Innovation and Commercialization: A Comprehensive Guide for Mr. Green's Healthy Drinks

This report delves into the crucial aspects of innovation and commercialization, providing a comprehensive guide for Mr. Green's healthy drinks company. It explores the difference between invention and innovation, the importance of organizational vision, leadership, culture, and teamwork in shaping innovation, and the various sources of innovation. The report also examines the 4Ps of innovation, the innovation funnel, and the role of frugal innovation in the context of Mr. Green's business. Furthermore, it discusses the commercialization process, including the commercial funnel and new product development (NPD), and explores methods for protecting intellectual property. The report concludes with a critical analysis of the challenges faced by organizations in developing successful innovations and provides evidence-based judgments on how to overcome them.

Innovation and Commercialization
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Contents
Introduction......................................................................................................................................4
LO1 Explain the context for innovation and determine the difference between invention and
innovation........................................................................................................................................5
P1 Explain innovation and determine its importance to organisations in comparison with the
invention..........................................................................................................................................5
P2 Explain how organisational vision, leadership, culture, and teamwork can shape innovation
and commercialization.....................................................................................................................7
M1: Analyse different sources of innovation, and how organisations can foster and develop an
environment and culture of innovation............................................................................................9
LO2 Explain the different types of innovation..............................................................................11
P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas...................................................................................................................11
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organisational context....................................................................................................................14
M2 Analyse and apply the innovation funnel in organisational context of Mr Green’s healthy
drinks.............................................................................................................................................15
M3 Evaluate the role of frugal innovation in the organisational context of Mr. Green’s healthy
drinks.............................................................................................................................................17
D1: Critically analyse how innovation is developed, embedded and measured in an
organisational context of Mr. Green’s healthy drinks...................................................................18
LO3 Discuss the process required to commercialize innovation...................................................19
2

P5 Explain the importance of the commercial funnel and the application of new product
development (NPD) processing for commercialization of innovation..........................................19
P6 Build an innovation business case for an organisation, including ways to access funding......20
M4 Build a detailed innovation business case which includes how to measure its overall
effectiveness using appropriate techniques available to test, iterate and improve........................21
LO4 Evaluate the range of methods for protecting ideas and understand their advantages and
disadvantages.................................................................................................................................22
P7 Evaluate the different tools that Mr Green can use to develop, retain and protect knowledge
and intellectual property................................................................................................................22
M5 Present supported evidence-based evaluation of these different tools in the context of the
wider business environment..........................................................................................................23
D2 Critically evaluate the nature of innovation and the context in which it is developed,
providing evidence-based judgments on how organisations can overcome challenges to develop
successful innovations...................................................................................................................24
Conclusion.....................................................................................................................................25
References......................................................................................................................................26
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Introduction
Innovation and commercialization are considered as a process in which ideas are carried out and
to carry out the products to the market area. This report will help in understanding the
importance of the innovation and its definition as well the comparison among invention. This
will also help in understanding the leadership, vision, teamwork, as well as the culture of the
organisation which can basically shape the commercialization and innovation. The reader will
also help in understanding about the 4P’s which is involved in the process of innovation as well
as the use of the innovation funnel so that the innovation ideas can shape. This report will also
assist in understanding the development process which is involved in the frugal innovation.
There are different sort of essentialness which is basically involved in the business as to access
the way to funding. This will help in understanding the innovation as well as commercialization
which is essential for the company to carry out its activities in an appropriate manner.
4

LO1 Explain the context for innovation and determine the difference between invention
and innovation.
P1 Explain innovation and determine its importance to organisations in comparison with
the invention.
Innovation
Innovation comes up with the creative idea generation. Innovation is considered as a process
which the knowledge is translated into economic growth as well social wellbeing. The process is
considered as an idea which is used for generating value to the organisation. This will help the
company to remove the ineffective as well as outdated products or services of the company.
Difference between innovation and invention
Innovation Invention
The innovation mainly indicates execution of
the ideas which is implemented for the product.
This is considered as an idea for creating of
products as well as the process which is never
being created by anyone.
It adds some value to the product which
already exists with the company.
In this new product is being created
It implements the ideas which are new
practically.
It includes the original idea and the things are
carried out theoretically (Datta, et. al., 2015).
It is considered as a set which includes the
technical, marketing as well as strategic skills.
It needs scientific skills
For example, innovation of LED TV, tablet, For example, The invention did like
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etc. electricity, the telephone, etc. these are an
invention which is being done by people.
The importance of innovation is:
 The innovation helps the juice company to attain competitive advantages.
 Innovation is also important to meet the set standards or objectives of the company.
 It can assist the company to attract a number of customers.
 This will be important for Mr. Green to carry out the organisations work in a proper and effective
way.
6

P2 Explain how organisational vision, leadership, culture, and teamwork can shape
innovation and commercialization.
It is considered that innovation, as well as commercialization, are an essential aspect of the
company, it can be carried out with the help of structure, vision, culture, leadership style. As
considered in the case study of Mr. Green the owner of a healthy drink, the company was going
well but it needs to carry out some innovation in the company so that it can carry out its activities
in a proper manner. So for this, the company has to consider its vision, leadership, culture as well
as teamwork so that the company can get success.
Source: (By author)
Leadership- This is known as an ability which individuals have to assist others to do the things
which the individual do not want to perform in a way so that the individual itself take interest in
the activity. This aspect is known as an important one which has to be taken in care by the
company so that it can take the company to success (Hausman and Johnston, 2014). The style of
leadership which is used by the company is like, democratic, Lassez fair and autocratic, etc. so
with the help of which the employees can get motivated and work well and do innovations. It is
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Vision
Leadership
Culture

also considered that leadership can contribute to shaping up of the innovation as well as
commercialize in the company.
Organisational Culture- The culture of the organisation mainly assists in knowing about the
way through which the organisation takes out all of the operations as well as functions at the
market area. It is considered that there is various sorts of culture in all the orgnisation such as
task and role culture, people culture, power culture all these are used by the organisation
according to the nature of the organisation. It also assists the company to have proper
development. For shaping up of the innovation as well as commercialization the culture help the
company to achieve it efficiently. The activities which are carried to fulfill the needs as well as
wants of the customers and to sustain in the market area for a long period of time is composed of
the work culture.
Vision: It is considered as a statement which can help Mr. Green to show as well as a guide
about the company that, where it is now and where it should reach (Hausman and Johnston,
2014). It is seen that the vision is to help the employees as well as the management of the
company by providing a path so that it can assist them to attain the set standard of the company.
It also provides motivation to the individual working in the company so that employees
performance could be boosted properly. By understanding the vision Mr. Green can do
innovation in the products and services which they are already providing to employees.
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M1: Analyse different sources of innovation, and how organisations can foster and develop
an environment and culture of innovation.
Innovation is considered as a technique which could be used by Mr. Green at any period of time
so that it can grow or develop as to compete in the competitive market area. There are different
sources with the help of which Mr. Green can plan to carry out innovative product or services
such as:
Source: (By author)
Unstable economic condition- The Company carries out the plan of innovation in the functions
as well as operations because of the instability in the economic condition of the nation and of the
company too. It is important for Mr. Green to innovate things in the company so that it can help
in reducing the economic crises of both the company and nation as well.
Increased competition in market area- The organisation also carry out the innovation process
in the company as to do innovation in the products as well as services so that it can sustain in the
competitive market area as competition get increased in the market. It is considered that number
of companies enter the market which mainly creates a huge threat to the company so the
innovation and commercialization are necessary (Hemmelskamp, et. al., 2013).
9
Incre as ed
comp et itioninm ark etarea
Insta bleecon om iccond itio n
Cost ofprod uct ion
Mar ketstruc tur e

Cost of production- As the cost of the production get an increase in the company so to manage
or reduce the cost of production the company carries out the innovation process. This helps in
reducing the cost of the production by reducing the wastage cost which is unnecessary.
Market structure- It is considered that the company like Mr. Green has to cope up with the
structure as well as the situation of the market as to sustain in the market area.
It is analysed that Mr. Green should create such environment so that the individuals can give
their ideas and view; this would foster the environment of the innovation (Hemmelskamp, et. al.,
2013). It is seen that the company should involve the employees in various sort of activities as
well as in the decision making process.
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LO2 Explain the different types of innovation.
P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine
and shape innovative ideas.
Source: (By author)
Product- It is considered that the innovation which is being carried out with the product is
identified as the easiest way of doing innovation. The company mainly focuses on it to develop
the product as well implement some of the changes in the existing products. According to the
case of Mr. Green, it is being analysed that it can introduce a new range of juice in the market
area so that company can face the competitive market and can improve the economy.
Process- It is considered that in the process form of the innovation, there are different sort of
steps that are involved as well as required as to deliver all the products as well as services of the
company in an effective manner. In this, the change is mainly seen as a way through which the
company carries out the business or in the manner through which the company carries out its
activities.
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Product
Process
Paradigm
Position

Paradigm- In this innovation, the changes are considered in the model through which the
organisation carries out its activities or operations (Kilelu, et. al., 2014). This innovation is
mainly applied to the responsibility, leadership, and local ownership, etc.
Position- In this innovation, the changes are being carried out in the relation with the process or
the specific position which the company has. All the changes are considered in the structure of
the products which is being carried out by the company.
There are various major elements which are involved in the innovation funnel that are:
Source: (By author)
Opportunity assessment- Organisation (Mr. Green ) can be able to understand about the
opportunities with the help of market information as well as data, so that company gets the way
through which it can meet the opportunities.
Idea- After analysing the opportunities of the market area, the ideas are generated for products
which the company is going to innovate according to the needs of the market.
Concept framing- The ideas which are created by the company is afterward framed in such a
manner so that plan can be implemented as well executed (Kuratko and Hoskinson, 2016).
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Opportunity assessment
Idea
Concept framing
Benchmarking
La
un
ch

Benchmarking- In this, the target market of the company is tested well and the feedback is
collected for the concept which is created, then the information will be set like benchmarking as
well various plans are created according to that.
Launch- At the end, after carrying out all of the activities and testing the result in the market the
company finally decides to launch the product in the market.
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P4 Explain developments in frugal innovation and provide examples of how it is used in an
organisational context.
The frugal innovation is considered as a process or a method which is basically used by the
company as to decrease the complexity level in process of work as well it decreases the cost of
production. It is considered that Mr. Green is carrying out different sort techniques as well as
methods with the help of which cost can be reduced in the company. it is considered that it is
dissimilar from standard improvement, as in it all changes have to be prepared in the top level of
the pyramid and in frugal innovation plan, as well as plans, are created as per requirements of the
market area.
The dimensions through which frugal innovation carry out are distribution, cost, quality,
adaptability. It is considered that Mr. Green is using this technique in the company so that it can
develop at the market area so that the company can sustain in the market (Ke, et. al., 2016). It is
considered that the company should provide a product which is reliable as well it should not
affect the culture or personal value of the customers. By considering the aspect of the client, the
company should carry out the operation of the company so that it can attain the standards as well
as plans. Through this, the wastage of the company can be managed in an effective manner.
It is seen that company could be able to enhance the frugal innovation with the help of
understanding and the implementing dimension of the innovation in an effective as well as
appropriate. It is important for Mr. Green to take care of all the aspects as it will help the
company by providing proper guidance as well competitive advantages at the marketplace. This
will assist in getting customer loyalty and it can be capable to capture a numeral of shares in the
market area.
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M2 Analyse and apply the innovation funnel in organisational context of Mr Green’s
healthy drinks.
Innovation funnel is considered as a process or the stages through which innovation in the
company that used to take place. The main motive for implementing the innovation in case of
Mr. Green healthy drink so that customers’ requirements can be fulfilled and competitive
advantages can be achieved at marketplaces which will enhance the economy. the innovation
funnel can work in case of Mr. Green' s healthy drink are like:
Source: Sketch Bubble, (2017)
It is considered that the Mr. Green healthy drink company uses this concept so that it can develop
the specialization. It assists the company to assume new approaches. The major steps in the
development of innovation funnel such as:
 As seen in the image the wide mouth is considered as the first part of the funnel at which
company which gather the various ideas through different sources like, stakeholders,
competition, market studies, partner, etc.
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 At the segment which is narrowing at the second part of the which ideas are generated which is
needed to pass through the process of screening. It is seen that the ideas needed have to be
matched to the objectives of organisation (Paradkar, et. al., 2015).
 At the last, the segment which is narrow at the funnel at which it is recognized where the ideas
are preferred chosen would assist the organisation so that it can attain the goals of the company.
At this, the new products of the organisation are to be realized or tested.
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M3 Evaluate the role of frugal innovation in the organisational context of Mr. Green’s
healthy drinks
Frugal innovation is considered as the main aim as to increase the value of middle-level
customers could assist the organisation in minimizing the cost of the production. It is seen that it
plays an essential part in the process for removing an important feature which the product the
company has. It is also seen that the frugal innovation can assist Mr. green's organisation to carry
out good quality products for the customers which is suitable according to the environment as
well society. It is also seen that the frugal innovation can assist Mr. Green's organisation to
follow up a proper structure through which it can work accordingly with reduced production cost
(Sanberg, et. al., 2014). The Mr. Green organisation can apply this concept so that the target
market of the company can be appropriately recognized as well it can help in the production of
local sites as well local supply could be fulfilled.
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D1: Critically analyse how innovation is developed, embedded and measured in an
organisational context of Mr. Green’s healthy drinks.
It is being noted that the opportunities for innovation experiment which is successful can provide
the organisation with the various framework for the development purpose. It is seen that the
organisation could achieve the aim of implementing the innovation through effective association
of the products, process, technologies, etc. It ought to be remembered that the advancement
assumes a key part in every one of the phases of the improvement of the organization and can
likewise help in monetary welfare alongside the financial development of the organization in a
business situation (Yin, et. al., 2014). The development in the organization can be expanded by
the technique for key arranging. It ought to be noticed that if an organization isn't sufficiently
imaginative, after a specific timeframe the organization is probably going to confront a decline in
the commercial center.
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LO3 Discuss the process required to commercialize innovation
P5 Explain the importance of the commercial funnel and the application of new product
development (NPD) processing for commercialization of innovation.
The commercial funnel is considered is required by all organisations as it assists in
understanding about the way through which the company can raise the sales of the company in
the market area. Some of the importance which the company should understand about it such as:
 Commercial funnel assists in preventing as well as safeguarding all the products as well as
services which the company carry out.
 It can assist in leading the company to maximize the marketability.
 The worth of the product at the market area is being maximized (Yin, et. al., 2014).
 It is very much effective for the company to maintain the technologies as well as techniques
which the company uses.
 This can be used by Mr. Green in the company so that it can maximize the value of the company
in the market area as well as the wealth of the company.
The process of new product development
Generating idea- It is essential for the company the create a new idea so that new and innovated
product can be introduced into the market area.
Screening idea- Among various ideas are carried out but few ideas are selected by the company
so that it can proceed further.
Development of concepts- The ideas is then conceptualized, and after that, it is being tested by
the company.
Commercialization and developing a product- At the last pilot test are carried out and the
model is spread well to the clients so that the customer's interest is able to consider.
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P6 Build an innovation business case for an organisation, including ways to access funding.
The mission statement of Mr. Green healthy drink- It needs to be known to all in the whole
world for its administration in innovation, advancements, and plans.
Problem statement- The issue that organization is confronting in regards to the assets because
of which the procedure and plans are ending up ease back to do its exercises and tasks.
Proposed solution- Organization can have the capacity to raise reserves from both inward and
outer sources with the goal that they can have the capacity to beat the issues and issues that are
looked by Mr. Green (Meyer and Marion, 2013).
Timeline- The firm need to evaluate the assets so it is exceptionally important to set a few
methodologies and time allotment with the goal that the work can have the capacity to achieve
effectively. This is extremely powerful in light of the fact that through this organization will have
the capacity to build.
It is considered that there are two methods for assuming the funds such as internal as well as
external sources. At internal, the Mr. Green healthy drink could be able to raise all the funds of
the company through the profit rising and surplus which is being earned by the company in the
financial year. At the external year, it has different options such as banks, financial institution,
investor, etc.
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M4 Build a detailed innovation business case which includes how to measure its overall
effectiveness using appropriate techniques available to test, iterate and improve.
With improvement of business case, organisation is required to accomplish it's in general as good
targets of the market. It ought to be remembered that advancement of organisation case is an
intricate procedure that calls for utilizing compelling and efficient methods through which case
could move forward.
Simple evolution- Straightforward assessment is a strategy utilizing which the business can
distinguish if the advancement procedure successful or not. On the off chance that after time the
organization develops the procedure is thought to be powerful (Meyer and Marion, 2013).
Direct comparison testing- execution of organization is contrasted and that of a contender. For
this, organization has to guarantee that the items offered by organization are indistinguishable in
nature.
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LO4 Evaluate the range of methods for protecting ideas and understand their advantages
and disadvantages.
P7 Evaluate the different tools that Mr Green can use to develop, retain and protect
knowledge and intellectual property
It has been distinguished that in an item offered by Mr.Green there are sure fixings which are
necessary to be in determined esteem with the end goal that the organization can keep up the
healthy extent of the item. For this, the administration has actualized different laws as indicated
by which the organization is required to agree. These laws and instruments can be adequately
utilized by the organization with the end goal that the interests of the organization are protected.
These extents ought to be dealt with and secured by organization keeping in mind the end goal to
keep up the uniqueness of the items
 Mr. Green can likewise utilize the system of Trademark Law which bars the untouchables to
encroach or duplicate the organization marks (Yin, et. al., 2014).
 It is required that the development ought not to be duplicated and altogether new. The producer
ought not to have the privilege to offer an item without the assent of the creator. For this
copyright can be connected to the item.
 The rights gave by the government are enforceable in courts and may bring about disciplines or
overwhelming punishments to the individuals who break them.
 In the event of encroachment, the organization is permitted to take legitimate activities.
22

M5 Present supported evidence-based evaluation of these different tools in the context of
the wider business environment.
The organization has been observed to adjust and following the different apparatuses and
procedures that have been given by the legislature keeping in mind the end goal to ensure the
interests. The organization has actualized different copyrights, licenses, and trademarks to
maintain a strategic distance from any sort of misrepresentation or encroachment. These devices
have viably encouraged the organization to secure their rights (Yin, et. al., 2014). This has
additionally empowered the organization to create compelling generosity in the market and
cultivate the acts of development and commercialization in the business forms. There are
different points of interest; the real hindrance of these apparatuses is they are exorbitant and
exact gigantic expenses on the monetary structure of the organization. It has been discovered that
after the consent of the proprietor, the organization the copyrights of the organization can be
adequately utilized by the outsider.
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D2 Critically evaluates the nature of innovation and the context in which it is developed,
providing evidence-based judgments on how organisations can overcome challenges to
develop successful innovations.
This achievement can be estimated by assessing the business figures of the organization. It is
required that the methodologies ought to be produced and detailed in such a way, to the point
that the estimation of shoppers is expanded and furthermore the opposition is looked in a viable
way. Holding the clients would likewise help in expanding the altruism of the organization in the
market (Yin, et. al., 2014). Despite the fact that these apparatuses may help in defending the
rights, they may force a heavy load on the budgetary structure of the organization. Keeping in
mind the end goal to address these issues, the organization is required to chip away at powerful
correspondence hones and making a solid working environment condition.
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Conclusion
Innovation plays an essential role in the organisation like Mr. Green to carry out their business in
a proper manner. This report helped the reader to understand innovation as well as
commercialization. It is very much important for the organisation to know about the
essentialness of the innovation in the company so that the activities in an accurate manner. This
had also helped in understanding the culture, leadership, vision as well as teamwork of the
organisation which can basically shape the idea which is innovated. This helps the reader to
understand the 4P’s of innovation funnel so that innovated ideas can be shaped as well examined
properly. This report will also help in understanding the development process which is involved
in the process of frugal innovation. There is some importance of commercial funnel as well as
the appliance of the new products. There are different sort tools which can be used by the
company so that they can properly develop as well as it can retain the knowledge in a proper
manner.
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