A Review on Determinants Affecting Commercialization of Academic Institution Final Year Projects

Lan Xin(City University Malaysia)
Bin Zainudin Zaheril(Sichuan University of Media And Communication)

Abstract

Final year project is an important training and assessment component incorporated in many courses of academic institution. The ability to translate ideas, research, and creativity into actual products, services, or businesses shows how successful and impactful people or institutions can be in the wider economy. However, in most of the cases, the outcomes of the final year project usually remain as academic discussion without maximizing their potential to be converted into a commercialized product or services. In this review, theory and applications are discussed to understand how entrepreneurial skills and networking abilities, components of individuals' human capital can impact the commercialisation of final year projects. Furthermore, determinants affecting commercialization of final year projects will also be explored namely: entrepreneurial skills, networking ability, access to resources, institutional support as well as creativity and innovation. 

Keywords

Commercialization; Final Year Projects; Entrepreneurship ; Institution Support; Network; Resources

References

Alexy, O., West, J., Klapper, H., & Reitzig, M. 2018. Surrendering control to gain advantage: Reconciling openness and the resource‐based view of the firm. Strategic Management Journal, 39(6): 1704-1727.

Andoni, M., Robu, V., Flynn, D., Abram, S., Geach, D., Jenkins, D. P., McCallum, P., & Peacock, A. 2019. Blockchain technology in the energy sector: A systematic review of challenges and opportunities. Renewable and Sustainable Energy Reviews, 100: 143-174. https://doi.org/10.1016/j.rser.2018.10.014

Arici, H. E., & Uysal, M. 2022. Leadership, green innovation, and green creativity: A systematic review. The Service Industries Journal, 42(5-6): 280-320.

Aquino, R. S., Lück, M., & Schänzel, H. A. 2018. A conceptual framework of tourism social entrepreneurship for sustainable community development. Journal of Hospitality and Tourism Management, 37: 23-32.

Ayodele, T. O., Babalola, M. O., Kajimo-Shakantu, K., Olaoye, O. W., & Lawale, R. 2021. Entrepreneurial intentions of real estate students: an ordinal analysis of the predictors. Journal of Facilities Management, 19(1): 53-79.

Biancone, P., Calandra, D., Lanzalonga, F., & Sadraei, R. 2022. Emerging markets and multiple sectors for entrepreneurship: a multidisciplinary and multi-stakeholder analysis. In International entrepreneurship in emerging markets (pp. 7-28). Routledge.

Biwer, F., Wiradhany, W., Oude Egbrink, M., Hospers, H., Wasenitz, S., Jansen, W., & De Bruin, A. 2021. Changes and adaptations: How university students self-regulate their online learning during the COVID-19 pandemic. Frontiers in psychology, 12: 642593.

Bratton, J., Gold, J., Bratton, A., & Steele, L. 2021. Human resource management. Bloomsbury Publishing.

Burbano, V. C., Mamer, J., & Snyder, J. 2018. Pro bono as a human capital learning and screening mechanism: Evidence from law firms. Strategic Management Journal, 39(11): 2899-2920.

Chang, Y. Y., & Chen, M. H. 2020. Creative entrepreneurs’ creativity, opportunity recognition, and career success: Is resource availability a double-edged sword? European Management Journal, 38(5): 750-762.

Concilio, G., Li, C., Rausell, P., & Tosoni, I. 2019. Cities as enablers of innovation. Innovation Capacity and the City: The Enabling Role of Design, 43-60.

D’Armagnac, S., Al Ariss, A., & N’Cho, J. 2022. Talent management in turbulent times: Selection, negotiation, and exploration strategies for talent management in the aeronautics and space industries. The International Journal of Human Resource Management, 33(13)： 2767-2799.

Davies, A., Manning, S., & Söderlund, J. 2018. When neighboring disciplines fail to learn from each other: The case of innovation and project management research. Research Policy, 47(5)：965-979.

Densford, M. O., James, R., & Ngugi, L. 2018. Effect of project resource mobilization on performance of road infrastructure projects constructed by local firms in Kenya. International Journal of Economics, Business and Management Research, 2(1)： 99-109.

De Sousa, N. F. S., Perez, D. A. L., Rosa, R. V., Santos, M. A., & Rothenberg, C. E. 2019. Network service orchestration: A survey. Computer Communications, 142：69-94.

Donnellan, J., & Rutledge, W. L. 2019. A case for resource‐based view and competitive advantage in banking. Managerial and Decision Economics, 40(6)：728-737.

El Daly, N. 2020. Towards an understanding of the sources of sustainable competitive advantage: A literature review and conceptual framework. In Sustainable Development and Social Responsibility—Volume 1: Proceedings of the 2nd American University in the Emirates International Research Conference, AUEIRC'18–Dubai, UAE 2018 (pp. 299-316). Springer International Publishing.

Jafari-Sadeghi, V., Nkongolo-Bakenda, J. M., Dana, L. P., Anderson, R. B., & Biancone, P. P. 2020. Home country institutional context and entrepreneurial internationalization: the significance of human capital attributes. Journal of International Entrepreneurship, 18： 165-195.

Guan, W. 2023. Analysis of Music Education Management Mode in Colleges and Universities in China. Frontiers in Educational Research, 6(5).

Gulamov, A. A., Ozatbekov, Y. F., & Ozatbekova, O. N. 2022. Innovation-oriented way of development of a modern university. Journal of new century innovations, 15(3): 53-59.

Guillory, D. 2020. Combating anti-blackness in the ai community. arXiv preprint arXiv:2006.16879.

Hanson, J. 2021. Best practices for mentoring in arts entrepreneurship education: Findings from a delphi study. Entrepreneurship Education and Pedagogy, 4(2): 119-142.

Helfat, C. E., Kaul, A., Ketchen Jr, D. J., Barney, J. B., Chatain, O., & Singh, H. 2023. Renewing the resource‐based view: New contexts, new concepts, and new methods. Strategic Management Journal.

Hicks, J., & Ison, N. 2018. An exploration of the boundaries of ‘community’in community renewable energy projects: Navigating between motivations and context. Energy Policy, 113: 523-534.

Hung, C. S., Chen, T. L., & Lee, Y. C. 2021. From Cultural Heritage Preservation to Art Craft Education: A Study on Taiwan Traditional Lacquerware Art Preservation and Training. Education Sciences, 11(12): 801.

Hutchison, L., & McAlister-Shields, L. 2020. Culturally responsive teaching: Its application in higher education environments. Education Sciences, 10(5): 124.

Jafari-Sadeghi, V., Nkongolo-Bakenda, J. M., Dana, L. P., Anderson, R. B., & Biancone, P. P. 2020. Home country institutional context and entrepreneurial internationalization: the significance of human capital attributes. Journal of International Entrepreneurship, 18: 165-195.

Khanra, S., Kaur, P., Joseph, R. P., Malik, A., & Dhir, A. 2022. A resource‐based view of green innovation as a strategic firm resource: Present status and future directions. Business Strategy and the Environment, 31(4): 1395-1413.

Lee, L., Lin, Z., Hu, R., Gong, Z., Kumar, A., Li, T., Li, S., & Hui, P. 2021. When Creators Meet the Metaverse: A Survey on Computational Arts. ArXiv, abs/2111.13486.

Mei, W., & Symaco, L. P. 2021. Higher education for development: The role of University Towns in China. SAGE Open, 11(3): 21582440211046586.

McGahan, A. M. 2021. Integrating insights from the resource-based view of the firm into the new stakeholder theory. Journal of Management, 47(7): 1734-1756.

Mkhize, T. R. 2018. Resource mobilisation for the sustainability of schools within rural context: voices of school stakeholders at UMzimkhulu circuit in Harry Gwala District Municipality (Doctoral dissertation).

Newman, C., Edwards, D., Martek, I., Lai, J., Thwala, W. D., & Rillie, I. 2021. Industry 4.0 deployment in the construction industry: a bibliometric literature review and UK-based case study. Smart and Sustainable Built Environment, 10(4): 557-580.

Park, N. K., Jang, W., Thomas, E. L., & Smith, J. 2021. How to organize creative and innovative teams: creative self-efficacy and innovative team performance. Creativity Research Journal, 33(2): 168-179.

Paulsen, R. J., Alper, N., & Wassall, G. 2021. Arts majors as entrepreneurs and innovators. Small Business Economics, 57(2): 639-652.

Peng, L., Xu, D., & Wang, X. 2019. Vulnerability of rural household livelihood to climate variability and adaptive strategies in landslide-threatened western mountainous regions of the Three Gorges Reservoir Area, China. Climate and Development, 11(6): 469-484.

Perry, E. J. 2020. Educated acquiescence: How academia sustains authoritarianism in China. Theory and Society, 49(1): 1-22.

Rodríguez-Insuasti, H., Montalván-Burbano, N., Suárez-Rodríguez, O., Yonfá-Medranda, M., & Parrales-Guerrero, K. 2022. Creative Economy: A Worldwide Research in Business, Management and Accounting. Sustainability, 14(23): 16010.

Saikouk, T., Fattam, N., Angappa, G., & Hamdi, A. 2021. The interplay between inter-personal and inter-organizational relationships in coordinating supply chain activities. The International Journal of Logistics Management, 32(3): 898-917.

Sellar, S., & Zipin, L. 2019. Conjuring optimism in dark times: Education, affect and human capital. Educational Philosophy and Theory, 51(6): 572-586.

Shan, J., & Shan, A. 2023. Exploring internationalisation of higher education: Chinese postgraduate students’ oral participation in English during their experience at a UK university.

Shkabatur, J., Bar-El, R., & Schwartz, D. 2022. Innovation and entrepreneurship for sustainable development: Lessons from Ethiopia. Progress in Planning, 160: 100599.

Tamm, T., Hallikainen, P., & Tim, Y. 2022. Creative analytics: Towards data‐inspired creative decisions. Information Systems Journal, 32(4): 729-753.

Ullah, M. S., Akhter, S., Aziz, M. A., & Islam, M. 2023. Social support: mediating the emotional intelligence-academic stress link. Frontiers in Psychology, 14.

Wang, Z., Zaman, S., Rasool, S. F., Zaman, Q. U., & Amin, A. 2020. Exploring the relationships between a toxic workplace environment, workplace stress, and project success with the moderating effect of organizational support: Empirical evidence from Pakistan. Risk management and healthcare policy, 1055-1067.

Weking, J., Brosig, C., Böhm, M., Hein, A., & Krcmar, H. (2018). Business model innovation strategies for product service systems–an explorative study in the manufacturing industry. In Twenty-Sixth European Conference on Information Systems (ECIS 2018) Portsmouth, UK.

Werdhiastutie, A., Suhariadi, F., & Partiwi, S. G. 2020. Achievement motivation as antecedents of quality improvement of organizational human resources. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 3: 747-752.

Wright, C., Ritter, L. J., & Wisse Gonzales, C. 2022. Cultivating a collaborative culture for ensuring sustainable development goals in higher education: An integrative case study. Sustainability, 14(3): 1273.

Wright, P. M. 2021. Rediscovering the “Human” in strategic human capital. Human Resource Management Review, 31(4): 100781.

Wujarso, R., & Dameria, R. 2023. Human Capital Management as a Resource in Achieving Competitive Advantage. Asadel Publisher.

Yao, W., Wang, Y., & Fu, G. 2023. Managerialism, Educational Equity, and Professional Development of Teachers: A Case of Grouplized Schools. In Beyond the Pandemic Pedagogy of Managerialism: Exploring the Limits of Online Teaching and Learning (pp. 161-188). Cham: Springer Nature Switzerland.

Zaheer, H., Breyer, Y., Dumay, J., & Enjeti, M. 2022. The entrepreneurial journeys of digital start-up founders. Technological Forecasting and Social Change, 179: 121638.

Zahra, S. A. 2021. The resource-based view, resourcefulness, and resource management in startup firms: A proposed research agenda. Journal of Management, 47(7): 1841-1860.

Zheng, S. 2021. Process drama in Chinese education: Possibilities and challenges in governmental policy papers and the curriculum of moral education. Applied Theatre Research, 9(2): 155-172.

DOI: http://dx.doi.org/10.26549/jsbe.v7i2.19161