Innovation and Commercialization - Hakim Group

Innovation and
Commercialization

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK1.............................................................................................................................................3
P1..................................................................................................................................................3
TASK2.............................................................................................................................................7
P3..................................................................................................................................................7
P4..................................................................................................................................................8
TASK3...........................................................................................................................................10
P5................................................................................................................................................10
P6................................................................................................................................................11
TASK4...........................................................................................................................................14
P7................................................................................................................................................14
CONCLUSIONS............................................................................................................................14
REFERENCES..............................................................................................................................16
.......................................................................................................................................................17

INTRODUCTION
In modern era, the primary concern of every company is to refocus on their growth and
innovation strategy. It has been analyzed that around 83% of executive state consider innovation,
an important part for growth strategy for an organization. The purpose of this assignment is to
give brief about the impact of the innovation and its importance to the workers of Hakim Group.
Hakim Group is one of the small and middle enterprises with the intention to embed innovation
and commercialization in the organization culture over the next 12 months. In addition to this
information is being collected in context of 4 Ps innovation, commercial funnel innovation
funnel, and frugal innovation. Beside this it gives the brief about the tools required for
developing and retaining intellectual property of worker within Hakim Group. Lastly, this file
present about how organizational vision, leadership, culture and teamwork can shape innovation
and commercialization.
TASK1
P1
Hakim Group which was established in 2001 is known as a portfolio brand which
specifically signifies the interest group business. (Birkeland, J., 2012). This business mainly
deals with optical industry and focuses on providing required opportunity for Optometry
practices. They also provide investment opportunity to the people who desire to open up their
personal eye care centre. For both recognized organizations as well as new organizations
innovation become significant in energetic, changing surroundings. When an organization fails
to innovate and change as required, by its clients, workers and the community at large can all
suffer. There are basically three types of innovation:-
 Technical,
 Process, and
 Administration
Technical innovation involves formation of new goods and services. Many technical
innovations occur through investigation and expansion efforts projected to satisfy challenging
customers who are always looking for, new, better, faster and cheaper products and services.
Process innovation involves creating a new technique of generating, promoting or
distributing an accessible goods and service.