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Innovation and Commercialisation - Solved Assignment

   

Added on  2021-02-20

10 Pages2545 Words28 Views
Leadership ManagementProfessional Development
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Innovation andCommercialisation
Innovation and Commercialisation - Solved Assignment_1

Innovation and Commercialisation - Solved Assignment_2

INTRODUCTIONInnovation can be defined as implementation of new ideasto meet the desired goal.Innovation is the application through which companies can convert a new idea into positiveresult or make changes in product or it can be make improvements in that particular productwhich creates value for that product and customers will attract towards the product and they willready to pay the amount for that innovative product. Invention means developing product byusing new ideas or the product which is going to be made for the first time. Things that arecreated or made are called inventions. Invention is using of technology and through thattechnology solve the particular problems. The technical feature is that it will give solution to theproblems which are coming at the time of making a new product. MAIN BODYP1 Innovation and invention sounds similar but there is lots of difference between them. InnovationInnovation is something that to make changes in product or it can be make improvementsin that particular product which creates value for that product and customers will attract towardsthe product and they will ready to pay the amount for that innovative product. In organizationinnovation results will comes in front when any kid of idea is being implemented to get desiredresults of satisfying consumers (Adelowo, Akinwale and Olaopa., 2017).Invention Invention means creation of completely new or different product that is never sell inmarket before. Things that are created or made are called inventions. Invention is using oftechnology and through that technology solve the particular problems. The technical feature isthat it will give solution to the problems which are coming at the time of making a new product.It is also known as technical teaching. The invention can be a process or it can be a product.Invention is a process with whole engineering and product development process. Some of theinventions can be patented.Invention innovationIt is the development of anidea for a process Innovationreferstoimplementation of idea andproduct for the first time. It is
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