1. L12: Business Development Options
EC10 Commercialisation & Innovation
L12: Business Development Options

2. EC10 Commercialisation & Innovation
Outline
Business Models
Predictive Models
Building a Responsive Organisations
Future Patterns of Innovation
L12: Business Development Options

3. EC10 Commercialisation & Innovation
1. Business Models
EC10 Innovation & Commercialisation

4. Innovation Business Models
EC10 Commercialisation & Innovation
Innovation Business Models
Prices altered to persuade customers to purchase more
L12: Business Development Options

5. EC10 Commercialisation & Innovation
2. Predictive Models

6. EC10 Commercialisation & Innovation
“Models describe rather than predict” Storey, 1994
L12: Business Development Options

7. 3. Responsive Knowledge-Based Organisations
EC10 Commercialisation & Innovation
3. Responsive Knowledge-Based Organisations

8. EC10 Commercialisation & Innovation
“If, in the wake of globalisation, financial and manufacturing techniques become ever more capable of imitation, then their competitive advantage is correspondingly diminished in this sort of world, the ability to learn faster than the competition may be the only sustainable advantage.”
Pettigrew, A. and Whipp, R. (1991), Managing Change for Competitive Success, Oxford, Blackwell 
L12: Business Development Options

9. Knowledge & Creativity
EC10 Commercialisation & Innovation
Knowledge & Creativity
The creation of the knowledge driven economy is not some far distant dream. It is all around us. The creativity driving it affects every stage of the manufacturing process. Product design. Innovation. Marketing and after sales service. (Mandelson, P, 1998:31).
L12: Business Development Options

10. EC10 Commercialisation & Innovation
The increasing importance of the knowledge driven economy is an international trend which affects economies at all levels of development. The World Bank (1998) World Development Report
"For countries in the vanguard of the world economy, the balance between knowledge and resources has shifted so far towards the former that knowledge has become perhaps the most important factor determining the standard of living Today's most technologically advanced economies are truly knowledge-based."
L12: Business Development Options

11. Knowledge Driven Economy
EC10 Commercialisation & Innovation
Knowledge Driven Economy
“A knowledge driven economy is one in which the generation and the exploitation of knowledge has come to play the predominant part in the creation of wealth. It is not simply about pushing back the frontiers of knowledge; it is also about the more effective use and exploitation of all types of knowledge in all manner of economic activity. (DTI, 1998)
L12: Business Development Options

12. Knowledge Management Drivers
EC10 Commercialisation & Innovation
Knowledge Management Drivers
Information and Communications Technology (ICT)
Increased speed of scientific and technological advance.
acceleration in the growth of the stock of codified scientific and technological knowledge
Global competition
Reduced communications
Trade & capital liberalisation
Reduced transactions costs
Changing demand
Rising income
Environmental Pressures
DTI, 1998
L12: Business Development Options

13. Impact on Technology Ventures
EC10 Commercialisation & Innovation
Impact on Technology Ventures
Capabilities
Ability to adapt and to embrace change encompassing the exploitation of science and technology, enterprise and innovation, capital markets, people and skills
collaboration,
both within firms in the way they organise themselves and their employees, and between firms in the way they interact in networks and in clusters
competition
increased competitive pressures from more open markets and the growth in foreign direct investment are interacting with the forces driving innovation and increased consumer choice.
L12: Business Development Options

14. DTI Policy Perspectives
EC10 Commercialisation & Innovation
DTI Policy Perspectives
“We need to improve our capacity to create and exploit scientific knowledge and technology successfully.
Securing this improvement, together with the need for greater dynamism in the knowledge driven economy, requires improved enterprise and innovation.
Finance for enterprise depends in turn on well functioning capital markets.
Firms also need access to skilled workers and the successful organisations will be those who make the best use of their people and skills.”
L12: Business Development Options

15. 4. Future Patterns of Innovation
EC10 Commercialisation & Innovation
4. Future Patterns of Innovation

16. EC10 Commercialisation & Innovation4.
“useful knowledge cannot be really said to be created unless it is part of a broader process of knowledge diffusion/distribution. Knowledge creation and diffusion should thus be understood as part of the same process” (OECD, 1997).
L12: Business Development Options