Exploring new trends in R&D and evolving KM strategy framework for effective R&D performance

R&D Organizations are becoming increasingly aware of the need for innovative approaches to responding more effectively to client’s demands and changes in the market place. Knowledge Management (KM) is central to this and is increasingly recognized as an integral part of the organization’s strategy to improve R&D performance. There is therefore a need for R&D performance based approach to KM. Carrillo et al (2000)[1] suggested that KM could be integrated into key performance indicators. Indian organizations today face a challenging situation. There has been a sea change in their business environments since 1991 when the first step towards liberalization was taken. The WTO regime, foreign competition, increased consumer awareness and stringent regulatory mechanisms have put immense pressure to improve product performance. Many organizations now are investing in their R&D activities with expectations to improve organizational competitiveness. Technology Management is becoming increasingly important as managing technological change becomes a top priority for management and technology is recognized as a key asset. (Twiss 1992) [2]. Research is becoming more complex and thereby increasing both the cost and financial risks of performing research. As an effect, the evaluation of R&D interventions and identifying the contribution of R&D becomes sensitive and crucial.