logo

Innovation and Commercialisatio Report - Essence Drinks Company

   

Added on  2020-07-23

17 Pages5253 Words167 Views
Innovation andCommercialisation

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1PROJECT 1......................................................................................................................................1Introduction.................................................................................................................................1P1 Describing innovation and its importance to organisation in comparison with invention....1P2 The way vision, leadership, culture and teamwork can shape innovation.............................3Conclusion...................................................................................................................................4Project 2 .........................................................................................................................................4Task 1 .....................................................................................................................................4P3 Describe 4ps of innovation and their use in innovation funnel examine ideas......................4P4 Developments in frugal innovation........................................................................................5Task 2 ..............................................................................................................................................7P5 Importance of commercial funnel and new product development process............................7P6 Build an innovation business case for the organisation.........................................................9Task 3.............................................................................................................................................11P7 Techniques to develop, retain, protect intellectual property................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONInnovation is defined as the process of translating an ideas or invention into particulargoods and services that helps to create value, for which customers will pay. Ideas must beeffective that helps in economic growth and satisfy customer's needs and wants. It includesapplications of information, imagination and initiative which for creating unique or featuredproducts. This project report is based on Essence Drinks Company that incorporated before 2years in the United Kingdom (Sandberg, 2012). In recent scenario, they are facing manyproblems such as decreasing in sales of their drinks so as a innovations consultant, somerecommendation are given that helps to bring innovation in existing product line for increasingsales volume. This project will consist explanation of importance of inventions and comparisonwith innovations. It will define that how organisational vision, teamwork and leadership supportin shaping innovation and commercialisation. There are several ways that can be adopt in thecompany and various approaches to develop innovative ideas would be discussed. There aresome tools and techniques also defined that organisation can use to develop, retain and protectknowledge and intellectual property. Innovations steps helps to the company in producing new orcreative products and introduce it into the market in order to increase sales volume. TASKPROJECT 1(Covered in PPT)IntroductionInnovations is the process which helps in developing new as well as existing product withmodifications for an organisation growth. It support to create new methods for alliance creation,joint venture, working hours and create new buyers for increasing purchasing powers ofcustomers so they can pay willingly. So, it helps in promoting the products and enhancing sales. P1 Describing innovation and its importance to organisation in comparison with inventionInnovations consider new ideas which applying in business operations. In this includesvarious practices that helps in converting creativity into useful goods and services for satisfyingcustomer's needs or wants. It can be used for retaining buyers as well as support to make themloyal towards company with increasing its product's sales among competitors. Innovationsupports in creating new methods to develop specific products so that purchasing power of1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Innovation and Commercialisation Report - Ensoft
|14
|4161
|26

Innovation and Commercialisation :Assignment
|16
|4995
|248

Innovation and commercialisation - mango lassi Assignment
|14
|4768
|336

Innovation and commercialisation - Essence Drinks Assignment
|11
|3618
|476

Innovation in a small business context: How organisational vision, leadership and culture shape innovation
|16
|4664
|104

Innovation and Commercialisation- Essence drinks
|16
|4878
|176