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RE: Innovation Does Not Guarantee Commercial Success

Author:Sameer Panda
Posted Date: 5/24/2010 4:11:07 PM

Posted by Abhanand Bhoi on 5/24/2010 4:09:25 PM: I think, innovation does not guarantee commercial success and rather large number of barriers to adoption in the marketplace; the amount of commercial skill and effort that successful new product or process is frequently undervalued by the originator of the technology. There are also many different routes to market. Selection of the optimum route requires diligent business research and planning. Without such planning, limited success may be achieved but the most likely results will be losses of time, effort and money.
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Commercial Success is a bull which rides on many factors and one of them being Innovation. So, innovation alone cannot guarantee commercial success.

However, innovation does not involve only technological innovation, it can be business strategy innovation, manufacturing process innovation and innovative way to deal with funds as well. So, taken together innovations can increase the possibilities of commercial success.

One smart inventor needs a smart business man to make it a commercial success.