Innovation and Commercialisation

This report explores the importance of innovation and commercialisation in an organization, using the case study of Bigbelly, a waste management company. It discusses the role of innovation in satisfying customer requirements and gaining a competitive advantage. It also examines the vision, culture, leadership, and teamwork that shape commercialism and innovation in an organization. The report further explores the 4 P's of innovation and the use of the innovation funnel for examining and shaping innovative ideas. It delves into the concept of frugal innovation and its application in an organizational context. Finally, it evaluates the impact of frugal innovation on an organization's development and overcoming challenges.

INNOVATION AND
COMMERCIALISAT
ION

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Innovation & its importance for organisation comparing with invention\........................3
P2 Vision of organisation. Culture, leadership & teamwork helping in shaping of
commercialism & innovation ................................................................................................5
M1 Analysing different sources of innovation and how organisation's can develop
environment and culture of innovation...................................................................................6
TASK 2............................................................................................................................................6
P3 4 P's of innovation and use of innovation funnel for examining and shaping of innovative
ideas .......................................................................................................................................6
P4 Developments in frugal innovation and use in organisational context.............................8
M2 Application of innovation funnel in a organisation.........................................................8
M3 Evaluation of frugal innovation in a organisation ...........................................................8
D1 Development of innovation and it's measurement in a organisation's context. ...............8
TASK 3............................................................................................................................................9
P5 Importance of Commercial Funnel and its application on New product development
process for commercialising of innovation............................................................................9
P6 Innovative business case and various ways for accessing funding.................................10
M4 Detailed business case and use of appropriate techniques for testing, iterate and making
needed improvements...........................................................................................................11
TASK 4..........................................................................................................................................11
P7 Evaluation of tools for organisations for retaining and protection of intellectual property
rights ....................................................................................................................................11
M5 Evidence based evaluation with context to macro environment....................................12
D2 Nature of innovation for developments and providing evidence for organisation in
overcoming challenges. .......................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Innovation & commercialisation are two major business aspects which always take place
together. Commercialising of innovation is very important as this is used for social benefits.
There are various impact of social business for a organisation. Innovation is a tool which is used
for providing opportunity to people so that they can experience overall growth and development.
while a organisation is carrying out the process of new product development there are certain
aspects which have to be taken into consideration. This report is based on Bigbelly which is
world's leading waste & recycling company. which is a organisation dealing in waste
management. company is planning to do innovation in a way to introduce some additional
features that the waste collected will be converted into manure and then used for purpose of
planting trees. Innovation and its importance of organisation, vision, culture and leadership of
organisation, application of innovation funnel and frugal innovation is done (Loya and Rawani
2016). Apart from this importance of commercial funnel is discussed and finally a business case
is build up and lastly different tools which can be used for protection of intellectual property
rights are discussed.
TASK 1
P1 Innovation & its importance for organisation comparing with invention\
Innovation is concerned with introduction of new concepts and ideas in a business so
that more customers can be attracted and sales can be increased (Kesting and et. al., 2016) . This
is a process which includes different varieties in which functions can be performed and
organisation can use them fir adapting to various changes taking place in the external
environment.
Invention is a tool which helps in identification and development of a product first time
in a business (McKelvey and Zaring 2018). It is used fir development of a idea which has been
never applied before. Investors posses right to protect their innovation so that it cannot be used
by anyone else.
Importance of innovation with comparison to invention
Innovation is important for every organisation for maintaining their effective position in
market. Bigbelly has been dealing in waste management, which helps them in providing

competition to their competitors. This will help them in bring innovation in their products.
Importance of innovation is discussed below:
 Satisfaction of customer requirements: Innovation can help companies in making new
product launches or making changes in existing products. This is done by determining
requirements of customers (Do and et. al., 2018) . Bigbelly has that the waste collected
by them can be used for the purpose of agriculture and horticulture.
 Competitive advantage: Innovation in already exiting products helps organisations in
getting a competitive advantage which can help in attracting of customers. Bigbelly is
using innovation as a tool for increasing their present sales and having a differentiation
feature in their bottles (Mazzarol and Reboud 2020).
Difference between Innovation & Invention
Basis Innovation Invention
Meaning Innovation is very helpful for
organisation for making
improvements in the products
which can help in increasing
customer loyalty and satisfying
them according to their needs
& requirements.
Invention leads to a complete
new development in product.
This is a process which helps
in offering customers
something new and different.
Which has a risk of being
accepted or not.
Purpose Purpose of innovation is
increasing overall value of
products in which the
organisation is dealing.
Aim of invention is for
bringing something new which
has never been experienced
before.
Required skills Skills required for the purpose
of innovation is strategic skills,
effective marketing skills etc.
Skills required for invention
are completely technical in
nature and there is a need for
identifying the needs and then
making invention to fulfil such
type of requirement.
Functions involved Various functions involved in It depends in different

this process is having relation
with researching and then
using the information collected
from that research for
experiments which are
undertaken by inventor and a
successful attempt leads to
invention of a new product or
service.
P2 Vision of organisation. Culture, leadership & teamwork helping in shaping of commercialism
& innovation
Commercialisation is a process which is associated with introduction of new services and
product on market for achievement of success, growth and increased profits (Sharma and
Kumar 2019). In present case study is based on Bigbelly which is using innovation in their
products as a key for increasing their products demand and benefits for their customers.
Vision: Vision of Bigbelly is providing better quality products to their customers which
can help them in getting a differentiation advantage as compared to their competitors.
This vision is helpful in promoting of innovation which can help in providing better and
customized products to their present customers. So, that overall use of their bottles can be
expanded.
Role of Leadership in a organization: Innovation plays a very important part of every
organisation. In case of Bigbelly employees are made comfortable by leaders as they use
appropriate strategies for making the employees realise the benefits of innovation which can
bring various opportunities of growth for them also.
Role of culture in shaping Innovation: Culture is having relation with beliefs an values
of people in the organisation. Leaders and managers in Bigbelly are willing to maintain
behaviour of employees with respect to having innovative principles, rules and policies. This
culture acts as a guide for overall workforce and helps employees in availing opportunities for
individual development and growth (Lipkova and Braga 2016).
Role of teamwork in Innovation: Innovation is a tool that can help in implementation of
policies of organisation which can help in achievement of set objectives and making customers
understand overall belief of the organisation. Various tools such as effective communication,
strategies can help in achievement of objectives set with respect to new innovation.

Interrelationship between vision, culture and team work in a organisation
Innovation is something which is embedded in the vision and mission of every
organisation and it forms very important part of culture of every organisation. Also, culture of
every organisation is shaped because of effective leadership practises and strategies in a business
(Whitley, Gläser and Laudel 2018). Effective leadership is very helpful for Bigbelly in
achievement of objectives set in the course of business.
M1 Analysing different sources of innovation and how organisation's can develop environment
and culture of innovation
There are different sources of innovation such as various environmental changes,
problems faced by customers, changes made by competitors are some of very common sources
from where innovation can emerge for a organisation. In present case, Bigbelly have successfully
converted problems faced by their target customers into a opportunity to make a innovation in
their product. A effective culture of innovation can be developed by making employees realise
the importance of innovation and overall advantages of innovation for their individual
development (Sources of innovation, 2018). Hence, it can be said that such innovation is very
necessary for ensuring survival an competitive advantage in any organization.
TASK 2
P3 4 P's of innovation and use of innovation funnel for examining and shaping of innovative
ideas
Innovation is very helpful for a business for attainment of competitive advantage.
Different strategies of innovation are used by Bigbelly for developing understanding as discussed
below:
 Product: Products are the offerings which are offered by a company to their customers
for satisfaction of needs their target segment of customers (Polzin, von Flotow and
Klerkx 2016). In Bigbelly the bottles are innovated by use of new innovation which will
increase its use for their customers (Incremental Innovation, 2012). They are introducing
bottles which can be used for workout purposes.
 Process: Various factors which can helps a business in adopting innovation so that
quality products can be delivered to the end customers. Bigbelly is concentrating towards

making their manufacturing process and distribution process more effective so that their
products can easily be positioned in market.
 Paradigm: This is a way which is used for depicting how business can bring innovation
in organisation. Bigbelly have to identify various procedures which can help them in
planning and further implementing of the innovation they are willing to bring in their
business.
 Position: This is related with overall conceptualisation of product & services in society.
Creation of a effective position will help Bigbelly in increasing sales of their product.
Innovation funnel is a tool which is used in management process which can help in
development of a new idea for the purpose of innovation. Several steps which are part of
innovation funnel are discussed below:
1. Idea Generation: It is the first step in process of innovation funnel which is helpful for
the management team of any organisation for developing ideas & thoughts for increasing
of profits in the competitive environment. In Bigbelly when the company realised that
there are cases of wastage of food within environment. Thus an idea is generated for
managing this waste and converting it into organic manure.
2. Idea Screening: In this step assistance is provide to organisation according to the
feedback and response of customers. Examination of these aspects can help Bigbelly in
checking of their innovative idea based on various feasibility test to realise that whether
their ideas will be feasible for long term or not.
3. Testing concepts: In this stage detailed testing is for for making a in depth analysis of
demands and expectations of customers so that overall manufacturing process of products
can be tested. In Bigbelly there are various tests such as customer survey with help of
questionnaire for a specific customer sample is conducted for analysing the brand image
and services.
4. Analysing product development: After there is successful completion of the above
discussed steps there is analysis done in detail of different aspects of the product which
have been developed by a organisation. In context of BigBelly, it is seen that the idea of
organic manure is very good and people are appreciating this a not.

Summarising above discussed points it can bed said that Bigbelly can use firs stage of the
funnel for identification of core competitors by making a detailed research. In next stage where
the funnel is narrowing Bigbelly can work on implementation of strategies for introducing their
products with the innovation. Lastly in narrow part of funnel Bigbelly will ensue that all their
strategies and objectives which have been set are achieved.
P4 Developments in frugal innovation and use in organisational context
Frugal innovation can be used as a technique by various business organisations for
determination of a effective process there are certain steps which are part of this frugal
innovation such as firstly there is identification of opportunity such as in present case Bigbelly
realised that there is a need for managing the waste that is present within society and
environment. This lead to identification of a opportunity. Bigbelly is a brand which is having
their focus in doing more with less which is helping them in developing solution of various
problems faced by their customers. Next step is thinking and implementing which will be helpful
for Bigbelly in making adequate changes in managing the waste properly and converting this
waste into organic manure. This manure is useful for crops and plantations.
M2 Application of innovation funnel in a organisation
Frugal innovation is technique helping in determination of a process so that overall
defects can be removed or minimized. Different aspects of frugal innovation are very helpful in
eliminating various defects which can lead to wastage of resources for a organisation. In
Bigbelly this technique is used for having effectiveness in the overall process of managing
organic manure effectively.
M3 Evaluation of frugal innovation in a organisation
Frugal Innovation: Frugal innovation is basically a process that is used for reducing the
complexity & cost associated with products or services. This is related with removal of features
that are not required in a product. It is very helpful in maintaining cost effectiveness by a
organisation.
Example: some of the examples of frugal innovation are TATA nano car Toyola charcoal stove,
ADAPT housing in Egypt, Moladi housing in south Africa are some of the examples of frugal
innovation where there has been use of innovation in such a manner that it has lead to reduction
of cost.

Frugal innovation is a tool which is very useful in reduction of coverall cost for a
business organization. This is very helpful in enhancing overall cost effectiveness in a
organisation. This is a technique used by Bigbelly while they are planning to make new
development in their organisation.
D1 Development of innovation and it's measurement in a organisation's context.
Innovation is a tool which can be measured in the organisation's context by making a
detailed analysis of three stages which are identification of exploration activities, short term
deliverables and finally analysing near term development (Sharma and Kumar 2017). In case of
Bigbelly these three stages can be evaluated based on results obtained after successful
implementation of the innovation which is being planned by the organisation.
TASK 3
P5 Importance of Commercial Funnel and its application on New product development process
for commercialising of innovation
Commercial funnel: Commercial funnel is basically used as a buying process that
customer are going through while purchasing their products. It is a process that is used by
companies for finding best products for themselves from all the available options.
There are certain steps that are included in the process of commercialisation of innovation as
discussed below:
 Research: In this process, a detailed research has to be conducted by the researcher for
discovering of various innovation process. Multiple researches have been done in the
case of innovation in present scenario, Big belley has also conducted detailed research for
their new innovation process.
 Disclosure: In this process organisation has to disclose their innovation by obtaining IP
protection. Big belly will use this by adopting any one intellectual property right.
 Assessment: In this step, licensing person has tp review the innovation and then disclose
whether innovation will be adopted or not.
 Protection: In this process various available intellectual property options have to be
evaluated in detail. In present scenario, Bigbelly will be using any one of the rights that is
suitable according to their requirement and innovation type.

 Marketing: In this step, finally the innovation has to be licensed. Bigbelly will have to
do all the efforts for obtaining of license so that there application for getting license for
their innovation does not gets rejected.
 Licensing: In this agreement there is a formal contract that is created between licensor
and licensee. In this the owner is generating permission to use IP for a cretin specified
period of time.
 Commercialisation: In this finally the license agreement is signed and license continues
with the advancement of whole innovation. Further this step is related with development,
regulatory approvals , marketing support and training.
It is also regarded sometimes as sales funnel which is basically a buying process used by
customers while purchasing a product. This concept is considered by managers in Big Belly so
that various business functions can be analysed in detail and changes can be adopted in a
effective manner. This has benefits for organisation as customer engagement cam be increased
and overall productivity can also be enhanced.
New product development process:
For introduction of new product it is very important to consider the whole process of new
product development. This process is very helpful in understanding various methods in detail
which have to be carried in while a new product is launched or innovation is done in the existing
product. This process consist of some of steps as discussed below:
 Idea Generation: This is the first stage of process of new products development in
which emphasis is on developing a new idea which has to be concerted into opportunity.
Various factors present in internal and external environment have to be assess so that
appropriate decision can be made. In Big Belly, company has made a detailed analysis of
requirements of customers and need this has lead to generation of opportunity which has
been converted into a innovative idea of having a extra space in the bottles.
 Screening of Idea: In the second stage there is evaluation of the idea generated in the
initial stage. In Big Belly there is evaluation of idea and based on factors such as
associated cost, present distribution network and marketing strategies for making
customers aware of the new launch are aspects which ave to be studied before
implementation of new idea.

 Concept development: In this step Big Belly will be executing various ideas &
strategies based on their technical feasibility, potential of their target market and design
of the new innovated product.
 Development strategies: Research and development is helpful for company in
formulation of various strategies for promoting product in the market for increasing of
overall sales (Sepe and Pitt 2017). There are various strategies which have to be
formulated which can help in increasing of sales.
 Examining conditions of business: This stage there is a detail examination of various
factors which can help in increasing the chances if success of a particular product.
 Development of product: In this stage there is a process which is developed for overall
development of product for this manager in Big Belly will be new development of
product with the innovative feature of extra space for people willing to use it as a gym
bottle.
 Marketing Test: In this stage manager in Big Belly are making a detailed assessment of
new innovative product and this is helping them in meeting demand of their customers.
 Commercialisation: In this stage manager in Big Belly will determine prices of their
new innovative product and develop a marketing plan so that their innovative service can
be launched successful in the market (Lehtimäki and et. al., 2019).
 Product Launch: This is the end stage where Big Belly will finally adopting the concept
of making organic manure by using wastage of vegetables, food, other biodegradable
wastes, etc.
P6 Innovative business case and various ways for accessing funding
Business case
It is a document which is used for clarifying reasons for creation of innovation. In Big
Belly the organisation is concern for increasing their product use the addition of feature for their
gym purposes. Before product will be Launce there is a effective business case which consist of
various components such as development process, conditions of market, strategy of pricing etc,.
Business case is discussed below:
Summary: Big belly is the world leader of recycling solutions and smart waste for public
spaces. It is the company which is established in more than 50+ countries in order to provide
various solutions to the customers so that they can perform their work effectively.

Objectives: The main objective of the company is to reduce wastage and contribute
towards the development of the environment.
Innovation in products: Big Belly is considering term of innovation by converting their
wastage into manure which can be used by large number of people in plantation and many other
functions (Golovanova and Bekaeva 2017).
Research: Effective research can be conducted using methods of online survey and
questionnaire so that overall perception of customers, requisition and demands can be identified
and planning can be done accordingly. Research is done for knowing what are the different ways
for managing organic manure.
Design and development plans: After research has been completed manager has to
make appropriate plans for introduction of product in market. It is important for considering
factors which are having link with process of decision making.
Funds: Funds are required in every new innovation which a organisation is willing to
make. Organisation will be able to identify various different sources such as bank loans, crowd
funding, angel investors, financial institutions as a way for arrangement of funds (Aithal and
Aithal 2016).
In present scenario, Bigbelly will be using bank loans as a medium for arrangement of
financial resources required for the procedure of implementation of innovative change.
Ways to access funding: There are various different ways that can be applied for access
funding that are discussed below:
Bank loan: BANK LOAN is one of very popular and safest methods that can be used by
organisation for fulfilment of their financial requirement. It is a source from which money can be
arranged easily. There si a fixed rate of Interest that has to be paid in case of bank loan, there are
certain key requirement that have to be fulfilled by loan seek after that it can easily be repaid
after the completion of fixed period of time.
Crowd funding: Crowdfunding is also a method that is gaining lot of popularity where
finance is not arranges from a single source but there are several sources that are contributing
towards their fund requirement. In this usually overall goals of a business are mentioned and
parties who can provide finance come forward to make contribution towards it. This method is
helpful in spreading of risk over large number of people.

Angel investors: Angel investors are those who are willing to invest in a new business or
providing them with the required amount of capital for starting up or for implementation of a
new innovation. In this investor is supplying funds in exchange for a position in the company.
Venture capital: Venture capital is a equity financing that is provided by various venture
capital firms or in case of early stage financing for emerging companies. Venture capitalist are
those who usually willing to take higher risk and are in hope of becoming successful in the future
course of business.
M4 Detailed business case and use of appropriate techniques for testing, iterate and making
needed improvements
In above mentioned case study of Bigbelly, there are various business methods, tools and
techniques that are present in market which can be used by companies. Some of them are bricks
and morter, bricks and clicks , e-commerce etc. Bigbelly are also making use of such models
which can help them in making their innovation more useful for people aware of their
innovation.
TASK 4
P7 Evaluation of tools for organisations for retaining and protection of intellectual property
rights
Intellectual property is the outcome of various ideas generated in the minds of
individuals. It is a right in the form symbols, design, images etc. There are different types of IP
rights which are governed by the law. Some of them are Trademarks, patents and copyrights.
 PATENTS- It is a form of right which is issued by government in context to not allowing
or say not giving permission to other people to use the owner product for a period of
time. If someone try to copy the signs, name, or designs than accused can land into prison
or will have to pay heavy fine in reference to judgement of court. But who is eligible for
patent, person or individual who discover or invent something new in and like articles,
software, or machines etc.
 Advantages : Patents are helping a organization in stopping any other organisation in
using or copying the invention of organisation. It is very good source of revenue fir
various organisations.

 Disadvantages: Usually applying for patent is a very lengthy procedure and might not
preferred by companies because of its complexity level. Hence, many time Companies
make attempts of not going for patents as a intellectual property right.
 TRADEMARKS- This is also a intellectual property right that is stated by the law. It
refers to signs, words, design which indicates a products identity. Mostly in this right,
copying or intimating someone's words, signs or say expressions that are already have
been registered by the others are determine. Also trademarks have different logos based
on the product or service attributes (Rotstein 2019).
 Advantages : Trademarks are very helpful for a business organisation in providing them
with a different identity. It helps in getting a distinguished identity in the competitive
environment which they are functioning.
 Disadvantages: usually trademarks are associated with high costs. It is also subjected to
revoke in certain circumstances.
 COPYRIGHTS- This is another intellectual property law which states that it permits the
owner of artistic work to decide how and who can use their stories, articles, scripts etc.
This also helps individual to earn money by allowing other to use their work by selling
as a service. Sometimes copyrights can be used in wrong way also without consent of owner. In
such cases, a company can sue the other party for using it without permission.
 Advantages : Copyright helps a organisation in getting a right of creating a piece of
intellectual property and sole right of reproduce that work. They can also earn a good
amount from it by selling it to any interested parties.
 Disadvantages: Copyright law is not making a requirred distinction between commercial
and non commercial purpose of work. It sometimes leads to lot of confusion for people
regarding copyright issues.
After a brief report of several intellectual property rights it has been concluded that
Bigbelly are using patents to protect their product innovation from others. It depends on product
or service that for which rights they are eligible. Big Belly can also use copyright for providing
it's new organic manure to people.

M5 Evidence based evaluation with context to macro environment
Macro environment also includes economic factors refers to those that affect business as
a whole. These are the external factors can act as indirect blocks for organisation. Patents are
useful for economy and nation of a country as well (Sheikh and Bhaduri 2019) . This is because
it stimulates growth and boost the sales of business. Also with use of patents alternatives will be
careful while launching the products in the market as it will reduce the conflicts amongst the
business. Bigbelly have been able to focus on their core activities because of their own product
rights which have leads to increase in sales revenue.
D2 Nature of innovation for developments and providing evidence for organisation in
overcoming challenges.
There are many challenges in a business organisations and fort Bigbelly also there are
several challenges such as operational functioning of how can functions can be managed in a
most effective manner (De Coster and McEwen 2018). There are certain changes such as change
in overall structure of Bigbelly, change in overall process of manufacturing are some of the
challenges which can arise while overall innovation process is being implemented in a
organisation.
CONCLUSION
From above conducted study it can be said that innovation is a term which is used by
organisation in their business activities according to present market segments, there are many
changes taking place in the external environment which have to be adopted for ensuring survival
for long term. NPD processes and commercial funnel are tools which can be used by business
organisation for collecting information and launching the innovation in existing product. Various
tools of intellectual property rights can also be used for protecting the innovation done by a
organisation.

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<http://www.incrementalinnovation.com/innovation-management-development/7-
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