This article examines the issue of utilization of research findings from public funded research institutions (PRIs) and universities in Malaysia from the perspective of knowledge flows. Such a perspective is adapted from the literature on innovation and knowledge systems. This representation of innovation in terms of knowledge flows helps us to focus on the managerial dimensions involved in the organization of activities such as research and development (R&D). The paper reveals that there is a dismal rate of adoption of research findings generated from PRIs and universities in Malaysia. It is argued that this poor performance is a consequence of weak research management practices. A framework on the key elements of sound research management is described. The article concludes with a discussion on managerial and policy issues arising from these deficiencies and some suggestions for addressing them.