What are the major decisions that impact the strategic management of technology and Innovation? Give examples backed up by research.

There are several major decisions that can impact the strategic management of technology and innovation. One of the most critical is research and development (R&D) investment. Companies that invest heavily in R&D tend to have a competitive edge in the market as they can create new products and services, improve existing ones, and discover new ways of creating value for customers. For example, a study by McKinsey and Company found that top-performing companies invest significantly more in R&D than their peers, and also have a more strategic approach to R&D investment, focusing on areas that align with their overall business strategy. Another important decision is around intellectual property (IP) management. Companies that develop and protect their IP tend to have a stronger competitive advantage, as they can prevent others from copying their products or services, and can also create new revenue streams through licensing agreements or selling IP. For instance, a study by IPlytics found that companies with strong IP portfolios tend to have higher valuations, and are also more likely to be successful in patent litigation cases. Finally, a third major decision that impacts the strategic management of technology and innovation is talent management. Companies that attract and retain top talent tend to have a stronger innovation culture, as they can bring new ideas and expertise to the organization. An example is a study by Deloitte, which found that companies with a strong talent management strategy tend to outperform their peers in terms of revenue growth and profitability. Overall, these are just a few examples of the major decisions that can impact the strategic management of technology and innovation. By making sound investments in R&D, developing and protecting IP, and attracting and retaining top talent, companies can position themselves for long-term success in a rapidly changing technological landscape.