Innovation and Commercialisation: A Case Study of Ella's Kitchen

[INNOVATION AND COMMERCIALISATION]

Table of Contents
INTRODUCTION........................................................................................................................2
TASK 1...................................................................................................................................... 3
P1 EXPLAIN INNOVATION AND DETERMINE ITS IMPORTANCE TO ORGANISATIONS IN
COMPARISON WITH INVENTION..........................................................................................3
M1 ANALYSE DIFFERENT SOURCES OF INNOVATION AND ORGANISATION CAN FOSTER
AND DEVELOP AN ENVIRONMENT AND CULTURE OF INNOVATION....................................4
P2 EXPLAIN HOW YOUR ORGANISATIONAL VISION, LEADERSHIP, CULTURE AND
TEAMWORK CAN SHAPE INNOVATION AND COMMERCIALISATION....................................5
TASK 2...................................................................................................................................... 6
P3 EXPLAIN THE 4Ps OF INNOVATION AND EXPLAIN THE USE OF THE INNOVATION
FUNNEL TO EXAMINE AND SHAPE INNOVATIVE IDEAS........................................................6
M2 ANALYSE AND APPLY THE INNOVATION FUNNEL IN AN ORGANISATIONAL CONTEXT...9
P4 EXPLAIN DEVELOPMENTS IN FRUGAL INNOVATION AND PROVIDE EXAMPLES OF HOW
IT IS USED IN AN ORGANISATIONAL CONTEXT...................................................................10
M3 EVALUATE THE ROLE OF FRUGAL INNOVATION IN AN ORGANISATIONAL CONTEXT.......11
TASK 3.................................................................................................................................... 12
P5 EXPLAIN THE IMPORTANCE OF THE COMMERCIAL FUNNEL AND THE APPLICATION OF
NEW PRODUCT DEVELOPMENT (NPD) PROCESSING FOR COMMERCIALISATION OF
INNOVATION...................................................................................................................... 12
P6. BUILD AN INNOVATION BUSINESS CASE IN AN ORGANISATION, INCLUDING WAYS TO
ACCESS FUNDING............................................................................................................... 13
M4 BUILD A DETAILED INNOVATION BUSINESS CASE FOR THE CHOSEN ORGANISATION
WHICH INCLUDES HOW TO MEASURE ITS OVERALL EFFECTIVENESS USING APPROPRIATE
TECHNIQUES AVAILABLE TO TEST, ITERATE AND IMPROVE...............................................14
TASK 4.................................................................................................................................... 15
P7. EVALUATE THE DIFFERENT TOOLS THAT THE ORGANISATIONS CAN USE TO DEVELOP,
RETAIN AND PROTECT KNOWLEDGE AND INTELLECTUAL PROPERTY................................15
M5 PRESENT SUPPORTED EVIDENCE-BASED EVALUATION OF THESE DIFFERENT TOOLS IN
THE CONTEXT OF THE WIDER BUSINESS ENVIRONMENT...................................................16
CONCLUSION.......................................................................................................................... 17
REFERENCES........................................................................................................................... 18
1

INTRODUCTION
In order to survive in this intensely competitive market, organizations need to continuously
improve their market offerings and procedures. Innovation is extremely important for the
companies that implement strategies to grow and expand in a business environment. The
proper commercialisation of market offerings of the organization is to be done to register
success and growth of the same (Rasmussen, 2010). This assignment helps in understanding
the implanting of innovation and commercialisation in the culture of the organization such
as Apple and Virgin group and is benefits to the employees of the organization.
Ella’s kitchen was started by Paul Linley in the year 2006 offering baby-food in the market. It
offers organic, healthy and natural food products for children who are at weaning stages.
Ella's kitchen is taken as a study to understand the significance of innovation and
commercialisation in their market offerings to stay in leading position in baby food market
(Ella's kitchen, 2018). The mission of Ella's kitchen is to provide healthy and natural foods to
the children at their weaning stage.
2

TASK 1
P1 EXPLAIN INNOVATION AND DETERMINE ITS IMPORTANCE TO
ORGANISATIONS IN COMPARISON WITH INVENTION
INNOVATION
Innovation has been classified into two types by the economists that are product and
innovation. Product innovation is referred to the act of introducing new market offerings
with the aim of improving range and quality of products, Such as Apple had introduced iPod
which replaced the Walkman and other portable devices used to hear music (Lee, et al.
2010). Process innovation is developing new activities, procedures and actions or making or
delivering the market offerings by the organization. For example, online platforms have
been integrated into the different business areas such as travel, finance, entertainment and
lifestyle by Virgin Group.
DIFFERENCE BETWEEN INNOVATION AND INVENTION
Invention Innovation
The invention can be defined as the creation
of market offerings or introducing a process
for the first time.
Innovation can be defined as improving or
making significant changes in the existing
products services or process
The products and services invented is
something original and new to the world
(Chun, et al. 2015).
The products and services innovated may be
new to the company or industry but afresh
to the world.
The invention can be defined as distinct
creative act.
Innovation includes the process of changing
the habits by convincing the people to
replace existing products or services.
A major concern in innovation is on the
single product or processes.
A major focus is on the combination of
various products or processes in innovation
(Chun, et al. 2015).
The invention is a generation of substantial
ideas by transforming the novel notions.
Innovation is converting the inventors’ idea
into practice through the primary attempt.
A major concern by inventor and people is
on the physical reality of products and
services.
However, both physical and human reality of
the market offerings is considered by
innovators.
3