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Commercialisation is the process of turning something into a product or service. The following are common examples.ArtArt is often pursued for art's sake. That is to say, that art such as painting, sculpture, music and film is often driven by creative instinct as opposed to commercial intent. As such, commercialisation has somewhere negative connotations in creative professions.
GovernmentGovernments are typically designed to protect, preserve and improve the quality of life of communities. This is very different from the profit motive that drives the private sector. Nevertheless, it is common to commercialize certain government operations with techniques such as outsourcing.The term commercialization is often applied to the process of identifying internal business capabilities such as technologies, processes and knowledge that have potential to be a product.
Innovation differs from traditional product development in that it involves testing out a large number of ideas. In the context of innovation, commercialization is the process of selecting a prototype or business experiment for product development.|
Type | | Definition | The process of turning something into a product or service. | Also Known As | Commercialization | Related Concepts | |
Innovation
This is the complete list of articles we have written about innovation.
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A basic problem solving strategy that involves an iterative process of experimentation.
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