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

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Added on  2021-01-01

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

   Added on 2021-01-01

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INNOVATION ANDCOMMERCIALISATION IN ANORGANISATION
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of innovation in organization and comparison with invention:.....................1P2. Organisational vision, leadership, culture and teamwork can shape innovation andcommercialisation...................................................................................................................3TASK 2............................................................................................................................................4P3 4ps of innovation and uses of innovation funnel in organisation:.....................................4P4 Frugal innovation-.............................................................................................................5TASK 3............................................................................................................................................6P5 Importance of the commercial funnel and new development process in organisation:....6P6 Innovation Business Case of organisation, including ways to access funding:................7TASK 4............................................................................................................................................8P7 Different tools in organisation can use to develop, retain and protect knowledge andintellectual..............................................................................................................................8property:................................................................................................................................8CONCLUSION ...............................................................................................................................8REFERENCES..............................................................................................................................10
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INTRODUCTIONInnovation and commercialisation is a process for innovating products and servicespresent in the market and process to research about the organization’s products and developedinto the marketplace (Dhewanto and Sohal, 2015). In this report, Healthy juice develops a new product in the market and the ECO of thecompany try to make innovation in their products and they try to change test with help ofinnovation's in juice and make new test of the products. In this report also include thecomparison between innovation and invention in the organizations and how vision, leadership,culture and teamwork can shape innovation and commercialisation. It report also include the 4psof innovation in products and how organizations can develop frugal innovation and newdevelopment processes and different tools that is used to develop, retain and protect knowledgeand intellectual property.TASK 1P1 Importance of innovation in organization and comparison with invention:Innovation in organizations define and examine what are the internal and externalelements include creativity and how organization manage creation process and what many waysto innovation changes company conduct and outcome. Innovation help employees to understandbetter organizations products and they examine the entire product of the company and tryinnovation on them (Kivimaa and et.al., 2017). Healthy juice try to innovation in theirorganizational products which help to make new test in products innovation is important part ofnay 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 sizeaccording to customers reactions.The innovation's idea helps to growth of the organization and also helps to understand theorganizations 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 customerrequirement. Innovation idea help employees to make new products present in the market andhaving knowledge of market research and also identified what kind of needs and demands of theconsumers in the market (Loya and Rawani, 2016). CEO of Healthy Juice tries to develop theirnew products which test is difference from other organisation products and healthy juice aim to1
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make competitive advantages to existing products and they try to innovate in their juice whichtest different form the existing products. InnovationInvention Innovation in any products help tomake new products with changes inexisting products in organization.Innovation process helps to implementnew things in healthy juice. Innovationis defined exploring new ideas and newthing in product. On other hand, innovation inorganization is defined the examinerprevious products, try to developednew things, and experiment in newproducts (Lin and et.al., 2014). Innovation helps healthy juice tochange their juice test different formsthe existing products. Now day'sinnovation is very important part of anyorganizations because market are alltime change and customers demandsalso changes according to the marketand customers demands also changeaccording to the new market. Innovation helps to present sameproduct in a new way. As the samehealthy juice try to innovation in theirjuice they change their juice test andpresent new variety of juice in market.Invention helps in organization tocreate new ideas, techniques inproducts.Invention in organization determines totest and experiment the products andsize, cost of the products. In healthyjuice invention help to makeexperiment in existing juice and theircost according to the market. Healthy juice tests their juice andexamines their juice test according tothe customers’ demands. Market always want new test andinventing products which cost andchanges are looking new product andhealthy juice CEO tries this method toinvention and innovation in theirproducts (Bhardwaj and et.al., 2015).2
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