AMPMGT806
Commercialise research and technology product or idea


Application

This unit describes the skills and knowledge required to undertake the fundamentals of product/idea commercialisation. It describes the process from conception to launch to full production.

Competency requires developing the skills and knowledge to successfully research, analyse, cost and develop a business opportunity for a product/idea. This unit also describes the skills required to manage commercialisation and evaluate product success.

This unit applies to leaders or managers responsible for developing a commercialisation strategy for an innovative product or technique, which has been developed through research.

Leaders undertaking product commercialisation must investigate and negotiate the legal and partnership implications of commercialisation, undertake market testing and develop commercialisation strategies.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.


Elements and Performance Criteria

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Investigate commercialisation options

1.1 Describe product/innovation to be commercialised

1.2 Analyse innovation alignment against organisation's innovation objectives

1.3 Research, analyse and test market opportunities

1.4 Investigate optimum business structure and funding options

2. Develop commercialisation proposal

2.1 Determine resourcing requirements

2.2 Develop marketing plan

2.3 Determine supply chain strategy

2.4 Determine strategies for managing Intellectual Property (IP)

2.5 Determine environmental sustainability of proposed product/idea

2.6 Develop risk mitigation plan

2.7 Negotiate proposal modifications with key stakeholders

3. Prepare for implementation

3.1 Develop project implementation plan

3.2 Determine monitoring process

3.3 Establish and develop required business processes

3.4 Assemble project team

Evidence of Performance

Candidates must undertake the fundamentals of product/idea commercialisation from conception to launch to full production.

Candidates must demonstrate ability to:

analyse market trends

budget, including forecasting, capacity and asset analysis, setting targets and compliance mechanisms

negotiate licensing IP (in and out), contractual supply chain arrangement and partnerships

use communication skills to:

maintain appropriate relationships with colleagues and others

value and be open to the opinions of others

work as part of a team

model collaborative communication and learning

use active listening and negotiation skills

present and negotiate proposals

seek opinions and feedback from a range of stakeholders

develop plain English texts desling with complex ideas and concepts

generate and evaluate ideas by analysing information and concepts at an abstract level

provide strategic leadership during change and negotiation processes

use problem-solving, initiative and enterprise skills to:

direct, motivate, consult and delegate appropriately

collect, analyse and interpret data using a range of methods

shape strategic thinking and inspire others with a shared vision

work with teams with diverse emotional intelligence and cognitive ability

provide leadership in workplace health and safety practice, ethical standards and legislative requirements

review own personal and professional competence against personal development objectives

support and use participative arrangements aimed at establishing trust

to develop, negotiate and structure an agreed commercialisation strategy

to apply leadership style and approach appropriate to individuals involved, outcomes being sought and contextual factors


Evidence of Knowledge

Candidates must demonstrate specialised and integrated technical and theoretical knowledge of:

relevant legislation

business strategies and legal requirements underpinning trademarks, copyright and patents

legal requirements underpinning partnership arrangements, contracts and taxation

commercial environmental analysis techniques, including Strengths, Weaknesses, Opportunities, Threats (SWOT)/TOWS

market testing strategies and techniques

strategies for analysing and assessing the upstream and downstream implications of an innovation

risk assessment strategies and techniques

team selection, management and support strategies

environmental sustainability principles


Assessment Conditions

Competency must be demonstrated through sustained performance over time, at an appropriate level of responsibility and under typical operating and production conditions for the enterprise.

Assessment must ensure:

access to an actual workplace or simulated environment

assessment over a sufficient timeframe to allow holistic assessment of the candidate's capacity to lead the development of a commercialisation strategy

resources normally used in the workplace, including organisational policies and procedures, and relevant legislation

access to stakeholders, potential partners and clients

Assessors must satisfy current standards for RTOs.


Foundation Skills

Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.


Range Statement


Sectors