Innovation and Commercialisation
Explain the importance of innovation and commercialisation in organizations, and how organizational vision, leadership, culture, and teamwork shape innovation and commercialisation.
17 Pages4754 Words76 Views
Added on 2023-01-10
About This Document
This report explores the concepts of innovation and commercialisation and their importance in organizations. It discusses the differences between innovation and invention and the significance of innovation in satisfying customer needs and gaining a competitive advantage. The report also examines how organizational vision, leadership, culture, and teamwork can shape innovation and commercialisation. Additionally, it explains the 4Ps of innovation and the use of the innovation funnel to examine and shape innovative ideas. The developments in frugal innovation and its application in an organizational context are also discussed.
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