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Innovation and Commercialisation - Team Work

   

Added on  2021-02-18

12 Pages3901 Words22 Views
INNOVATION ANDCOMMERCIALISATION

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Defining innovation ad its importance to employees of the organisation in comparison withinvention .....................................................................................................................................1P2 explain to employees that organisation vision, leadership culture and teamwork can shapeinnovation and commercialisation..............................................................................................2TASK 2 ..........................................................................................................................................3P3 4 p's of innovation and use of the innovation funnel to examine and shape innovative ideasto employee'................................................................................................................................3P4 explaining how the organisation can develop frugal innovation .........................................5TASK 3............................................................................................................................................5P5 importance of the commercial funnel and application of new product developmentprocessing for commercialisation to employees.........................................................................5P6 Building an Innovation Business Case for an organisation, including ways to accessfunding........................................................................................................................................6TASK 4............................................................................................................................................7P7 different tools that are chosen by organisation can use to develop , retain and protectknowledge and intellectual property ..........................................................................................7CONCLUSION .............................................................................................................................8REFERENCES................................................................................................................................1

INTRODUCTIONInnovation has important role in business . By improving existing product firm can makeit more interesting and earn profit through it. Four p of innovation are used in organisation sothat it will attract people more. Innovation funnel model is used in this because they want thatoverall cost can be controlled. By developing frugal innovation in organisation various benefitsare gained . The leadership , cultural and team work can help the entity. TASK 1P1. Defining innovation and its importance to employees of the organisation in comparison withinvention It is making a new idea. It can be used in products, process, services, and technologies.This is done to impress the consumers because is on who needs some change from regularproduct. It also refers to originality of product. It is applying practical implementation ofinvention. It shows creativity of employees. Invention means first time creating of product withall new features and innovation define as making improvement in existing product. Innovationfor employees in qubic hotel is very important. It is necessary to both; employee as well asemployee. Employees are main part of business and without them, nothing can be done. Doingregular work again is so boring. For taking advantage from your competitor innovation is must.It is just making changes in product. Business working can b same but what makes it differentfrom other is their human resource. Person have diverse mind and from that they can doanything. Innovation is needed by employee and employer. Some of them points are given belowWorking equipment and technology – most of the times company is doing business withthe outdated or old technology and employees need advanced machines to work with.For fulfilling the targets, employees need to make sure that they are working with thecurrent equipment(Hausman and Johnston, 2014). By making changes in this also,employees feel that they are doing something new. If any idea to make changes in theproduct comes to the mind of workers and technology is not appropriate then they willfeel demotivated.Company workspace – working areas can be made more interesting by applying morepicture or positive thoughts which will feel them more motivated as well encouraged. Itcould be rearranged again or their setting can be changed after regular intervals. By this1

employee's environment are changed and then in that case their mind will work more.The generation of new ideas will increasing day by day.Work procedure – Change in the process of working can make employees work harder.By changing the environment, ideas can come to their mind and help in business.Changes can be made in product's packaging, labelling, additional features are added.This also shows the innovation. Employees need peaceful environment otherwise tthis,they are bored by doing regular work and want some change in the working.Business communication – There must be 2 way communication. Proper communicationprevents from misunderstanding. If proper information flow is there then reduction inconflict and workers can work in the peaceful environment. All conditions are good thenchances of new ideas generation are more(Meng and et.al, 2016). The Qubic hotel of UKis following all the above factors that help in making innovation.P2. The way organisational vision, leadership culture and teamwork can shape innovation andcommercialisationThe Qbic hotel vision is to mark its performance in eyes of world and profit can be morethan previous year. The company has decided future goals and make it true the employees areneed to work hard. Through this both entity and employees goals are fulfilled. There personaland firms objectives are met at one point. It will help the workers to enhance their skills andlearn new things. Understanding the workers that if company will grow, then only they can grow.Company is earning profit because of them and after that profit are distributed to them. All thefacilities are provided to employees and any problem comes than discuss to the immediatesenior. Different culture persons work in company and have their own beliefs. By respecting andvaluing they can feel them more privileged.Employees are treated equally. No one is better than other. After giving training to themtheir performance is decided and no one will judge on the any other basis. Diverse personalityhas different ideas in their mind and that can help the organisation to earn more. Number ofemployees give different ideas, the more ideas are there can give you the chances of innovation.By making the changes in product the consumers are impressed. Team work can help theworkers a lot. If employees need any support or guidance from fellow employees then it can bemore helpful. It devised work in fragments and from this decrease in work load can make workeasier. Smaller the work, from perfection it is done(Brown, Gregson and Mason, 2016). Quality2

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