Innovation and Commercialization

This document discusses the concept of innovation and its importance to enterprises in comparison with invention. It explores how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The document also explains the 4Ps of innovation and the use of the innovation funnel to shape innovative ideas. It discusses the development of frugal innovation and provides examples of how it is used in the enterprise. Additionally, it describes the significance of the commercial funnel and the application of New Product Development (NPD) processing for the commercialization of innovation.