Innovation and Commercialisation Report

This report analyzes the concepts of innovation and commercialization using Innocent Drinks as a case study. It explores the difference between invention and innovation, discusses various types of innovation, and analyzes the process of commercializing new products. The report also highlights the importance of teamwork, vision, culture, and leadership in driving innovation and commercialization success.

Innovation and
Commercialisation
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Table of Contents
Innovation and Commercialisation..................................................................................................1
INTRODUCTION...........................................................................................................................3
LO1 Explain the context of innovation and determine the difference between invention and
innovation........................................................................................................................................3
LO2 Explain the different types of innovation................................................................................7
LO3 Discuss the process required to commercialise innovation.....................................................8
LO 4 Tools to develop, retain and protect knowledge and Intellectual property .........................12
CONCLUSION..............................................................................................................................13
REFRENCES.................................................................................................................................14

INTRODUCTION
Innovation is a formative process which helps in creation of new and innovative ideas,
thoughts and advanced form of imaginations in the mode of strategies and methods. This term
further can be termed as a procedure that includes different types of activities in order to reveal
new behaviour to effectively undertake things (Abdul Razak and Roberts, 2014). While on the
other side, Commercialisation is a process which helps in developing feasible values for an
organisation. By using data and information’s and by converting them into effective finished
products and services organisations can easily able to fulfil requirements of their consumers.
Present report has been based on, Innocent Drinks which was established in the year 1998 by
Richard Reed, Jon Wright and Adam Balon. Company offer their products and services in the
region of Europe and sell estimated amount of more than two million smoothes per week. As
company mainly offer their products made up with crushed fruit and juice and contains no
amount of sugar in their product. Company is looking forwards to launch a new product as there
is a high increase competition in UK market. Company wants to launch a customized smoothes
with different natural flavours as per the demand of customers. Report covers importance of
innovation, teamwork, vision, culture and leadership along with frugal innovation. In addition,
with this, different types of tools and commercial funnel concept are covered in this report.
LO1 Explain the context of innovation and determine the difference between invention
and innovation
Innovation: Innovation is mainly a developmental process that helps an organisation to
improve their products and services by adding more value in it (Fuertes-Callen and Cuéllar-
Fernández, 2014). This further helps them to gain competitive advantage within a market.
Innovation is an influential process with the help of which a company can effectively able to
make necessary modifications and alterations in their existing products and services. This can be
accomplished by adding something new and unique factor within it and make them different in
its own way. Innocent Drinks effectively takes advantage of innovation in order to offer
something extra in their products and services and serve their customers with something best.
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Innovation effectively benefits company to increase their sales margin which will automatically
lead towards increasing their profitability.
Invention: It is a process within which development of totally fresh and new device or a
product is made. Invention is a process that is adopted by an organisation to bring something
new and unique in a market place in order to take lead against their competitors.
BASIS INNOVATION INVENTION
Concept It is a formative process in
which a unique and new
factor or an element is added
in a product and service
(MacGillivray, 2014) This
process is done by an
organisation to gain more
competitive advantage in a
market place and increase
profitability.
It is a process in which
creation of something new
and fresh is done. With the
help of this organisation can
effectively create new market
for their offering.
Scope Organisations have wide
range of scope to conduct
dissimilar form of actions
with the help of theme,
technology, innovation and
cost.
It consists a constructive
approach that may be taken
into reflection a solo service.
Occurrence It is important for Innocent
Drinks to improve
effectiveness in this existing
products and services by
adding something unique
feature in it.
Different types of new and
fresh ideas and thoughts are
required to be considered by
scientists that can further
benefit an organisation to
discover brand new
merchandise.
Skills Required Different types of skills are Technical skills are required

effectively required by an
individual to adopt in relation
with adaptive skills and
technology. This will further
help in creating policy and
strategies that will
simultaneously helps in
guiding employees.
to be effectively implemented
by an organisation with the
help of which they can create
new and innovative products
and offer the same within
marketplace in order to
increase their effectiveness
and competitiveness.
Importance of Organisation Innovation process will
effectively help Innocent
Drinks to satisfy their
customers by offering
customized smoothies with
different types of natural
flavours. Along with this it
benefits company to gain
more competitive edge (Chun
and Bang, 2015).
Invention is a formative
procedure in which it is
required by an organisation to
create totally new commodity
with the help of techniques
and new ideas.
Importance of Innovation in Innocent Drinks
It is important for an organisation to take advantage of innovation within their
organisation functions as to gain more success and effectiveness in a marketplace. It is essential
for Innocent drinks to take formative benefits from the concept of innovation in order to stay one
step ahead from their competitors and acquire more successful advantages. It aids an
organisation to further increase their overall rate of return on investments. Along with it also
helps company to raise their consumer base. Mentioned below there are some significance of this
method:
Increase creativity among employees: There are mainly two types of techniques such
as, incisive and expeditious with the help of which an organisation can effectively able to
increase performance and creativeness among its employees. This will automatically help them
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to increase their profitability base. Innocent Drinks offer customized smoothes with natural
flavours in the region of U.K, Europe. With the help of inventive method they can effectively
increase their effectiveness and competitiveness.
Increased Profit: It is essential for an organisation to effectively perform their
organisational operations performance as to increase their consumer base and profitability on
same hand. Innovation helps an organisation to innovate their existing products with the help of
theme, technology and other related factors. Innocent Drinks can effectively take benefit of
incisive methods in their process of manufacturing. For instance, Innocent Drink offer
customized smoothes with different types of natural flavours to their customers. This is an
adjoining uniqueness in their existing product that will attract wide attention from their
customers and simultaneously increase company return on investment.
Organisational vision, leadership, culture and teamwork for innovation and commercialisation
Innovation is termed as an important factor which helps an organisation to effectively
increase their profitability by increasing their creativeness. It is a formative process which leads
towards construction of new facts. In relation with Innocent Drinks, with the help of innovation
company can effectively able to provide something new offering within a marketplace and
increase profit simultaneously (Dincer, 2017). By making developmental modifications within
their process of modification company can easily able to expand their merchandise section along
with administration. Innovation is of many different types such as, technical, process and
administrative. Innocent Drinks by taking advantage of different form of innovation such as,
making their selling process online can effectively able to increase their area of products offering
which helps them to increase their profitability base.
Commercialisation:
It is a formative process that includes running and effective management of product and a
service as to get more financial advancements. Thus, this process is mainly done in an effective
way as to bring and introduce a service or a product within a marketplace.
Some offering which are done by Innocent Drinks in terms of their teamwork and
leadership, vision and culture are defined below:
Innovation and Vision: It is important for an organisation to have strong vision in order
to invest money and time and energy on innovation as inefficiency of vision lead company
towards failure. It is important for Innocent Drinks leaders to posse’s methodical visualisation

along with effective strategies of communication. Company is looking forward to offer
remarkable treasure and exotic range of smoothes with natural flavours to UK population. With
help of this innovative idea company can effectively able to gain more competitive and
profitability within marketplace.
Leadership and Innovation: In order to effectively fulfil organisation goals and
objectives it is important for Innocent Drinks leaders to efficiently encourage and guide their
employees on daily basis with the help of various techniques. It is the basic responsibility of
entity leaders to provide all the essential resources to their workers in order to increase their
efficiency. For this tool of alteration can be used by leaders to encourage their employees
towards more growth. This will further benefit Innocent Drink to increase effectiveness which
can be done by company by adding more value in their commercialisation process in a
marketplace. Leaders of Innocent Drink take advantage of democratic and situational form of
leadership style in order to bring more innovation within their products and services.
Innovation and Culture: Culture is mainly a clear set of attitude and principle that are
adopted by an organisation or an individual (Sterckx and Cockbain, 2014). Innocent Drinks take
advantage of different form of culture that effectively takes their organisation towards more
advanced innovative culture. It is the major responsibility of leader of Innocent Drinks to adopt
proper coordination in between their workforce in order to develop a healthy and positive
working culture. Innovation mainly is a result of commercialisation and invention in which
overall perspective of an organisation are effectively considered. Thus to bring innovation in
their culture, Innocent Drink provide flexible working structure to their employees that have less
restrictions which will further help their employees to think in more innovative way and try new
developmental things.
Teamwork and Innovation: By taking advantage of different types of tools and
techniques Innocent leaders can effectively able to guide and direct their employees and further
encourage them towards more effectiveness. For this they make their employees perform their
task in a team. This will help them to accomplish organisational objectives and targets in a
collaborative way. Along with this company leaders effectively make sure that they share and
communicate their vision of new customized smoothes with their employees so to accomplish
their targets in best effective way and increase their commercialisation base along with its
productivity.
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LO2 Explain the different types of innovation
4P’s of Innovation
It is a formative tool of mix innovation that mainly deals with improvement process in an
organisation. There are different types of factors included such as, product, position, paradigm
and position. It is important of an organisation to specify their objectives with their workforce
which helps them to carry their process of trade and product development. Mention below there
are 4P’s:
Product Innovation: In this innovation organisations find different types of ways with
the help of which they can effectively able to increase efficiency of their existing products.
Innocent Drinks implemented various form of methods and innovative technology as to increase
and further improve effectiveness of their products and services. It will benefit company to
increase their profitability base along with magnificent rise in their productivity.
Position Innovation: In this form of innovation organisation offer different types of new
market segments as to offer their products and services in best effective way. With help of
position innovation Innocent Drink can effectively able to find out new marketplace in order
tobhawana.y offer their merchandise and new services (MacGillivray, 2014). This will further
aid company to effectively study the range of new market segment and can easily able to
recognize potential consumer base in order to increase their sustainability in a marketplace.
Process Innovation: In process innovation organisation effectively analyse different
forms of innovative methods that will further help them to add or create a value within their
process of production and increase quality of their process in order to develop cost effective
services and products. With help of this process Innocent Drinks can effectively able to increase
their productivity. In order to effectively accomplish this target, it is important for company to
effectively implement procedure of invention and allocation in their drinks.
Paradigm Innovation: It includes different types of theories, doctrine, values and
beliefs. Within this there is different form of mode are covered with the help of which an
organisation can effectively accomplish their organisational operations. In addition with this,
paradigm innovation consist formative paradigms with the help of which company can
effectively able to increase its efficiency. With the help of this innovation, Innocent Drinks can
effectively able to raise their quality and superiority of their products and services.

LO3 Discuss the process required to commercialise innovation
Commercial Funnel
Commercial funnel is mainly referred as a sales and revenue funnel. It is generally a
graphical representation within which process of sales with customer are covered when they
undergo in the process of buying products. It is considered as a one of the most effective process.
In this initial step that mainly includes awareness stage and final stage comprise post purchase
evaluation. It is one of the most effective processes that help in taking business from domestic to
international level.
In relation with Innocent Drinks, in order to gain more growth opportunities along with
increase in sales performance it is essential for an organisation to adopt different techniques of
innovation. In present case scenario, company is looking forwards to launch customized
smoothes with natural flavours in a marketplace. By doing this company is planning to offer
nutritious drink to their customer as their smoothes include natural flavours. As company wants
to expand their services in global market this will further help them to increase their sales
margin. In this, it is important for entity to adopt best effective guidelines as to make their
employees to deliver their job responsibilities in best possible way.
Stages of New Product Development are mentioned:
Idea Generation: It is a starting and initial stage in relation with new product
development with the help of which management can further gain advantage to use innovative
ideas to further increase their sale margin (Sengoku, 2015). Customized smoothes will be
offered by Innocent Drink that will effectively soothe taste buds of customers. In this, it is also
important for entity to ensure that customer’s needs are effectively fulfilled.
Idea Screening: In order to effectively increase effectiveness of their product in a
marketplace it is important for Innocent Drink to evaluate and analyse feasibility of product. In
this they are required to take responses from their customers towards their new offering. This
will effectively help them to remain one step ahead from their rivals. Further it also aid company
to find those areas in which their product fails to effectively outstand and can help them to find
measure to find ways with the help of which they can overcome those issues.
Testing Concepts: In this process Research & Development team of Innocent Drink are
require to effectively investigating requirements, demands and desires of consumers with the
help of which they can easily able to increase customer loyalty and sustain within marketplace
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for long period of time. In addition with this it also help Innocent Drink to make sure that their
new invention is unbeatable in marketplace.
Analyse needs of Product Development: This action is considered as a one of the most
effective measure, within which it is important for an organisation to develop suitable strategies
with the help of which they can launch their product in a successful manner in a marketplace. In
addition with this, it will further benefit company to attract attention of large consumer base
those who are more tend towards natural flavours.
Commercialization: It is a last and end stage within which it is important for Innocent
Drink to launch their creation in a marketplace in order to gain market share on a large basis.
Along with this with the help of effective and appropriate strategies company can able to build
surety in their invention.
Innovation funnel:
It is defined as process which is opted by organisation while manufacturing of their
services as well as goods. The principle behind this is to boost up process of services and deliver
them when they are being demanded by customers (MacGillivray and et. al., 2014). It consists
of three steps, initial step is well built information which is needed by organisation to have
effectual information for carrying out their operations as per latest trends.

Use of Innovation Funnel at Essence Drinks:
Innocent Drinks can make use of these steps to gather information which is about their
competitors and customers with usage of questionnaires as well as surveys. Next step in this is to
monitor ideas which are formulated within organisation. It is necessary for an entity to have
effectual ideas by which they create trenchant products (Fuertes-Callen and Cuéllar-Fernández,
2014). By transmitting ideas organisation can find out excellent ways by which they can boost up
overall rate of interest. At final stage, this scheme assists organisation to achieve their
organisational objectives after having decisive assessment. Innocent Drinks make use of this to
attain requirements of their customers in bendable manner. It is a smooth process for increasing
efficiency and prosperity.
Innovation business case :
Business case is referred to as organisation which comprises of requisite as well as
significant things that are necessary for achievement of business goals as well as objectives.
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Illustration 1: Innovation Funnel

Business case can be described in both verbal and written manner in appropriate manner along
with their working environment.
Executive summary: Business case of Innocent Drinks is to advertise their customised
smoothies with different natural flavours as their new product. For this they need to have
appropriate strategies as well as they need to analyse PESTLE, SWOT and Porters five force
model. After analysing the results obtained by this, they can improvise their success as well as
growth (Fuertes-Callen and Cuéllar-Fernández, 2014).
Mission statement:Innocent Drinks aims at contributing health based smoothies with
different natural flavours which provides real taste and comprises of natural ingredients which
comprises of nutritions and high value of proteins which will make people happy as well as
happy. The mission statement of Innocent Drinks is provided below:
 Expansion of customer satisfaction to render goods which goes beyond customer's
expectations. Ensure the quality of raw materials used for making of customised smoothies and set up
trademark by making use of marketing strategies.
Resources:To administer innovation process in effectual manner they need to consider
certain possessions. It is essential for an organisation to organise as well as make appropriate use
of resources for accomplishment of regular operations.
Market analysis: It is mandatory for Innocent Drinks to examine entire marketplace in
appropriate manner to identify their competitors and analyse the taste of their potential
customers.
Cost and benefit analysis: Cost of customised smoothies can be accessed by analysing
preferences of customers. They need to have cost effective benefits with respect to their other
services. This will assist them to maximise overall ratio of performance (Greenaway and Rudd,
2014).
Financial projection: For possessing innovative product i.e. customized smoothies with
different natural flavors, for this they need to have near about £40,000.
Access Funding ways: It is backbone of business without which organisation cannot
conduct their operations in necessary manner Innocent Drinks must maintain effective funds by
which they can have their product within market. They can make use of resources such as:

 Bank and Financial institute: Innocent Drinks can take credits from banks as well as
financial resources to intensify their funds. This will also provides them security when
loan is taken from bank.
 Benchmarking: It is a strategic tool which is utilized by Innocent Drinks for carrying out
comparison of business processes and products within the industry (Gulbrandsen and
Aanstad, 2015).
 From Family and friends: Innocent Drinks can have money from identified people as
they do not need to pay security and interest.
Innocent Drinks can make use of loan from banks to increase their funds as well as
maximise the revenue as it will provide appropriate security.
Investors: They are key investors which includes employees, stakeholders as well
as business partners.
LO 4 Tools to develop, retain and protect knowledge and Intellectual property
Intellectual Property
There are mainly two kind of rights such as industrial property, copyrights and rights. In
relation with Innocent Drinks company can effectively able to secure their properties and rights
by enlarging their area legal understanding relating to intellectual properties rights:
Copyrights:
It is a legal term that effectively define privileges that is required to be provided by a
owner in order to defend their related works (Ahmadi and O'Cass, 2016). In relation with
Innocent Drinks company can take advantage of copyright to defend their right of smoothies.
Trade secrets:
It is mainly a proprietary data and an undisclosed information which is related with
values and norms. This will help Innocent Drinks to acquire their security in a faster and less
costly manner.
Patents:
It is one the major significant intellectual property. In this property owner protects their
property and services by taking use of patent. This prevent them to safeguard their essentials
from copying. Therefore, with the help of strong patent, Innocent Drink can secure their benefits.
Patent will prove very effective for Company as with help of this they can protect their natural
flavours from being get copied.
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CONCLUSION
As per the above mentioned report, it has been concluded that innovation is a most
important factor with the help of which an organisation can gain maximum success. It will
further help them to earn more rate of interest and shares. In addition, with this frugal innovation
concept is also described in this report as this will effectively help entities to increase their
customer base. Along with this business case also aid an organisation to conduct their
organisational functions in best effective way. There are different types of intellectual properties
with the help of which company can safeguard their assets.

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