Business Planning vs. Commercialization Planning: No, They're Not the Same!
Business planning
Planning for the start-up and/or continued operation of a business. Involves thinking through the issues of form of ownership, location, facilities, personnel, product(s), marketing, sales and distribution, management, accounting/bookkeeping, etc.
Commercialization planning
Planning for the commercialization of a specific new product or process, with the understanding that "commercialization" includes the full spectrum of activities required to move the new product/process from its conceptual stage to the marketplace.
A commercialization plan focuses on a single new product/process and has a beginning and end. The end comes when the technology either enters the market or is sold or licensed for use by others. In comparison, a business plan focuses on the overall business as an on-going operation.
- In a new business created primarily to develop and commercialize a particular technology, the business and commercialization plans may initially appear very similar, because the business is so dependent on the successful commercialization of the single technology.
- In a more mature business engaged in several different technologies, each technology will ideally have its own commercialization plan, and each commercialization plan will be considered in developing the overall business plan.