Purpose: The paper intends to identify the causes or gaps in transfer of managerial knowledge between academia and practitioners and to develop a framework that overcomes the gaps through knowledge management, information technology and human resource practices. The paper aims to suggest a strategic approach based on the knowledge transfer cycle. Design/methodology/approach: The paper presents the development of a conceptual model based on existing research findings and conceptual models in the literature combined with the experience of academicians. Findings: There has been very little transfer of research knowledge due to the inherent barriers in its creation, diffusion, adoption and utilization by practitioners. By enhancing the industry orientation of academicians and adopting systematic processes of review and dissemination, early adopters (practitioners) can experiment and learn to apply theoretical knowledge, which, when supported by institutional mechanisms, of human resource management, information technology and knowledge management (KM), can minimize or eliminate knowledge transfer gaps, leading to improved competitiveness and performance of the firm. Research limitations/implications: The framework has been developed from concepts of KM and transfer and learning and needs to be validated empirically. Practical implications: The framework developed can guide researchers in their approach toward knowledge creation so that their output is adopted by industry and thus has value. Practitioner industries can develop practices based on the framework to enhance their ability to leverage academic knowledge for competitive advantage. Social implications: The paper would enable the framing of policies by higher education institutions and industry to facilitate more effective and efficient transfer of knowledge between researchers and practitioners, leading to enhanced organizational competitive advantage, which would benefit society. Originality/value: The paper provides a framework based on the knowledge transfer cycle model for enhancing the effectiveness and efficiency of research knowledge adoption and utilization. (Contains 1 table and 1 figure.)