Towards a fourth generation R&D management model-research networks in knowledge management

Research and development (R&D) management is increasingly about managing knowledge rather than simply managing its generation. Better management of knowledge is a key success factor for industry competitiveness through continuous innovation. R&D management processes developed in the past, which can be described as the first, second, or third generation models, deal with concepts, techniques and tools for managing research as an investment portfolio of the firm. These models focus on the creation and diffusion of knowledge internal to the firm. Management of R&D is also about managing knowledge external to the firm and it involves the management of complementary skills, technological dependencies, and knowledge transfers across research links. This paper addresses the concept of research management as the generation of intellectual capital, which drives future businesses and new products. It examines, as a case study, research management practices employed by biotechnology and pharmaceutical research groups in industries and universities and outlines a fourth generation approach to managing research.