Analysis of Innovation and Open Data Envelopment

This assignment involves analyzing the concept of innovation and its relationship with open data envelopment. It requires the student to provide a detailed overview of the key concepts, including systems of innovation, open innovation, and the design of innovation. The student is also expected to discuss the future perspectives of open innovation and its implications for business models and strategy. Additionally, the assignment includes a bibliometric analysis of innovation and commercialization pathways in nanotechnology, as well as an overview of past research on innovation and entrepreneurship. The student must provide a detailed summary of the key findings and recommendations from these studies.

Innovation and
Commercialization

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK1.............................................................................................................................................1
P1 Concepts of innovation and its importance to enterprise in comparison with invention.......1
P2 Organisational leadership, vision, teamwork can shape commercialisation and innovation.3
TASK2.............................................................................................................................................5
P3 4Ps of innovation and the use of innovation funnel...............................................................5
P4 Development in frugal innovation and its used in the context of organisational...................6
TASK3.............................................................................................................................................7
P5 Importance of commercial funnel and the application of new product development............7
P6 Innovation business case for an enterprise, including funding ways.....................................9
TASK 4..........................................................................................................................................10
P7. Different tools which used to develop, retain and protect intellectual property rights.......10
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12
.......................................................................................................................................................13

INTRODUCTION
Innovation is identify as an effective process of translating an invention or idea into a
service and products that develop value of for which clients will pay. It is also define as an
activity of implementing innovative plans in order to create a better value for an enterprise. This
may mean developing a new system, service, process and improving existing ones. Innovation is
more essential and important factor for the all business to maximise their sales and profit in an
effective manner (Chesbrough, 2010). It is also beneficial for the enterprise to maximise their
profitability and productivity ratio in systematic manner. In this report chosen organisation is
Unicorn Grocery, it is a small size organisation in United Kingdom. This assignment divided into
different parts including meaning of innovation, its importance and difference between invention
and innovation. Organisational vision, leadership and teamwork of the company is also analysed
in this study. 4P's of innovation, significance of commercial funnel, application of new product
development. Innovation business case and different techniques which is used to develop
intellectual property rights, it is also included in this assignment.
TASK1
P1 Concepts of innovation and its importance to enterprise in comparison with invention
Concept of innovation: Innovation is the activity of organisations and people to change
themselves as well as environment also. It means breaking dominant and routines ways of
thinking, informing behaviours and new thinks, launching unique standards. In order to applying
innovation in the business activities and functions, company can easily gain competitive
advantages in limited time period. Thus, it is more essential and valuable for the company to
maintain strong position at marketplace.
There is a difference between invention and innovation. Both are important aspects for
the business entity to maximise their sales and turnover within predetermined period of time
(Chun and et. al., 2015). Innovation supports with transferring such products and services that
completely meets with customer requirement and wants. In this Unicorn Grocery needs to
improve their product and service quality which help them to attract large number of customers
easily. For example: as per the Virgin and Apple group case study, both are perpetually doing
innovation or creation in their electronic items just to rule the marketplace. Freshly, Apple
establish X series, it is a innovation and in which they followed most powerful and smartest chip
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in the marketplace. Screen of such products has been radically reinnovated so as to develop it
eye-catching and more attractive. On the other side, in the business operations and function of
Unicorn Grocery, innovation or creativity is going to yield place in the way of launching and
establishing its own effective mobile application. The enterprise has concluded that, recently
80% (Approx.) of the population chose to buy products via online website. Therefore, the
requirement for implementing own mobile usage emerges (Cunningham and Porter, 2011).
Further, it is the role of administration in order to take an effective decision about launching
attractive and quality mobile application so that efforts, energy and time of the organisation as
well as its clients can be decreased. Innovation is more important and significant for the
organisation which are determined as below:
Maximise the productivity of organisation: Innovation in the Unicorn Grocery help the
business to attract large number of customers as well as increase their effectiveness within
predetermine period of time. For this purpose, company innovate in their products and service
including: providing online facilities, home deliver, changes in the products verity and many
other. All these are show as a part of business development and success at international level.
Staff motivation: In order to apply advanced technology in the business activities and
functions which support the employees to work easily (Dahlander and Gann, 2010). Thus it
highly motivated and encouraged them to improve their reputation globally. For achievement of
this, business entity follow different kind of motivation theories.
Saving time and money: Utilisation of advanced and new technology in the company, it
save the business time as well as cost also. Thus, it is important for the development and success
of business in limited time period.
Difference between innovation and invention: There are certain difference in between
innovation and invention which are explained as below:
Basis Innovation Invention
Meaning It is the transformation of
creative plans into valuable
applications by combining
resources in unusual and
unique form to render value to
people through enhanced
Invention is identify as a
creation of innovative
technologies, processes or
products not previously
understand to exist (Difference
between Invention and
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services, technology and
products.
Innovation, 2016).
Based on Innovation mainly based on a
broad set of marketing,
strategic, technical and
operational skills.
Invention is totally based on
primarily scientific skills.
P2 Organisational leadership, vision, teamwork can shape commercialisation and innovation
Unicorn Grocery is a type of worker co-operative grocery store which is headquartered in
Chorlton-cum-Hardy, Manchester, England. In democratically, such type of business is
controlled and managed by its owner or managers who establish the business entity with a flat
management structure (Drucker, 2014). It was founded in 1996 with motive to gain maximum
amount of the capital in limited time period. In the business, approximately 70 employees are
working and having motive is to maximise sales and revenue of company. They sells dried,
processed and fresh drink and food, much of it organic with an emphasis on fairtrade and local
sourcing. They also deals in bodycare, household and many general grocery products. Price of
the business products are classified as per its quality as well as quantity. The thinking about
doing this innovation and invention is on the place that is available day time, large number of the
populations wants to buy merchandise and grocery products through online stage. Teamwork,
vision and leadership of the company can shape innovation and commercialisation which are
explained as below:
Commercialisation: It is important and significant part for the each and every company
to distinguish problem first that are arising in the company and are needed to be overcome
immediately. If it is not solved them effectively business face adverse impacts in its performance
and profitability negatively. In order to identify main issue in the business, company require to
apply various sources that assist in dealing with difficult situation easily (Edquist, 2010). After
gathering necessary information, development and product designing takes a better place.
Another phase consider inspecting and testing of innovation or creation that will provide
specified data or information worried regarding product price.
Culture: Business culture is straitly effects on the behaviour and activities of workforce.
As per the model of Charles Handy, this framework divided into four parts including role, task,
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power and person culture. All these are interrelated with each other and having common motto to
maximise sales of company within predetermine period of time. In given case study of virgin
group and Apple Plc, both are followed power culture in its business operations. On the other
hand, Unicorn Grocery applied role culture. As per this, entire workforce who are working in the
company has role and responsibility to accomplish long term objectives of firm.
Vision: In order to set an effective and long time vision, innovation and
commercialisation both are help them. It is essential and valuable part for the success and growth
of company. Thus, vision statement of the Unicorn Grocery company is to have strong base of
clients and market by providing quality goods and organisation to target customers that creates
more value for them (Eesley, Hsu and Roberts, 2014). From this, it can understandably explicit
that company practising its activities and functions as per their vision. Their customers have
distinguished and they like to buy grocery products via online channels. Afterwards they have
prefer to innovate its own effective and quality mobile application.
Leadership: Unicorn Grocery is a retail store in this they apply participative leadership
style. As per this model, all employees are likewise involved with specified process of
leadership. This will create more feeling of subject matter and satisfaction among them. Thus,
the business provide flexibility to particular which turn them to render large number of
extraordinary thoughts.
Team work: Innovation and commercialisation is important part for the company to make
an effective team. Thus, strong team work support the organisation to increase their productivity
and profitability ratio in allotted time period. In this Unicorn Grocery apply Tuckman model
which includes four phase of team creation and entire are equally essential for the members of
company in order to grow, identify issue, analysis solution and provide better outcomes
(Gassmann, Enkel and Chesbrough, 2010). All these stages are explained as below: Forming: Under this phase, team members create and find out regarding challenges and
chances that can develop in the organization. Storming: In this phase, team as well as its members increase trust of all employees and
start valuing suggestion of worker. Norming: in this, entire team members is Cognize of rivalry which is arise in the
workplace as well as business environment. Every members evenly takes the duties and
contributes or protect significantly.
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 Performing: At this level, team members get extremely motivated or encouraged. They
do not have any need for its supervision at this stage.
TASK2
P3 4Ps of innovation and the use of innovation funnel
4P's of innovation is introduced by the Joe Beasant and Joe Tidd. It is also identify as an
effective process which is used by the each and every enterprise with motive to innovate their
products and services at marketplace and to the customers in an effective and systematic manner.
Thus, it is useful tool for the Unicorn Grocery to introduce their innovation to the large number
of populations (Goldberg, 2013). This aspects cover some aspects including paradigm, product,
position and process. All these are explained as below:
Product: In this Unicorn grocery product some quality and variety products and services
to the customers with aim to maximise their base in the organisation. In order to advertise their
grocery goods, manager of the company use promotional mix namely advertisement, public
relation, sales promotions and many other tools. For example: Unicorn Grocery can state
providing organic fruits and vegetables at reasonable prices. Apple has completed product and
service innovation by introducing first water resistant smartphone across the globe. In addition,
for Apple I-Pod which is identified as higher position in telecommunication sector both in the
form of unit and revenue share.
Process: It handle the variation in their delivery and creation process of specified
products to last customers. With this, company as well as its clients acquire competitive and
equivalent edge. In cause of Unicorn Grocery, they need to enhance their process in which they
provide quality service and products to the large number of buyers (Huizingh, 2011). For
example: Business need to present its mobile application by applying online channels. In case of
Apple plc that they has establish its X series and in this they inbuilt powerful chip that haven't
been utilised earlier.
Position: It is another important part of the 4P's of innovation which is mainly identify as
a repositioning of available products and services. Thus, rebranding of the products is important
for the company to attain their long term targets and objectives in limited time period. For
example: Unicorn grocery needs to introduce its innovative products and services in other
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classifiable parts to capture large number of market share and increase turnover of the entire
industry.
Paradigm: It is beneficial which is needed by the company in sometime with purpose to
overlook views of society with the motto that specified products or management can be
developed. For example: Unicorn Grocery is a retail store that has inserted creation as possible
for presenting their own various application maintaining is observe the considerations and
inventive strength of individuals.
Innovation Funnel and its uses:
The motive of any process and product development projects is to take an effective idea
from reality concepts by transferring to a specific items that cam meet a requirement of market
in a manufacturable and economical form (Jagoda and et. al., 2011). It is more useful and
important for the company to introduce its new products and services in marketplace. This
framework includes some stages which are useful for the Unicorn Grocery are determined as
below:
Opportunity identification: Under this stage business identify the market and needs of
the customers. It is the best opportunity to expand their business globally.
Design: At this level, different parts are consider such as consumer measurement, product
positioning, conceptual mapping, forecasting sales potential, product engineering and marketing
mix. All these are valuable for the business to maximise their revenues.
Testing: By this stage, certain parts are consider such as product testing and advertising,
test marketing and pretest market forecasting.
Introduction: It is another phase which is useful and essential for the Unicorn Grocery to
design an effective plan for launching new products in marketplace.
Profit management: This stage includes decision support system, innovation at maturity,
market response analysis and product portfolio management (Kline and Rosenberg, 2010). These
are beneficial for the growth and development of company at international level.
P4 Development in frugal innovation and its used in the context of organisational
Frugal innovation is a process of minimising the simplicity as well as cost of the product.
Due to reducing the utilisation of proper resources in development, production or delivering and
by financing it in innovative way. Thus, it benefited to the company in the way to reduce cost of
the services and products. For instance: Steve job, he is a founder of Apple Plc that discard the
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design or plan of I-Phone as it was to thick and hard. He think about that this would have issues
while transporting it. As an output, they remake the commodity and exist with a best plan that
has less weight and size as compared to previous product.
Frugal innovation is more useful and important tool for the Unicorn Grocery in order to
develop their new products in marketplace. It support them to attract large number of customers
towards innovative services and products of company (Leonard and Rayport, 2011). With the use
of such innovation company save their time and cost as well as maximise their turnover within
predetermine period of time.
Stages and principles of Frugal innovation: There are some principles of such innovation which
is important for the company to accomplish their long term targets and objectives within an
organisation. These stages or principles are explained as below:
Discovering opportunity in adversity: In this stage present problems are reframed by
workforce of the Unicorn Grocery. In the company, risk in adequately in nature which is
regenerate into a open place by administration of business with the motive of maximising higher
focused advantages in the market.
Do more with less: Under this, entire reachable assets are evaluated by the employees
and after that processing to create their optimum usage.
Keep it simple: Any kind of problem that rise inside the organisation may worried the
whole working of company (Lundvall, 2010). Therefore, it has been recommended that an
enterprise ought to have different choice which is instead of having minimum.
Include the margin: Company should understand regarding dislikes and likes of
customers with the motive that successful products can be developed. For this, criticisms and
recommendation of customers can be seized by enterprise.
TASK3
P5 Importance of commercial funnel and the application of new product development
Commercial funnel is identify as an effective process in which business managers try to
decide optimum sources. It is important for the organisation to maximise their sales and turnover
in limited time period. Unicorn Grocery manager select one of the best channel for their new
products and management. It will support with enlarging the business operations and functions
which benefited to them to maximise their turnover. It is needed by the Unicorn Grocery in
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order to modify their process as well as structure also. Commercial funnel is more essential and
important for the company which are determined as below:
Conduct research program: Commercial funnel is important for the company to organise
a research program which support them to analysis basic needs and wants of the customers
towards grocery products and its services.
Decreases losses: With the use of Commercial funnel company easily attract large
number of clients towards company products and services. It is good for the business to
maximise their sales and revenues (Sawyer, 2011). For this purpose, company introduce their
new products and services at marketplace which help business to improve their profitability and
productivity ration easily.
Implementing innovation and digitalisation: Commercial funnel support the company to
implement digitalisation and innovation in their business operation and activities. Thus, it
benefited to them to save their important time and cost.
Another Unicorn Grocery required to apply new product development process which is
classified into different stages. These are explained under this:
Idea generation: Under this stage, manager of the Unicorn Grocery generate an effective
idea about market trend and customer requirement regarding new product and services of
company.
Idea Screening: At this level, manager play vital role for selecting best and appropriate
idea which help them to accomplish their predetermine objectives and targets within an
organisation.
Idea Development and Testing: It is another stage which is useful and important for the
Unicorn Grocery in order to develop best idea for the success and growth of company. In this
they analysis market and needs of clients about business services and products.
Market Strategy and Development: At this level, manager of the company set an
appropriate marketing strategy which support them to attract large number customers as well as
maximise their sales ratio in a systematic manner (Stokes, 2011).
Business and Financial Analysis: Under this, company need to collect appropriate
amount of the capital because each and every activities of them is highly depends of sufficient
amount of fund. Thus, it is important part for the business to accomplish their predetermine
objectives and goals in limited time period.
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Commercialization: It is identify as a last phase, in which they develop their new
services and products in marketplace. It help them to increase their turnover and sales in limited
time period.
P6 Innovation business case for an enterprise, including funding ways
Business case is identify as a process in order to evaluate risk and difficulties related with
putting optimum resources into innovation. This case includes different stages which are
includes in this:
Application of Business Case is normally finished so as to figure out the measure of risk
related with financing in innovation (Schoonmaker and Carayannis, 2010). In the predetermined
report, Unicorn Grocery has definite to exists with its own mobile application for creating higher
amount of profits. This plan includes some steps with aim to making an innovative business case
plan which are determined below:
 The Need: At this level, Unicorn Grocery determine actual problems prevailing within
the work atmospheres. Essentially it find out what is the accurate requirement for
embedding innovating nad newly within the organisation. With speedy modification in
advanced technology, buyers buying pattern or behaviour also become effected. As a
result, business sales reduce the range of target audience willing purchase products
through online websites. To deal with such type of situation, the company has decided to
innovate its own mobile application via which they are capable to sell their items in a
accurate manner.
 Your Solution: Solution developed by business entity that must be inventive and unique
that yield them advanced competitive benefits in the marketplace. There, the best
achievable solution for attracting various way of customer and creating both consumer as
well as market base powerful, Unicorn Grocery will establish its own mobile application
which assist to increse their sales. (Snow and et.al., 2011).
 Why it is innovative: The better solution which are framed by organisation is
progressive as it get the first SMEs among other United Kingdom based small business
to have its own mobile application via which they are capable to trade their products in
the marketplace and relatively in better manner.
 Customer Research: Before engrafting invention or innovation, it is principally essential
in order to organise mini-research for analysing what are the actual likes and dislikes of
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clients so that they can introduce as per them. It can takes better place via focus group,
survey, interview, questionnaire etc.
 Investment Required: At this stage, Unicorn Grocery will figure out total investment
required with success of implementing innovation. Principally, there are different sources
of funding via which company can yield sufficient amount of capital one is Internal and
other is External. In term of Internal that means when capital are organized within the
organization only such as following profits, long term assets and retained earning that are
no longer in utilization. Under External means when capital are arranged in outside the
business entity such as banks, angel investors, individual donor creditors etc. Expected Benefit: Innovation is important but it not only impact business operation and
functions but it also effects environment and community that is evaluated at this level.
 The Ask: It is the last phase in which business take valuable commend and suggestion
from clients after implementing new products or innovation (Teece, 2010).
TASK 4
P7. Different tools which used to develop, retain and protect intellectual property rights
Intellectual property means rights that consist intangible artifact or unit of human mind
which include patents, copyrights and trademarks (Chesbrough, 2010). There are another rights
which is also cover in this such as trade secrets, moral rights, publicity rights and unfair
competitions. These type of rights are provided to the workforce in order to defend their artistic
activity. These work includes design, inventions, discoveries, music and many other. There are
certain intellectual rights which are explained as below:
Trademarks: It is identify as a recognizable design, expressions and signs which
distinguish services and products on a particular merchant from some process and goods of the
trader. These are provided to individual or quality in order to differentiate themselves from other
person.
Copyrights: It render to developer for their actual work or activity. These are identify as
an sole right that are managed by legal authority to a people for certain time period. It may
relevant to different number of creative, artistic and intellectual way of work or activity. It never
includes ideas and data themselves, as per this manner they started.
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Patents: It is also identify as a type of right which is provided by the government to an
artificer (Chun and et. al., 2015). By aiding this to managers, they are responsible in order to
execute or slay to another from making, using, selling, offering and importing to trade an
invention or creativity fro some time duration.
CONCLUSION
From the above mentioned report, it can be concluded that innovation and
commercialisation are more important and useful aspects for the company to maximise their
sales and revenues in limited time period. It is also help them to improve their profitability and
productivity ratio within predetermine period of time. In today's, invention and innovation both
are play different role in the organisation for its development and growth. It is also beneficial for
the business to set vision , culture, leadership and team work. There are different techniques
which are used by the company to innovate their goods and services to the customers such as
commercial Commercial funnel and Frugal innovation. Both are valuable for the company to
maximise customer base in the organisation in certain period of time. It is also useful for the new
product development which support them to maximise their strong position at global or
international level. Trademarks, Copyrights and Patents are beneficial tool that provide rights to
the individual.
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REFERENCES
Books and journals
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning. 43(2). pp.354-363.
Chun, D., and et. al., 2015. Labor union effects on innovation and commercialization
productivity: An integrated propensity score matching and two-stage data
envelopment analysis. Sustainability. 7(5). pp.5120-5138.
Cunningham, S.W. and Porter, A.L., 2011, July. Bibliometric discovery of innovation and
commercialization pathways in nanotechnology. In Technology Management in
the Energy Smart World (PICMET), 2011 Proceedings of PICMET'11: (pp. 1-11).
IEEE.
Dahlander, L. and Gann, D. M., 2010. How open is innovation?. Research policy. 39(6). pp.699-
709.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Edquist, C., 2010. Systems of innovation perspectives and challenges. African Journal of
Science, Technology, Innovation and Development. 2(3). pp.14-45.
Eesley, C.E., Hsu, D.H. and Roberts, E.B., 2014. The contingent effects of top management
teams on venture performance: Aligning founding team composition with
innovation strategy and commercialization environment. Strategic Management
Journal. 35(12). pp.1798-1817.
Gassmann, O., Enkel, E. and Chesbrough, H., 2010. The future of open innovation. R&d
Management. 40(3). pp.213-221.
Goldberg, D. E., 2013. The design of innovation: Lessons from and for competent genetic
algorithms (Vol. 7). Springer Science & Business Media.
Huizingh, E. K., 2011. Open innovation: State of the art and future perspectives. Technovation.
31(1). pp.2-9.
Jagoda, K., and et. al., 2011. Development and commercialization of renewable energy
technologies in Canada: An innovation system perspective. Renewable Energy.
36(4). pp.1266-1271.
Kline, S. J. and Rosenberg, N., 2010. An overview of innovation. In Studies On Science And The
Innovation Process: Selected Works of Nathan Rosenberg (pp. 173-203).
Leonard, D. A. and Rayport, J., 2011. Spark innovation through empathic design. In Managing
Knowledge Assets, Creativity And Innovation (pp. 355-369).
Lundvall, B. Å. ed., 2010. National systems of innovation: Toward a theory of innovation and
interactive learning (Vol. 2). Anthem Press.
Sawyer, R. K., 2011. Explaining creativity: The science of human innovation. Oxford University
Press.
Stokes, D.E., 2011. Pasteur's quadrant: Basic science and technological innovation. Brookings
Institution Press.
Tebbe, J., 2011. Where good ideas come from: The natural history of innovation.
Teece, D. J., 2010. Business models, business strategy and innovation. Long range planning.
43(2). pp.172-194.
Online
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Difference between Invention and Innovation. 2016. [Online]. Available through:
<http://keydifferences.com/difference-between-invention-and-innovation.html>.
[Accessed on 20th November 2017].
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