The impact of innovation in technology presented by large firms around the world on the development and commercialization of their inventions can be easily traced by the consideration of specific examples. One of them is the creation of a lithium battery, which became possible after the discovery of scientists regarding this metal’s potential use for this purpose (LeVine, 2020). The portable electronic devices powered by this type of accumulator not only promoted several companies while maintaining their leadership among similar businesses but also enhanced the commercial aspect of the matter.
Thus, the attractive prices of smartphones, combined with their better characteristics, in contrast to lead-acid batteries, defined the demand and thereby increased sales (LeVine, 2020). As a result, all manufacturers had to follow the pioneering companies, and faster development of the technology was explained by the market conditions.
Meanwhile, the process of exploring new possibilities in the field is not a linear one. It implies the shifts in the focus of specialists on particular inventions deriving from the current popularity of one or another product. Therefore, the case of lithium batteries can be considered a side effect of their intention to develop new sources of energy for cars during the oil crises (Nobel prize for chemistry: The lithium-ion battery, 2019).
At the time, the company, which started the initiative, Exxon, as well as other players in the market, did not perceive the outcomes of their professionals’ work as the most suitable option for their goals (Nobel prize for chemistry: The lithium-ion battery, 2019). Hence, the worldwide recognition of these batteries was postponed, and this conclusion confirms the interrelation between enterprises’ policies and efficient commercialization of goods in the innovation ecosystem.
Reference List
LeVine, S. (2020) VW one-ups Tesla with a revolutionary battery breakthrough. Web.
Nobel prize for chemistry: The lithium-ion battery (2019). Web.