Innovation and Commercialization: A Case Study of Healthy Juice Company

This assignment explores the importance of innovation and commercialization for a healthy juice company, 'Healthy Juice,' founded by Daniel Green. The case study analyzes the company's challenges in a competitive market and explores strategies for achieving success through innovation. The paper examines various aspects of innovation, including its definition, sources, and the role of leadership, culture, and teamwork in fostering an innovative environment. It also delves into the 4Ps of innovation, the use of the innovation funnel, and the importance of frugal innovation. The assignment further explores the commercial funnel, new product development, and the development of a business case for innovation. Finally, the paper evaluates different intellectual property tools that can be used by Healthy Juice Company to protect its innovations.

INNOVATION AND COMMERCIALIZATION
HEALTHY JUICE COMPANY – DANIEL GREEN

CONTENTS
INTRODUCTION................................................................................................................................3
TASK 1..............................................................................................................................................4
P1 DEFINING INNOVATION AND IMPORTANCE OF INNOVATION FOR HEALTHY JUICE
COMPANY..............................................................................................................................................4
P2 ANALYSING HOW ORGANISATION VISION, LEADERSHIP, CULTURE AND TEAMWORK CAN
SHAPE INNOVATION AND COMMERCIALIZATION FOR THE HEALTHY JUICE COMPANY..............5
M1 ANALYSING DIFFERENT SOURCES OF INNOVATION AND HOW HEALTHY JUICE COMPANY
CAN FOSTER AND DEVELOP AND ENVIRONMENT OF CULTURE AND INNOVATION....................6
TASK 2..............................................................................................................................................8
P3 4P’S OF INNOVATION AND USE OF INNOVATION FUNNEL FOR THE HEALTHY JUICE
COMPANY..............................................................................................................................................8
P4 & M2 DEVELOPMENT IN FRUGAL INNOVATION AND ITS IMPORTANCE FOR HEALTHY JUICE
COMPANY............................................................................................................................................10
M3 EVALUATING THE ROLE OF FRUGAL INNOVATION FOR HEALTHY JUICE COMPANY............11
TASK 3............................................................................................................................................12
P5 COMMERCIAL FUNNEL’S IMPORTANCE AND NEW PRODUCT DEVELOPMENT.....................12
P6 & M4 INNOVATION BUSINESS CASE AND WAYS OF ACCESS FUNDING..................................14
TASK 4............................................................................................................................................17
P7 EVALUATING DIFFERENT TOOLS OF INTELLECTUAL PROPERTY THAT CAN BE USED BY
HEALTHY JUICE COMPANY.................................................................................................................17
M5 EVIDENCE-BASED EVALUATION OF INTELLECTUAL PROPERTY TOOLS FOR HEALTHY JUICE
COMPANY............................................................................................................................................18
CONCLUSION.................................................................................................................................19
REFERENCES...................................................................................................................................20

INTRODUCTION
An organization needs to constantly innovate in order to achieve success in the future.
Innovation in the commercial world is all about making things better in terms of product and
services being offered to the customers. Innovation is essential for the small or big organization
in order to compete with their competitors in the fast-paced environment. In this assignment, a
case study of Mr Daniel Green and his company ‘Healthy Juice’ will be considered as an example
for conducting a detailed evaluation for the topic innovation and commercialization in the
business environment.
Mr Daniel Green was the founder of the company healthy Juice Company and launched the
company with one drink that is a healthy milkshake and a dramatic rise in sales was seen for this
company for one financial year. But later when the company entered into the third year the sale
got decreased because of the number of competitors in the market. The main reason for the
decline of sales was that Mr Daniel did not want to shift from the juice idea and as a result,
other competitors achieved success as they offered diversified products to the consumers. In
this assignment, the importance of innovation and invention for the business will be briefly
explained. The steps that need to be taken by Mr Daniel Green for achieving success in his
business will be explained with suitable examples and theoretical explanations.

TASK 1
P1 DEFINING INNOVATION AND IMPORTANCE OF INNOVATION FOR HEALTHY JUICE
COMPANY
INNOVATION
Innovation refers to introducing something new in terms of product or service by converting
ideas into numbers. The term innovation may be referred to as implementing new ideas for
developing a product or service (Kline and Rosenberg, 2010). The main purpose of innovation is
to solve a problem through rearrangement, recasting, reconstructing and reorganizing so that
the solution derived is something new and is in the form of a product, method or an idea. There
are many forms of innovation such as product innovation, process innovation, marketing
innovation, organizational innovation etc.
IMPORTANCE OF INNOVATION
Innovation is important for sustaining the business competitiveness and improving the
productivity and operations of the company. Innovation is essential for the economic growth by
meeting the challenges of the rapidly changing market and to remain competitive in the long
run. Innovation helps in improving the quality of products and services offered to the
consumers by the businesses (Kline and Rosenberg, 2010). It helps in meeting the demand of
the consumers by making changes in the product thereby meeting buyer’s standards and
requirements. Innovation is also important because it will allow the businesses like the Healthy
Juice Company to adapt to change in terms of market conditions, technological advancements
and changes in the external business environment.
INVENTION
The invention is referred to as formation of new ideas for developing a new product or process.
The invention takes place when an idea comes to mind for developing a product and those
ideas turn into action and produce real commercial products (Teece, 2010). An inventor has

creative abilities for inventing something which could either be a product or service in which he
uses process, methods or certain concepts.
COMMERCIALIZATION
It refers to a phase or an activity for making product readily available to the customers in the
market. The product that is launched into the market is supported by marketing activities to
describe the product to the customers as an ongoing process (Teece, 2010).
DIFFERENCE BETWEEN INNOVATION AND INVENTION
INNOVATION INVENTION
It is the process of turning an idea into action
for developing product and services.
It refers to the creation of new products or
services that previously did not exist
Innovation is about changing a process or an
activity for gaining competitive advantage.
The invention is discovering something new
that the world di not new before.
The innovator uses defined strategies,
management principles and ideas for bringing
change in the existing products for developing
new products.
An inventor uses scientific skills for innovating
something.
In innovation, changes are made in existing
products for developing new products for
meeting the demands of the consumers.
In the invention, a whole new product gets
developed that did not exist ever before.
(Westley and Antadze, 2010)
P2 ANALYSING HOW ORGANISATION VISION, LEADERSHIP, CULTURE AND TEAMWORK CAN
SHAPE INNOVATION AND COMMERCIALIZATION FOR THE HEALTHY JUICE COMPANY
ORGANIZATION VISION
The prime goal and vision of the Healthy Juice Company are to provide a quality product to the
customers by providing high-class services so that company achieves its vision and long-term
objectives (Kohles, et al. 2012). Having a vision is essential for the Healthy juice company as
without having a vision the members of the organization do not get direction for heading in an

appropriate direction in which employees can achieve their personal as well as professional
goals. It depends on the leader of the organization whether to follow the vision and do not
apply innovation or to implement both principles in the business. Some big companies do not
innovate rather follow only specific strategies for moving ahead in the industry whereas there
are leaders who are truly innovative and strive to innovate while keeping company’s vision into
perspective (Kohles, et al. 2012). This drives to the conclusion that having a vision is essential
for Healthy Juice Company along with being innovative so as to sustain in the market
environment.
LEADERSHIP
The leaders of an organization like the Healthy Juice Company must use various leadership
techniques for motivating their employees so that they produce creative ideas for developing
new products and services (Bryman, 2013). A leader should be dynamic and should have good
communication and management skills as well so that employees are always motivated and
constantly think for being innovative in their day to day activities. If employees would share
ideas with the leader then a company can think of developing something new for its products
and services thereby giving a competitive advantage to the business.
CULTURE
An organization determines the value and shared vision between the employees and leaders of
the organization. Culture also determines the Psychological environment, belief, expectations
and interactions with the outside world (DUDEN, 2011). It is very essential for the healthy juice
company to bring innovation into the culture of the organization. Innovative culture will make
employees more creative in their day to day activities which would help them bring innovation
in the business. The best way is to analyze the skills of employees and provide the resources for
bringing innovation in the products or services. The leaders of the organization can also
organize various workshops for educating employees as to how to innovate through shared
vision, ideas, purpose and strategy (DUDEN, 2011).
TEAMWORK

The innovative ideas come from different people through the exchange of ideas. In fact, all
organization believe in innovation but the challenge lies in bringing the team together having
different values and beliefs in a spirit of collaboration for supporting innovation (West, 2012).
When teams work in collaboration then ideas are shared and issues are solved more effectively.
It also helps the teammates to share innovative ideas with each other that help companies to
convert these ideas into new product development.
M1 ANALYSING DIFFERENT SOURCES OF INNOVATION AND HOW HEALTHY JUICE COMPANY
CAN FOSTER AND DEVELOP AND ENVIRONMENT OF CULTURE AND INNOVATION
SOURCES OF INNOVATION
 The unexpected: The marketplace is an area where a businessman can look for
unexpected opportunities. A good manager of an organization should constantly look for
opportunities in the market like understanding consumer purchase behaviours, their
taste for a particular product etc. (West and Bogers, 2014).
 Incongruity: The best way to deal with congruity is to analyze the needs of the
customers and act accordingly. This strategy will help business to ensure long-term
growth and sustainability.
 Process need: It refers to analyzing your company’s process of operation and finding
weak spots for redesigning and correcting them.
 Industry and Market structure change: With the advent of rapidly changing
technologies the market structure tends to change in a way how consumers shop both
online and offline (West and Bogers, 2014). The best way is to adapt to changing
technologies and implement it into the products and services for remaining competitive
in the market.
 Demographics: The income level of people changes due to change in taxation and
policies of the government. These changes need attention by the business owners so
that companies lower down the prices of goods due to rise in inflation.
 Changes in meaning, perception and mood: The demand for the consumer’s changes
with time as change can be seen in people’s perception towards things and lifestyle

changes. Moreover, there is a generation gap and this gap affects the industries in a way
they develop new products for the consumers.
 New Knowledge: Changes and development in technologies bring opportunities for the
business owners such as the use of the Internet is creating ever-increasing opportunities
for the industrialists (West and Bogers, 2014). The best way is to utilize proper
knowledge for bringing innovation in the products and services thereby gaining
competitive advantage in the business.
WAYS FOR DEVELOPING AN ENVIRONMENT OF CULTURE AND INNOVATION FOR THE
HEALTHY JUICE COMPANY
In order to develop an environment of culture, the business owners need to educate the
employees of the company about the importance of innovation in products for remaining
competitive in the market (Büschgens, et al. 2013). The leaders should organize various events,
seminars and induction programs for employees about the ways for innovation and how to
develop new products and services for the consumers.

TASK 2
P3 4P’S OF INNOVATION AND USE OF INNOVATION FUNNEL FOR THE HEALTHY JUICE
COMPANY
4P’S OF INNOVATION
Product
It is essential for the Healthy juice company to offer diversified products to its customers for
staying a step ahead of its competitors. Along with milkshakes company should also offer some
other products like beverages, health drinks etc. so that wide range of customers can use
company's products (Anderson, 2013).
Process
A company should bring changes in the way it carries out its processes for facilitating the
customers. For example, employees should develop innovative strategies for greeting the
customers, providing them coupons, offers in the product and services etc. so that customers
keep coming back for purchasing the company’s products and services (Anderson, 2013).
Position
There are many positioning strategies that can be used by the healthy juice company such as
pricing strategy, product consumption, competitors etc. For example, it is essential to analyze
the consumer purchasing power for a product and set the price of product accordingly. Another
example could be to identify the products offered by the competitors for instance if a
competitor offers juice drinks then healthy juice company may offer drinks with breakfast
options (Anderson, 2013).
Paradigm
Paradigm is a strategy in which small firms use innovative ideas for strengthening their
organizational structure. This strategy urges businessman to make all possible changes that can

generate profit for the company. For example, healthy juice company may bring changes in its
product quality, services etc (Anderson, 2013).
Figure 1: 4P's of Innovation
Source:[http://knowledge-innovation.purot.net/dimensions-%20of-innovation]
USE OF INNOVATION FUNNEL FOR HEALTHY JUICE COMPANY
An innovation funnel is used for describing the steps involved in developing a new product or
process. The main purpose of innovation is to meet the demands of the consumers across all
stages of product development (Vanhaverbeke, 2013). The development process mainly
consists of three stages. In the initial stage innovative ideas are collected and put into the
refining process and in the second stage, the refined idea is put under screening process in
which ideas are matched with the goals and objectives. If it gets matched then an assessment is
carried out for analyzing the risk and testing the product. After testing the product is finally
released into the market (Vanhaverbeke, 2013).

Figure 2: Innovation Funnel
Source:[https://www.sketchbubble.com/en/presentation-innovation-funnel.html]
P4 & M2 DEVELOPMENT IN FRUGAL INNOVATION AND ITS IMPORTANCE FOR HEALTHY JUICE
COMPANY
Frugal innovation is a term used by various industry experts and is described as a concept that
urges businessmen to respond to a limitation of resources like financial, material institutional
etc (Zeschky, et al. 2011). It also enables businessmen to form effective strategies for
minimizing the resource consumption but not affecting the quality of the production and
operation processes. For example, a company can reduce the price of its products but not
compromising on the quality and functionality of the product (Zeschky, et al. 2011).
Frugal innovation is important for the healthy juice company in numerous ways and it helps the
company to emphasize on good quality solutions for the product and services. Frugal innovation
can be achieved by changing product design features, using technology for delivering low-cost

solution etc. Frugal innovation promoted sustainable development by developing
environmentally friendly products and services (Zeschky, et al. 2011).
Figure 3: Frugal Innovation
Source:[https://www.capgemini.com/consulting/2016/06/the-frugal-side-of-customer-
experience/]
M3 EVALUATING THE ROLE OF FRUGAL INNOVATION FOR HEALTHY JUICE COMPANY
The principles of frugal innovation can be applied in context for the healthy juice company. It
can be used for developing frugal products which are environmentally friendly thereby
attracting more and more customers for purchasing company’s products and services. If the
company makes use of technological platforms then the company can reduce cost and provide
better customer service to the customers (Zeschky, et al. 2011). The company can also cater to
changing economies where the demand for frugal innovative products is high such as
developing countries. Use of frugal innovation could also be disadvantageous for the Healthy
juice company as the company is too small and offering frugal products to the customers may
not generate huge profit margins for the company (Bhutto and Vyas, 2017). The frugal products
are catered to the growing economies where the profit margin is low due to low disposable
income of the people.

TASK 3
P5 COMMERCIAL FUNNEL’S IMPORTANCE AND NEW PRODUCT DEVELOPMENT
The commercial funnel is also known as revenue funnel and it describes the sales process from
initial stage till final stage. The commercial funnel consists of four stages; the first stage is about
raising awareness about the company’s product and services among the customers which
requires various marketing activities like advertisement etc (Riehle, 2012). After the
promotional activities, the prospective customers will be contacted through an online medium
like the internet and their need for a product will be taken into consideration. This phase would
require regular follow up with the customers and finally the products will be sold to the
customers. The commercial funnel is very important as it helps the company in assessing the
needs of the customers through market surveys and collecting consumer's feedback that helps
the company informing strategies for its products and services (Riehle, 2012).
Figure 4: Commercial Funnel
Source:[http://www.troyhollenbeck.com/how-to-create-a-winning-million-dollar-sales-
funnel/]

NEW PRODUCT DEVELOPMENT (NPD)
The new product development process is essential in order to stay successful in the face of
maturing products. Thousands of new products enter the market but only those products
survive which meet the demands of the consumers (Hoyer, et al 2010). The NPD consists of 8
stages in which the first stage is the idea generation in which a company generates thousands of
ideas for developing a new product, the next step is the product development process or idea
screening in which company takes those ideas which meet the objectives and drops down ideas
which do not match the objectives, the ideas selected are turned into profitable products for
the company. In the next stage the ideas are developed into the product concept and then the
product is developed and tested applying various marketing strategies and then the product is
finally released into the market for the customers.
Figure 5: Stages in New Product Development
Source:[https://marketing-insider.eu/new-product-development-process/]

P6 & M4 INNOVATION BUSINESS CASE AND WAYS OF ACCESS FUNDING
INNOVATION BUSINESS CASE
A business case for innovating new products for the Healthy juice company could be
documented that provides the grounds for developing which is new for the company. A
business case encapsulated well-structured arguments in terms of product proponents as to
whether the new product will meet the demands of the consumers (Charles, et al. 2017). The
business case stages are described below.
 Accessing the needs of the consumers / Strategic Fit: The product developers can use
the business case document for identifying how their product can meet the demands of
the customers.
 Finding Markets / Evaluation: The business case document should identify the potential
customers as to who they are, what are their needs and how much they can spend on
purchasing a product (Charles, et al. 2017).
 Determining cost and profit: The business case should also determine the cost required
for developing the new product such as incremental cost, maintenance cost etc. The
profit to be made from the product also needs to be determined by the business case.
 Implementing Strategies: The new product that needs to be developed may require
huge taskforce and high startup costs. Effective resource allocation requires a strategy
and the business case document must include strategic proposals, timeline, and
resource estimates for production planning (Charles, et al. 2017).
 Management and Capacity: At last the management takes decisions by analyzing the
business plan for product development and analyses the management capacity and
investment potential for developing a new product and goes into execution process.

Figure 6: Business Case for new product development
Source: [https://www.sharedynamics.com/blog/how-can-you-visualize-your-presentation-of-
a-business-case]

WAYS FOR ACCESS FUNDING
There are many ways for getting funds for setting up a startup business. Some of the easiest
ways for collecting funds are described below.
Bank Loan
A small business can apply for a bank loan and money received from the bank can be used for
setting up the business and improving the infrastructure facilities. The bank provides loan on
debt and at interest rates for a period of time (Demiroglu and James, 2010).
Partnership
The healthy juice company can also partner with a big alliance for getting funds. In partnership
funding, both companies can utilize the resources of either company so as to gain competitive
advantage. The healthy juice company may sign a contract for receiving funds based on asset
financing with the partner company.
Bootstrapping
It is a process of self-funding from company’s savings and is known to be the best way to grow a
business. The profit generated from company’s product and services are utilized for improving
the infrastructure facilities of the business thereby not having any external financing source in
the business (Kearns, et al. 2014).
Crowd Funding
It is a process of collecting funds from a large group of people via the internet and often called
as crowdsourcing or an alternative finance.

TASK 4
P7 EVALUATING DIFFERENT TOOLS OF INTELLECTUAL PROPERTY THAT CAN BE USED BY
HEALTHY JUICE COMPANY
When companies create innovative products and write a manual or pay for a logo then they
create an intellectual property right. It is essential as businesses want to make sure that their
product does not get copied by any third party or Competitor Company. The intellectual
property is protected by three fundamental laws as described below (Bently and Sherman,
2014).
Trademarks
The trademark consists of two parts one is the logo and the other is an image. The trademark
applies to the product and services and will have to submit the logo and the image to the
government authorities and pay the fees to get the products trademarked.
Patents
When an inventor invents something new and unique than his invention gets patent and is
protected for a given amount of time for making the invention open to the public. In order to
apply for the patent, it is essential to investigate if the patent office had issued a similar patent
for the company. If in case not then the owners can apply for the patent by paying the
applicable fees charges (Bentley and Sherman, 2014).
Copyrights
When a person creates an original work then he automatically owns the copyright for it. The
copyright gets applied to the written work, images, music sculptures and movies. A copyright
gives the owner the right to distribute his work publically.
Infringement

The intellectual property rights holder has the right to file a complaint against an organization,
group or people if his work is being copied or damaged by unethical means. The holder can go
the court and file a complaint and a strict action will be taken against the person who did the
damages (Bently and Sherman, 2014).
M5 EVIDENCE-BASED EVALUATION OF INTELLECTUAL PROPERTY TOOLS FOR HEALTHY JUICE
COMPANY
Intellectual property rights are highly important and play a crucial role in economic
policymaking worldwide. The matters concerning these rights affect matters of profound
importance including health, education, science, and technology and innovation policy (Bently
and Sherman, 2014). There are many instances when intellectual property gets infringed by
people for example authors written data or thesis work being used by other writers and making
it as their own. Similarly in case of healthy juice drinks if the company patents a type of product
newly developed by the company and if that product is copied by the competitor company
them that would be treated as an infringement to the intellectual property right.

CONCLUSION
The above discussion concludes that it is essentially important for Mr Daniel Green to keep
innovate the business processes in order to sustain in the competitive environment. He should
not be limited to only one product and rather offer a wide range of products to the consumers
so that company later a big brand in the market. A business plan discussed can be used in order
to develop new products for the company along with identifying various other factors like cost,
efficiency, profit, risk etc. Another aspect that needs to be considered is managing the taskforce
employed in the business. The staff of the healthy juice company needs to be trained for
bringing innovation in day to day to tasks which would help the company achieve competitive
advantage in the business. Workshops, seminars and events need to be organized so as to train
employees for improving their skills and developing an innovating mindset.

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