Innovation and Commercialisation for Oven-Fresh Bakery

This report discusses the challenges faced by Oven-Fresh Bakery and how innovation and commercialisation can help overcome them. It covers the definition and differences between invention and innovation, the importance of organizational vision and leadership, the 4 Ps of innovation, approaches to develop innovative ideas, and the innovation process. The report also includes a student declaration and references.

Ilona Manuelevna Do Sacramento Soares Metzger
ID Number: 2003087
HND in BUSINESS
Academic Year : Sept 2020- August 2021
Unit Number and Name: Unit 8 Innovation and Commercialisation
Teacher: Farhan Quereshi
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Student Declaration
This is to confirm that this submission is my own work, produced without any external
help except acceptable support from my lecturer. It has not been copied from any other
person’s work (published or unpublished), and has not previously been submitted for
assessment either at GBS or elsewhere. I confirm that I have read and understood the ‘GBS
Academic Good Practice and Academic Misconduct: Policy and Procedure’ available on
Moodle.
I confirm I have read and understood the above Student Declaration.
Student Name (print) Ilona Manuelevna Do Sacramento Soares Metzger
Signature
Date 12/03/2021
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Table of Contents
Section 1
Introduction………………………………………………………………………………………………………………………….4
Company history and the challenges it
faces…………………………………………………...5
Definition invention and innovation…………………………………………………………..5
2.1- Differences between invention and innovation……………………………………………
5
2.2- Importance for the organization…………………………………………………………..6
3- How organizational vision and leadership can foster teamwork to expand an organization's
innovative culture for business success………………………………………………………..6
4- Explain the 4 Ps of innovation and how they support the capacity for innovation and
management…………………………………………………………………………………...7
5- Approaches that can be adopted to develop innovative ideas, including the innovation
funnel and frugal innovation, with and appropriate
examples…………………………………………9
6- Explain and evaluate the innovation process to develop and incorporate new and
innovative
products………………………………………………………………………………………10
7-Conclusion …………………………………………………………………………………
11
8- References…………………………………………………………………………………12
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Introduction
According to the material delivered, Oven-Fresh Bakery's innovation will be addressed in this
report, which will be pointed out as an improvement of the approach implemented in the
company. Where problems will be selected and resolved after the implementation of the
innovation. The innovation methods will be calculated and subsequently established in the
context with treatment of the company's efficiency.
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Oven Fresh Bakery history
Oven Fresh Bakery was founded by Mr. Wlibur in the United Kingdom. The company in 5
years only works with one type of bread.
Over the years, Oven Fresh Bakery has accompanied the increase in production volume, with
the scope of equipment with advanced technology. With this equipment, the company is able
to maintain a high volume of productivity and preserve consistency and quality.
Currently, Oven Fresh Bakery remains a third generation family business that produces more
than 50,000 croissants a day, in addition to other bakery products. The company continues to
maintain the tradition of using only quality ingredients and providing excellent services to its
customers.
The challenges in the bread and bakery industry are met with the ever-changing demand that
is linked to stability. These changes require Oven Fresh Bakery to innovate its innovation
capabilities. Customers expect fresh, high-quality products. This makes the sector highly
competitive with other traders and suppliers who are always looking for innovative products
to establish an initial advantage.
Definition invention and innovation
Invention is the creation of a new product or service. Product creation has a different
meaning than its creator. They are unique ideas of their creators after several experiences and
research.
The invention is produced when a person comes up with new ideas for the process that are
not yet on the market. The inventor needs to ensure that the credits of the invention are given
only to him to ensure the safety of the patents on the invention.
Innovation it is a process of improving or replacing a product or service. Several activities
are involved in innovation to discover new ways of doing things. Innovation is achieved
when someone has the ability to turn success into an idea into a real product already on the
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market. These changes are to bring together all the values of products or services to ensure
that customer needs are met.
Differences between invention and innovation
Invention Innovation
Idea for a new product or process. Implementation of ideas for existing
products or services.
Create a new product or service Change in the product that already exists.
Appearance of new ideas and their
functioning in theories.
Performing acts on new ideas.
Lonely scientific skills. Requires a wide range of techniques and
strategies, marketing skills.
It happens when a new idea embraces a
scientist.
Appears when the need for a new product is
observed.
It is the only product or process. Focuses on the set of products and services
It is limited in the distribution of research
and growth of the organization.
It is distributed throughout the organization.
Importance for the invention and innovation.
3-How organizational vision and leadership can foster teamwork to expand an
organization's innovative culture for business success.
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4- Explain the 4 Ps of innovation and how they support the capacity for innovation and
management.
Fig. 1: The 4 P of Innovation (Tidd&Bessant 2013).
The 4Ps were created to realize and help to produce the innovation strategy. In marketing, the
4Ps of the marketing mix are also used, which is related to the classification of the product in
the specific market. There are also 4 points of innovation. It is a structural instrument that is
used to better investigate the innovation space and establish the right directions for
innovation and focus on existing resources. All organizations must be innovative to maintain
business stability, but companies obtain long-term competitive advantages, they must always
remain innovative in 4Ps.
The 4Ps in innovation are: product, process, position and paradigm that are defined.
Product is the main point of innovation is what the company offers its customers, products
and services.
Process is the way the company distributes its products to customers, innovative products
and efficient service.
Position is how and where services and products are introduced and how customers can
reach.
Paradigm is changing the location of the product, how it is used and by whom and for what,
teaching customers how to use the products and what they are for (Brown, 2013).
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Conclusion
According to the delivered report, the tasks of innovation and invention of products or
services were carried out, innovation and invention were also defined and the differences
between the two with the organizational vision and the leadership that could develop the team
work for the development of the innovative cultural organization approach. The
organization's 4 Ps of innovation were also explained, the approaches they take to develop
new ideas were discussed, including frugal innovation and the funnel of innovation with
examples, with an assessment of the innovation process with the development of new and
innovative products.
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1.Scout new ideas for a new product development. Identify ways to access funding for it.
2. Build an Innovation Business Case for the above organisation using appropriate
techniques to measure, test and improve the performance. Include the following in your
discussion
a. Matching goals to resources and capability. b. Assessment of risks involved.
c. Value analysis applying frugal innovation.
3. Discuss the importance of commercial funnel in the new product development process
for its commercial success.
4. Explain how Oven-fresh Bakery can protect the intellectual property rights of the
new
product.
5. Provide a critical evaluation of the entire process, including the nature of innovation,
context, risk and challenges involved, and recommend ways to overcome challenges
for sustainability.
References
FODWARE 365 Challenges in the bread and bakery industry (2021) Available at: Foodware
365 for bread and bakery production challenges ( Accessed 21 March 2021).
Head, Heart and Hands Engagement THE IMPORTANCE OF ORGANIZATIONAL
VISION, MISSION, VALUES AND COMPETENCIES (Online ) Available at: The
Importance of Organizational Vision, Mission, Values and Competencies
(headhearthandsengagement.com) (Accessed 10 February 2021).
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Innovation Funnel (2021) Available at: https://www.researchgate.net/figure/Innovation-
Funnel-Source-wwwsopheoncom-idea-concept-development_fig3_282909259 ( Accessed 12
February 2021).
Key Differences Difference Between Invention and Innovation (2021) Available at:
Difference Between Invention and Innovation (with Comparison Chart) - Key Differences
( Accessed 8 February 2021).
TERMS COMPARED.COM (2019-2020) Available at: Invention vs innovation - definitions,
explanations, differences | Termscompared ( Accessed 8 February 2021).
Meet the boss (2021) Available at: Our Innovation Process | MeetTheBoss ( Accessed 11
February 2021)
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