Innovation and Commercialization, Coursework Example

With the current strategies of life it is worth to note innovation opportunities that are driving agents to the peak of an organization. In most cases, almost all the companies have the aim of development, and because of this, they are out looking for any available means to make it possible to enhance the above. Mostly, innovation deals with the technological knowhow while on the other hand, commercialization concerns economic aspect of an organization.

Following the above, here are some of the opportunities that any manager should embrace to explore and meet the desired focus in one way or another. Despite of attraction the opportunity can seem to be, it is not guaranteed that all the opportunities are satisfactory. This calls for diverting analysis by the managers in order to land on a more valuable opportunity.

Evaluation and screening opportunities

It is not mandatory for all the organization to have the same types of innovation and commercialization opportunities. For instance, general mills and consumer goods do have many innovation opportunities compared to other technical industries.

Here are some of the innovative and commercial opportunities that an organization can have. The opportunities include funding which entails the connection to the access of money or resources. Another opportunity is the business incubators, property intellectual opportunities, the policy of the innovation links. To add on, events like unexpected events can lie in either positive side or negative incongruities needs of the process, structure changes of the market, and industry change in demography. Further, there is the new knowledge, and management of innovation. Again, another crucial opportunity is the generation of the idea, screening of the idea, review, and lastly, sponsorship.

Innovation can be either positively or negatively and can affect the future of the organization. Those companies that are nimble enough will automatically receive. Here, the above organization will gain an opportunity and have the capabilities to exploit opportunities and hence edge over the competition. Since the change of technology occurs unexpectedly, some of those companies that will be count unaware can spell disaster. Change that may be distractive, can erode the potential customers, therefore, an organization should not counter the technological change in any way. It is important for one to identify the dangers that can accrue following a sudden change or innovation.

In 2005, researchers came up with software that will in one way or another extrapolate the current trends and predict the future. However, the basics of the object are to not only predict the future, but also get ready for the defense. According to the trend in the general changing in technology, the future of business all over the world can be predicted. Here, organizations should embrace change in a manner that will suit there structured functions of the organization. Thus, the researchers have it that in the near future, there will be a potential and dramatic shift in the economy and its condition. Therefore, it is vital for any organization to take action and take heed of the change. This will be advantageous since an organization will be prepared of the uncertainty. Essentially, innovation will not only change the business environment, but also affect the market trend. Hence, this calls for all organization to be on alert to restructure their businesses.

It is pertinent that, in any organization, there are huddles that in one way or another change the back bone of the available market trend. To be precise the main huddle is the change in technology. For instance, according to the research done; few individuals can take in technology as it comes and relate it with their work. Notably, singularly little expertise that have the knowledge to combine transduction, acoustic, design for heat exchanger with thermo-acoustic technology. Further, currently there is no a mass-producing commercial infrastructure components as the high-power, high-efficiency. Therefore, this makes it hard for employees to tackle their work efficiently.

Apparently, the above hurdles do hinder the rapid progressive nature of the organization. This calls for the following anti-huddles to be in place, which is a partnership. Knowledgeable, partnership is the core factor for any given innovations and commercialization to be successful. Strategic direction is another factor that an organization should embrace in order to achieve best results. Encouraging the research is another core factor in the overcoming of the huddles. Here, research is vital in any given organization, since if the research is made successfully, will automatically bring of the solutions. Organization should be wise and form technology developmental programs that will analyze programs to suit the company’ needs. Lastly to avoid the huddles, organizations should put into consideration the internship opportunities. This will enable trainees to accomplish successfully the placements in an organization.

In conclusion, organizations should give innovation and commercialization the seriousness it deserves since this is the core factor of any given business-oriented bodies as the industry.