Analysis of external business factors for OLED development research
ENPurpose – purpose of this paper is to analyse the external business factors influencing the OLED technology’s market. Design/methodology/approach – in order to implement the main aims of the research, analysis of the managerial approach to the synthesised product in the KTU, Faculty of Chemical Technology and it’s influenced by the market was carried out in addition to that the analysis of the external business factors that affect the product with respect to the market were also done. The external factors which will be reflected upon are the Economic, Legal, Social and Political factors. Findings – Economically the global OLED lighting market is reaching a $8 billion by the year 2020 in the mean while the price of the materials are supposed to drop drastically too which shows that the chance of the OLED lighting system to replace the CFL and LED technologies is quite high in turn encouraging our current research to achieve these goals. Although legally the eco design and product safety factors are yet to be carried out, it will be happening soon. This is not stopping the current number of patents in this field reaching a 1707 in number as of present although increasing daily. As far as patency is concerned it would be quite easy for our lab material products to be patent at the EU patency departments. While looking at the environmental and technical aspects of the OLED lighting technology currently it’s showing superior characteristic in relation to its competing technology. Finally socially this product show quite low health risk while this disruptive technology can offer new jobs and portray the dynamic capabilities of a company. The OLED lights in the near future is going to be cheaper than currently so will surly become a common commodity in the lives of common people.Research limitations/implications – the research was carried out in accordance with the current research in the KTU, Faculty of Chemical Technology the product of the research obtained currently from the synthesis and construction of OLED materials and devices. The currently obtained product is in direct relation with the OLED lighting market. Although in the future alternative products capable to target other OLED markets also can be made but study for the alternative fields have not been conducted. Practical implications – this research represents the possibility of the OLED lighting market to be successful and target potential customers. Also this research shows that the current research will be cheaper and affordable by common public. Originality/value – this research is a fusion of both technology and management. Only while understanding the technology a management overview of it can be drawn clearly. Realizing firstly the external factors affecting OLED lighting business, further research can be carried out with respect to the target stake holders and also the research facility can decide the kind of research they wish to carry out in accordance with the market. Research type – research paper.
