Innovation & Commercialization: Heinz UK

INNOVATION AND
COMMERCIALISATION

INTRODUCTION
The innovation is defined as creating ideas which are new, imaginations and thoughts
which are creative in order to form a product or method. It is also defined as application of
improved solutions which meets the unarticulated needs, requirements and existing markets. It is
related with development of new product whereas commercialization means running and
managing a business with a purpose to earn financial gains. The report is based on Heinz UK.
The firm is established in January 1869. The company founder is Henry J. Heinz. It mainly deals
in beans, ketchups and soups.
The study will explain the innovation and its significance in the organizations and also
compare it with invention. It will describe how organizational culture, leadership, vision and
teamwork help to shape the innovation and commercialization. Furthermore, it will explain
innovative 4 ps & also define various uses of the funnel innovation for examining & shaping the
innovative ideas. It will define the significance of commercial funnel and NDP processing in
order to do commercialization of innovation. The report will build the business case for
innovation within the organization. It will evaluate various tools which the organizations use for
retaining, protecting, intellectual property and knowledge.
LO1
Importance of innovation in the organizations and its comparison with invention
Innovation - It refers as creation of new product or to bring some creative idea and method in
the organization (Gross and et.al, 2018). Its aim is to improve the efficiency and effectiveness of
the organization for gaining the competitive advantage. There are various drivers which push the
innovation process that includes courage, thinking, intellectuality and differentiation.
Invention – It refers as discovering a thing or product for very first time in the world. It is the
process or series of steps of making and creating or to figure out a way for executing some
activity. Invention is derived in wider concept and it is done for the sake of society benefit. It is
the commencement of actual thinking or idea into the action.
Innovation and invention differentiation

Innovation Invention
It is the process of introducing the new
concept or product for the purpose of
commercial success (Dincer, 2017).
Innovation is done after a product is being
discovered in the invention.
It refers as creation of new product or device
for the very first time. Invention take place for
the first time then the innovation is done for
making changes in that particular invented
product features, quality or taste.
Innovation is done for driving the
organizational success. It gives firm a
competitive advantage.
Invention is to make something without
proper verification that it will work or not or
whether it is commercially valuable or not.
Innovation means to make or add something
in existing product.
Invention means to make or launch a new
service or product.
For doing innovation in the organization there
is need of marketing and strategic skills.
For doing invention there is need of scientific
skills.
Business value enhance with the help of
innovation.
Company value increases through invention.
Importance of Innovation in case of Heinz UK
Heinz UK is successfully operating their business as they have been loved and have
trusted brands among the customers. Heinz have innovated baked bean cuisine which can be
incorporating into various recipes such as Cheesy Pasta Bake, Sausage Hot Pot etc (Innovation at
Heinz, 2019). They have also innovated Barbie pasta shapes and baked beans which targets 3 to
10-year-old girls. This comes under pink packaging for attracting the girls mind. This product
had launched with an offer for a Barbie watch after collection of several tokens. This scheme
helps the company to increase their brand loyalty and girls will do repeated purchasing for the
collection of tokens. Another innovation is that they have introduced flavored purified water for
the babies. New range of infant products helps the company to increase their customer base and
drive their business to achieve higher profitability.
With the analysis it is clear that another major factor of using innovation is competition
and this is due to the reason that the competition in the global market is very high and due to this
there is necessity of using the innovation. Another major factor is the demanding consumer that