Currently, there are numerous scholarly articles on the succession but it is surprising that no o... more Currently, there are numerous scholarly articles on the succession but it is surprising that no or few papers have discussed the awareness of succession and its impacts. Therefore, this study focused on the awareness of the family business owners, the attitude of the owners towards intra-succession as means of business continuity, and how their awareness relate to their preparation for the ownership succession and the continuity of their business. To achieve these, 17 owners were interviewed with different backgrounds, lines of business and generations of Family Business (FB), though they all live in Finland. Interestingly, the results revealed that the awareness relates to succession preparation and the business continuity.
This article examines the challenges in commercializing high technologies successfully and sustai... more This article examines the challenges in commercializing high technologies successfully and sustainably using quantum key distribution (QKD) technology as a case study. Quantum communication is increasingly relevant to cybersecurity and nanotechnology, which will replace current technologies and change the way we live. To understand how such high technology could be successfully commercialized, we interviewed individuals from four metrology institutions and two international companies. The result revealed that scattered and small markets, supply chain development, technology validation/certification, a lack of available or adequate infrastructure, and after-sales services are the most serious challenges facing successful commercialization of quantum communication technology. To validate these challenges, we conducted a survey of 60 experts, 49 of whom agreed that above-mentioned factors could affect the commercialization success of QKD technology. Likewise, the survey revealed that technical development, customer orientation/awareness, and government regulations could also hinder the commercialization of QKD technology.
Presently, there is a need for development of new companies and growth of existing enterprises. L... more Presently, there is a need for development of new companies and growth of existing enterprises. Likewise, there is an academic interest in Lean start-up concept. Hence, this paper investigates how potential entrepreneurs, small business owners and innovators can test and commercialise their business ideas by applying the Lean start-up technique. The main goals of this paper are to present the application of the Lean start-up method in real-life situations and show how the method can be applied by the entrepreneurs. Four small companies were observed for 3 to 5 months and five serial entrepreneurs were interviewed. Similarly, 18 best Finnish start-ups (in 2014) were surveyed. The research results showed that the technique can be used for idea and innovation testing. It was revealed that the technique could be applied to different industries though it was more applicable to technological oriented industries. Similarly, it was noted that the stages of applying the technique depend on the nature and type of product or service, the stage of start-up development and the type of start-up team. Application processes of the technique were summarised and a new process was developed. One of the authors applied the new process and it was proved that the technique could be used to commercialise business ideas.
Despite the fact that there are several scholarly articles and textbooks on commercialization of ... more Despite the fact that there are several scholarly articles and textbooks on commercialization of technology; it seems that few or none of them discuss sustainability of new products or new companies. Based on our observation on the different commercialization projects, it was realized that there were certain factors to be considered during the commercialization process if a sustainable business would be made. In order to justify our opinion, one of our projects was studied as a case study. The key supply chain players for the case study device were interviewed. The results revealed that novelty and clear added value, technology functionality, product functionality, business model, certification/accreditation/sales reference, manufacturing and product’ update and maintenance important factors need to be considered. It was also found that further development of the new technology, pre-commercialization and product’s update and maintenance need to be added to the existing models and university technology transfer guides. At the end, the reasons why people fail to consider these factors were stated and suggestions on how to rectify the situation were given. The participants of this study were the key supply chain players for the case study device. Thus, this paper assists in better understanding of university technology commercialization process.
Commercialization method is a means to make
inventions available at the market for final consumpt... more Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.
Currently, there are numerous scholarly articles on the succession but it is surprising that no o... more Currently, there are numerous scholarly articles on the succession but it is surprising that no or few papers have discussed the awareness of succession and its impacts. Therefore, this study focused on the awareness of the family business owners, the attitude of the owners towards intra-succession as means of business continuity, and how their awareness relate to their preparation for the ownership succession and the continuity of their business. To achieve these, 17 owners were interviewed with different backgrounds, lines of business and generations of Family Business (FB), though they all live in Finland. Interestingly, the results revealed that the awareness relates to succession preparation and the business continuity.
This article examines the challenges in commercializing high technologies successfully and sustai... more This article examines the challenges in commercializing high technologies successfully and sustainably using quantum key distribution (QKD) technology as a case study. Quantum communication is increasingly relevant to cybersecurity and nanotechnology, which will replace current technologies and change the way we live. To understand how such high technology could be successfully commercialized, we interviewed individuals from four metrology institutions and two international companies. The result revealed that scattered and small markets, supply chain development, technology validation/certification, a lack of available or adequate infrastructure, and after-sales services are the most serious challenges facing successful commercialization of quantum communication technology. To validate these challenges, we conducted a survey of 60 experts, 49 of whom agreed that above-mentioned factors could affect the commercialization success of QKD technology. Likewise, the survey revealed that technical development, customer orientation/awareness, and government regulations could also hinder the commercialization of QKD technology.
Presently, there is a need for development of new companies and growth of existing enterprises. L... more Presently, there is a need for development of new companies and growth of existing enterprises. Likewise, there is an academic interest in Lean start-up concept. Hence, this paper investigates how potential entrepreneurs, small business owners and innovators can test and commercialise their business ideas by applying the Lean start-up technique. The main goals of this paper are to present the application of the Lean start-up method in real-life situations and show how the method can be applied by the entrepreneurs. Four small companies were observed for 3 to 5 months and five serial entrepreneurs were interviewed. Similarly, 18 best Finnish start-ups (in 2014) were surveyed. The research results showed that the technique can be used for idea and innovation testing. It was revealed that the technique could be applied to different industries though it was more applicable to technological oriented industries. Similarly, it was noted that the stages of applying the technique depend on the nature and type of product or service, the stage of start-up development and the type of start-up team. Application processes of the technique were summarised and a new process was developed. One of the authors applied the new process and it was proved that the technique could be used to commercialise business ideas.
Despite the fact that there are several scholarly articles and textbooks on commercialization of ... more Despite the fact that there are several scholarly articles and textbooks on commercialization of technology; it seems that few or none of them discuss sustainability of new products or new companies. Based on our observation on the different commercialization projects, it was realized that there were certain factors to be considered during the commercialization process if a sustainable business would be made. In order to justify our opinion, one of our projects was studied as a case study. The key supply chain players for the case study device were interviewed. The results revealed that novelty and clear added value, technology functionality, product functionality, business model, certification/accreditation/sales reference, manufacturing and product’ update and maintenance important factors need to be considered. It was also found that further development of the new technology, pre-commercialization and product’s update and maintenance need to be added to the existing models and university technology transfer guides. At the end, the reasons why people fail to consider these factors were stated and suggestions on how to rectify the situation were given. The participants of this study were the key supply chain players for the case study device. Thus, this paper assists in better understanding of university technology commercialization process.
Commercialization method is a means to make
inventions available at the market for final consumpt... more Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.
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inventions available at the market for final consumption. It is
described as an important tool for keeping business enterprises
sustainable and improving national economic growth. Thus, there are
several scholarly publications on it, either presenting or testing
different methods for commercialization. However, young
entrepreneurs, technologists and scientists would like to know the
best method to commercialize their innovations. Then, this question
arises: What is the best commercialization method? To answer the
question, a systematic literature review was conducted, and
practitioners were interviewed. The literary results revealed that there
are many methods but new methods are needed to improve
commercialization especially during these times of economic crisis
and political uncertainty. Similarly, the empirical results showed
there are several methods, but the best method is the one that reduces
costs, reduces the risks associated with uncertainty, and improves
customer participation and acceptability. Therefore, it was concluded
that new commercialization method is essential for today's high
technologies and a method was presented.
inventions available at the market for final consumption. It is
described as an important tool for keeping business enterprises
sustainable and improving national economic growth. Thus, there are
several scholarly publications on it, either presenting or testing
different methods for commercialization. However, young
entrepreneurs, technologists and scientists would like to know the
best method to commercialize their innovations. Then, this question
arises: What is the best commercialization method? To answer the
question, a systematic literature review was conducted, and
practitioners were interviewed. The literary results revealed that there
are many methods but new methods are needed to improve
commercialization especially during these times of economic crisis
and political uncertainty. Similarly, the empirical results showed
there are several methods, but the best method is the one that reduces
costs, reduces the risks associated with uncertainty, and improves
customer participation and acceptability. Therefore, it was concluded
that new commercialization method is essential for today's high
technologies and a method was presented.