P3 4ps of innovation and uses of innovation funnel in organisation

INNOVATION AND
COMMERCIALISATIO
N IN AN
ORGANISATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Importance of innovation in organization and comparison with invention:.....................1
P2. Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation...................................................................................................................3
TASK 2............................................................................................................................................4
P3 4ps of innovation and uses of innovation funnel in organisation:.....................................4
P4 Frugal innovation-.............................................................................................................5
TASK 3............................................................................................................................................6
P5 Importance of the commercial funnel and new development process in organisation:....6
P6 Innovation Business Case of organisation, including ways to access funding:................7
TASK 4............................................................................................................................................8
P7 Different tools in organisation can use to develop, retain and protect knowledge and
intellectual..............................................................................................................................8
property:................................................................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation and commercialisation is a process for innovating products and services
present in the market and process to research about the organization’s products and developed
into the marketplace (Dhewanto and Sohal, 2015).
In this report, Healthy juice develops a new product in the market and the ECO of the
company try to make innovation in their products and they try to change test with help of
innovation's in juice and make new test of the products. In this report also include the
comparison between innovation and invention in the organizations and how vision, leadership,
culture and teamwork can shape innovation and commercialisation. It report also include the 4ps
of innovation in products and how organizations can develop frugal innovation and new
development processes and different tools that is used to develop, retain and protect knowledge
and intellectual property.
TASK 1
P1 Importance of innovation in organization and comparison with invention:
Innovation in organizations define and examine what are the internal and external
elements include creativity and how organization manage creation process and what many ways
to innovation changes company conduct and outcome. Innovation help employees to understand
better organizations products and they examine the entire product of the company and try
innovation on them (Kivimaa and et.al., 2017). Healthy juice try to innovation in their
organizational products which help to make new test in products innovation is important part of
nay organization which help to met with new research of the products and implement them.
Invention in company help to research of the products and test the product cost and size
according to customers reactions.
The innovation's idea helps to growth of the organization and also helps to understand the
organizations products. Innovation is most important concern of each companies and employees.
in business innovating products help to make new variety products and also fulfil the customer
requirement. Innovation idea help employees to make new products present in the market and
having knowledge of market research and also identified what kind of needs and demands of the
consumers in the market (Loya and Rawani, 2016). CEO of Healthy Juice tries to develop their
new products which test is difference from other organisation products and healthy juice aim to
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make competitive advantages to existing products and they try to innovate in their juice which
test different form the existing products.
Innovation Invention
 Innovation in any products help to
make new products with changes in
existing products in organization.
 Innovation process helps to implement
new things in healthy juice. Innovation
is defined exploring new ideas and new
thing in product.
 On other hand, innovation in
organization is defined the examiner
previous products, try to developed
new things, and experiment in new
products (Lin and et.al., 2014).
 Innovation helps healthy juice to
change their juice test different forms
the existing products. Now day's
innovation is very important part of any
organizations because market are all
time change and customers demands
also changes according to the market
and customers demands also change
according to the new market.
 Innovation helps to present same
product in a new way. As the same
healthy juice try to innovation in their
juice they change their juice test and
present new variety of juice in market.
 Invention helps in organization to
create new ideas, techniques in
products.
 Invention in organization determines to
test and experiment the products and
size, cost of the products. In healthy
juice invention help to make
experiment in existing juice and their
cost according to the market.
 Healthy juice tests their juice and
examines their juice test according to
the customers’ demands.
 Market always want new test and
inventing products which cost and
changes are looking new product and
healthy juice CEO tries this method to
invention and innovation in their
products (Bhardwaj and et.al., 2015).
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P2. Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation
In innovation and commercialisation vision, leadership, teamwork, culture all the shaping
organisation process and define what want to achieve in business. Vision helps to identify goals
and value of organization and leadership are defined who to maintained all the working in
company culture are determines the working functionality of business and team work identify
how employees together make great products for the organisation (Katsigiannis and et.al., 2015).
In Healthy juice, all elements help to innovate products and develops new product in market.
Apart from this, innovation and commercialisation in an organization shapes their elements
which help to identify each products like what innovation product how can new development
proceed define in the process etc.
Vision- Vision of an organisation defines clear vision help to achieve goals of the company and
also encourage achieving goals, value and increasing the growth of the company. The healthy
juice CEO has vision to present best quality product intro the market. The company vision to
change the test of the juice which make new test for the customers and also define the
employees’ hard work.
Leadership – Leadership in organization helps to maintain all kinds of work and employees
responsibilities. Leadership manages all working conditions in a company and tries to help in
achieving goals in their filed. In healthy juice, leadership handles all working of innovation
processes in their products they examine each and every process in innovation and also give
suggestion to developed better products in organizations (Isomursu and et.al., 2016).
Culture- Culture can define the environment in organization and employees work style it also
defines who employees and work positively and make environment healthy as they talk and
behave to each other. In healthy juice all employees and work together and examine all the
activities in the market to developed new products in the market they also examine the market
research. The organizations culture help to make positive environment.
Team work- teamwork is crucial part of any organization. Team, work is help to understand
each and every process of work. In team work each member are group shared their idea to each
other and also help to solved problems of work. In healthy juice employees and work in team and
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they all individual innovate their juicy product and examine which test better and according to
customers’ needs or not (Ahmadi and O'Cass, 2016). They all innovate juice with new market
test, present in the market, and know the reaction of the customers of new juice.
TASK 2
P3 4ps of innovation and uses of innovation funnel in orgnziations:
The 4 ps of innovation define how can innovate to improve product in business. It gives
direction to what need in product to innovate and where innovation are occurred. This 4ps helps
to understand how can implement new idea's in products. The innovation mix are product, price,
place and promotion it's now relate with market mix in healthy juice 4ps help to improve all
elements on idea's like in product s, price, place and promotion. In all the area 4ps help healthy
juice where can innovation occur and how can they improve their products cost size and test.
The following 4ps of innovation define the all area of innovation in organisation-
 Product- Healthy juice CEO tries to change ion their juice they present new test of their
juice In market so they try to innovate their juice like milkshake and other fruit juice. 4Ps
of innovation helps to understand healthy juice employees first try to examine the
customers' requirement into the market and then implement the products. Employees are
examined all the market condition and they try mix juice their test I change is different
into the market also different to the competitor (Huang and et.al., 2018). They developed
mix fruit juice and experiment then after the examine they innovation on their juice make
new test in their juice product.
 Price – After the innovation in product healthy juice try to innovation in products price
it's totally depends to the target market. Employees are examined all the cost of the
market juice products and they decided the attractive price or mix juice products. Healthy
juice decided the low price of the juice because this is very levels people lower to higher
so all level people are afforded this mix fruit juice in the market.
 Place- After the fixed process of juice the main things to decide where they selling the
juice. Healthy juice decide to selling this juice in restaurants, malls, and clubs where
people are enjoy to having this fruit juice and this also good for heath.
 Promotion – Healthy juice CEO tries to promote their new innovating product in market
they adopt online promotion like company gives advertisement on television and social
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media and other promotional site where people are see to attract their juice and they also
give ads on new papers (Winand and Hoeber, 2016). Form that most of the customers are
aware this new fruit juice in the market.
Innovation funnel- This concept define product or process development projects is to take and
idea and the concept and converting to reality products and developed into the market. In healthy
juice this concept help to understand the process development in the product and also converting
to the market requirement and present into the marketplace.
P4 Frugal innovation-
Frugal innovation mainly determine the main idea was developed product and service
that according to market. It includes spacial needs and demands of the customers. Frugal
innovation mostly find the way of developed market. Frugal innovation main meaning is
“Jugaad” like if any condition organization market going to down that stage company try to
implement frugal innovation in their products they try innovate new things and idea which is
suitable to their product and also suitable to the target market (Canning and Szmigin, 2016).
Frugal innovation organisation define the immediate actions in organizations like company
having loss in business and they try to recover their organisation product they try frugal
innovation in their products.
Apart for this frugal innovation also define the organisation waste material used to
redesign them and make new products for development. Many organization uses that trick when
the customers wants old fashion products to the organizations They used old products and try to
innovation them and add elements which is mostly required for customers. The frugal innovation
also define the each and every process of the organisation which re cycle their products and
developed new process for example healthy juice make new product but they used innovation in
their same products and try to make new juice for their organisation like healthy juice CEO tries
to change test of juice (Petrović and et.al., 2015). Healthy juice make frugal innovation them
they used old trick and use the same elements in products but test is change like they add more
sweet in juice and mix more fruit in juice all variety are same in one juice that innovating, mix
juice test is different to another drink.
Apart from that the other example of frugal innovation the mid house summer try to
make innovation in their products they try to make those products which is healthy for young
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people to children and this organization also make juice and healthy food. The main aim of this
organization to developed the best quality products with customers according. They make
healthy food but their test is not good and customers also not attracted to their food organization
changes in food they add some sweet and fruit in this food. That new innovating food attract
more customers and target market easily(Marques, 2016). All those example define that frugal
innovation help to change in products and also help to make old products designed in new
products. Is help to understand of lacks are determined in products how can organizations fulfil a
present with organizations.
TASK 3
P5 Importance of the commercial funnel and new development process in organisation:
Commercial funnel- The commercial funnel is also known as sales funnel which define
the purchase process that organisation lead consumers through purchase products, in these
customers define their interest in the products and also include products research. The
commercial funnel also define that all are process include in one activity like step by step process
it defines that all organisation process target customer requirement and also identify potential
customer's needs and demands according to products.
Importance of commercial funnel- In organization it defines the every organizations
focus on the customer's requirement their demands their interest but in commercial funnel this is
the process where organizations only focus only lead consumers purchase and find their interest
and this is very important part of any organizations which define the each and every requirement
for commercial funnel in organisation (West and et.al., 2014). The main importance of
commercial funnel it only depends on customers through interest and their customers. In healthy
juice commercial funnel help to define the only focus on prospectors needs and their interest. It
helps to identify what products customers needs in their lifestyle and also define the which test of
the juice they prefer in their daily routines and their daily life. It is most important funnel in
organization which every employees are used to aware in organization.
New development process - The new development process is determined the complete
process of bringing new product to market and also define the transformation of a market
opportunities in to products available sale. The new development process of nay organisation
define the proper research of product which company try to developed in the organization. First
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the employees are generated their idea of new development process they try those ideas to make
few model of products. After they examine employees develop products then employees try to
test what are the mistakes and benefits of that after that employees make strategy to developed
products in the market and also take strategic decisions on that. After that they analyse and
compare all market products to existing products if they suitable for the development so
organization can present into the market and if not suitable and make changes in this they
redesigned after that they present into the marketplace (West and Bogers, 2014). After the
product presented in the market then employees testing the marketing of that products and how
many customers can like those products in the market.
P6 Innovation Business Case of organisation, including ways to access funding:
Innovation in business increasing organization working capabilities and also improve
productivity in business. Innovation in organization implement more new idea's, new products
and new proclivity of organisation. In innovation in business help to identified organizational
product's weakness and what requirement in products according to customers demands. In
business many elements and function which affects the functionality of business its identified the
all innovation in products and changes in functionality (Taneja and et.al., 2016). Innovation is
crucial part of any organization. Which help to understand the needs of customers and
organization fulfil them in healthy juice CEO defines their organizations try to make innovation
in their products and the motive of the healthy juice they try to carnages in their juice for that
customers have new test of juice and incensed sale in next 12 month.
The healthy juice presents new test in their products the healthy juice employees add
more sweet in their juice and also add some more fruits in juice that mixture make new test in
their product. That innovation helps to define new life of products an including way to present
their products. All those healthy juice product innovation access funding from the investors. The
organization deal with investor to make new products and distribute the profit. All organization
make innovation with expensive resources and take help form the investor to find the way of
funding. The healthy juice also make innovation and they deal with investor to help to innovation
in products which make more profit and earn most.
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TASK 4
P7 Different tools in organisation can use to develop, retain and protect knowledge and
intellectual
property:
Organizational have different tools which identified the image and products identity like
trademarks, patents, copyrights etc. all those tools are protected the products and brand image
from the competitors it also defines the name of organizations and symbol that identified which
company products is that. Those tools are-
 Trade mark- Those are identified by names, words, devices, symbols and image which
is on the products. All those trademarks identified organizational products. For example-
company have trademarked and that was in products and person remember the name of
organizations which easily identify that products (Al-Mubaraki and et.al., 2015). Like
nicks and Adidas that names are in their products.
 Copyright- Copy right are those organisations which define that one organization copy
another organisation trademark but they selling their products to cop of the organisation.
For example first copy of Adidas, second copy of the nick etc.
 Patents- Patents define that utility, design, plant that protect invention and improvements
to existing inventions. This help to define which products quality is higher and which is
lower and which is copy rights and its denoted by the design of company.
 Trade secret- This define confidential business information which provide a business a
competitive edge may be considered trade secret. Trade secret are organizational
manufacturing or industrial secrets and commercial secret
CONCLUSION
In this above report concluded the innovation and commercialisation in business define
the way to implement new things in business and make new idea and new techniques in products
(Rahman and et.al., 2015).In this above report also concluded the healthy juice CEO present the
innovation in their juicy products and they change the test of their juice which requirement to
examine all the market juice and their test and make different juice to existing market. It report
also conclude the comparison between innovation and invention and how organization can shape
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vision, culture, leadership and teamwork in organisation and 4ps of innovation and frugal
innovation and importance of commercial funnel In organization and NDP process in
organizational and business case study and asses the way of funding organization in business and
different tools which help to retain and protect the knowledge of the organization.
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Marques, J.P., 2016. Innovation Management in Modern Organizations: An Evolutionary
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