Innovation and Commercialisation

This document discusses the importance of innovation in comparison with invention and how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. It also analyzes different sources of innovation and explores the 4Ps of innovation and the innovation funnel. The case study focuses on DELUSHIOUS, a food and beverage organization in the UK.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
TASK 1............................................................................................................................................3
P1. Innovation & determination of its importance in comparison with invention.......................3
P2 organizational vision, leadership, culture & teamwork can shape innovation &
commercialization........................................................................................................................6
M1. Analyse different sources of innovation ..............................................................................7
TASK 2............................................................................................................................................8
P3 / M2 4Ps of innovation & innovation funnel to examine and shape innovative ideas.........8
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organizational context................................................................................................................10
M3. Appraise the role of frugal innovation in an organisational context .................................11
PART B..........................................................................................................................................11
TASK 3..........................................................................................................................................11
P5 Explain the importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation......................................11
P6 & M4 Business case for DELUSHIOUS including ways to access funds ..........................13
TASK 4..........................................................................................................................................16
P7 & M5 Various tool to retain intellectual property for longer period....................................16
CONCLUSION..............................................................................................................................16
REFERENCES .............................................................................................................................18

INTRODUCTION
In the current time businesses are highly focused over inhaling innovation so that they
can be aligned with market needs and customers preferences as well. Businesses of modern age
are highly emphasised over using such innovations through which they can considerate their
business plan and acquire higher market prominence (Varadarajan, 2018). Innovation is the
process which undertake new product and processes so that better value can be given to
customers and at the same time higher attention of customer can be received as this may give
distinct edge in the competitive market. Innovation is associated with distribution of goods by
using such prominent marketing channels through which overall sales of the business can be
enhanced. In this manner organisations are taking innovation in primal manner so that to gain
long term stability over the market and to obtain with some identifiable market position as well.
This report is providing various insights related to innovations and sue or significance of
innovation within business. The report is based on a food and beverage organisation named
DELUSHIOUS which is situated in UK and providing delicious cakes and chia seeds fruit jam.
The venture is providing healthy sweet treats due to which they have appropriate market share.
In their initial three years the company had proper market and customer due to their innovative
offerings but after that their sales started to decline as so many competitors entered into the
market. This report is providing various ways by which DELUSHIOUS can enhance their market
share by rendering innovations in products.
PART A
TASK 1
P1. Innovation & determination of its importance in comparison with invention
Innovation and invention are two different concepts which can be used by businesses in
order to attain their objectives in most appropriate manner and time frame. Invention is defined
as the process of development in products by using such ideas which are new and creative so that
better products or services can be provided to customers. Invention is the process which starts
from developing some new feature in the product so that customers can be served in more
significant manner (Chen and et. al., 2018). For instance DELUSHIOUS, in terms of invention
the organisation is trying to introduce some new range of oats biscuits, cookies and health and in
order to supply the same during period of lockdown and to meet health awareness of people.

This could be helpful for DELUSHIOUS in meeting needs of their customers and to make profits
by supplying their products in crucial time.
Innovation is the process in which new and emerging features can be added to the
product which may enhance its usability for customers. This way innovation is the concept
which is used by businesses in order to insert some new aspect to their existing products by
which more customers can be attracted towards products and services in prominent manner.
Innovation in introduced by up-keeping market needs and demands so that in the same manner
higher value can be given to customers. Innovation is focused over adding a raw idea into
product or services so that needs and demands of customers can be served with the same and
perception of customers can be positively changed as well (Temple and et. al., 2016). By
including innovation in business process market differentiation can be attained by the venture in
their products so that customer can be grabbed and competitive edge can also be obtained. There
are different activities and considerations which helps the execution of innovation so that high
quality within product or services can be given to customers and their loyalty can be earned. As
with the help of innovation higher market can be captured by the business which leads them to
have more power in respect of competitors (Cusumano, Gawer and Yoffie, 2019). The
organisations which are using innovation specific processes they have ability to improve their
product and services so that the same can be utilised in modifying the product and providing
amended offerings to customers. Innovation process includes having consideration regarding
new products so that in more effective manner products and services can be offered to customers.
In the context of DELUSHIOUS using innovation in their offering ma lead the venture to earn
sustainable growth opportunity so that system oriented processes can be followed by them and
problem of minimised sales can be solved as well. For DELUSHIOUS innovation is highly
important as the organisation is facing issue of declined sales so using innovation as their way to
enhance sales could be a better and sustainable option for them.
 Intensified brand image: With the help of using innovation within organisation this
may intensify overall brand image in the market as by adding innovation in organisational
offerings more customers will be attracted and this leads the venture to enjoy high brand
image within marketplace. In the context of DELUSHIOUS the venture is now focused over
preparing cookies, biscuits and cakes made up of oats along with providing home delivery

and in this manner DELUSHIOUS can enhance their market brand image and acquire higher
customers as well.
 Profit Maximisation: Innovation is highly helpful in making more profits as innovation
adds some more features in the offerings which lead the venture to earn high profits and deal
with their rivals as well. In the context of DELUSHIOUS the organisation are having so
many competitors as they have competition with bakeries, cookie shop, healthy food
provider and many more. In the lieu of rendering innovation in the business DELUSHIOUS
can enhance their profitability by acquiring attention of large population.
Basis Innovation Invention
Skills and competencies For every employee associated
with innovation needs to have
high skills so that strategically
plans can be executed and
innovation can be provided
within offerings in appropriate
manner (Acharya and Xu,
2017).
This is essential for employees
to have such skills so that
invention can be supported
and new advancement can be
rendered.
Purpose The major purpose of
innovation is to modify
business offerings by adding
some new features so that
higher attention of customers
can be enhanced and higher
value can be given to them.
The primal purpose of
invention is to emerge new
concepts within offerings so
that life of people can be made
easier. For example internet in
current time is an invention
and online delivery is also an
invention which is providing
ease to live to the customers.
Occurrence On the basis of needs and
demands, occurrence of
innovation is dependent. That
means in the relation of
market needs and demands
Invention is dependent over
emergence of new idea which
is unique in nature and may
help people to make their life
easy and comfortable (Dost

products and services are
required to be innovated by
the business.
and et. al., 2016).
Limitation Innovation is emphasised over
associating such department
which helps the products to
get modified and enhance in
its usage (Howaldt, Domanski
and Kaletka, 2016).
For invention with the help of
research and development
initiation of invention is
executed and this is a long
range process which is one of
the major limitations of
invention.
P2 organizational vision, leadership, culture & teamwork can shape innovation &
commercialization.
For shaping innovation vision, culture, leadership and teamwork are playing vital role as by
these aspects operational efficiency can be attained within process of innovation and in this
manner issues of the business can be solved. In the context of DELUSHIOUS the venture is
considering significant processes within innovation so that to meet their objectives and to regain
their lost share within market and sales. In process of innovation, vision, cultural effects,
leadership are having their specific role and description of the same is given as below:
 Organizational Vision: Organisational vision is defined as long term motive of the
venture and for what all these activities are being executed. For DELUSHIOUS the
venture is associated with providing cookies, cakes and biscuits to their customer which
is made up of natural sweetening agent (Barbosa and Romero, 2016). In this manner the
organisation is having vision to enhance their market share and brand image so that
higher popularity can be earned. Vision helps the process of innovation to lead a path of
smoothness flow by which differentiated benefits can be attained by DELUSHIOUS.
 Organizational Leadership: Effective style of leadership is helpful in gaining higher
success in the business due to which innovative ways can be found in order to deal with
market conditions. Leaders are responsible to initiate and end various processes used with

business so with the help of prominent leadership this will be easier to place such
innovations in most significant manner. For DELUSHIOUS using leadership style every
employee can be guided regarding their roles and responsibilities and this would lead in
developing effectively shape innovation within venture.
 Organizational Culture: Culture is defined as such internal working within business
that is assisting proper flow of information and to inculcate several benefits as well.
Culture is made up of beliefs, value, attitude and norms which are being followed within
business and helps the venture to proceed with workings. In the context of DELUSHIOUS
using appropriate organisational culture could be helpful in shaping innovation so that long
term benefits can be attained. As DELUSHIOUS is focused over preparing new range of
cookies made up of oats and natural sweetening.
 Teamwork: Teamwork is defined as collaborative efforts which are taken as asset of the
organisation. In order to shape innovation, teamwork play effective role and the same
could be helpful in generating new ideas that can be helpful to take forward the process of
innovation. In the context of DELUSHIOUS teamwork may inhale some new ideas within
the business that are helpful for the process of innovation and dealing with such issues
faced by the venture.
M1. Analyse different sources of innovation
Innovation is regarded as the process in which different improvements are inhaled by the
businesses in respect of various changes that could have positive impact in profitability and
customer satisfaction as well. There are various sources of innovation such as: The unexpected: Innovation may take place in every business organisation in different
unmanaged situations. Under this an individual come forward with an idea which are
unexpected in nature. This is the dynamic factor within DELUSHIOUS and helps them to
continue innovate their business offerings and to deal with emerging needs of their
customers (Wang, 2017). This is one of the prominent aspect of innovation which may
lead DELUSHIOUS to higher success and growth opportunities. Market structure: This is regarded as the external source in which by analysing market
and market needs innovation can be executed by the business. For this DELUSHIOUS is

collecting differential information in such a manner that various dimensions can be
exerted in most influential manner.
 Necessity: This is a proven fact that necessity is the mother of invention so in order to
get ideas for innovation need is the aspect which is required. In this for
DELUSHIOUS analysing market need is the primal thing and after examining need
of healthy food habits DELUSHIOUS has come up with new product idea.
TASK 2
P3 / M2 4Ps of innovation & innovation funnel to examine and shape innovative ideas.
Innovation is one of the mandatory step in current time as in order to compete with rivals
significant steps are required to be put and innovation can do magic in this aspect (Akgun and et.
al., 2017). For DELUSHIOUS using innovation as their approach to lead the market may have
higher advantage to the company and their customers as well. There are 4 major P’s associated
with innovation and in context of DELUSHIOUS these are elaborated as under:
 Product: This is referred as the aspect which is being offered by the organisation to
their customers so that to meet their needs and demands. In the context of
DELUSHIOUS the company is providing healthy cookies as their new innovation so
that to emphasis over providing natural products to their customers.
 Process: This is defined as the component which is focused over the process adopted
in manufacturing of goods and products. For DELUSHIOUS as the company is
providing cookies made up of oats as their innovation and for this the company is
opting for eco-friendly practices as well.
 Paradigm: This dimension is associated with gaining of emerging and unique ideas
so that overall capabilities of the business can be enhanced. In the context of
DELUSHIOUS the manager is involving employees in decision making process so
that to inhale innovative ideas and to gain profit as well.
 Position: This aspect is associated with offering such type of products and services
so that to gain appropriate market position. In the context of DELUSHIOUS as the
company is trying to bring innovation in their products and to enhance overall
profitability as well.

Innovation Funnel
Innovation funnel is associated with developing such tools and processes for the business
which are being added in the venture. The major role of innovation is to find out those areas of
the products in which needs of customers are not met and in the same way requirement of
modifications are seen. Innovation funnel is the process which is used to develop innovation and
in the context of DELUSHIOUS this funnel is elaborated as under:
Illustration 1: Innovation Funnel
(Source: Innovation Funnel, 2019)

 Assessment of Opportunity: This is regarded as the primal stage in which
DELUSHIOUS will go for a market research so that to examine all the relevant
information regarding their product in the market. Using several questionnaires it can
be done so that market opportunities can be analysed by DELUSHIOUS.
 Ideation Process: Under this stage different ideas are being taken so that to inhale
such opportunities those are available in the market. This could be helpful for
DELUSHIOUS to maximise their reach to their customers and stay within market
competition (Yun, Kim and Yan, 2020).
 Conceptualisation: Under this stage, various concepts are merged together using
different advertising so that effectiveness can be rendered. This process is inculcated
with overall involvement of the product and marketer so that particular awareness can
be provided.
 Benchmarking: Under this stage DELUSHIOUS is going to analyse various ideas
and concepts with the respect of their business objectives so that they can accordingly
introduce improvements in their products. This will provide direct impact to
performance and profitability to the organisation and actual position of the venture
can be analysed as well.
 Go or No go and launching: This is the step in which decision regarding launching
their product into the market. DELUSHIOUS is trying to get distinct market position
so that benefits to customer can be provided.
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organizational context.
Frugal innovation is defined as such type of improvements within business those are
associated with technological advancement and such innovations by which implementation of
these services can be easier and could be affordable for every person. External factors are
associated with political, legal, economic aspects and in this frugal innovation play the role of
catalyst. The major objective of frugal innovation is to provide such affordable innovations to
people so that customers may feel free to differentiate their problems and businesses may
enhance their customer base as well.

In the context of DELUSHIOUS in order to earn commendable profits this is imperative
to provide their offerings to their customers in economic prices so that maximum number of
customers can be attracted and the company can serve large customer base as well.
M3. Appraise the role of frugal innovation in an organisational context
Frugal innovation is defined as the concept in which businesses are required to respond
towards different limitations existed within business whether these are linked with financial or
material aspect. In the context of DELUSHIOUS this is the constraint in which innovative and
practical ideas can be implemented in most appropriate manner. With the help of frugal
innovation in lower cost more value can be delivered and practical solution can be provided to
customers as well (Vanhaverbeke, 2017). For DELUSHIOUS using frugal innovation is helpful
for the company to turn their innovation in most appropriate manner in order to lead the market
in significant manner.
PART B
TASK 3
P5 Explain the importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation
The commercial funnel is defined as the aspect in which purchasing capacity is being
examined so that path of innovation can be set out. For DELUSHIOUS this is the condition in
which they are analysing market condition so that high number of customers can be attracted in
which various strategy can be made (Pustovrh, Rangus and Drnovšek, 2020). The commercial
funnel is associated with such stages such as awareness, opinion, consideration so that
preferences of different customers can be analysed. There are higher implications over decision
making over customers so that positive results can be drawn.
Importance of commercial funnel to DELUSHIOUS
The commercial funnel is regarded as one of the most prominent tool that can be used
within business model so that effective decisions can be taken. These are the steps which are
helpful in admiring such decisions made by purchaser so that demands of customers can be met
and issues related to their needs and demands can also be met. Commercial funnel is a marketing
tool which helps DELUSHIOUS to analyse such areas so that appropriate actions can be taken to

provide ease to customer and to capture them as well. So with the help of commercial funnel
DELUSHIOUS can make strategic plan and gain effective sales ratio as well.
The New product development (NPD), for DELUSHIOUS this process is very essential for
the organisation to deal with new market scenarios and such stages so that different problems can
be sorted out. This is helpful for the organisation to enhance level of expectations in which
business offerings can be aligned in with their needs in most significant manner. Under this
DELUSHIOUS is trying to inculcate with some new product so that to meet issues of their
customers and meeting out their needs. As in current time customer preferences are inclined
towards using healthy habits and eatable products so in order to lead the market DELUSHIOUS
has come up with oats biscuits as their innovation (Alves and et. al., 2017). This step could be
beneficial for DELUSHIOUS for intensifying their brand image and enhance customer capture
as well. In the context of DELUSHIOUS this process is elaborated as under:
Idea Generation: This is the primal stage of NPD in which new ideas are being collected which
is helpful for DELUSHIOUS. This is the step under which high research and development
processes are needed. There are various external sources such as suppliers, competitors and other
stakeholders those are helpful for DELUSHIOUS in the process of idea generation.
Screening: Under this process different ideas are being scanned and filtered so that according to
need or suitability the most efficient idea can be selected by DELUSHIOUS and on that only
focus can be rendered.
Development of Concept: Under this aspect idea is taken to the next step so that additional edge
of the market can be received. Under this stage, feedbacks and responses are received so that
feasibility and effectiveness can be examined.
Marketing Strategy: In DELUSHIOUS under this process effective marketing strategy is
required to be made so that higher customers can be attracted. Using marketing mix
DELUSHIOUS may place different dimensions of their marketing strategy in most appropriate
manner. In this manner promotional tool like such as social media platform in which customer
coverage can also be enhanced.
Business Analysis: After developing marketing strategy for DELUSHIOUS the organisation is
required to analyse range of products so that higher benefits can be rendered to the customers.
Under this aspect price, sales and profit are being decided so that business objectives can be
attained.

Development: Under this stage of NPD, DELUSHIOUS will start introducing oats biscuits in the
market and along with this health benefits from the same are also highlighted so that issues of
people can be solved. Under this feasibility test of performance will also be followed by using
various internal testing methods.
Test Marketing: This is the stage under which test marketing will be performed by
DELUSHIOUS and different feedbacks will be gathered so that any coming error in between can
be mitigated effectively.
Commercialisation: This is regarded as the final stage under which DELUSHIOUS will
commercialise their product to their potential customers (Dreyer and et. al, 2017).
P6 & M4 Business case for DELUSHIOUS including ways to access funds
Business case: The business case is related with providing such structure in which
detailed documentation is being described and so that for the same reason project can be initiated
as well. This is the process which is related with different functions and activities so that in that
manner proper judgment can be taken by the organisation (Löhr, 2016). In the context of
DELUSHIOUS their management is providing such business case so that to implement their
product innovation in most commendable manner. As the company is facing issues of lost sales
and in order to remain in the market DELUSHIOUS is coming up with their new range of
cookies with healthy feature in it.
Executive summary: Business case is made in order to get appropriate understanding
regarding organisational policies so that DELUSHIOUS is highly focused over gaining edge. In
this manner DELUSHIOUS is planning to introduce oats cookies which are made up of natural
sweetening agent that is honey. These are healthy and helpful for health conscious people to get
appropriate intake. Besides this there are various challenges which are being faced and in order
to overcome with the same the business case is helpful for DELUSHIOUS.
Background of DELUSHIOUS: DELUSHIOUS is one of the prominent food and
beverage in UK. After three years of its initiation the company had enough sales and market
prominence as they were having innovative products but after 3 years their sales started to
decline. In this manner in order to attain prominent position in the market DELUSHIOUS is
preparing a business case which is elaborated as under:

Vision: The vision of DELUSHIOUS is to gain such market position so that they can be
market leaders with their innovative cookies which are made up of oats and honey as sweetening
agent.
Mission: The mission of DELUSHIOUS is to acquire the customers those are health
conscious and may have some health issues.
Satisfaction of need from innovation: DELUSHIOUS is associated with preparing of
sweet treats of people in which they are manufacturing different types of cakes, cookies and
jams. Their distinct ranges of products are helpful in meeting various needs of customers and
help the company to acquire prominent market image as well.
Opportunity in market: The market of food and beverage is one of the most significant
markets in current time as the market is helping the customers to meet their food cravings by
providing various options. For DELUSHIOUS their innovation in product may lead them to
sustain in the market for longer duration of time and capture higher market share as well.
Competitive edge: This is essential for an organisation to invest in such research
processes so that in lower cost market analysis can be performed and ultimate objective of
gaining competitive edge (Stock, von Hippel and Gillert, 2016). For DELUSHIOUS the major
objective is to acquire higher market share and meet sweet craving of their customers so that
their customer become brand loyal. By using innovation in their offerings DELUSHIOUS can
acquire higher competitive edge within marketplace.
Size and growth possibilities: In this aspect management of DELUSHIOUS is using
several options so that to enhance overall market position and to gain market growth as well.
Using innovation DELUSHIOUS can gain attention of their customers. The venture is
emphasised over preparing oats cookies which are made up of honey as sweetening agent.
Target market: Target market for DELUSHIOUS are the people those are health
conscious and are willing to take healthy diet. Besides this the company is focused over such
customer those prone for sweet food but due to their healthy habits they resist themselves. With
the help of this innovation DELUSHIOUS can grab attention of these customers and meet their
needs and demands.
Strategy: The pricing strategy used by DELUSHIOUS in order to place their products in
the market is price penetration so that to satisfy needs of their customer in most effective
manner.

Promotional strategy: Social media and traditional marketing both will be used by
DELUSHIOUS in order to spread awareness and get higher sales and market prominence as
well.
New product development
Ideal generation: Within this stage DELUSHIOUS is trying to recognise those customers who
are prone towards eating sweet food. Examining these needs will help DELUSHIOUS to prepare
their new cookies in most prominent manner.
Idea evaluation: The new idea of preparing oats cookies with natural sweetening agent honey is
taken by performing market research in effective manner (Esposito and et. al., 2017).
Concept definition: Under this stage such aspect are to be analysed by DELUSHIOUS which
may create barriers in customer purchase decision making.
Strategic analysis: Under this stage cost and decisions related to resources are being taken
which are recognised by DELUSHIOUS.
Product development and testing: Under this stage a free demo session will be organised
within stores of DELUSHIOUS so that all the queries regarding these products can be solved.
Market testing: Under this stage appropriate feedbacks are being collected so that market
perception can be undertaken.
Funding: This is one of the crucial step which is being taken by DELUSHIOUS in order
to execute their innovation in appropriate manner. With the help of gathering requisite amount of
funds DELUSHIOUS can get best benefits for their business. This is a prominent step that would
help DELUSHIOUS to set their limits of funds and minimise their liabilities. DELUSHIOUS is
taking bank loan and using surplus profits in order to execute their innovation in appropriate
manner.
Market development
By taking assistance of commercial funnel, market development strategy is being used by
DELUSHIOUS and in this manner only products are tested and examined. This is the tool which
is helpful for DELUSHIOUS to identify such behaviour of their customer in respect of making
purchase and target their customer in most defined manner.

TASK 4
P7 & M5 Various tool to retain intellectual property for longer period
Intellectual property is defined as such intangible creation of the human by which
protection can be given to some innovative product or services generated by them. These are
associated with such rights, ideas and tactics which can be used by the business for the main
purpose of acquiring market share and distinct advantage can be attained. For the major purpose
of staying ahead with rivals DELUSHIOUS is required to use their intellectual property right in
specific manner so that they can prevent their product from copying in the market and gain
distinct edge in the market as well. In this manner these tools are elaborated as under:
Patents: These are regarded as one of the most significant tool in which rights are being
passed by the owner so that rivals cannot copy their products. Within every pre-decided interval
patents are required to be renewed. The major benefit of paten is that it restricts their rivals to
copy ideas and processes (Kurt, Ucler and Vayvay, 2017. On the contrary patents are containing
higher cost so for businesses these may create an additional way of expenses. This may minimise
profitability of the business so that could be risky as well.
Trademarks: These are defined as such signs and symbols which helps the brand to get
identified within market in comparison of their rivals. Advantage of trademark is that these are
providing higher brand image to the product so that the same could lead them to get customer
loyalty. On the other hand licensing fees is required for obtaining trademarks and sometimes
obtaining the same may take higher time, resources and money which is not profitable for the
business and emerge as a burden for the business.
For DELUSHIOUS patent could be the most appropriate intellectual property right as this
will help them to prevent their new cookies from getting copied. This will be helpful for
DELUSHIOUS in dealing with their rivals so that prominent market position can also be
attained.
CONCLUSION
From the above report this can be analysed that innovation and commercialisation is that
effective angle of the business which is helpful in rendering fuller edge to the business and to get
such opportunities within business that are helpful for gaining long term market succession. For
every business this is essential to recognise value of innovation and involve the same in business

processes so that market rivalries can be treated in most effective manner. NPD is helping in
order to provide succession over new product in the market. With the help of intellectual
property rights protection over product or service can be obtained so that effective edge can be
attained in respect of rivals.

REFERENCES
Books and journals
Acharya, V. and Xu, Z., 2017. Financial dependence and innovation: The case of public versus
private firms. Journal of Financial Economics, 124(2), pp.223-243.
Akgun and et. al., 2017. Why companies go positive marketing innovations: a new theoretical
prototype for 4ps of innovation. Journal of Business Economics and Finance, 6(2),
pp.70-77.
Alves and et. al., 2017. Innovation and dynamic capabilities of the firm: Defining an assessment
model. Revista de Administração de Empresas, 57(3), pp.232-244.
Bali and et. al., 2016, December. Demystifying the 4Ps in Singapore SMEs: does the government
hold the key to open innovation?. In 3rd Annual World Open Innovation Conference.
Barbosa, F. and Romero, F., 2016, January. The Links Between Innovation, Strategy and
Internationalization Processes: A Comprehensive Literature Review. Academic
Conferences and Publishing International Limited.
Chen and et. al., 2018. Fit between organizational culture and innovation strategy: Implications
for innovation performance. Sustainability, 10(10), p.3378.
Cusumano, M.A., Gawer, A. and Yoffie, D.B., 2019. The business of platforms: Strategy in the
age of digital competition, innovation, and power. New York: Harper Business.
Dost and et. al., 2016. The impact of intellectual capital on innovation generation and
adoption. Journal of Intellectual Capital.
Dreyer and et. al, 2017. Responsible innovation: A complementary view from industry with
proposals for bridging different perspectives. Sustainability, 9(10), p.1719.
Esposito and et. al., 2017. Open collaborative innovation and digital platforms. Production
Planning & Control, 28(16), pp.1344-1353.
Howaldt, J., Domanski, D. and Kaletka, C., 2016. Social Innovation: towards a new innovation
paradigm. RAM. Revista de Administração Mackenzie, 17, pp.20-44.
Kurt, O.E., Ucler, C. and Vayvay, O., 2017. From ideation towards innovation: pillars of front-
end in new product development. PressAcademia Procedia, 5(1), pp.71-79.
Löhr, K., 2016. The science of innovation: a comprehensive approach for innovation
management. Walter de Gruyter GmbH & Co KG.
Pustovrh, A., Rangus, K. and Drnovšek, M., 2020. The role of open innovation in developing an
entrepreneurial support ecosystem. Technological Forecasting and Social Change, 152,
p.119892.
Stock, R.M., von Hippel, E. and Gillert, N.L., 2016. Impacts of personality traits on consumer
innovation success. Research Policy, 45(4), pp.757-769.
Temple and et. al., 2016. Methods for assessing the impact of research on innovation and
development in the agriculture and food sectors. African Journal of Science,
Technology, Innovation and Development, 8(5), pp.399-410.
Vanhaverbeke, W., 2017. Broadening the concept of open innovation. In The Elgar Companion
to Innovation and Knowledge Creation. Edward Elgar Publishing.
Varadarajan, R., 2018. Innovation, innovation strategy, and strategic innovation. In Innovation
and Strategy. Emerald Publishing Limited.
Wang, J., 2017. Structuring innovation funnels for R & D projects under uncertainty. R&D
Management, 47(1), pp.127-140.

Yun, J.J., Kim, D. and Yan, M.R., 2020. Open innovation engineering—Preliminary study on
new entrance of technology to market.