Analysis of Innovation and Commercialization Papers

This assignment requires a detailed examination of various research papers on innovation and commercialisation. The provided list includes multiple articles from reputable sources, covering topics such as open innovation in universities, synthetic biology, R&D efficiency, technology entrepreneurship, metropolitan innovation systems, patent assertion entities, product innovation processes, direct protection of innovation, public procurement, crowdfunding, and the relevance of stem cells in regenerative medicine. A suitable title, meta title, and meta description have been generated for publication on Desklib.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Importance of Innovation and comparison with inventions.................................................1
M1 Different source of Innovation.............................................................................................3
D1 Analysis of innovation development in reference to organisation........................................3
P2 Role of Organisational vision, leadership, culture and teamwork to shape innovation and
commercialisation.......................................................................................................................3
P3. 4 Ps of innovation and use of innovation funnel to examine and shape innovation ideas ..5
M2. Analyse and apply the innovation funnel in an organisational context...............................6
M3. Evaluate the role of frugal innovation in an organisational context....................................7
D2.Evaluate the nature of innovation and challenges to develop successful innovations..........7
TASK 2............................................................................................................................................7
Covered in PPT...........................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Innovation is simply new idea or method of doing things. It is viewed as solution to the
people problems. It is a process of converting an idea or invention into a good or service for
which customer will pay. The company Tesco Plc is selected for present report. Tesco is a
multinational groceries and general merchandising retailer, headquarter in Welwyn Garden City,
Hertfordshire, England, United Kingdom. The innovation and invention and their importance in
today's dynamic world has been explained in present report. As organisational vision, leadership
culture and teamwork can shape innovation and commercialisation which is also explained under
this report. The 4Ps of innovation and innovation funnel plays vital role in to examine and shape
innovative ideas is also being discussed in the report. Beside this, development in frugal
innovation in reference to organisation has also been explained.
TASK 1
P1. Importance of Innovation and comparison with inventions
Innovation:
It is a process of bringing up new idea about a product or services into the organisation
which has great impact on the success of organisation. Innovation refers to the new concept or
products that derive from individual idea or from research. Basically it is the commercialization
of invention itself. The importance of innovation in organisation are as follows:
Innovation Report:
Company Location and
Deal in
Innovation Number of
employees and
expected budget
Tesco Plc multinational
groceries and
general
merchandising
retailer,
headquarter in
Welwyn Garden
Company has
been facing
decreasing sales
from last few
years so now
coming up with
its new mobile
As there will be
approximately 7
number of
employees will be
required to launch
and continuous
monitor the
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City,
Hertfordshire,
England, United
Kingdom.
application for
home delivery
services.
application. And
it will be cost
around 10000
GBP.
To take competitive advantage:
There is cut throat competition in the market and one can not sustain in market without
innovation. As to overcome or to take competitive advantage there should be innovation whether
its product innovation or its a process innovation. Being an innovative consultant of Tesco to
increase their sales company should come up with their new mobile application service for
home delivery of products (Abdul, Murray and Roberts, 2014).
To get higher profits:
Innovation is very important to get the higher profits. As if company come up with new
idea or technology then it enables a company to charge the higher rates from normal and to book
higher profits. So to increase sales and profits it is very important for Tesco to come up with
innovation and book higher profits (Balmer, Bulpin and Molyneux-Hodgson, 2016).
Helps in building brand:
To create a brand image it is very important to have innovation in their process or in
products. As it allows company to build brand by delivering innovative products and services to
the customers. Being a member of innovation team consultant of Tesco, the company can build
brand by implementing the idea of mobile application for home delivery of products and services
(Chun Chung and Bang, 2015).
Invention:
Invention is the act of creating, designing or discovering a device method, process which
has not existed before. It is process within an overall engineering and product development
process. It refers to that something has never been made before.
Difference between Invention and Innovation
Basis for comparison Invention Innovation
Meaning It refers to occurrence of an It is the implementation of idea
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idea for the product or process
which has never been made
before.
for product or process for very
fist time.
Related to It is mainly related to the
creation of new product.
Innovation is related to the
adding value to something
which is already existed
Concept It is based on original idea and
its working theory.
Its based on practical
implementation of new ideas.
Skills Scientific skills are required
for invention
It just require some marketing,
technical and strategic skills.
Occurs A new idea strikes to a
scientist
It occurs when there is
problem faced by the
customers. Or need arises or
felt for improvement in
existing product.
Concerned with Basically invention is
concerned with the single
product or process
It is the combination of various
product and process.
Activities The activities are limited to
research and development
department of company.
M1 Different source of Innovation
Innovation is basically improvement in existing product or coming up with new ideas in
company. As there are various source of innovation by which companies come up with new
ideas. The employees of company are incongruities they think differently from society and their
competitors than innovation arises. As if there is need for something new like in Tesco there is
need for online delivery of products and services than they have came up with this new idea. The
companies also provide innovative and healthy environment so there employees can thinks
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differently and come up with new ideas. So these are the ways or source of innovation in
companies (Cunningham, 2013).
D1 Analysis of innovation development in reference to organisation
The development of innovation is based on the need of customers, creative employees in
organisation, changes in market structures etc. are the reason for development of innovation. As
in case of Tesco, company has been suffering from low sales for previous years. So to increase
the sales of company, as a consultant of innovation has come up with new idea of mobile
application for the online delivery of products and services of organisation. As company has
measured that there sales would be increased by launching the mobile application. And revenues
could also be increased.
P2 Role of Organisational vision, leadership, culture and teamwork to shape innovation and
commercialisation
The main purpose of innovation is to create or come up with new ideas. And invention
helps the actualize the innovation and decode of these new thinking. Overall goal of innovation
and invention is to commercialize the products and services company. Commercialisation is a
process of summing up all innovation and invention together, marketing of these innovation for
proper communication to the customers. Basically commercialisation is process of launching
new product or service in market for public (Dincer, 2017). As to support or shape innovation
and commercialisation of Tesco there is vision, leadership, culture of organisation which are as
follows:
Vision:
Vision is a statement of an organisation objectives which shows what an organisation
would like to accomplish in long term. As for commercialisation of product in market there are
different factors which affect the process of innovation and commercialisation. The vision of
Tesco is to provide home delivery services of its products to the customers and for this it require
innovate new ideas and thinking about existing system of company. After thinking new idea it
require to commercialize the product in market, it is the way to enter in market by launching new
product. So vision of company has great impact on the invention and innovation process. The
vision of Tesco is initially to serve 30 cities of UK and according to vision invention and
innovation process takes place (Evers Cunningham and Hoholm, 2014).
Leadership:
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Leadership is a technique of organising company according to goals and objectives of
organisation. It helps the company to achieve their predetermine goals of company accordingly.
There are various types of leadership style like autocratic, democratic, participative and laissez
faire. As being a consultant of innovation, participative leadership is best fit for Tesco. This will
aid in to achieve the goals of company easily and motivate followers to give their best effort for
successful development of their innovation of mobile application.
Culture:
Organisation culture is beliefs, assumption, behaviour of employees which are performed
in a company for many years. Simply it is process which needs to be followed by everyone in
company. Culture is shaped by countries values and behaviour due to cultural difference of
various countries. So cultural difference has huge effect on process of innovation and
commercialisation of product or service of organisations. As for Tesco to meet its goals and
objectives, company has to shape process of innovation and invention according to culture of
particular country.
Team:
Team is very important to perform the task of organisation and to solve problem in a
consequences of organisation. Team plays a vital role to complete the process of innovation and
invention in Tesco. As Tesco has the team to perform entire task to innovate and commercialize
the product. If these team work according to organisational goals and objectives than this process
of innovation and invention can be apply effectively in organisation (Fischer, Diez and Snickars,
2013).
P3. 4 Ps of innovation and use of innovation funnel to examine and shape innovation ideas
Innovation is the process to translating an idea or invention into a good or service that
creates value or which people are ready to pay. It should be the unique in the nature and it helps
the company get competitive advantages in the market. Tesco can bring innovation in its
organisation for effective working. There are 4 Ps of innovation which are as follows:
Paradigm:
Paradigm is used by the company to faces the changes by using innovative thinking and
idea. It is relates to the mental models which can shape what an organisation is about. Tesco can
make plan that how it will do its business in changing environment and condition. So it uses new
packaging of its products so that is can be usable by the consumers for a long time. If company
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used paradigm in its business then its shows the capability of management that it is able to make
plan of its business and think innovative. Means what they do to implement the plan and how
they do it. (HansonHanson and Pavitt, 2013).
Product:
Product is the most important item of the company which is deliverable to the consumers
so it is essential that it should be valuable. As a team innovation consultant of Tesco, it can use
innovation in grocery preservatives so that durability of food can be enhanced. It shows the
capability of management that they are using innovative things to preserve the things for a long
duration.
Process:
Process is the way of delivering the grocery to the customers and it should be effective.
As a team innovation consultant of Tesco, it can reduce the delivery process time so that it can
be quickly available to the customers. It shows the capability of management that they are using
innovative which help them to make fast delivery.
Position:
Position of a company can be enhanced by using the innovation in its business. As a team
innovation consultant of Tesco, It can improve its position in the market by proving better
grocery products with effective quality to the consumers. It can help the organisation to increase
its sales and profits (Hemphill, 2014). It shows the capability and management of innovation that
they are able to provide better quality of food products. Company should engage in process
innovation so that its delivery system can become fast.
Innovation funnel to examine and shape innovative ideas:
Innovation funnel can be used by the companies to identify and describe the steps that
take place in developing a product or process. It is used to make process and products as per the
needs of consumers so that it can satisfy the wants of customers. For the development of the
precess there are various information is required which can be collected through market research,
competitors,existing partners etc. It gives the insights to the organisation that how they can
develop and use of innovation so that objectives cab be achieved by it. There are three steps of
funnel such as awareness, interest and evaluation. Awareness helps the Tesco to inform about its
products. Interest help the organisation to know the needs, wants and interest of consumers so
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that they can satisfy the consumers. Evaluation help the company to understand that their
products are able to meet the customers demands or not and what improvements should be
implemented in future. It helps the Tesco for better and effective management.(Khan and et. al.,
2014)
P4. Developments in frugal innovation and how it is used in the organisation
Frugal innovation is a process which can be used by the companies to introduce a new
service or product idea in context of using scarce resources. It depends on the many factors like-
environmental, social and political factors. In innovation process these factors provides help to
shape its process. It can provide help to reduce expenses in manufacturing of a product. It can be
beneficial for the company that its products are available at economical rate which can be easily
purchase by the consumers. It responds to limitations in resources whether material or financial,
and applying different types of methods which constraints into an advantage for the organisation.
It provide the help to minimise the use of resources in the product development and delivery
because it helps to minimise the cost of product and service. For example, As a team innovation
consultant of Tesco, it can develop a mobile app which can be access by the consumers in their
smartphones.
It provides all products of the organisation in the app. There are thousands of videos and
cooking tips are available which can be use by the customers. There are recipes are also available
in the app which help to know about the ingredients which are used in preparing the food.
Consumers can order the grocery on the basis of items used in making the food. Organisation
also deliver the products at home of consumers means home delivery facility is also available.
There are various steps which are involved in the frugal innovation such as follows:
Identify the target market:
To analyse the target market helps the company to make products on the basis of needs
and demands of consumers. Tesco can identify the target market to know the potential
consumers so that it can grab more market share.
Analysis of the environment:
Analysis of the environment is important for the company to make decision according to
it. Tesco analyse all the environmental factors such as political, legal, environment,
technological, social etc. It helps the company to protect it from the negative affect of these
factors.
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Pattern based ideation:
Pattern based ideation is necessary to determine of suitable combination of solution
patterns. Tesco apply the patterns to develop the solution ideas and evaluation of solution ideas.
So that company can find better and innovative ideas if they are facing any problem in the
organisations.
These process of frugal innovation help the Company to think better and use innovation
in its business so that it can achieve sustainable success.
(Sengoku, 2015).
M2. Analyse and apply the innovation funnel in an organisational context
Innovation funnel can be used by companies to develop a product or process and it
involve the steps which are need to be taken for it. It can help the companies to satisfy the need
of consumers. It gives the ideas to the organisation that how it can apply if for the organisational
success and growth. Tesco can use innovation funnel to make its process of delivery effective
and faster so consumer does not need to wait for the delivery. Company can also increase its
delivery in a single day from the regular days. It helps the organisation to improve its efficiency.
M3. Evaluate the role of frugal innovation in an organisational context
Frugal innovation is helpful for the companies when they want to develop a product or
process. It helps the Tesco to minimise its cost of production so they profit margin can be
maximize. There are various resources which are used to produce a product. Its is not necessary
that all resources are available in a country are sufficient. There are various resources which can
be import from other countries for the manufacturing of a product. So frugal innovation can help
the company to produce the product at lower rate with minimising the use of resources in product
development (Scholz, 2015).
D2.Evaluate the nature of innovation and challenges to develop successful innovations
Innovation is a process which can be used by the company to develop a product with the
using of new idea. Tesco can use it in its delivery process so the nature of innovation is process
innovation. There can be various challenges which can be faced by the organisation to be
successful. There is a challenge in front of the company that how it can develop the effective
delivery process. In that case organisation can use innovation by launching a new application. By
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using this app a consumer can give online order and product can be deliver in its home so it can
be the solution and it helps the Tesco to be successful (Sonne, 2012).
TASK 2
Covered in PPT
CONCLUSION
As from the above report, it has been concluded that innovation and commercialization
are important because it provide help in rapid growth of the company. As Tesco is using
innovation in its organisation so that it can increase its sales with satisfy the customers. It is
using frugal and funnel innovation so that organisation can get the benefited from it and
innovation and innovation and commercialization helps to maintain effective vision and
leadership so that its management can be improves. Apart from it company has gone through
with the different tools of intellectual property which help the organisation to protect its
innovative ideas.
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REFERENCES
Books and Journals
Abdul Razak, A., Murray, P.A. and Roberts, D., 2014. Open innovation in universities: The
relationship between innovation and commercialisation. Knowledge and Process
Management. 21(4). pp.260-269.
Balmer, A., Bulpin, K. and Molyneux-Hodgson, S., 2016. Synthetic Biology: A sociology of
changing practices. Springer.
Chun, D., Chung, Y. and Bang, S., 2015. Impact of firm size and industry type on R&D
efficiency throughout innovation and commercialisation stages: evidence from Korean
manufacturing firms. Technology Analysis & Strategic Management. 27(8). pp.895-
909.
Cunningham, S., 2013. Hidden innovation: Policy, industry and the creative sector. University of
Queensland Press (Australia).
Dincer, I., 2017. Importance of research, innovation and commercialisation for technological
success. International Journal of Research, Innovation and Commercialisation. 1(1).
pp.8-22.
Evers, N., Cunningham, J. and Hoholm, T., 2014. Technology entrepreneurship: bringing
innovation to the marketplace. Macmillan International Higher Education.
Fischer, M. M., Diez, J.R. and Snickars, F., 2013. Metropolitan innovation systems: theory and
evidence from three metropolitan regions in Europe. Springer Science & Business
Media.
Hanson, P., Hanson, P. and Pavitt, K., 2013. The Comparative Economics of Research
Development and Innovation in East and West. Routledge.
Hemphill, T. A., 2014. Patent assertion entities: do they impede innovation and technology
commercialisation?. Technology Analysis & Strategic Management. 26(7). pp.717-731.
Khan, R. S., and et. al., 2014. Differentiating aspects of product innovation processes in the food
industry: An exploratory study on New Zealand. British Food Journal. 116(8). pp.1346-
1368.
Kingston, W. ed., 2013. Direct Protection of Innovation. Springer Science & Business Media.
Lember, V., Kattel, R. and Kalvet, T. eds., 2013. Public procurement, innovation and policy:
International perspectives. Springer Science & Business Media.
Maritz, A. and Donovan, J., 2015. Entrepreneurship and innovation: Setting an agenda for
greater discipline contextualisation. Education+ Training. 57(1). pp.74-87.
Scholz, N., 2015. The relevance of Crowdfunding: The impact on the innovation process of
small entrepreneurial firms. Springer.
Sengoku, S., 2015. Innovation and commercialisation of induced pluripotent stem cells. Stem
cells in regenerative medicine: Science, regulation and business strategies. pp.423-446.
Sonne, L., 2012. Innovative initiatives supporting inclusive innovation in India: Social business
incubation and micro venture capital. Technological Forecasting and Social Change.
79(4). pp.638-647.
Online
Commercialisation and Innovation. 2018. [Online]. Available
through:<https://www.innovationpolicyplatform.org/content/technology-transfer-and-
commercialisation>
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