TY - JOUR ID - 117594 TI - Formulation of research and development strategy in power plant equipment's manufacturing industries JO - Journal of Energy Management and Technology JA - JEMT LA - en SN - AU - Noemani Seighalan, Ali AU - Khamseh, Abbas AU - Torabi, Taghi AD - . Department of technology management , Science and Research branch, Islamic Azad University, Tehran, Iran AD - Department of industrial management , Karaj branch, Islamic Azad University, Karaj, Iran AD - Department of Economics , Science and Research branch, Islamic Azad University, Tehran, Iran Y1 - 2021 PY - 2021 VL - 5 IS - 2 SP - 32 EP - 44 KW - R&D KW - strategy KW - R&D strategy KW - Power Plant Equipment's Manufacturing Industries DO - 10.22109/jemt.2020.214268.1222 N2 - Application of advanced technologies in the production process has continuously made power plant equipment's manufacturing industries to move beyond the borders of knowledge and technology. What expedites this movement is R&D which involves organizational resources and aligning with goals and strategies. Proper selection of R&D projects requires an appropriate strategy in line with the business goals of companies operating in this sector. To identify factors affecting R&D strategy formulation, we reviewed existing literature. Then a questionnaire was made using perceptions of 18 academic experts working in R&D departments. The questionnaire was confirmed in terms of validity and reliability and then distributed among experts of 10 companies active in R&D. Findings from structural equation modeling in Smart PLS software revealed that 23 established indicators affect R&D strategy formulation. The indicators were lied and prioritized in six main drivers including business strategy, technology strategy, R&D collaboration strategy, R&D funding strategy, innovation strategy, and R&D supportive strategy, respectively. The results show all the extracted factors have a significant impact on the formulation of R&D strategy. Policymakers should consider each of the great six factors when formulating R&D strategy. UR - https://www.jemat.org/article_117594.html L1 - https://www.jemat.org/article_117594_b593573e0326f0651e78ab9a9d4b0082.pdf ER -