Agota Giedrė Raišienė

Faculty of Public Governance and Business, 

Mykolas Romeris University,

Lithuania

agotar@mruni.eu

ORCID 0000-0003-0268-009X

The limits of expert support for business decision-making in commercialization of innovation: A case study

Simonas Juozapas Raišys

Faculty of Public Governance and Business, 

Mykolas Romeris University,

Lithuania

simonas.raisys@bluebridge.lt

ORCID 0000-0001-8983-2580

Abstract. Innovations provide a competitive advantage for modern organizations. However, commercializing innovations can be a significant and costly challenge that requires specific knowledge and considerable resources. Therefore, companies need to prioritize the most significant ones. Responding to the relevance, the article examines enablers of innovation commercialization. In the study, innovation experts, including business consultants and professionals, gave priority to theoretically based factors of innovation commercialization using AHP and RII methods. The study found that expert decision support is limited in helping to make decisions. Experts agree on the least significant factors of innovation commercialization but disagree on the priority ones. Furthermore, the study demonstrates that the level of ambition within an organization's activities is a crucial factor in determining the priority of innovation commercialization. These results invite a fresh perspective on the expert assistance.

Received: October, 2023

1st Revision: April, 2024

Accepted: April, 2024

DOI: 10.14254/2071-8330.2024/17-2/3

JEL Classification: L21, D8, O31

Keywords: innovation commercialization, expert support, business decision-making, key factors, innovation management