Individual Commercialization: Steps To Effective Commercialization Sample Paper

Commercialization is the process of converting an idea or a product into a cash generation or viable mercantile facet. Businesses and individuals often generate concepts worth significant commercial value. Nonetheless, it is until such thoughts are commercialized that the inventors can enjoy the results. On the other hand, the process is never easy; many activities and processes are involved in the money-oriented activity. The failure to implement such elements well leads to eventual letdown, which often involves losing money and opportunity. That is why the following discussion purposes to cover the basic steps to effective commercialization as a way of promoting commercialization effectiveness.

Organizations competing through constant innovations understand the essence of commercialization. The likes of Google, Tesla, Apple, and Netflix, for example, appreciate that ideas are what run a business. For instance, the internet and smartphones were once mere ideas existing in the minds of particular investors. Steve Jobs is credited with the touch screen innovation that today runs the world. Personal computers, too, form a major part of the twentieth century commercialized products. All these illustrations prove one thing about commercialization: the facet involves more than a single step. Understanding such steps is crucial among investors intending to convert ideas into money-generating endeavors.

Every human being is born with a special gift that they are supposed to serve to the world. Finding and refining such a gift stands to earn the individual noteworthy commercial value. Weis et al. (2018) note that almost every person wishes to stand out and become wealthy by selling an attractive business idea. Companies and investors exhibit this need too, which often provides a competitive edge. Furthermore, Kessler posits that almost all the problems existing today can get solutions if all humans nurture their gifts.

Many people and organizations worldwide live with regrets concerning a great unsuccessful idea that failed to earn the anticipated commercial values. Samsung, for example, is yet to recover from the loss and other negative effects caused by 2016’s Galaxy Note 7 flop. Microsoft’s challenges with Windows Vista in 2007 also depict another critical problem regarding commercialization. Google, the tech giant, also exhibits botched inventions, like the Google+ and Google glass elements (Chechurin & Collan, 2019). All these products feature great ideas that can transform the world. However, a mistake committed in the commercialization process leads to immeasurable consequences that are hard to bear at times.

Studying the commercialization idea provides a list of steps organizations and individuals should undertake to avoid commercialization mistakes. Such steps include customer needs appreciation, value chain involvement, clarification of roles and responsibilities, risk management, and commercialization (Mikołajczak & Bajak, 2021). The various steps follow each other and need to flow the same way during the commercialization process. A business that overlooks any (commercialization) steps risks experiencing a hurting circumstance that leads to even downsizing or ultimate closure of operations.

Whether served by another organization’s products or not, the availability of customer needs in the market creates room for an entity’s idea to receive an effective launching and reception by the market. Abdoellah et al. (2020) maintain that a gap that needs satisfaction always exists in markets. Organizations and individuals linking their products to specific customer behaviors or needs thus find a ready demand, which leads to the realization of true commercial value. A look at a number of the botched ideas, say from Google and Samsung, lacks this vital element. Samsung’s Note 7, for example, disregarded consumers’ need for safe and reliable smart devices. The mistake thus explains the organization’s failure on the Note 7 invention.

On the other hand, value chain involvement connotes the involvement of all the concerned parties in the commercialization process. The value chain facet constitutes a business’s networks, customers, suppliers, and stakeholders. Clark (2021) maintains that ideas need to feature the opinions and concerns of all people to earn commercial value. A technology-based firm, for example, needs to look for concerns from several parties when inventing to ensure value chain inclusivity. Tech experts, customers, technology developers, investors, suppliers, and virtually every accessible party in the technology sector are some entities to consult for such a firm. The move aids in resolving and harmonizing all the contradictory or possibly harmful characteristics of the budding plan (Jordan, 2021). A look at Samsung’s Note S7, for example, informs the essence of this stage.

Samsung is a smartphone giant company that competes with Apple on market leadership. The firm features several smart devices that work well for clients. However, the move to commercialize Note 7’s idea went wrong because the firm failed to involve the value chain. As such, the mistake assumed the fact that many smartphone users require gadgets with improved power storage and consumption features. The error led Samsung to design the Note S7 contrary to the needs of the clients. The product failed the battery life test, which made it perform poorly in the market. Trials to improve the invention after its initial failure further worsened the situation by compromising the battery software. Consequently, Samsung had to face the commodity off after catching fire on several occasions due to power issues. Arguably, the money-oriented bid would not fail if the company implemented the value chain involvement phase of the commercialization process.

Roles and responsibilities’ clarification in the commercialization process appreciates the need for cooperation in the whole course. The teams need to work together and ensure effective communication for the success of the project. Trust and clear roles and responsibilities thus play a major role in the open sharing of information. Setting roles and responsibilities among the project team eliminates competition while fostering cooperation and unity (Gottschalk, 2017). The parties involved in the project also manage to work with trust when no conflicting interests are available.

Distribution of work in the commercialization process makes managing things like intellectual property and costs easy. Knowing what to handle and the limitations each party exhibits in the commercialization projects eliminates disputes and confusion (Popkova & Ostrovskaya, 2019). Eltorai et al. (2020) insist that the roles and responsibilities clarification stage works effectively when the earlier phases are implemented. For instance, involving the value chain before classifying roles allows the various project teams to handle all the possible concerns easily, thus promoting the commercialization process’s success potential.

There are several uncertainties and risks associated with the business world, and the commercialization process is not exceptional. The gap between implementing an idea that works in the laboratory in real life, for example, consists of immeasurable doubts that businesses and individuals must manage. The issue thus informs the next stage of the commercialization process, which is the management of risks (World Intellectual Property Organization, 2020). Progressively administering pilot tests in larger scopes relative to the laboratory size offers a crucial approach to peril management during commercialization.

Risk management during innovation processes creates room for slow and steady implementation of the idea while managing the arising issues until the full-scale execution occurs. The process saves organizations and innovators the threat of realizing setbacks when it is late. Samsung’s commercialization of Note S7, for example, seems to fail this test. The company’s rush to outpace Apple and become a market leader probably forced it to overlook this fundamental phase of the commercialization process. The outcome of such a blunder is the miserable failure of the innovation that led to the crush of the strategy.

The commercialization phase should be easy after the implementation of the above stages. Following the steps leads to a systematic procedure that eradicates challenges and issues that may affect the process. The situation also finds customers and the whole value chain ready to adopt the new idea and reward the inventor. Identifying mistakes earlier during the procedure also leaves the innovator or business with significantly lesser issues to tackle during implementation. Nonetheless, Nafukho and Makulilo (2021) report that waiting for the right timing and market condition to launch the invention is key to promoting the commercialization’s accomplishment. Seamless cooperation throughout the various stages among all the departments of an organization is necessary during the popularizing phase.

In conclusion, the commercialization process is significantly complex and challenging for many investors. The endeavor involves significantly many pitfalls that need avoidance. Of much importance to note is the point that bringing something new in the market exhibits substantial surprises. The innovator needs to remain ready to handle such for success. Identifying the need to make critical decisions and making them on time is crucial. One need not abandon a bright idea because of facing challenges. Being ready to handle and manage changes or even call the entire thing off for a new start further makes the mind of a real inventor. Lastly, investors need to understand that not all great designs become viable and be ready to conceal a defeat if things fail to work. Nonetheless, handling the whole issue with a positive mentality and following the above stages guarantee commercial success.

References

Abdoellah, O. S., Schneider, M., Nugraha, L. M., Suparman, Y., Voletta, C. T., Withaningsih, S., Parikesit, H. A., & Hakim, L. (2020). Homegarden commercialization: extent, household characteristics, and effect on food security and food sovereignty in rural Indonesia. Sustainability Science, 15(3), 797–815.

Chechurin, L., & Collan, M. (2019). Advances in systematic creativity: Creating and managing innovations. Palgrave Macmillan.

Clark, T. J. (2021). How to commercialize chemical technologies for a sustainable future. S.l.: John Wiley.

Eltorai, A. E. M., Zdeblick, T. A., & Weiss, A.-P. C. (2020). Orthopaedic technology innovation: Step-by-step guide from concept to commercialization. Lippincott Williams & Wilkins.

Gottschalk, U. (2017). Process scale purification of antibodies. NF Wiley.

Jordan, J. F. (2021). Innovation, commercialization, and start-ups in life sciences. CRC Press.

Mikołajczak, P., & Bajak, P. (2021). Does NGOs’ commercialization affect volunteer work? The crowding out or crowding in effect. Public Organization Review: A Global Journal, 21(1), 103–118.

Nafukho, F. M., & Makulilo, A. B. (2021). Handbook of research on nurturing industrial economy for Africa’s development. Business Science Reference, IGI Global.

Popkova, E. G., & Ostrovskaya, V. N. (2019). Perspectives on the use of new information and communication technology (ICT) in the modern economy. Springer.

Weis, J., Bashyam, A., Ekchian, G. J., Paisner, K., & Vanderford, N. L. (2018). Evaluating disparities in the U.S. technology transfer ecosystem to improve bench to business translation. F1000research, 7, 329–329.

World Intellectual Property Organization. (2020). The WIPO Academy Portfolio of Education, Training and Skills Development Programs 2021. Switzerland: World Intellectual Property Organization (WIPO).

Analysis Of Caterpillar Company

Mergers and acquisitions present a vital source of development for companies in global distribution strategy. Caterpillar Inc. specializes in developing, manufacturing, and marketing construction and mining machinery and engines, and other construction equipment. According to the company’s website, Caterpillar’s long-term goal is profitable growth, which prioritizes investments in product and service development (Caterpillar, n.d.). The primary short-term goal for the company follows the long-term goal of delivering a quality customer experience through the double increase of services in machinery and energy transportation in 2026 compared to the 2016 baseline (Caterpillar, n.d.). Therefore, the company targets a combination of increased service sales and investments in potentially profitable areas to improve the company’s competitive position.

Furthermore, the process of investments in perspective areas for Caterpillar often includes acquisitions of other companies who have distinguished themselves by developing outstanding technologies compatible with Caterpillar’s activities. In 2021, Caterpillar acquired Enhanced Energy Group, also known as CarbonPoint Solutions, which specializes in the development of technologies of carbon capture that allow further sequestration or utilization of CO2 (Caterpillar, 2021). Implementation of CarbonPoint Solutions’ technology in Caterpillar machinery engines favors the company’s environmental goals by reducing greenhouse gas emissions from Caterpillar products. Furthermore, in 2020 Caterpillar announced the acquisition of Marble Robot Inc., specializing in autonomous technology solutions in construction and industrial sites (Caterpillar, 2020). The acquisition presents one of the most important components of the company’s automation strategy, demonstrating Caterpillar’s commitment to investments in technological development and prioritization of customer service quality.

Thus, Caterpillar acquires companies that center on technologies that can be implemented in the company’s machinery manufacturing and application on construction sites. According to Skyline Market Research LLP (2021), the worldwide mining equipment marketplace is expected to grow significantly by 2027. Furthermore, by acquiring a company specialized in autonomy technology, Caterpillar strengthened its competitive abilities in the future and established a substantial basis for further expansion in the field of mining equipment services. Thus, the acquisition of Marble Robot Inc. could be acknowledged as one of the most critical Caterpillar acquisitions as it reflects the organizational goals and contributes to the organization’s competitive advantage in the future.

Lastly, considering Caterpillar’s operational plan for global distribution, the company adheres to the transnational strategy. The central operations are performed in Illinois, U.S., while other functions such as research and development, marketing, and manufacturing are located worldwide. Moreover, the company features a wide net of dealers, allowing easier and more effective customer service. Dealers provide the foundation for the company’s relationships with customers expanding the range of services provided by the company. According to sales statistics data, the majority of Caterpillar products in 2021 experienced an increase in demand, which suggests that even after the pandemic crisis, the transnational strategy proved to be effective (Caterpillar, 2022). Therefore, Caterpillar’s use of a transnational global strategy favors accomplishing the organization’s short-term goal of increased machinery sales.

In conclusion, this paper analyzed the activities of the Caterpillar company through the prism of short-term and long-term goals. Caterpillar’s long-term goal is profitable growth, and the short-time goal is to increase the number of machinery services for customers. To achieve the long-term goal, Caterpillar acquires companies that develop technologies compatible with Caterpillar’s products. On the other hand, the company utilizes a transnational strategy where most operations are conducted in one country, but a global network of dealers engages in sales services, resulting in increased machinery sales.

References

Caterpillar. (2021). Caterpillar acquires CarbonPoint Solutions.

Caterpillar. (2020). Caterpillar announces acquisition of Robotic Expertise.

Caterpillar. (n.d.). Strategy.

Caterpillar. (2022). Quarterly retail sales statistics.

Skyline Market Research LLP. (2021). Global mining equipment market size to exhibit 5% CAGR through 2027. Yahoo Finance.

Ethnicity In The Context Of Invisible Disabilities

Invisible disability is a metaphor used by people worldwide to describe chronic illnesses and conditions that are not visible at first glance but significantly affect a person’s lifestyle. Visual disabilities are usually less stigmatized than invisible ones because it is harder for people to understand them. People may be unaware of someone else’s illness and harm, but this ignorance does not exempt them from responsibility for accidental physical or psychological damage. It is believed that invisible disability is present in many people, so it is necessary to spread information about it and make society more tolerant and capable of treating people properly.

The event But You Seem Fine: A Glimpse Into Invisible Disabilities was held online, discussing the problems people face because of their invisible disabilities and looking for a rational approach to working with them. Speakers at the event included women, professors, and educators who have invisible disabilities or are involved in activities to support people with such disabilities. The event was hosted by Robin Cunconan-Lahr, an adjunct professor in special education programs. She was in charge of the event and also provided helpful information on how to advocate for your rights (Cunconan-Lakr). The panel included several women who either presented on their disabilities and how they cope with them or how to support people with invisible disabilities properly.

Rebecca Martin, Associate Professor of English, was the first speaker and contributed to understanding the stigma of invisible disabilities. Rebecca drew attention to how the term should be interpreted and how to start working with stigma (Cunconan-Lakr 00:08:18-00:08:45). The woman also reported on what questions would be correct when communicating with people with disabilities and why they would allow understanding of their socio-cultural experience better.

Leann Cocca, assistant professor of academic literacy, talked about how to deal with the manifestations of her disease. The woman was diagnosed with Hashimoto’s thyroiditis, for which she had undergone several surgeries and had difficulty having children. The disease was found early enough that Leann got help in time. However, she is now forced to be on hormone replacement therapy for the rest of her life, which allows her to be physically active and maintain vitality. Leann believes that the invisibility of her illnesses does not cancel out the difficulties she faces: in particular, she pays attention to her mental health (Cunconan-Lakr 00:13:58-00:14:23). It is essential for a woman the fact that she is coping with life’s difficulties is not a compliment because, in this way, her identity is destroyed.

Chris Armstrong, Professor of communication, also talks about her invisible disabilities: acts of microaggression. They, like mosquito bites, arise from the constant pressure and carelessness of people when they ask specific questions. Chris talked about the many stereotypes that increase the risk of developing acts of microaggression. In particular, she highlights inappropriate questions, unreasonable support, and help that no one asked for (Cunconan-Lakr 00:24:00-00:24:25). Chris also mentions that questions about sexualization and personalization are the most uncomfortable because they diminish the importance of a person as an individual; many other speakers agree with her on this.

Beth Ritter-Guth, Associate Dean of online learning & educational technology, tells her story of how she became an ally for her child and why she sees it as her mission. Beth talks about how her son struggled with life right after he was born and how much it impacted them. She says she has post-traumatic stress disorder and constant anxiety over the theoretical possibility of losing her child. Beth believes that all people need support, even if, on the surface, they seem normal. Her anxiety level can be high even if it is not outwardly apparent, but that does not mean you can deny the problem.

Alfreida Smith Kelts, assistant professor of English, at Monroe, has compiled a clear and understandable presentation on behaving if one wants to be an ally for people with invisible disabilities. She mentions that comparisons with other people are the most uncomfortable and incorrect: and the importance of the disease is reduced (Cunconan-Lakr 00:41:05-00:42:00). In addition, she suggests looking for new solutions to support strategies: it is not enough to express sympathy because it will not help people with the disease cope with social pressure. Alfreida is also convinced that creating a sense of community and a common struggle with the problem will significantly change attitudes toward invisible disabilities.

In conclusion, I would like to share my impressions of the lecture I watched: I was struck by how openly the women talked about the problem. Their invisible disabilities cause them stress and bother them, but they cope with them thanks to communication and an appropriate attitude to the problem. Each speaker was calm and interested in proving that disability is just a part of life and not some specific depressing feature. I enjoyed Chris Armstrong’s talk: I learned about the terms used for this micro-pressure and how to deal with it. I also found Alfreida Kelts’ presentation very helpful: now I know how to behave appropriately. Ethnicity in the context of sociological currents in America is a complex issue that has to do with invisible disabilities. One might think that ethnicity does not exist in America; still, it does – even if invisible at first glance.

Work Cited

Cunconan-Lakr, Robin. “But You Seem Fine: A Glimpse Into Invisible Disabilities.” Zoom, 2021.

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