Innovation and Commercialisation in Organisation: A Comprehensive Guide

This comprehensive guide explores the multifaceted aspects of innovation and commercialisation within organisations. It delves into the context of innovation, differentiating between invention and innovation, and highlighting its significance for organisational growth. The guide examines various sources of innovation, explores different types of innovation, and analyzes the 4Ps of innovation and the innovation funnel. It also delves into frugal innovation, its role in organisational contexts, and the process of commercialising innovation. The guide further discusses the importance of the commercial funnel and new product development (NPD) processing, and provides a detailed innovation business case, including methods for accessing funding. Finally, it evaluates methods for protecting ideas and intellectual property, critically analyzing the nature of innovation and the challenges organisations face in developing successful innovations.

INNOVATION AND COMMERCIALISATION IN ORGANISATION

Contents
Introduction......................................................................................................................................2
L01. Explain the context for innovation and determine the difference between invention and
innovation........................................................................................................................................3
Pl. Explain innovation and determine its importance to organisations in comparison with
invention..........................................................................................................................................3
P2. Explain how your organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation...................................................................................................4
Ml. Analyse different sources of innovation and how organisation can foster and develop an
environment and culture of innovation............................................................................................5
L02. Explain different types of innovation......................................................................................6
P3. Explain the 4ps of innovation and explain use of innovation funnel to examine and shape
innovative ideas...............................................................................................................................6
M2. Analyse and apply the innovation Funnel in an organisational context...................................8
P4. Explain development in frugal Innovation and provide examples of how it is used in an
organisational context......................................................................................................................9
M3.Evaluate the role of frugal Innovation in an organisational context.......................................10
Dl. Critically analyse how innovation is developed, embedded and measured in an organisational
context............................................................................................................................................11
L03. Discuss the process required to commercialize innovation..................................................12
P5. Explain the importance of the commercial funnel and the application of new product
development (NPD) processing for commercialization of innovation..........................................12
M4. Build a detailed Innovation Business Case for the chosen organisation which includes how
to measure its overall effectiveness using appropriate techniques available to test, iterate and
improve..........................................................................................................................................13
P6. Build an Innovation Business Case in an organisation, including ways to access funding....14

L04. Evaluate the range of methods for protecting ideas and understand their advantages and
disadvantages.................................................................................................................................17
P7. Evaluate the different tools that the organisation can use to develop, retain and protect
knowledge and intellectual property..............................................................................................17
M5. Present supported evidence- based evaluation of these different tools in the context of the
wider business environment..........................................................................................................18
D2. Critically evaluate the nature of innovation and the context in which it is developed,
providing evidence-based judgement on how the organisation can overcome challenges to
develop successful innovations......................................................................................................19
Conclusion.....................................................................................................................................20
References:....................................................................................................................................21

Introduction
New ideas as well as commercialization serves as important aspect of the business functionality
and future growth prospect. The contextual discussion encompasses various dominations of
innovation and commercialization in business perspective and would be implemented for
ensuring impact on business growth. Wiser has been taken as the subject organisation which is
one of the leading SME organisation in UK. The Wiser is the UK’s only in-house creative and
recruitment solutions. In order to attract great people Wiser build employer brands and also
guide them to their dream career. Wiser is a home for young people who have big dreams and
who expect more. The recruiting team of Wiser recruit the right people for the job to make their
company stand apart from the rest. Many of the UK’s most recognized brand trust Wiser for
building their graduate schemes. The brightest tech talent is matched by Wiser Digital to digital
led businesses across the UK and Europe. In the given study the differences between innovation
and inventions is analysed and how it is important to organisation. Apart from this the different
types of innovations are also discussed. Moreover the 4ps of innovation, Innovation funnel,
frugal Innovation, a commerce channel also approach in developing new product resulting to
commercialisation in new ideas is discussed.

L01. Explain the context for innovation and determine the difference between invention
and innovation.
Pl. Explain innovation and determine its importance to organisations in comparison with
invention.
Origination means the installating brand new goods and device whereas innovation refers to the
changes that are brought in an existing product or device by implementing new ideas. The
difference between invention and innovation is that invention deal with fresh ideas whereas
innovation is all about implementing practically that new idea. Scientific skill is required in
invention and for innovations strategic, marketing, technical skills are required. Invention
focuses on single product while innovation focuses on various products. Example of invention is
the computer and example of innovation is the internet and Email in computer (Dhewanto et al.
2015).
An organisation will only be able to survive and sustain in this competitive market if it adopt the
change through innovation in the business environment. Innovation brings about the
development of business management processes. Innovation inspires the people to create or
innovate new products and services. Innovation also makes the business attractive to
shareholders and mergers and in turn increases business value. The Wiser Company also make
use of creative ideas and to attract amazing peoples it build employer brand also. Innovation
enables the Wiser Company to gain more efficiency and productivity and in turn increases
profitability. Very often the result of Innovation is the invention. Invention is also helpful to a
business but the level of necessity and importance vary according to the organisation. It is
because of innovation especially in technology field that invention has become relevant hence
both innovation and invention have symbiotic relationship (Chun et al. 2015).

P2. Explain how your organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation.
Picture. A process involve in launching innovative goods in the market which is easily accessible
by a customer in commerce is called commercialization. An organisational vision is the desired
future position of the company. Vision is long term plan formulated by the company to achieve
desired objectives.
Leadership: Without an efficient leadership Innovation cannot succeed. The tone is set by the
leader and on this tone the workers work to achieve the objective of an organisation.
Organisational culture: Organisational culture is the beliefs and values that exist in an
organisation. If there is well thought out strategies and strong execution then only in the
industrial economy that organization is said to be efficient. It is up to the leaders and their
teamwork to move forward in order to allow for Organisational innovation and its vision. The
leadership plays an important role to achieve the organisational vision. The innovative leaders
has a vision of the future. The innovative leaders are capable of developing trust in their
employees. Aspirational goals are set by the leaders for his team keeping in mind organisational
vision and culture which inspires the employees to work efficiently. The drive of the effective
leaders creates innovation culture and leads to the path of commercialization. When the
cooperation between leadership and employees is good then the organisational culture make a
great contribution to team communication and encourage the team to accomplish the
organisation vision (Polson et al. 2016).

Ml. Analyse different sources of innovation and how organisation can foster and develop
an environment and culture of innovation
There are different references of new ideas like new knowledge, unforeseen occurring,
demographic changes, market changes, changes in perception. The changes in perception of
people can lead to the rise of innovation. The advancement in science brings in new knowledge
which is a strong producer of innovation. In innovation there is talent, ingenuity and knowledge.
Apart from this hard work and commitment is required to make innovation a success. It is up to
the organisation to formulate teams whose aim will be to help the company in seeing new
opportunities side-by-side protecting their interest and plan from their competitors.
Dynamic products are created by innovative businesses and also new ideas are implemented and
adjustment is also done with the existing services by innovative businesses. There is a risk of
losing work to competitors if the business is not innovative. Innovation is an important element
that is included in the business strategy. The thinking as well as improvement of problem solving
is the impact of cultural Outlook. Wiser has achieved its success because of innovative practices
(Maritz et al. 2015).

L02. Explain different types of innovation.
P3. Explain the 4ps of innovation and explain use of innovation funnel to examine and
shape innovative ideas.
4P’s of Innovation.
A new idea mix or a 4ps tool helps to understand the usefulness of innovative new ideas and the
benefit it can bring to the organisation. The 4ps are inculcated in the process of innovating.
Paradigm: The paradigm is all about framing the business. There can be radical change like
the change in business model. Wiser company saw new aspect in the business. Earlier Wiser was
only seen as in-house creative and recruitment solution later looking with a totally different
paradigm the owner of Wiser saw it as a home for young Aspiring people. Innovation helps to
visualise same thing from different perspective and this takes the company forward.
Product: The product deals with what the company offer. It deals with further improvement of
the product to make it far better. Wiser has series of innovation. They launched new products and
services and improved existing ones.
Process: The process deals not only with how to create that offering of improved products but
also deal with work flow, hiring people or trainings to enhance the profit. Process innovation
includes both distribution and manufacturing process. Instead of only limited to UK Wiser
became available to Europe also. The creative of this company innovate with design, web and
film to make company great.
Position: The position deals with the target area and also takes into consideration the customers,
employees as well as public. In order to sustain in competitive market Wiser became available to
aged, young and also entrepreneurs.
The stages involved in creating a good or device is described by business funnel. Three major
steps are involved in developing innovation funnel (Loya et al. 2016).
New idea channel

1st step: An initial stage stresses in the business channel’s opening .In this step the enhancement
of the organisations learning power is achieved. To gather information is the main focus of this
step.
2nd step: In the next level the aim is on the thin part of the business channel. In this level the
screening of the information is done to match the ideas with the goals to see if they are related.
3rd step: The narrow segment of the funnel is the 3rd stage. At this level the company sees to it
that the selected ideas deliver on the company’s objective and then the new product service is
release in the market.
The funnel concept is adopted by many organisations since it favours safe ideas. The
innovation funnel helps the company to become aware of the available product and what it has to
improve on to enhance its growth (Prager et al. 2016).

M2. Analyse and apply the innovation Funnel in an organisational context.
A business channel is a model utilised by many organisations for evaluating ideas and visualising
their product. This helps to manage the new product development process. The innovation funnel
gives an opportunity to the organisation to assess the opportunity that exists for their new
product. The innovation funnel gives a graphic structure and also screens alternative
development options for the organisation (Nepelski et al. 2018).

P4. Explain development in frugal Innovation and provide examples of how it is used in an
organisational context
The purpose to decrease cost and complexities dealing with goods manufacturing is called
economical invention. The functional solution through few resources is provided by the frugal
innovation for the organisation that has little means. The frugal innovation focussed on the lower
level and later moves upwards to profit everyone. This kind of innovation process which
debunks heavy R&D investment claims, it is also a resource constraint but it achieves
profitability. Frugal innovation emerges in emerging market of vast population but few resources
and the complex Institution. It is through frugal innovation that entrepreneurs fulfil local needs.
The frugal innovation helps to solve many problems at local and practical level. The frugal
innovation is adopted by the firm to give away their goods at reasonable cost. Consumers are the
poor classes. The firm develops this idea to decrease their expenses and cost of manufacturing
(Bhardwaj et al. 2015).

M3.Evaluate the role of frugal Innovation in an organisational context
A limitation of essential resources develops serious constraints making it difficult to develop
new product. As a result frugality not only deals with reducing the cost of the product but also is
designed to operate in the constraint resources context. Therefore it is clear that driver for frugal
innovation is the disequilibrium in terms of resources. The firm make use of frugality to cut their
R&D expenditure and also the manufacturing cost. Moreover the frugal innovation is also used
by the organisation to deliver understanding to their technical department of wealthy countries.

Dl. Critically analyse how innovation is developed, embedded and measured in an
organisational context
For survive and sustain in the competitive market an organisation make use of innovation. No
organisation can survive without innovation. The process of Innovation is best handled with
future vision. The process of Innovation is divided into different implementable steps. The prior
deals with purpose identification followed by small deliveries which then follows production. In
the first step the entire innovation process's motivational aspiration is established. After the goal
is defined it is the responsibility of the management to access performance to goals. When
execution stage is divided into two then innovation process will bring in near term success
(Prager et al. 2016).

L03. Discuss the process required to commercialize innovation.
P5. Explain the importance of the commercial funnel and the application of new product
development (NPD) processing for commercialization of innovation
When the company takes into consideration the buying behaviour of the customers when he is
purchasing is known as the commerce channel. A business channel or the sale channel aptly
regarded the important concept in digital marketing industry. This concept is efficiently followed
by Wiser to digitally lead the business across UK and Europe. This concept can lead the business
from non-existent to that of multi-million dollar marketing machine within a short span of time.
At the top of the funnel many visitors come who may enter the funnel. Unlike real world funnel
all the visitors does not re-emerge from the other end. To solve customers’ problem is the goal of
entire sales funnel. When the problem is analysed then content is built to attract the customers
and then product or services are offered to them to solve their problem. When the customer enter
the funnel main goal as a marketer is to lead them through different stages to make them from
prospect to buyer. The sale funnel is divided into different steps such as Awareness phase,
Interest phase, Decision phase and Action phase (Bhardwaj et al. 2015).
Awareness phase: At this stage the customer determines its problem and searches a solution for
it.
Interest phase: At this stage the sales conversion increases while the number of customer
prospect decreases. At this stage the customer ask many questions from the organisation.
Decision phase: At this stage the customer has become aware of this problem, the organisation
and has got answers for his questions. Now the time for decision making comes relating to
different options available.
Action phase: This is the final step as because customer has decided to purchase the product.
The new product development or NPD and commercialization is the supply chain management.
This enables to bring into commerce innovative goods. The aim of NPD is to maintain and
increase the company’s market share. The proper implementation of this process helps the
management to co-ordinate the proper flow of new product and also assists the members of

supply chain with manufacturing, marketing and various other activities to support the
commercialization (Collet et al. 2015).

M4. Build a detailed Innovation Business Case for the chosen organisation which includes
how to measure its overall effectiveness using appropriate techniques available to test,
iterate and improve.
Wiser Company successfully use Innovation method to survive in this competitive world. The
company also uses brightest tech talent to digitally lead business across UK and Europe. The
company uses the effective measure techniques to measure its effectiveness. To take maximum
advantage of the business opportunity, it is important to always test it .An iterative approach
helps Wiser provide Visitors. Wiser Company tries its full effort to keep on improving its
services to gain more consumers.

P6. Build an Innovation Business Case in an organisation, including ways to access funding
Today's competitive world technology is continuously changing. So it is important for all types
and size of organisation to make strategic investment to stay competitive. This basically means
to create and promote a strong business case for change. One thing must be kept in mind that
board members are experienced in business, and they are highly literate and well educated
therefore the badly structured business case will create a negative impact hence it is important to
create an efficient and well-structured business case. The innovative business case has executive
summary, problem statement, solutions, project description, cost benefit analysis, risk analysis
and recommendations. Before writing the business case it is important to do research work and
gather data on case studies, financial reports and industry research.
This is very important part of the business case because this is the very first attempt to sell the
idea. Its length should be around 400 to 600 words. This is a good length. The summary must be
powerful and simple and the idea of the organisation should be presented in such a way that it's
easy to follow. The rest of the business case depend on the executive summary because if only
the executive summary is compelling then only the rest business case will be read (Ahn et al.
2015).
Before writing the executive summary it is important to spend time to craft a strong opening
statement. The problems and also the proposed solution should be stated in the first paragraph
and Technical language should be avoided. To introduce some important dramatic statistics that
are relevant to the problem one is proposing to solve would be very effective. It is important to
keep audience in mind and concentrate on one of the solution the business benefit such as cost
saving, risk reduction, productivity improvement and also competitive advantage. Then few short
paragraph should be written explaining the solution in detail. It is important to inculcate the
problem one is solving, its Solution, a non-technical explanation of how problem can be solved
by ones solution, alternative solution, cost and return on investment, risk and risk management, a
short Conclusion and then a call to action.
Problem statement

In this section one has to state what problem can be solved by his project. The various business
problems like inefficiency, poor performance are identified. Any upcoming opportunity can be
predicted relating to which ones organisation is not ready to take advantage.
Solution options
Solution option has two goals. Firstly, to prove the homework and is suggesting the best solution
and secondly to overcome the possibility of not taking any action. It is important to demonstrate
that one has investigated the various alternatives and selected the best to make ones solution
credible. Then the alternative must be summarised and discussion should be made on how to
evaluate them.
Project description:
In this section, the proposed solution is described in detail. It is technical in nature. A timeline,
all the needful resources, budget, measurable goals, baseline assumptions is included. Also the
availability of particular skill, important resource requirements should also be included. Also the
financial metrics and key risk are also noted along with success criteria and key performance
indicators.
Cost benefits analysis:
This section deals with solutions financial benefits. In some cases this is easy while in other it is
more difficult. It is better to work with finance department. It is important to access internal
methodologies and data. Vendors, independent Consulting firms are also valuable source of
information. To show calculations using different assumptions is the way to demonstrate
financial prudence.
Risks analysis
This section deals with planning to mitigate business risk. As most businesses are risk averse so
this will play an important role in the decision making process. One’s assumption should be
clearly identified and assured that they have been tested to mitigate the risk. This will bring more
confidence in ones proposal by decision makers.
Recommendations

In this section ones argument is wrapped up by drawing together all the material presented so far.
To give solidity a high level implementation plan must be included. By this act the decision
maker will become more confident. At last with a strong call to action this section is closed.
Hence it is important to create a clear structure document that speaks directly to its audience and
understands them. If the problem analysed, possibilities of Investigation and the solution
suggested are sound then the business case will definitely reflect that (Kriz et al. 2018).

L04. Evaluate the range of methods for protecting ideas and understand their advantages
and disadvantages.
P7. Evaluate the different tools that the organisation can use to develop, retain and protect
knowledge and intellectual property.
It is very important for the organisation to adopt innovation to enhance its growth. After the
innovating process is completed it is necessary for the company to get its innovation and
invention process as well as its intellectual property protected. The organisation uses various
tools like patents, trademarks, copyrights and designing rights to protect its intellectual property.
Patents: The inventions are protected and also the improvement to the existing invention is done
by patent. The patents are permitted for 20 years .After the company obtains patent right then it
will be illegal if any other person use those patent without the permission of the inventor. The
patents are registered in the patents office.
Trademarks: Trademarks are words, symbols or even images that an organisation uses for its
product or services which makes it stand apart from the rest these are basically unique words or
slogans. To obtain a Trademark it is a very lengthy and costly process because it involves many
formalities.
Copyrights: Any innovative work which is very unique in the world is protected under
copyrights. The ideas in literary, artistic and musical words are protected by copyrights. It is
important for the copyright work to be artistic and original. The business uses a copyright to
protect company brochures, other documents and also its annual reports.
Designing rights: Designing rights are granted to the business for the design and graphical
representation .It is very important for the designs to the original.
The establishment of patents, trademark, copyright and designing right on an organisations
invention enables the organisation to protect the Inventions legally and earn gains from it (Schot
et al. 2016).

M5. Present supported evidence- based evaluation of these different tools in the context of
the wider business environment.
The organisation uses very tools like patents, trademark, copyright and designing right to protect
its intellectual property. Through The Patents Act of 1977, registers the patents. The grant of
patents are for 20 years. Only when new ideas clears registration stage efficiently then only
permission is granted. When patent gets registered if any other person is found using those patent
then this person is legally dealt with .The holder of patent has the right to apply patent to
improve the organisation. It is the unique Trademark that enables others to identify the particular
Organisation in the market. The trademarks are used by the organisation for the promotion of its
product and services. The copyright office handles the copyrights. To obtain copyright some
fees are given by the Belonger of copyright and then he is granted a licence .After the
copyrights are permitted to the owner, it is up to the owner to permit other to use those
copyrights. Infringement occurs when other person without the permission of the owner of
copyright uses these works. The designing writes are very exclusive rights and are granted for
about 15 years and after the completion of this period, for another five years they can be
renewed.
Hence if an organisation invent a product or device, and also find a unique name or slogan, or
write the company’s document efficiently then it is necessary for it to spend time to protect its
intellectual property from its competitors in the wider business environment (Nepelski et al.
2018).

D2. Critically evaluate the nature of innovation and the context in which it is developed,
providing evidence-based judgement on how the organisation can overcome challenges to
develop successful innovations.
A commercial funnel helps in solving customer’s problem. After the problem is analysed and
content is built to attract the customer and product and services are offered to them. The new
product development helps to bring into market new products jointly with customers and
supplies. The frugal innovation provides functional solution through few resources. It is proved
by frugal innovation that the organisations are able to overcome challenges to develop successful
Innovation. The frugal innovation is designed to operate in the constrained resources but still
firm make use of it to cut their R &D expenditure. Moreover to develop successful innovation
organisation make use of different tools to protect its intellectual property specially innovations
(Polzin et al. 2016).

Conclusion
It is concluded from the above study that innovation is very necessary for an organisation to
survive. It is seen that Innovation and commercialisation are enhanced by culture, leadership and
also organisational vision. Moreover it is analysed that the 4ps tool helps to understand the
usefulness of the innovating process and the benefits it can bring to the organisation. A new idea
funnel helps to manage the new product development process. Moreover it is also analysed how
an organisation can effectively use frugal innovation. Along with the benefits of the business
channel also the processing approach of new products development in commercialization of new
ideas is analysed. An innovation Business Case has been explained to clearly understand the
approach and adaptations.

References:
 Han, J.M., Minshall, T. and Mortara, L., 2015. Open innovation: a new classification and
its impact on firm performance in innovative SMEs.
 Bhardwaj, S., Padmanabham, G., Jain, K. and Joshi, S.V., 2015. Innovation paradigms:
contractual models for research and technology organisations. International Journal of
Technology Transfer and Commercialisation, 13(3-4), pp.133-153.
 Chun, D., Chung, Y. and Bang, S., 2015. Impact of firm size and industry type on R&D
efficiency throughout innovation and commercialisation stages: evidence from Korean
manufacturing firms. Technology Analysis & Strategic Management, 27(8), pp.895-909.
 Collet, C., Hine, D. and du Plessis, K., 2015. Employability skills: perspectives from a
knowledge-intensive industry. Education+ Training, 57(5), pp.532-559.
 Dhewanto, W. and Sohal, A.S., 2015. The relationship between organisational orientation
and research and development/technology commercialisation performance. R&D
Management, 45(4), pp.339-360.
 Kriz, A. and Welch, C., 2018. Innovation and internationalisation processes of firms with
new-to-the-world technologies. Journal of International Business Studies, 49(4), pp.496-
522.
 Loya, M.I.M. and Rawani, A.M., 2016. Strategic framework for commercialisation of fly
ash innovations. Technology Analysis & Strategic Management, 28(5), pp.555-567.
 Maritz, A. and Donovan, J., 2015. Entrepreneurship and innovation: Setting an agenda
for greater discipline contextualisation. Education+ Training, 57(1), pp.74-87.
 Nepelski, D. and Piroli, G., 2018. Organizational diversity and innovation potential of
EU-funded research projects. The Journal of Technology Transfer, 43(3), pp.615-639.
 Polzin, F., von Flotow, P. and Klerkx, L., 2016. Addressing barriers to eco-innovation:
Exploring the finance mobilisation functions of institutional innovation
intermediaries. Technological Forecasting and Social Change, 103, pp.34-46.
 Prager, K., Labarthe, P., Caggiano, M. and Lorenzo-Arribas, A., 2016. How does
commercialisation impact on the provision of farm advisory services? Evidence from
Belgium, Italy, Ireland and the UK. Land Use Policy, 52, pp.329-344.

 Schot, J. and Steinmueller, E., 2016. Framing innovation policy for transformative
change: Innovation policy 3.0. SPRU Science Policy Research Unit, University of
Sussex: Brighton, UK.