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Importance of Innovation in Organisation : Report

Added on - 21 Jul 2020

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Innovation andCommercialisation
Table of ContentsINTRODUCTION...........................................................................................................................1PROJECT 1......................................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of innovation to an organisation in comparison with invention.........................1P2 Organisational leadership, vision, teamwork and culture shapes innovation andcommercialization.......................................................................................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONThis change is fundamental in order to manage the development process a well asproduce services and good according to demands and expectation of consumer. Though,innovation is essential, this is required to commercialise new concept or idea to attract targetconsumer which play a crucial role in increment of sales of services as well as market share ofenterprise (Ansell and Gash, 2012). The organisation render quality services and products tocompany as well as create a genuine impression among public. The report will analyse variouspurpose or meaning of invention and innovation. This assignment will also evaluate impact ofteamwork, leadership, culture on commercialisation and innovationPROJECT 1TASK 1P1 Importance of innovation to an organisation in comparison with inventionThe main important aspects in present era is changing and altering technology which istransforming the trends in more advanced and modified way. Commercialisation is formingprocess of fresh goods and services through using several effective marketings and promotionaltools to access in new trade. Entire industry is on their way for innovation for gaining more andmore consumer as well as portraying unique recognition of work within the environment.InnovationInnovation refer to implementation of resolution in effective way that enable in achievingunarticulated requirements, new needs as well as existing demands of trade. Consumer is acomplex or challenge that can be resolved through the help of new products inventions (Boonsand Lüdeke-Freund, 2013). This is often presented as the execution of effective business solutionfor attaining new business requirements, needs of existing requirements and unarticulateddemands. It involve evolution of processes, technologies, products, processes and other businessmodel according to demands of society, governments and markets. A business company requireto inn vote their products and services within a span of time in order to meet new requirementsand suit according to demands and trends. It is considered as organised engineering process thatmake amendments in features of products for suiting in consequences. In order to make aninnovation, first of all this is required for essence drink to understand the concept of invention1
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