Developing Innovation Model

This study material explores the concept of innovation and its techniques, the comparison between innovation and invention, the role of organisational vision, leadership, culture, and teamwork in innovation and commercialisation. It also discusses the 4P's of innovation and the use of the innovation funnel to shape innovative ideas. Additionally, it covers the development of frugal innovation and its application in an organisational context. Lastly, it explains the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation.

Developing Innovation
Model

Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
LO1............................................................................................................................................3
Explaining the innovation techniques and determine its innovation in comparison with the
invention.................................................................................................................................3
Explain how organisational vision, leadership, culture and teamwork can the innovation
and commercialisation...........................................................................................................4
LO2............................................................................................................................................6
Explain the 4P’s of innovation and explain the use of innovation funnel to examine and
shape of innovative ideas.......................................................................................................6
Explain the development of the frugal innovation and give supportive examples as how it
is used as the organisational context......................................................................................7
LO3............................................................................................................................................8
Explaining the importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation..................................8
Build an Innovation Business Case for an organisation, including ways to access funding. 9
LO4..........................................................................................................................................10
Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property....................................................................................10
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................12

INTRODUCTION
Innovation is one of the key to run the business and make an entrepreneur a successful
one, with the help of adopting changing methods and opportunities for different business with
different styles. As invention and innovation are the two different aspects for the business
man to develop the business and use different product line to expand the business after the
particular time period. To run a business there should be perfect and clear vision and
objective which has to be completed in the future by the organisation (Wemmer, Emrich and
Koenigstorfer, 2016). For this assignment the chosen company is Oven-Fresh bakery,
founded by Mr Wilbur in United Kingdom. He started his business five years ago with only a
single type of bread. He supplied his products by using white bread in different forms. In this
assignment the included contents are; difference in between the innovation and invention,
explaining the different types of innovations, evaluate the process of commercialise
innovation and provide a new product development process for commercialisation of the
products, advantages and disadvantage for the different methods of protecting ideas.
MAIN BODY
LO1
Explaining the innovation techniques and determine its innovation in comparison with the
invention
Innovation means introducing something new in the market for the customers, it
brings the positive change in the environment and complete the demand of the customers. It
is the most important topic for the long-term establishment of the company in the market
(Hue, 2019). It can be in the context of anything related to the products, service and any
technological process.
Innovation Invention
Innovation is the implementation of the idea
which is made for the products and process
for the very first time in the product life.
Invention refers to the new idea for the
products which are never to be used before.
It’s actually add up the values in the existing
product and make them new as like never
before.
Invention make very new product which is
never being used by anyone in the market.
Here the management, technical and It needs only scientific skills to make a new

strategic skills for the development of the
product.
product idea in the market.
Combination of the products can be used. Single product is needed.
Implemented through whole organisation. Limited to the R&D department of the
company.
Oven-fresh bakery face lots of challenges like insufficient capital to run the business
on the daily basis, less human resource who can make innovative changes in the business
according to their need, their capacity is underutilised, the pre-planning and project
compliance is not that strong enough which is actually needed according to the companies’
share in market (Harrison, Rao and Mulloth, 2017).
The invention and innovation are the most important factor in the organisation like
Oven-fresh bakery. As it help the company to make a new and innovative products for the
customers. It help the company to make a good relationship with the customers by fulfilling
their need and demand. It help the organisation like Oven-fresh bakery, to develop the new
products and diversified the product line to create new offers for the customers and make
them satisfied. Invention can do new discoveries for the good work, help the whole market or
country in respect to increase the GDP. Also it help the company relevant to the market and
make updated products for the customers. Oven-fresh bakery make differentiation in their
products and company to make differ from the others competitors. It also increase the
productivity, solve the problems which are arises through the market and make the market by
their own self.
There are various techniques which can be used by the oven-fresh bakers to make invention
in the company. The oldest and usable technique is adding; adding something new in the old
product, leads less costly and most effective (Joshi, Chelliah and Ramanathan, 2015). Next
one is changing appearance; appearance is everything for the customers, so a little change
will help the company to attract more customers. And company can also use the natural
objects technique used for showing the customers that the company is health conscious.
Explain how organisational vision, leadership, culture and teamwork can the innovation and
commercialisation
In oven-fresh bakery, the vision, leadership culture everything is related to the
company’s growth and achievements. So they can easily identify how they are going to

complete the decided task and make innovation in their products to enhance their
performance. That are explained below in detail:
Commercialisation: This term deals with financial services which are faced at the time of
launching new products and services in the market. It involves marketing, sales, finance and
customers support (Liu, 2016).
. It actually help the company to deal with the marketing status of the market and the
customers review regarding the concept of new plan of the company and especially a newly
invest company which taken lots of risk to introduced new products and services.
Vision: The company Oven-fresh bakery must have a clear vision which support the
company in future that what kind of innovation has to be done in future and what
commercialised techniques are to be used in the company so that it impact the market at high
and increase the growth rate of the market. If the company’s vision is clear it help in
company’s growth and innovation which help in commercialisation can be done easily.
Leadership: Leadership is the very common process in every company to make the
specialisation effect in the process of the company. If the company’s leader are good and
innovative than they will help the company to build the growth of the respected company in
the market. Leaders of the oven-fresh bakers are not such innovation and they can’t manage
the others staff of the company. They are not able to guide them in the proper way and can’t
get the success which can be achieved by them.
Culture: Different companies have different culture which gives the company to a
success. The culture of the company decide that in what way the product is going to be
innovative and intentioned. And in what terms the commercialisation get affected to the
company. The culture of the oven-fresh bakers are very similar to the other food company in
the market which have the main motive to serve the customers by providing them best quality
at cheapest price. These culture can also reflected by the falling business turnover in the
recent past years.
Team-workers: Team-workers lead the company growth and help in increase the
productivity of the company (Tidd and Bessant, 2018). Team workers help the company to
commercialised their products in the market and achieve the pre-determined target but if the
workers are not motivated and interested in their work than they become the reason of
unproductivity in the company and it leads to decline rate of the profits and customers

support. As the customers are more demanding and becoming health conscious so completing
their needs, the employees of the company have to do hard work as directed by the top
management of the company.
LO2
Explain the 4P’s of innovation and explain the use of innovation funnel to examine and shape
of innovative ideas
Innovation is the process which deals with the creating new concept and thinking
ability in the organisation. We all are well aware with the 4 marketing mix process same as
that there are 4p’s of innovation in the market which are (Paradigm, Product, Process, and
Position). Which is used by the organisation to make innovation in the products line in the
business.
Paradigm: It is the planned process by which the changes can be done by the
company by taking innovative and creative ideas (Ju, Kim and Ahn, 2016). It’s all done by
the companies to overcome the threats and challenges arriving in the market. Oven-fresh
bakery can use by applying the business online and sale their products there too which help in
giving new growth to the company.
Products: Product means that goods and service which are actually offered to the
customers and also it will be very valuable to the company. As the satisfied customers are
valuable asset to the company. Oven-fresh bakers can introduced the new product line, new
packaging, and new raw material in the production services all these can change the product
and help the company’s leader to help in getting the achievement of the targets.
Process: In the way which the product is provided to the customers and again become
the important point as if the delivery is delay or it’s a long process (Jawahir, Badurdeen and
Rouch, 2015). Rather than it will lead to reduce the success of Oven-fresh bakers and if the
process is short and easy it will increase the customer’s satisfaction and improve the overall
success.
Position: It is defined the goal and specialization of the company, in other words it
can be said that where a company seems themselves in the future and what are the actual
position of the company in term of market share.
The best approach of innovation that can be used by the company is adding up
approach. As adding new products in the market will leads to definite success to the firm. It

can be elaborate with the innovation funnel which provides the suitable ideas for the
development of the business.
Innovative funnel: It is a mechanism that evaluate the constant ideas and innovation that can
be screamed for the viability of that particular idea in the business. There are different types
of innovative funnel that can be evaluate the ideas which are driven and processed. First step
is collecting information in the respected company that how much the idea is accepted by the
customers and fitted on the basis of market demand (Yin, Chen and Li 2019). Than the next
step is screening the idea with comparison to other ideas and strategies and the best invention
is chosen which actually support the company in every circumstances and give maximum
opportunities for the business growth and in last implementation is done of the ideas into
action.
Explain the development of the frugal innovation and give supportive examples as how it is
used as the organisational context
Frugal innovation is the techniques in which the invention of the products or ideas
which are used by the companies scarce resources. It actually depend on the external factors
of the country like political, environmental, legal, economic, social and technological factors.
Also these factors are helpful for oven-fresh bakery to shape an innovative process easily.
And it help the company to reduce the expenses and sometimes it modified, where the
research showed that the business can achieve the win-win strategy by reducing the poverty
from the environment. It also provides the major focus on the goods and services by moving
to the low income buyer as compare to the average buyers and high income buyers. And this
can be done by process of reducing the cost of the products by minimizing the extra expenses
and also reducing the complexity of the process through which the product is going to be
reach to the customers as it help in maintaining the relationship with the buyers as they don’t
like the complex and rigid process in any company. So in the case of oven-fresh bakery, by
taking a frugal innovation process they have to be consider these factors seriously and on the
priority basis. As they can differentiate their services according to the customers taste and
preferences.
With the help of these funnel innovation and frugal innovation the respected company
can be choose different paths for their success and develop the innovative ideas. For
example- if they open a new branch online so that they can reach the large market area in no
time and easily handle all of them with just knowing and developing some more innovative

skills(Segers, 2016). They can provide the products to the customers want they actually want
by doing proper research and adopting good innovation techniques. Innovative ideas can be
chosen by the company through these tools. With the help of proper innovation steps the
wastage of money and unnecessary expenses are reduced on the processing view. From
generating the new idea to proper screening and doing experiments, making
commercialization and in last implementation of the idea. All helping in overcome the
challenges of the respected company.
LO3
Explaining the importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation
Importance of commercial funnel: A commercial funnel is used as the visual
presentation of the products which are actually associated with the new and innovative ideas
of the existing product line and services also known as the sales funnel. For the respected
company, the new and diversifying products is very important as they are losing the strength
of the market and also decline the bond rate with the customers (Makkonen, Johnston and
Javalgi, 2016). With the help of commercial funnel, they could attract the stranger, make a
conversation with them and become them a visitor, close the leads and finally serve as a
customer of the company.
 Attract: This step of the innovation funnel involve the proper source about the
products which can help in attracting new client or customer who are stranger to the
company at present. Investigate about the content, review them accordingly, paying
more attention on feedback all are the process of attracting customers step. For oven-
fresh bakery, they can update their good reviews on their site where the more people
can see and attract with the services.
 Converts: It means converting the unknown visitor to the known customers, this can
be done by the oven-fresh bakers by adding up the extra discounts on the first time
visit and further more discount on the course meal that they are offered in their
bakery.
 Close: After getting the lead to the unknown visitor to a known customers, the
activities of the customers are to be evaluate by the company (Rowthorn, Plum and
Zervos, 2016). It can be include the desired information that can be helpful in getting

the information regarding the customer’s relation to continue with them to the
company or not.
 Delight: Here the customer’s satisfaction is recorded and this can be done by
providing them seamless services which are satisfying their need and hold their
satisfaction level of the consumer by giving them extra and delightful services.
New Product Development: The application of the new product development (NDP)
process which help in commercialising of the innovation that influence the products in the
market and affect the large segment of customers (Guldmann and Huulgaard, 2019). There
are lots of channel for the purpose of marketing and to choose a suitable channel for the
development of the product and services in the market. The steps are explained further:
 Idea generation: Make a different and innovative products which must be fulfilled
the demand of the customers. And for staying in the market it is necessary to create
new ideas related to the current position of the market. For oven-fresh bakers, they
can introduced the new and innovative cookies which they can offer to the customers
according to their personalised need.
 Concept Definition: with the help of this step the company can identified the
specialization of their products to the customers. And help them in knowing the
product specification which are innovative and make them distinctive from the others
competitors in the market.
 Market analysing: Before launching the product in the market it is necessary to the
company for analysis the market situation and identifying the actual need of the
product. Market demand, customers need and market condition are must be analysed.
 Product development: After market analysis, it’s the time to design and develop the
product which is demanded by the customers and market. Like in oven-fresh bakers
the demand is increases for cookies.
 Commercialization: It include the exhibition of the product in the market and make
the product available to the customers for their own use.
Build an Innovation Business Case for an organisation, including ways to access funding
To work easily in the environment in the company the workers can enlist some
requirement that can help in making innovative business case (Amusan and Oyekunle,
2016) . Through this regards the respected company can make exact performances and had
deliver the future ideas to the company for their future growth. Oven-fresh bakers is the

company which provides white bread bakery food items for their customers so they should
include the product development process, different pricing strategy, customers awareness
programme and market demand of the customers.
 First step is to develop their products and they can modify their products and make
innovative strategies for the new product line which are suitable in the market as well
as the customers. To complete this oven-fresh baker have to arrange the funds
according to their need.
 The new product have main focus on the young age customers who are loving the
innovative and personalised cookies which are helpful in sharing feelings with others
in an easy terms.
 On promotional activities they have to make the customers growth in local level as
well as at global level too (Shaw and Allen, 2018). To create their own brand image
and also helpful in making the generations who are now working with the company of
bakery.
Different funding options for the company:
 By welcoming more business partners, it will be helpful for the respected
company to arrange more funds for the business without losing the right from the
business.
 Taking loan from the bank and other financial institution, for arranging funds on
an urgent basis as to choose a right partner for the business is not that easy and it’s
also time consuming for completing whole procedure.
 Funding from the bakery lovers, it is an easy way to access the funds from those
person who are actually interested in the business like oven-fresh bakery.
LO4
Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property
There are different tools in the oven-fresh bakers which they can use to protect their
business growth, retain and protect the knowledge of their products details. For this there are
certain tools which are explained further:

Patents: This can be used by the company for the protecting the innovation and
invention in the company for the products (Basile and Faraci, 2015). Also can be used to
protect the other confidential details regarding the company.
Trademark: This can be used by the respected company to make a difference in their
products with comparison to other competitor’s products. It can be used in protecting the
name, symbols and the images that are actually utilised by the owner for make a unique
image in the market. So that the customers can easily get to know them in the wide market.
Copyright: Copyright is used for the any literature, artistic and musical words, here
the oven-fresh company can be used to protect the ingredients detail and recipes of the
products which are produced by the company (Gascó, 2017). Also they can protect the
advertisement content which made for the business and could be copied by the other
competitors of the market.
All these tools are helping the company to make them different from the others, also
all these intellectual rights are included lots of rules and regulation which have to be followed
by the many companies. And by maintaining these rules and regulation in the company they
can use these rights and utilised them with their full utility such as patent, trademark and
copyright options. These tools help the company to retain, develop and protect the different
and innovative ideas which can be copied by the different investors and competitors of the
market and make that idea of their own and achieve that success. So every company have
their own copyright and trade mark so that no one can use their name and products with the
wrong intention.
All these process shows that the company are facing lots of issues and to overcome
that issue make them sustainably suggestion they have to adopt the cashless transections,
customers feedback is taken seriously, their need is fulfilled on time. Furthermore they have
to be up to date with the latest technology and make innovation and diversifies their product
line according to the market need (Barlow, 2016). Proper analysis and controlling help the
business to run in long run and helpful in avoiding issues which affect the growth of the
business.
CONCLUSION
From the above report it is concluded that innovation and invention are two different
aspect but both are important for the successful business growth. There are also various

barrier which are faced by the entrepreneur while running the business but they have to that
attentive so they can handle all the situation without any compromise. For this the innovation
4P’s are explained and their relation requirement and understanding level is evaluate by this
assignment. The procedure of the innovation and invention is varying dramatically
differentiate through customers choice and the company’s product line. All this is important
for the successive growth of the business.
REFERENCES
Books and Journals
Amusan, L. and Oyekunle, O. A., 2016. Conceptualizing innovation management
development through organizational learning in the public service: any lessons for
developing states?.
Barlow, J., 2016. Managing innovation in healthcare. World Scientific Publishing Company.
Basile, A. and Faraci, R., 2015. Aligning management model and business model in the
management innovation perspective. Journal of Organizational Change Management.
Gascó, M., 2017. Living labs: Implementing open innovation in the public
sector. Government Information Quarterly. 34(1). pp.90-98.
Guldmann, E. and Huulgaard, R. D., 2019. Circular business model innovation for
sustainable development. In Innovation for Sustainability (pp. 77-95). Palgrave
Macmillan, Cham.
Harrison, A. J., Rao, B. and Mulloth, B., 2017. Developing an innovation-based ecosystem at
the US Department of Defense: Challenges and opportunities. Defense Horizons. (81).
p.1.
Hue, T. T., 2019. The determinants of innovation in Vietnamese manufacturing firms: an
empirical analysis using a technology–organization–environment
framework. Eurasian Business Review. 9(3). pp.247-267.
Jawahir, I. S., Badurdeen, F. and Rouch, K. E., 2015. Innovation in sustainable
manufacturing education. Universitätsverlag der TU Berlin.
Joshi, R. G., Chelliah, J. and Ramanathan, V., 2015. Exploring grassroots innovation
phenomenon through the lived experience of an Indian grassroots innovator. South
Asian Journal of Global Business Research.
Ju, J., Kim, M. S. and Ahn, J. H., 2016. Prototyping business models for IoT
service. Procedia Computer Science. 91. pp.882-890.
Liu, S. X., 2016. Innovation design: made in China 2025. Design Management Review. 27(1).
pp.52-58.
Makkonen, H., Johnston, W. J. and Javalgi, R. R. G., 2016. A behavioral approach to
organizational innovation adoption. Journal of Business Research. 69(7). pp.2480-
2489.
Rowthorn, V., Plum, A. J. and Zervos, J., 2016. Legal and regulatory barriers to reverse
innovation. Annals of Global Health. 82(6). pp.991-1000.
Segers, J. P., 2016. Regional systems of innovation: lessons from the biotechnology clusters
in Belgium and Germany. Journal of Small Business & Entrepreneurship. 28(2).
pp.133-149.
Shaw, D. R. and Allen, T., 2018. Studying innovation ecosystems using ecology
theory. Technological Forecasting and Social Change. 136. pp.88-102.

Tidd, J. and Bessant, J. R., 2018. Managing innovation: integrating technological, market
and organizational change. John Wiley & Sons.
Wemmer, F., Emrich, E. and Koenigstorfer, J., 2016. The impact of coopetition-based open
innovation on performance in nonprofit sports clubs. European Sport Management
Quarterly. 16(3). pp.341-363.
Yin, X., Chen, J. and Li, J., 2019. Rural innovation system: Revitalize the countryside for a
sustainable development. Journal of Rural Studies.