Innovation with a Small Business Context

This document explores the importance of innovation in a small business context and its impact on organizational success. It discusses organizational vision, leadership, culture, and teamwork in shaping innovation and commercialization. It also covers the 4 P's of innovation and the developments in frugal innovation. Additionally, it highlights the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialization of innovation.

INNOVATION WITH A SMALL
BUSINESS CONTEXT

Please put a good table of contents this is a photo and put number pages
Table of Contents
..........................................................................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
P1. Innovation and its importance for organisation compare with invention.............................4
(no citation , you relied too much on generic information, your work should aligned to
chosen organisation.....................................................................................................................4
P2. Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.......................................................................................................................5
P3.4 P's of innovation .................................................................................................................6
P4. Developments in frugal innovation.......................................................................................7
P5. The importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialization of innovation. .....................................9
P6. Build an Innovation Business Case for an organisation, including ways to access funding.
...................................................................................................................................................10
The business case for innovation..............................................................................................10
P7. The different tools that organisations can use to develop, retain and protect knowledge and
intellectual property..................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
The innovation and inventions means the introduction of new product in the market. The
product which is introduced in the market can be completely a new product or the product can be
an existing product which is renovated according to the needs and preferences of the customers.
Every company wants their products and services to rule the market, but the customer
preferences and the market strategies changes very frequently which can make the product old
and useless for its customers. In this, the companies do a market survey in which the current
situations of the market in context of customer’s needs are evaluated. Report will highlight
innovation and its importance for organization. (Wang, 2017)
You were required to provide some basic information about your chosen organsation
MAIN BODY
P1. Innovation and its importance for organisation compare with invention
(no citation , you relied too much on generic information, your work should aligned to
chosen organisation
INNOVATION INVENTIONS
Innovation is a value addition of a device,
product line or ideology through altering the
basis of delivering the higher value to
consumer & services in persistently for
innovating environment. It requires extensive
research and study and complex process.
Invention is an introduction of device, new
product line or ideology which is based on
experimentation and study. Where Chilly Ltd.
can get inventions registered by its own name
through virtue of a patent.(Thakur, 2018)
Chilly Ltd. needs to produce innovative
services. A fast innovation firm like Chilly can
have an edge in term of growth. Even smaller
scale companies like Chilly Ltd. can grow
through bounds and leaps.
Inventions can be defining as the development
of new products and selling them in market.
Then the society can't reap the profit of a such
theories.
Innovation attract talent. In Chilly Ltd. if the
talented people work, then they provide a
greater opportunity for the firm to success.
Invention can only be developed when Chilly
Ltd. have the innovative and creative aspects.
In this they also need to have better

organization structure. It has an unexpected
result, as inventions are always jumped into the
things that is unknown.
Needs variety of skills in innovation, before
going for any changes in existing line products,
Chilly Ltd. has analyzed profitability of the
product. This can also increase the growth of
firm. Organization hires highly skilled person
for an innovation.(Kirkegaard Sløk-Madsen,
Ritter and Sornn-Friese, 2017)
Invention can only be successful when there is
no similar product to its. In order to grow
Chilly Ltd. did come up with better products
known as Chilly bottles. It is only possible for
an invention to get produce at an excellent
result.
Innovation provides a technical advantage
where the constantly developing Chilly Ltd.
can have full access over a current technology
and therefore always able to have first mover
advantage and helps to deliver a value to
consumer.
It is building block for the innovation, where
the innovation often putting invention to use.
For implementing the invention, Chilly Ltd.
also needs to have effective talent. They need
to provide better training and development to
employees.
citation
P2. Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation
You are required to give brief intro in order to set the scene . Need definition on every single
vision ,leadership, culture ,teamwork and Organisational culture
VISION OF CHILLY LTD.
Vision means the ability to think and plan for the future so that the company can plan
accordingly. The vision of the Chilly Ltd. is to become most valued business by providing the
most efficient and better products. They will focus more on the quality of products. To achieve
the vision of the company, Chilly Ltd. is to provide people with the ability to always have cold
water on-the-go without having to buy single-use plastic water bottles to the customer and by
providing the valuable products which satisfy the customer and it is possible only by bringing
innovative products in the business market and making a good relation with a community. Chilly
Ltd.’s main aim is to become environmental friendly and remove the usage of plastic bottles.

Thus, the vision of the Chilly Ltd. It helps in the shaping of the innovation & commercialization
of the firm. No citation
LEADERSHIP
You are required to give brief intro in order to set the scene .
Leadership means the act of leadering a group of people by influencing them to follow
us. Chilly Ltd. uses the transformation leadership, as the leader work with a team to identify the
required changes and making the vision so that the leaders can guide workers and also orvide
them with better training and learning purposes. Where the transformation leadership can serve
and enhance the morale and motivation job performance of the employees through various
mechanisms. Leaders of Chilly Ltd. can understand the strength and weakness of the employees
that allow leader to align its followers with objective and can enhance the performance of the
followers. Likewise, it guides the employees towards the right path and by motivate the
followers to achieve the goal of the organization. (Song, 2016) (.no citation)
CULTURE definition
Organizational culture
Organizational culture means the social behaviors and values that contribute to the
environment of the organisation. Chilly Ltd. has innovative culture where it brings the innovative
ideas in the work environment and try to keep on changing the culture of the organisation. Every
time it brings new concept in the workplace through this, it helps the employees to understand
the new concept and help them to improve the skill or talent of the employee, which is very
beneficial for the organisation. Hence, the innovative culture of the Chilly Ltd. can help in shape
the innovation and increase the commercialization
TEAMWORK
Team work can be developed in Chilly Ltd. by making use of Belbin Team development theory.
In this there are various people which can make use the resources effectively. This will help
Team in growing and making it better while working in collaboration. Commercialization means
the process of doing the work so that they have a financial gain. I cannot see some good
evidences where learner has justified all the key contents., concept of cmmercialtion in lacking
here
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P3.4 P's of innovation
PRODUCT INNOVATION definition of all 4
Product can be defined as any tangible or intangible goods or services which the
company provide to satisfy the demand of the customers. The innovation of Chilly Ltd. is to
make a product which removes the use of plastic therefore they have developed a new product
known as Chilly bottle, in which the company has tried to use high performance technology and
eco-friendly benefits of a traditional flask which has zero use of plastic. Since Chilly Ltd. is a
small company, it has adopted frugal innovation for product like that of Chilly bottle which
include low cost of doing things with greater benefits.
PROCESS INNOVATION
Process innovation means inventing new way of doing the work. Chilly Ltd. have very
exciting biodegradable alternative available to make their new product Chilly bottles from red
algae. This was being introduced in 2016, while more work is needed to make the bottles, they
are very much safe for the environment and don't have any impact as it does not have any taste or
chemical and is disposable when not in use. This was done to improve the health and fitness of
the people of the country. The company can use the annual tender process with the suppliers of
their product.
POSITION INNOVATION
Position innovation is the change in the context in which the products/services are
introduced. Since Chilly Ltd. is a small company the market position it holds is not too strong.
The target of the company must be to keep the prices of the products as low as possible so that
customers who are not wealthier can also purchase the products from Chilly Ltd. But the
company must keep in mind that customers do not think that the products sold to them are cheap
so are of poor quality. (Stankosky and Baldanza, 2018)
PARADIGM INNOVATION
Paradigm innovation, in particular, is the change in the underlying mental models which
frame what the organisation does. The paradigm innovation of Chilly Ltd. includes the adoption
of modern and stylish product designed to combine the convenience of a plastic water bottle
which other firms were adopting. The company can provide their customers with the online
facility of ordering the products of their choices which will be delivered within the specific time
mentioned while making an order.

P4. Developments in frugal innovation
Illustration 1: Innovation funnel
(Source: Innovation funnel, 2018)
No Source with the diagram Frugal innovation attempts to reduce the complexities and
costs of goods and its essential products, this mainly includes removing unnecessary tasks and
unessential features of the product so that it can be sold in developing countries.
Engage and Iterate
The new research and development show that old techniques of doing the surveys and
researchers are time consuming and they are providing the inaccurate data to the companies.
They were alienating the customers and caused excess of environmental waste in the country.
The Chilly Ltd. customers used many initiatives through which the environmental waste can be
reduced.(Servoss, 2017) The can do a survey on the purchasing of the customers that the
products purchased by these customers are for their personal home use or they are purchasing it
for any other use. The environmental waste depends a lot on the purchasing behaviour of the
customers.
Flex your Assets
The distribution system of the supply chain is effected by the changes made in the
quantity of assets of the company. Chilly Ltd can use new materials used in the supply chain, the
manufacturing tools which will affect the process of delivering the goods and improve the

distributions and procurement and reduced the supply demand gap in the supply chain of the
Chilly Ltd. The company can make the assets fixed for the suppliers of their company. They
were no frequent changes made in the raw materials provided by the company to the suppliers.
Create Sustainable Solution
The environmental sustainability is no more an optional CSR activity for the companies
of the economy. Chilly Ltd. has adopted this as challenge and made innovations in the products
sold. The consumers are now demanding for the eco-friendly products and accountabilities from
the Chilly Ltd. The company is making an effort towards reducing the environmental waste by
providing the Chilly bottle which do not contain plastic. The use of plastic is completely
removed by the Chilly Ltd.(Rasmussen and Eliason, 2017)
Shape Customer Behaviours
Chilly Ltd. tried to change the behaviours of their customers by making them aware about
the environmental issues and global warming. Many initiatives are being made by company to
generate this awareness. The company can write slogans and quotations on Chilly bottles to
generate awareness. At bill counters the consumers can be provided with better experiences so
that they are able to grow. Chilly Ltd can also engage their customers to live a sustainable living
in the economy. This can be done by motivating them towards developing a social responsibility
towards the nature.
P5. The importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialization of innovation.
The concept of commercial funnels is important because it's a useful model for visualizing
the customer journey from initial awareness all the way through conversion.(Gebhardt, 2017)
Commercialization of innovation definition and a diagram
New product development (NPD) Definition and apply in organisation
Commercialization of innovation is the process of converting the ideas and research of the
organisation into feasible product is known as commercialization of innovation.

New product development means the process of bringing a new product in the market. In the
case of Chilly Ltd. The NPD of the organisation is there new Chilly bottles.
Awareness
The company should try to make their customers more aware about the products they are
purchasing. The company wants to keep everything clear in the front of their customers, so they
suggest them to first read and understand all the policies of the company and its products, this
will help Chilly Ltd. in making their customers aware about the Chilly bottles. Awareness related
to invention can be. This will promote the idea of Chilly Ltd about their new bottles. Chilly Ltd.
wants their customers to not pay for anything which is not of their use.
Interest
Chilly Ltd. potential customers will always be interested in the company’s business and
they are more curious to know more about the company.(Dutta and Folta, 2016) The company
can make them any offer so that they can also participate in the activities and can give their
suggestions and feedbacks for the successful running of the business.
Decision
In this, the market is fully dependent on the customers. It is the decision of the customer
that whom they choose to purchase the product. Every company have their competitors in the
market and so does Chilly Ltd. The customers have many choices to choose the best product for
them. So, the Chilly Ltd. should make a strategy to keep the customers stick to their product
only, the loyalty of the Chilly Ltd. customers should be very strong i.e., so that there will be less
chance that they will shift from Chilly Ltd. to other competitors.
Illustration 2: Commercialization of innovation
Source:(Commercialization of Innovation, 2018 )

P6. Build an Innovation Business Case for an organisation, including ways to access
funding.
The business case for innovation
Aproaches to innovation
There are a variety of approaches for innovating a new product, these approaches may include
new ideas, research and development, market analysis of customer need etc. (Dutta and Folta,
2016)
Planning innovation
Innovation planning is the process of thinking and organizing the activities required to achieve
your desired innovation objectives.
Encourage innovation in your business
Innovation will add value to the product line or ideology through altering the basis of delivering
the higher value to consumer & services in persistently for innovating environment. Therefore,
Chilly Ltd. will need to encourage continuous innovation.
Funding innovation
Funding innovation means using the traditional way of raising fund to finance the innovation of
the organisation.
EXECUTIVE SUMMARY
This is an innovation business case for Chilly Ltd. company. In this it will describe that a
new renewable bottle has been launched in the market. This will help business in growing. It will
also help firm in establishing their business market. It will also help them in achieving business
objectives. They have introduced their own Chilly bottles to achieve this aim.(Datta, Mukherjee
and Jessup, 2015)
COMPANY OVERVIEW
The company was founded by James Butterfield and Tim Bouscarle, in the year 2010
with an aim of working mainly with sustainable development. The company started with their
product the Chilly bottles and started growing into other everyday reusable products. Though the
company is facing a tough competition, the company is continuing to develop new product to
maintain their position in the market.

PRODUCT AND SERVICES
The product with which the Chilly Ltd. was introduced is the Chilly bottles, they are now
trying to expand these reusable products into more household product so that there is less harm
to the environment. The company aim to do this through creating products for an active urban
lifestyle, with the perfect balance of distinctive style and unrivalled performance.
SWOT
The main strength is that the company is using environmental strategies to make their
products so the environmental conscious customers will be attracted, the weakness of the firm is
that they are a small firm and people may not believe in their quality. The opportunities for the
firm is that they can advertise the environmental friendly product as the environment is
degrading so much the customer will attract to such products, the threat include the competition
faced by them is aggressive and might degrade their profits.(Liu, 2016)
4 P's OF MARKETING
Product – the new product of the company is Chilly bottles which is an environmental
friendly product.
Price - the price set should be in accordance with the competitors as they cannot charge
high prices as they are a small firm
Place – the company can distribute their product through retail stores.
Promotion – the company can advertise keeping in mind about their environmental
friendly product and focus their advertisement toward that only. (Chun, 2015)
WAYS OF FUNDING
Small organisation like that of Chilly Ltd can focus on arranging their funds from venture
capitalist, angel investment etc., as they will have problem acquiring finance through banks and
other financial institutions.
P7. The different tools that organisations can use to develop, retain and protect knowledge
and intellectual property
MORE
The tools used by the Chilly Ltd in the development of their organisation are as follows:
 The making of the purpose for which they are doing the businesses.
 Making a mission for which they are working.(Lipkova and Braga, 2016)

 Setting goals and targets which has to be achievedby the employees working in the
organization.
 Making different strategies by which they can achieve growth and success in the market.
 Making different policies and procedures which has to be followed by the company and
its employees
The tools used in the retaining and protecting the knowledge by Chilly Ltd were as follows:
 Developing a positive organizational culture in the organization. The company is working
as a multinational company, so the working conditions of the employees were very nice.
 The employees were also playing the role of a mentor who will be doing training and
development session for the new employees. The workplace collaboration was there in
Chilly Ltd where all the employees were working in team so that they can achieve the
success fast.
 A proper documentation of the information of the company were recorded and it was kept
as a secrete for the other employees.
 The team leaders were conducting time to time meetings for the employees, shareholders
and stakeholders of the company. These meetings make a proper connection between the
workers and their mentors. A strong way of communication is made between the
employees.
The tools used in intellectual property of the Chilly Ltd were as follows:
 All the rights and policies of the company were reserved. They were having a proper
copyright of all the ideas, innovations and products launched by the company.
 The company was having patent to protect their inventions and to renovate more in the
products and services provided by them.
 The company was having its own designed trademark on all the products they were
selling. Chilly Ltd. trademark is different from the other company’s trademark and no
other company is allowed to copy that trademark.(Ahmad, 2019)
CONCLUSION
From the above report it has been summarised that innovations and technologies made in the
Chilly Ltd. The difference between the innovations and interventions done by the company are
explained thoroughly. The innovation was considered as the most important part for the moving
of the business and invention was considered to be important for providing funds and capital to

the company. The importance of vision, culture, leadership and teamwork in the innovation of
the company plays a very major role. These factors must have a clear and high techniques. The 4
P's of innovation plays a very major role in the making Tesco different from other companies. As
the innovations are important, a frugal innovation which makes a different identity of the
company in the market. The application of new product launch and commercial funnel is very
important to make the sale of the company very high. There were many ways by which the
funding was made to the company. These funding were helpful for the development of the
organisation. The tools used for the development of the organisation, retaining and protecting
knowledge and intellectual property are described in the report.
Your work does not fulfil the required criteria . I am afraid you will not cross the fence.
MORE REFERENCES AND CITATION WHICH NEED TO BE THE SAME WITH
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Online
Innovation funnel. 2018[online] Available through:
<https://www.toolshero.com/innovation/innovation-funnel/>

Commercialization of innovation 2018[online] Available
through:<http://www.frehnerjens.com/commercialization/>