Approaches to the Formation of a System of Evaluation Indicators for Analysing the Effectiveness of the Commercialisation Chain

Abstract

Shorter product lifecycles, new product introductions, increased competition, the emergence of new markets and ever-changing consumer needs are forcing companies to bring new products to market. However, not all innovative solutions are commercially successful. At the same time, there are many systems for assessing the effectiveness of the commercialisation chain that would meet the needs of companies in different sectors. The aim of the work is to systematise evaluation indicators and to develop recommendations that can be useful in forming a system of evaluation indicators for analysing the effectiveness of the commercialisation chain. Currently, there are various approaches to the evaluation of innovation commercialisation. Researchers base them on indicators grouped according to specific criteria with certain weights. The company can choose one of these approaches or develop its own. At the same time, they need to consider the following points. When creating a system of evaluation indicators, it is advisable to use as many indicators as are most relevant to the organisation's objectives. When creating this set of indicators, one should consider different aspects (effects) of commercialisation. It is better to focus on objective indicators (indices); however, in their absence and the need to calculate indicators with different units of measurement, there is a need for their normalisation. When determining the weights of groups and individual indicators, in order to achieve greater objectivity, it is possible to use simultaneously the methods of balancing, weighting and general category weighting. After calculating the integral indicator, it is necessary to check its adequacy using various methods and to compare its value in different scenarios. The data approach to the development of the system of evaluation indicators for the analysis of the effectiveness of the commercialisation chain will contribute to the formation of a sufficiently objective evaluation system that takes into account the various impacts of commercialisation (economic, market, social, environmental, and so forth).