Investigating the role of firm resources and environmental variables in new product commercialization

Abstract

Purpose -The purpose of this paper is to explain the role of firm resources and environmental variables for pursuing new product commercialization in high-tech markets. Design/methodology/approach -The research design employed for the study consisted of both exploratory and descriptive phases. To begin with, a focused literature review was performed to develop a theoretical framework with seven research hypotheses, which was then empirically validated through a carefully executed survey conducted on the products managers of high tech firms. Findings -The study results have supported six research hypotheses, viz. technology acquisition intent (TAI) to new product commercialization relationship, direct influence of dominant design, market heterogeneity, and network externalities on the firm's TAI relationship. The results of hierarchical regression analysis indicated that the "dominant design to TAI" and the "network externalities to TAI" relationships are significantly moderated by firm resources. However, the "market heterogeneity to TAI" relationship is found to be not moderated by firm resources. Practical implications -Findings of the study have significant implications to extant product management theory and practice. The study highlights the most important environmental variables in high-tech markets that act as antecedents to a firm's TAI and the effect of TAI on new product commercialization. Further, the study reveals the differential effects of these antecedent variables across firms owing to the varying levels of resource availability. Originality/value -The paper reports the significant outcomes of an important study on product management that attempted to establish the linkages across environmental variables, firm resources, and firm's technology strategy in pursuing the new product commercialization.

The supporting role of business models in the promotion of sustainable innovations in the energy sector: an explorative study in the Italian SMEs

“…The lack of a formalized plan for product innovation and technology development hinders the NPD stage-gate model that could support the commercialization of new products (see Cooper, 2019;Crawford and Di Benedetto, 2008). The literature on NPD specifically suggests developing a marketing plan before deploying the whole NPD process to adapt the product to the users' requirements and effectively market it (Saji and Mishra, 2013). The study findings mirror the "innovation inertia" that has been highlighted as one of the main challenges in the SMEs' innovation processes (see Carter and Jackson, 2019).…”

Impact of inter-organizational and extraorganizational factors on the policies of Science and Technology Parks in emerging economies

“…The summarized results are given in Table 1. (Kostka, 2014;Mu & di Benedetto, 2011;Wasim, 2014) Obstacles to entry/deregulation, access to foreign markets, transfer of technology, private demand requirements, supply regulations Policymaking for creating business opportunities (Bergek et al, 2015;Prodan, 2007;Saji & Mishra, 2013;Silva et al, 2020;UNCTAD, 2017) Loans, tax on wealth and heritage, business angels, venture capital, tax on fortune, stock market and corporate buyout Policymaking for attracting investment (Aarikka-Stenroos & Sandberg, 2012;Seyoum, 2004;Zaridis & Mousiolis, 2014) Traditional business training, entrepreneurship, restart Policymaking for developing capacity and capability (O'shea et al, 2004;Smith & Larimer, 2017;Teece, 2010) Entrepreneurship infrastructure (public), entrepreneurship infrastructure (private) Policymaking for infrastructure (Bali & Zarea, 2018;Padilla-Pérez & Gaudin, 2014;Shaw & Allen, 2018) Tax on private income, tax on businesses and fiscal incentives, social security, administrative responsibilities, labor market rules, bankruptcy rules Policymaking for creating incentives (Bergek et al, 2015;Gibb & Hannon, 2006;Jack et al, 2009;Machnik-Słomka & Kordel, 2016) Entrepreneurial motivation, special incentives, communication with legends Policymaking for culture and otivation 2.2. Intra-organizational factors and S&T park policy Bigliardi et al (2006) believe that science parks follow various objectives depending on the impact on the organization and the region.…”

“…The results are then summarized in Table 2. (Allameh et al, 2011;Caruth & Handlogten, 1988;Hendricks, 2015) Identification, exploration, creation and exploitation of opportunity, management of knowledge, capital budgeting, education changes management, capacity of absorbing specialized forces Organizational (Guadix et al, 2016;Markman et al, 2008;Rust, 2015) R&D entities at private companies, research institutes supporting state-universities, institutions supporting intellectual property rights, industrial and academic facilitators, scientific research institutes, supporters of commercialization process, financial sponsors Legal (Petti & Zhang, 2011, 2013Saji & Mishra, 2013) Innovative financial mechanisms, innovative marketing mechanisms, innovative rewarding mechanisms, government regulation policies, global concerns on environment; significance and necessity, knowledgebased industries and their growing role in economy…”

Predictors of Commercialization Success in Product Innovation: A Systematic Research

“…Meanwhile, according to [69], the characteristics of innovation are patent, commercial uncertainty, technology dynamism, and complementary assets. In addition there are several authors that also discussed the details on the other elements of innovation characteristics (e.g., [2]; [3]; [7]; [15]; [18]; [19]; [28]; [32]; [34]; [38]; [41]; [46]; [47]; [48]; [62]; [66]; [68]; [69]; [70]; [72]; [71]; [73]; [74]; [76]; [81]; [82] ; [87]; [90]; [91])…”