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Innovation and Commercialization - Assignment

   

Added on  2021-01-02

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INNOVATIONAND COMMERCIALIZATION
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Innovation and Commercialization - Assignment_3

INTRODUCTION Innovation is method which is ascertain by different organisation to perform variousoperations in effective manner (Westland, 2016). It is method by which organisation ascertainnew and advance technology which aids to accomplish goals and objectives of organisationwithin stipulated time period. These new and innovative technology maintain effectiveness inperforming different types of activities in proper manner. New and advance technology aids toincrease productivity of company and also attract large number of customer for organisation.NIX Communication is small medium organisation which deals with telecommunication sector.It provide various service to network service to different service. This report explains aboutinnovative techniques which are ascertain by organisation in order to increase its profitability.Organisation uses frugal innovation , 4p's of innovation, innovation funnel and differentapproaches of leadership which aids to accomplish mission and vision of company and it alsoaids to expand its service in various area.TASK 1P1. Innovation and its importance to organisations in comparison with invention There are different organisation which implement new and advance technology toenhance the productivity of different company in proper manner. Management took variousinitiative steps which explains about different approaches in order to make modifications inorganisation in proper manner. These changes aids to attract large number of customer inmarketplace. These innovative methods aids to accomplish different type of activities oforganisation in proper manner. There are various strategies which is ascertain by NIXCommunication organisation in order to maintain effectiveness in performing different types ofactivities at stipulated time period. This innovative technology helps to manufacture differentrange of products as per the requirement made by customer. Importance of innovation with respect to invention New and advance technology aids to perform goals and objectives of organisation inproper manner. It create interest to different employee in order to perform various functions oforganisation in proper manner. By applying various approaches of leadership organisationperform various functions in proper manner which aids to tackle risk and complication which arearise during performing various operation of organisation in effective manner. Difference between innovation and invention is mentioned below:1
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