Importance of Innovation and Commercialisation in an Organisation

Introduction
The term innovations are explained as a process or procedure which is used
by organisation for add more value among the products. The main purpose
of an innovation is to implement all those objectives which is used to
achieve high value among business through formulating the product or
service unique and creative.
P1 Innovation and its importance in organisation
INNOVATION- The term innovation is explained as an idea which is used
by the organisation for attaining more success among business through
inducing new thought as well as unique thoughts in company products.
Along with this innovation aids an organisation to capture high share
in market. In the context of Hyperlink Infosystem, innovation perform
an important role because this supports management to introduce and
launch new application for the organisation.
INVENTION- This is used to achieve the purpose of formulating
something new for organisation specifically, those products that not
exists in the market and organisation both. Furthermore, invention
perform an important role for the business because this helps the
Hyperlink Infosystem management to attract more customers and also
to enter into new market by offering good quality of products.
Importance of Innovation
 Reinforce Brand- Organisational products and their image perform an
essential role for capture the broader or larger market share. This is
explained as a basic process which helps to achieve more innovation
among business. Moreover, there are different driving forces exists and
it help to achieve long term success in an enterprise.
 To enhance the growth of organisation- Most professional or expert,
consider innovation as one of the most effective method for expand the
market area of business. This is because innovation provide or offer
constant support to the business and it helps for reduce risk from the
organisation. The current market scenario, considered towards
formulation of external market for business. Hyperlink Infosystem
achieve high-growth through developing effective brand for business.

Comparison between innovation and invention
Basis Innovation Invention
Meaning With implement of changes in an existing product or
service. Organisation induce innovation perspective
among the business. Furthermore, innovation perform an
important role for retaining the product in competitive-
market through making changes in company products.
The term invention is explained as a new strategy and this is adopted
by the organisation with the purpose of introducing a new product
that is developed with new process as they not relates with any
existing products.
Concept One of the most important concept of innovation is to
offer and add more values among the products by
identifying new ideas for business.
The concept of invention is to offer and provide services which are
better to utilise by certain and new types of customers. The main
purpose of invention is to increase the company value.
Roles The main purpose of an innovation is to make changes for
bring and generate more value among organisation
products.
Research and development perform an important role as they engage
new perspectives and features in company products.

P2 Organisation vision, culture, teamwork and leadership shape
commercialisation and innovation
For each business two most important perspectives are long-term
growth and survival of organisation in an intense competitive market. In
simple terms, both of this factor are the primary motive of organisation.
Role of various factors within commercialisation and innovation are
mention as follow:
 Leadership- The process of leadership is useful for an organisation
because this helps to formulate a path or way to accomplish
company goals and objectives. The HR department of the
Hyperlink Infosystem recruit effective leaders because they
motivate the engaged staff for achieve company goals in minimum
or decided time-period. Hyperlink Infosystem make changes within
company operations and functions so leader perform an important
role to inspire persons to accomplish company goals.
 Organisation Vision- In the context of Hyperlink Infosystem the
main purpose of organisation vision is to communicate all action
and activities which is related with the accomplish of company
goals. Moreover, management of the respective organisation is
focused towards formulation of company visions that helps to fulfil
needs of both engaged staff and customers.
 Teamwork- Individuals who are engage in team perform an important
role for an organisation because they are the persons who complete all
organisational projects or task in an organised manner. Hyperlink
Infosystem engage teams because this helps them to complete all work
with engage of workforce or people who has learned effective skills and
capabilities to complete work by coordinating with each other.
 Culture- Characteristics such as language, religion, background, etc. of
the individual are engaged in the company operation and functions. In
the present scenario, organisational culture consists of performing all
task as per internal environment of the workplace and this is because
employees from different backgrounds are engaged at a same place.
Therefore, Hyperlink Infosystem develop own culture at the workplace
because this helps to shape innovation and commercialisation according
to company goals and objectives.