Innovation and Commercialization: A Case Study of Mr. Green's Healthy Drinks

INNOVATION AND
COMMERCIALIZATION

TABLE OF CONTENTS
Introduction......................................................................................................................................1
LO1..................................................................................................................................................2
P1 Explain innovation and determine its importance to organisations in comparison with
invention......................................................................................................................................2
P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation.................................................................................................................3
M1 analyse different sources of innovation, and how organisations can foster and develop an
environment and culture of innovation........................................................................................4
LO2..................................................................................................................................................6
P3 explain the 4Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas.................................................................................................................6
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organisational context..................................................................................................................8
M2 analyse and apply the innovation funnel in organisational context of Mr Green’s healthy
drinks...........................................................................................................................................9
M3 evaluate the role of frugal innovation in organisational context of Mr Green’s healthy
drinks.........................................................................................................................................10
LO3................................................................................................................................................11
P5 Explain the importance of the commercial funnel and the application of new product
development (NPD) processing for commercialisation of innovation......................................11
P6 Build an innovation business case for an organisation, including ways to access funding
[M4]...........................................................................................................................................11
M4 Measure its overall effectiveness using appropriate techniques available to test, iterate and
improve......................................................................................................................................13
LO4................................................................................................................................................14

P7 Evaluate the different tools that Mr Green can use to develop, retain and protect knowledge
and intellectual property............................................................................................................14
M5 Evidence-based evaluation of these different tools in the context of the wider business
environment...............................................................................................................................14
Conclusion.....................................................................................................................................16
References......................................................................................................................................17

LIST OF TABLES
Table 1: Seven sources of innovation..............................................................................................4
Table 2: Four Ps of innovation........................................................................................................6

LIST OF FIGURES
Figure 1: Innovation and invention..................................................................................................2
Figure 2: Seven sources of innovation.............................................................................................5
Figure 3: 4Ps of innovation..............................................................................................................6
Figure 4: Frugal innovation for sustainable development...............................................................8

Introduction
Innovation and commercialisation is the concept which is adopted by the organization who wants
to change the little bit of think in their existing product without moving towards any new product
and then commercialise the product in the market with proper marketing plan. The report will
cover the case study of Mr Green owner of the Healthy Juice who launched Milkshake in the UK
market at high rate but due to competition their sales get reduced. This problem can be resolved
with the help of the innovation idea which will be discussed in this report. This report will cover
the importance of innovation funnel and role frugal innovation in this organization and how they
can use these processes to bring the innovation in their drinks. This report will also create the
business case for the organization which helps them to conduct their plan in the market. Some of
the protective rights will also be discussed through which Mr Green can protect its innovation.
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