Innovation Business Case for Healthy Juii

   

Added on  2021-01-01

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INNOVATION ANDCOMMERCIALIZATION
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Innovation and its importance to firms in comparison with invention..................................1P2 Organisational vision, culture, leadership and teamwork can shape innovation andcommercialisation.......................................................................................................................2TASK 2............................................................................................................................................3P3 4Ps of innovation and use of innovation funnel.....................................................................3P4 Developments in frugal innovation........................................................................................4TASK 3............................................................................................................................................5P5 Significance of commercial funnel and application of new product development (NPD)....5P6 Innovation business case for Healthy juice............................................................................6TASK 4............................................................................................................................................7P7 Various tools that Mr Green can use to develop, retain and protect knowledge andintellectual property....................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9.........................................................................................................................................................9
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INTRODUCTIONInnovation is a procedure of translating an invention as well as idea in to services orgoods which develops some value for customers which they pay. It is essential that idea shouldbe economical cost and also helpful in fulfil particular requirements of consumers. In addition tothis, organisations should innovate its product products as well as offerings in context to assurethat they are retain at competitive market place (Chesbrough, 2010). This report is based onHealthy juice that is founded through Mr Daniel Green. This firm operate its business in themarket of United Kingdom with one single drink and also accomplish increment in sales in itsfirst year by using innovation as well as distribution capability. TASK 1P1 Innovation and its importance to firms in comparison with inventionHealthy juice company uses innovation in its business for the purpose of achievingdevelopment as well as growth of an organisation that will aids in attract large number ofconsumers. It is necessary that this firm should develop creative process for manufacturing itsunique or tasty juices or drinks to target more consumers. In addition to this, it is important foran organisation to analyse wants as well as demands before developing goods (Dahlander andGann, 2010). Company should know about what drinking flavours consumers like and theirtastes. Significance of innovation given below as above:Manager of healthy juice develops its current strategy in order to gain attention ofcustomers. It is helpful in generate more revenue as well as revenue in effective manner.Top management of healthy juices organisation continuously trying to develop newpolicies and applied them at workplace for make changing in current products.It is helpful in developing innovative goods for achieving aims of firm with in set periodof time. Difference among invention and innovation INNOVATIONINVENTIONIt is helpful in change and alter current servicesof products which are prepare for introducingThis term is used when an individual can createand also develop some unique goods and1
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at large market. Its main focus on finishing therequirements as well as demands of consumersin an effective manner (Drucker, 2014). services which are never manufactured before. Under this, it is necessary for changing inhealthy juices through enhancing in ingredientsvalue in order to gaining more attention ofmany consumers. The main focus of Healthy juices to designfresh as well as new products which are notseen through anyone before. In addition to this, it is necessary for Healthy juices organisation to develop as well asadopt new goods and make improvement in existing products. It will be helpful in fulfil demandsof consumers in significant or effective manner. Under this, innovation and invention both arenecessary for firm to increasing productivity and growth of business. The sales of Healthy juicesare increasing year by year. P2 Organisational vision, culture, leadership and teamwork can shape innovation andcommercialisationHealthy juices are set its vision, objectives and mission in order to accomplish setobjectives and aims in an effective manner (Edquist, 2010). For retain business in competitivemarker, it is necessary for Healthy Juices to bring some creative or innovative alterations in anorganisational structure to achieve objectives. Vision- In order to clear regarding objectives and aims of company for increasingmotivate of manufacturing team for producing better quality of services and goods by increase aswell as execute better policies and plans. It is necessary for Healthy Juices to share vision ofcompany with its staff members for achieving set objectives in significant way. Leadership- IT is necessary component of company and helpful in increasingmotivational level of team members for developing goods on the basis of needs of consumers atmarket place. The employees of Healthy juices are more talented and have an ability to deal withcustomers in significant manner. They needed for creating positive working environment so thatevery staff member can give their better performance.Culture- The organisational culture of this firm is flexible and every one can adopt ormix with its culture. The working culture of this firm is normal and motivate each person to give2
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