I opened business now I want to commercialize it? how can this be achieved
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Just as quality and manufacturing excellence were key to competitiveness in the 1980s, superior commercialization of technology will be crucial in the 1990s. In the coming decade, businesses will rise and fall depending on whether they discipline their commercialization efforts. Some companies—like Canon, Philips, and Merck—already have the capability to bring sophisticated technology-based products to market faster and more often than competitors that treat commercialization as a purely intuitive, creative process. Most other companies will be compelled to develop this capability if they are to thrive.
Over the past year, we have examined the difference between leaders and laggards in commercialization in the United States, Japan, and Europe. Our study found that leading companies…
commercialize two to three times the number of new products and processes as do their competitors of comparable size.
incorporate two to three times as many technologies in their products.
bring their products to market in less than half the time and
compete in twice as many product and geographic markets.
These differences are not one-time occurrences that reflect specific product introductions, nor are they limited to certain nations. The study found that the critical differences between high-performing companies and low-performing companies…
were sustained over multiyear periods and
were as great in Japan as in America or Europe.
As part of the study, managers were asked to describe their commercialization processes. An interesting pattern emerged. Companies that are good at commercialization did not describe processes that are idiosyncratic to their organizations. Rather…
high performers explained their success in strikingly similar terms and
low performers did not describe their businesses in the terms high performers used.
In short, the study found large differences among companies’ abilities to commercialize technology, and the good companies seemed to be doing certain things that the poor companies were not. While many businesses treat the commercialization process as a series of separate steps or an inherently creative task that should not be tightly managed, the good companies view commercialization as a highly disciplined system. They apply to the total commercialization process the basic principles for improving manufacturing quality: they establish it as a top priority, set measurable goals for ongoing improvement, develop the necessary organizational skills, and encourage managers to take aggressive action. They see it as management’s job to ensure that handoffs and communication are rapid and smooth, and they pay relentless attention to improving the process (see the insert “The Commercialization Process” for more about this).
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