Innovation and Commercialization Strategies

This assignment examines the importance of innovation in organizational success, particularly for companies like Procter & Gamble (P&G) and Heinz. It explores how these firms can implement effective innovation strategies within their products and processes to enhance operational efficiency and market competitiveness. The analysis emphasizes the crucial role of teamwork in driving innovation, marketing activities, and successful commercialization of new products and services.

INNOVATION
AND
COMMERCIALISATION

Table of Contents
INTRODUCTION...........................................................................................................................1
P.1. Explain innovation and determine its importance to organisation in comparison with
invention......................................................................................................................................1
P.2. Explain how organisation vision, leadership, culture and teamwork can shape innovation
and commercialisation................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
This assignment review about to innovation, which play an essential role in the
organisation in order to proper development of their existing product and services and keep P&G
and Heinz both organisation ahead in the race of the competition in the industry. Moreover, this
study review about the importance of vision, leadership, culture and teamwork which can
influence the organisational working environment in terms of shape them into innovation and
commercialisation effectively.
TASK 1
P.1. Explain innovation and determine its importance to organisation in comparison with
invention Innovation: Innovation is the process that furnishes some effective thoughts and
invention process by which efficient products as well as services could be generated
effectively and consumers will pay for it (Bastalich, 2010). Innovative idea must be in the
firm in which product and services can get economic cost plus satisfy consumers’ needs
sufficiently. Commercialisation: Commercialisation is the process in which an idea and innovative
product is set to be launched within the market effectively. This process involves several
activities like promotional, distribution, marketing plus sales and customer support
activities within the organisation in order to make commercialisation of innovation.
Innovation Invention
Innovation in P&G and Heinz define that
innovation occur where something technical
significant contribution has been made by
someone in existing product and services
effectively.
Innovation defines about to the method in
which something innovative values to be added
in existing product and services which could
satisfy each customers needs effectively.
Heinz introduce something new test of soups at
Invention on P&G and Heinz organisational
context define the process by which new
product and services to be introduced by the
companies which is totally fresh for the
customers.
Invention can invent something new product
and services within the market which no one
person had before it (Wonglimpiyarat, 2010).
P&G organisation also invent something new
juice drink, shampoo and feminine protection
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international market which is in proper
innovative form.
Innovation in Heinz and P&G companies
require helping of marketing processes and
strategical capabilities in order to
implementing proper innovation in both
companies (Larkins, 2011).
With the assistance of innovation P&G firm
wants to make improvement in its toothpaste
product which is totally different from its
competitors. Apart from this, in case of Heinz
business, the company wants to make
innovative backed beans, cheesy pasta bake
and lamb hot pot etc. according to customer
preferences
products so that which can satisfy their
customers needs efficiently.
Invention require developing research and
development by its scientist in their chemistry
lab to develop something inventive product and
services within the industry.
In P&G company, they want to create
something new inventive toothpaste called
crest by company's scientist effectively in
order to satisfy customers demand effectively.
In case of Heinz firm, it wants to create
something new products which fresh backed
bean cuisine with introducing in exiting market
and even possible to buy backed beans' pizza
as well.
In case of Heinz food company, Several kinds of food products being produced within
the organisation and serving to their customers effectively (Ram, 2010). The chef's in the kitchen
make often attend work shops in which they make innovative food products according to
customers preferred test. The making innovation in existing product also made by individual in
the organisation must be given proper encouragement and suggestions towards appropriate
changes within existing product and services which can help the organisation to increase their
sales and productivity more effectively. P&G and Heinz both organisation need to create positive
working climate at the workplace in order to improvement in making more conductive and
creative product and services efficiently.
M.1. Different sources of innovation
 Industry or market research are the major sources of innovation in both organisations by
which in foods and consumer good industry analysed and effective changes could be
implemented upon the firm by adding innovation in these processes.
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 Various demographical situation enforce the company to make necessary changes within
the organisation in order to proper development in their product and services which can
satisfy each customers needs properly (Teece, 2010).
 New knowledge-based idea can help the both companies to making effective changes
within their product and services by furnishing innovative new approaches in innovative
form which make cause of innovation in the business efficiently.
P.2. Explain how organisation vision, leadership, culture and teamwork can shape innovation and
commercialisation
Vision: In case of P&G and Heinz both organisation is using innovative and
commercialisation techniques at the workplace in order to make their product and services more
sufficient to satisfy each of their customer's needs effectively. Both organisations have their
separated goals and vision by which they make effort in order to proper development of these
areas in which they want to get success. Vision of both companies support the innovation in
sufficient manner which is Heinz company wants to create a positive and innovative
environment at the workplace which support them to get their vision of innovation efficiently
(Chua and Oh, 2012).
Leadership: Leadership of both company make effective support to innovation and
commercialisation for both companies in order to raise their sales in the market effectively.
Leader of P&G and Heniz both company need to make decision regarding to adding innovative
culture at the workplace (Sichelman, 2011). So their employees will become more creative and
execute some effective thoughts which can generate something innovative suggestion towards
proper changes in product and services of the organisation so that effective changes can be made
effectively within their existing product and services.
Culture: Human resource department of both companies wants to create linked among all
departments within the business in order to removing all the barriers and hold the people which
can generate something innovative ideas. Human resource department of both companies furnish
a positive environment at the workplace in which each of their employee can utilise of their
expertise, integrity and hunger to contribution on the new product development within the
organisation effectively in order to proper development of organisational product and services in
order shape them in proper innovation and commercialisation within the firm (Uppenberg and
Strauss, 2010). They support all promotional and advertising activities to their marketing experts
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by which they can effective promote their innovative product and process in existing markets
effectively and accomplish their desired goals and objectives in efficient form.
Team work: Team work play very vital role in order to sufficient running of their
operational activities within the organisation in efficient manner, employees and customers of
the both organisations are major key to make innovation in their product and services. As they
want to produce something innovative and unique product and services within the organisation in
efficient manner they need to formulate effective teamwork at the workplace. By which they can
manage difficult task effectively and efficiently solve them as well. Both the organisational
culture support them to work collaboratively and make use of help of each other and ask for
effective suggestion within the organisation effectively in order to proper development of their
product and services in terms to take shape of innovation (Schröder, Baaken and Korff, 2012).
Apart from it, marketing activities and other commercialisation activities also need highly
efficient teamwork in order to execute their team work condition in proper manner and make
promotion of their innovative product and process in various markets efficiently for increasing
their operation efficiently and implementation of relevant commercialisation of their existing
new product and services.
CONCLUSION
From the above analysis, it is concluded that innovation is most necessary part nowadays
in each organisation and in case of P&G and Heinz both firms need to implementation of
innovation in their product and process in order to increase efficiency of their operational level
and product and services as well. Proper commercialisation of innovative product and services
can effective introduce new product and services of both organisations in respect to increase their
sales and productivity.
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REFERENCES
Books and Journals
Bastalich, W., 2010. Knowledge economy and research innovation. Studies in Higher Education.
35. 7. pp. 845-857.
Chua, S. C. and Oh, T. H., 2012. Solar energy outlook in Malaysia. Renewable and Sustainable
Energy Reviews. 16. 1. pp. 564-574.
Larkins, F., 2011. Australian Higher Education Research Policies and Performance, 1987-2010.
Melbourne University Publishing.
Ram, J., 2010. The conceptual dimensions of innovation: a literature review.
Schröder, C., Baaken, T. and Korff, N., 2012. The Triangle for Innovation in knowledge transfer
and partnering at Münster University of Applied Sciences. Kassel: Kassel University
Press.
Sichelman, T., 2011. Taking Commercialisation Seriously.
Teece, D. J., 2010. Business models, business strategy and innovation. Long range planning. 43.
2-3. pp. 172-194.
Uppenberg, K. and Strauss, H., 2010. Innovation and productivity growth in the EU services
sector. Luxembourg: European Investment Bank.
Wonglimpiyarat, J., 2010. Innovation index and the innovative capacity of nations. Futures. 42.
3. pp. 247-253.
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