Download This PaperSmart Business and the Emerging Nanomarket
American Based Research Journal, Vol. 6 Issue 12, December 2017
12 Pages Posted: 9 May 2020
Date Written: December 01, 2017
Abstract
This paper uses nanotechnology and its advancement to map the emerging nano-market with new business environment after the careful review of available literature and resources. The global economy in the present century is driven by nanotechnology. Nanotechnology is a field of science and engineering that deals with structures having less than 100 nano-meters. A nano-meter is one billionth of a meter (10-9 Meter). Its advancement particularly in molecular nanotechnology for mass production will change the production function with bottom up approach giving scope to the new business environment. It also focuses on nano-production function which is a gateway of nano-market. It demonstrates the power of nanotechnology to bring about changes in production, business and marketing activities using nano-materials as inputs and novel products as output in the emerging nano-market. The business environment is a combination of internal and external factors that influences on company's operating situation covering ; improvements in technology competition, clients and suppliers, laws and government activities , marketing and business trends. It also shed light on nano-production function with bottom up approach using nano-material for industrial applications and goods and services for consumer world. The knowledge about nanotechnology and nano-production is need for business decisions . The role of superior human and organizational capabilities is identified to manage production and its related activities in the emerging nano-business environment. The present study identifies the issues of nano-production function , R and D investment from private and public sector, creating infrastructure for nanotechnology, nano-education and training, venture capital, convergence technology, listing of nano-materials and nano-products to develop database, international cooperation for transfer of technology in the emerging nano-business environment and concluded to establish a common platform of entrepreneurs, nano-scientists, market experts, economists and policy makers to discuss and address issues of nanotechnology in the new business environment.
Keywords: Nanotechnology, Nano-materials, Nano-production Function, Novel Products, Convergence Technology, Nano Scale Operations, Nano-sensors, Nano-market, Nano-business Environment.
Suggested Citation: Suggested Citation