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Innovation and commercialisation - Uber eats Assignment

   

Added on  2021-02-18

13 Pages4116 Words266 Views
Innovation andcommercialisation

Table of ContentsINTRODUCTION...........................................................................................................................1L01...................................................................................................................................................11. Innovation and its importance to Uber eats in comparison with invention........................12. Description of how Uber eats vision,.................................................................................2leadership, culture and teamwork help to shape innovation and commercialization............2L02...................................................................................................................................................33. 4 P's of innovation and use of innovation funnel in shaping innovative ideas...................34. Explaining developments in frugal.....................................................................................5innovation and its example....................................................................................................5L03...................................................................................................................................................55. Importance of commercial funnel and the application of new product developmentprocessing for commercialization of innovation....................................................................56. Innovation business case for Uber eats, including ways to access funding.......................6LO4..................................................................................................................................................77. Evaluating the different tools that......................................................................................7Uber eats can use to develop, retain......................................................................................7and protect knowledge and intellectual.................................................................................7property..................................................................................................................................7Conclusion.......................................................................................................................................8REFERENCES ...............................................................................................................................9

INTRODUCTIONInnovation means process of bringing a new idea into a god or services so that it can addvalue to them. It helps in increasing organizational value and sales of the company.Commercialisation is the process of brining all the innovation and invention together in order tobring a new product in the market. In this present report, Uber eats is chosen for assessment.Uber eats is an online food delivery company in United Kingdom. This present report will focuson Innovation and its importance to Uber eats in comparison with invention. In addition to this,4 P's of innovation and use of innovation funnel in shaping innovative ideas will be described inbrief. Furthermore, Importance of commercial funnel and the application of new productdevelopment processing for commercialization of innovation will also be covered. L011. Innovation and its importance to Uber eats in comparison with invention.In a business organization, Innovation means changing the process or brining moreefficient and effective process to run a business. It means to bring something new by launching acomplete new product or by brining a change in the existing product or service. Innovation helpsin changing the existing process and products for customers.Innovation refers to the procedure of converting an idea or invention into a good or service thatdevelops value or for which customers will pay. Invention refers to a unique or novel method, device, mixture or procedure. The invention is aprocess within an overall engineering and product development process. Importance of Innovation in comparison to invention in case of Uber eatsInnovation is to bring something new by launching new products and services or makinga change in the existing product or service (Rangus and Slavec, 2017). Uber eats is a fooddelivery company in United Kingdom. In this competitive market every company needs to comeup with something new and innovative. Invention is all about a new idea, new product or changein the process of giving services by brining something different to gain the advantages incompetitive world. Whereas, Invention is brining the competitive advantage in to action.Organisation which are coming up with something new and changing its process by usingadvance technology are more successful. As every person likes to have something different andnew from others that is the reason behind success of innovative companies. In case of Uber eats,1

company is focusing on brining new services so that people can use their services for orderingfood. Being innovative has increased the value of company to a great extent in last one year.Innovation always have more importance than invention. As no invention is possible withoutinnovation, but both helps in covering a large area of market and in earning competitiveadvantage. 2. Description of how Uber eats vision, leadership, culture and teamwork help to shapeinnovation and commercialisation.Innovation is all about bringing a new idea and main aim behind innovation is to capturemaximum possible market. By brining a change In the product and services an organisation canexpand its share of market and achieve its goals and objectives. Commercialisation is the processof brining all the innovation and invention together in order to bring a new product in the market.Vision: “Creating the future of food delivery takes empathy, innovation, and an appetite forcomplex logistical challenges”Team work: In case of Uber eats, company focuses on team work more than it believesthat when people work together they can bring more results and output. Team work In acompany helps in sharing ideas, thoughts and skills. This helps in bringing something due tosharing and adaptation of ideas. Innovation in an organisation can only be possible when everymember comes together as a team and share their new ideas and thoughts. So team work alwayshelps in brining innovation and commercialisation in company. Uber eats is also following thestrategy of teamwork where all its employees are working together to launch new ideas andstrategies by way of changing their service procedures.Culture: Organisational culture is all about the value and norms of a company and theprocess of working that is to be followed by employees of the organisation. Culture of anorganisation differs according the countries as it is being shaped as per the values of the nation aswell. Because every country have their own rules and laws, so one thing that is valid for one canbe void for the other. Cultural difference has affected innovation and commercialisation to agreat extent. Like Uber eats has to make changes in its policies and bring innovation as per theculture of the country. Taste and preference of people must be considered before adopting anynew idea in process (Loon and Chik, 2018). Commercialisation is all about brining all theinnovation and invention together in order to bring a new product in the market. Thus, it can be2

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