Unit 8 Innovation and Commercialisation Teacher

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person’s work (published or unpublished), and has not previously been submitted for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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