This study mainly investigates key factors that influence on successful commercialization by the real-life case studies, which seized new business opportunities coping with external factors and internal dynamic capabilities.
Interviews with two selected biotechnology companies, which concentrates in veterinary drugs and biomaterials for cosmetics, followed by detailed literature search took place to underpin the thesis that lead to the final results analysis, which was implemented based on the integrative perspective combining external factors and internal dynamic capabilities and analysis comparing the two companies.
It has come to conclusion that securing outstanding technology and demand-oriented product development are crucial points in regards of successful commercialization. Noticeable differences between the two companies' success factors are that one of them focused on the advance preparation process for seizing new opportunities based on systematical sensing of external factors whereas the other company concentrated on securing collaborative network for external marketing.
Based on analysis on the two companies' specific case studies, four (4) key research hypotheses are drawn up as follows:
1. Importance of pursuit of new business opportunity over sensing external factors
2. Importance of securing excellent technology in order to seize new business opportunity
3. Importance of securing business capabilities from other companiese during commercialization process, in case of new ventures
4. Importance of product development that meets the market demand.
These research hypotheses assemble together at the end and ultimately propose the significant implications on successful commercialization.