Innovation and Commercialization: Importance, Comparison, and Frugal Innovation

This document explores the concept of innovation and commercialization in organizations. It discusses the importance of innovation, compares it with invention, and examines how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The document also covers the 4Ps of innovation and the use of the innovation funnel. Additionally, it delves into the development of frugal innovation and its significance. Suitable for students studying innovation and commercialization in various courses.