This document discusses the concept of innovation and commercialisation in organizations. It explores the importance of innovation and compares it with invention. It also explains how organizational vision, leadership, culture, and teamwork can shape innovation and commercialisation. The document further delves into the 4Ps of innovation and the innovation funnel, highlighting their use in examining and shaping innovative ideas. Additionally, it discusses the concept of frugal innovation and provides examples of its application in an organizational context.