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Multi-criteria Assessment of Innovative Technology in the Beef Industry

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  • Hayley Moreland
  • Paul Hyland

Abstract

In Australia rural research and development corporations and companies expended over $AUS500 million on agricultural research and development. A substantial proportion of this is invested in R&D in the beef industry. The Australian beef industry exports almost $AUS5billionof product annually and invest heavily in new product development to improve the beef quality and improve production efficiency. Review points are critical for effective new product development, yet many research and development bodies, particularly publicly funded ones, appear to ignore the importance of assessing products prior to their release. Significant sums of money are invested in developing technological innovations that have low levels and rates of adoption. The adoption rates could be improved if the developers were more focused on technology uptake and less focused on proving their technologies can be applied in practice. Several approaches have been put forward in an effort to improve rates of adoption into operational settings. This paper presents a study of key technological innovations in the Australian beef industry to assess the use of multiple criteria in evaluating the potential uptake of new technologies. Findings indicate that using multiple criteria to evaluate innovations before commercializing a technology enables researchers to better understand the issues that may inhibit adoption.

Suggested Citation

  • Hayley Moreland & Paul Hyland, 2010. "Multi-criteria Assessment of Innovative Technology in the Beef Industry," Modern Applied Science, Canadian Center of Science and Education, vol. 4(12), pages 1-17, December.
    • Handle: RePEc:ibn:masjnl:v:4:y:2010:i:12:p:17
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    References listed on IDEAS

    as
    1. Gopalakrishnan, S. & Damanpour, F., 1997. "A review of innovation research in economics, sociology and technology management," Omega, Elsevier, vol. 25(1), pages 15-28, February.
    2. Richard A. Wolfe, 1994. "Organizational Innovation: Review, Critique And Suggested Research Directions," Journal of Management Studies, Wiley Blackwell, vol. 31(3), pages 405-431, May.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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