Importance of Innovation and Commercialization Report
Added on 2020-09-03
13 Pages3728 Words176 Views
Leadership ManagementDesign and Creativity
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Innovation andCommercialization
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Innovation and determine its importance to organizations in comparison with invention:1P2 Organisational vision, leadership, culture and teamwork can shape innovation..............2and commercialisation:..........................................................................................................2P3 4Ps of innovation and innovation funnel:.........................................................................3P4 Explain developments in frugal innovation and provide examples of how it is used in anorganisational context.............................................................................................................4P6 Explain the importance of the commercial funnel and the application of new productdevelopment (NPD) processing for commercialisation of innovation...................................5Build an innovation business case for an organisation, including ways to access funding. ..7P7. Different tools to develop, retrain and protect the knowledge and intellectual property ofan organisation........................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONInnovation and commercialization is process to innovating goods and services to andpresent into the market. Is the process to research about the organization products and developedto the market. In this report included the founder of healthy juice organization Mr. denial greenwant to create innovation in their drinks to present different type of juice according to theircompetitor. It in report also included the importance of innovation in the products andorganization vision, culture, leadership and teamwork shaping innovation andcommercialization. It report also define the frugal innovation and process for new product'sdevelopment.TASK 1P1 Innovation and determine its importance to organizations in comparison with invention:Innovation Invention Importance of innovation is helps toimplements new things in their juicy products.Innovation is defines exploring new ideasleading to the creation of new products andprocess or service. It also defines to examinethe previous products and try to developed newthings new experiment in products. Innovationis very important in any business becausemarket is changes every time and manycompetitors present new products in themarket. And every organisation try to increasetheir business growth so they doing innovationin their products to present innovation productsin the market. Innovation is means toexploiting new technology and generate newvalue and to bring about significant changes insociety. In the healthy juice organizationsInvention is process to create new productswith new ideas and new techniques. Inventionis also defines the products experiments to testtheir quality and their cost. Its process refers toimagination of any products. In a healthy juiceinvention helps to discover their productsprocess and its reflects extraordinary creativeability or skill and that makes a distinct andrecognized contribution to and advancement ofscience. Invention process help to create newthings in healthy juice organization theyexperiment on their juice like milkshake otherdrinks and try to develop new test in drinks sopeople attract with their products.1
innovation helps to introduced with newtechniques products and also developed newimplementation in products to present new testfor the customers. Importance of innovationhealthy juice organization it helps to increasetheir company popularity and gives new test totheir customers. In healthy juice organizationinnovation helps in every department likemanufacturing, marketing etc., in themarketing after innovation in the productshealthy juice try to increase their marketing sopeople knowing about their new innovatingproducts and service and they try to increasetheir innovation products marketing,P2 Organisational vision, leadership, culture and teamwork can shape innovationand commercialisation:Vision- Vision for heath juice is to serve healthy juice to every people and make innovation themto people having new test of drinks.Leadership- Manager of healthy juice they present their customer to different kinds of juice andalso serve the new test of the customer.Culture- Healthy juice define a culture about they having friendly environments to their customerand also present timely different test according to their demands.Team work- Team work define the healthy juice they work on team and present different kind ofinnovation in their drinks. Like they change the test of the drinks and also examine customerstest.In innovation and commercialisation vision, leadership, culture can shaping their organizationactivities like vision helps to increase what organizations want to achieve in their business. It'salso helps to motivate their employees to work hard and also determine the new things to2
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