibility is the most important factor.<>