THE TRANSFER AND COMMERCIALISATION OF TECHNOLOGY FROM SOUTH AFRICA TO FOREIGN MARKETS IN THE FINANCIAL SERVICES INDUSTRY

FH Lubbe, AC Brent

Abstract


International technology transfer (ITT) processes are complex, risky, and often fail. Whenfinancial services organisations have the opportunity to transfer their business model andcore technologies to a foreign market, comprehensive research into the technology and themarket is compulsory. Numerous applicable theories and models in technology transferwere reviewed to develop a comprehensive ITT model. Interviews with key individuals andfocus group sessions were used to rank factors that affect the success of ITT in the financialservices industry specifically, a case in the direct short term insurance industry. Thesesuccess factors were implemented in the developed market evaluation model where theuser is required to enter evaluation values for each factor. The evaluation model thendelivers a value that represents the market potential. This model can be used to evaluateone market or many potential markets. There are two factors that an organisation mustalways be aware of: the influence stakeholders have on the ITT process, and what ITTstrategy is employed. Further research is proposed to validate the developed model beyondthe specific case study.


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DOI: https://doi.org/10.7166/20-2-760

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