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Lee, Changyong
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Concentric diversification based on technological capabilities: Link analysis of products and technologies

Author(s)
Kim, HyunwooHong, SuckwonKwon, OhjinLee, Changyong
Issued Date
2017-05
DOI
10.1016/j.techfore.2017.02.025
URI
https://scholarworks.unist.ac.kr/handle/201301/21809
Fulltext
http://www.sciencedirect.com/science/article/pii/S0040162516306254
Citation
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE, v.118, pp.246 - 257
Abstract
This research responds to the needs for concentric diversification by focusing on how firms can find new business opportunities based on their technological capabilities. We propose a systematic approach to identifying potential areas for concentric diversification at a product level via link analysis of products and technologies. For this, first, text mining is utilised to construct an integrated patent-product database from the US patent and trademark database. Second, association rule mining is employed to construct a product ecology network using directed technological relationships between products. Third, a link prediction analysis is conducted to identify potential areas for concentric diversification at a product level. Finally, three quantitative indicators are developed to assess the characteristics of the areas identified. Our case study employs a total of 850,676 patents and 328,288 products in the integrated patent-product database from 2010 to 2014 and shows that the proposed approach enables a wide-ranging search for potential areas for concentric diversification and the quick assessment of their characteristics, with statistically significant results. We believe that the proposed approach will be useful as a complementary tool for decision making for small and medium-sized high-tech companies that are considering entering new business areas, but which have little domain knowledge.
Publisher
ELSEVIER SCIENCE INC
ISSN
0040-1625

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