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Why good ideas and good science do not always make it into the marketplaceAuthor(s): Charles R. Frihart
Source: Proceedings : International Conference on Transfer of Forest Science Knowledge and Technology. Portland, Or. : U.S. Dept. of Agriculture, Forest Service, Pacific Northwest Research Station, 2007. General technical report PNW ; GTR-726: pages 83-92.
Publication Series: Miscellaneous Publication
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DescriptionGood ideas and good science are not sufficient in and of themselves for successful commercialization of new technology. Understanding the barriers to commercialization so that ways around, under, over, or through them can be found is also crucial to success. Barriers can include market needs, technology push versus market pull, availability of a window of opportunity, economics, and risk aversion. A good starting point is to understand how the technology will fit in with a potential customer’s operation. Pushing technology usually is not successful because of customer concerns about new products and processes; however, semitechnical education of the end user is an effective way to build market pull. Evaluating the economics of new technology is important not only to comprehend the potential of the new technology, but also to understand the most effective use of resources in the technology development. Risk aversion on the part of the customer often overrules the potential economic benefits of a new technology in the decision making process. To address these issues, many corporations have established stage-gate and portfolio-management processes. These concepts can be used effectively even without the establishment of a formal process. Both successful and unsuccessful new products and new processes are provided to illustrate these issues and the ways to solve them.
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CitationFrihart, Charles R. 2007. Why good ideas and good science do not always make it into the marketplace. Proceedings : International Conference on Transfer of Forest Science Knowledge and Technology. Portland, Or. : U.S. Dept. of Agriculture, Forest Service, Pacific Northwest Research Station, 2007. General technical report PNW ; GTR-726: pages 83-92.
KeywordsBarriers, economics, risk aversion, technology push, market pull, stage-gate, risk assessment, technological innovations, economic aspects, forest products industry, technology transfer, economic forecasting, forecasting, consumption, marketing, forest products, market surveys, supply and demand
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