logo

Innovation and Commercialization Assignment - Healthy Drink company

   

Added on  2020-11-12

12 Pages3548 Words484 Views
Innovation andCommercialization

Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Explaining the importance of innovation process and comparison between innovation andinvention. ...............................................................................................................................1P2 Explaining the role of organization vision, mission, leadership, culture and teamwork andhow they shape innovation and commercialization. ..............................................................2M1...........................................................................................................................................3LO 2.................................................................................................................................................3P3 Explaining the 4P's innovation .........................................................................................3P4 Explaining the process or development of frugal innovation which provide betterenvironment in the company. And how it is used in an organization. ..................................4M2...........................................................................................................................................5M3...........................................................................................................................................5LO 3.................................................................................................................................................5P5 Explaining the importance of the commercial funnel and explain the process of newproduct development..............................................................................................................5P6 Produce a business case for an organization including the overall process to accessfunding....................................................................................................................................6M4...........................................................................................................................................6LO 4.................................................................................................................................................6P7 Explaining different tools that Mr green used to develop or to protect the intellectualproperty. .................................................................................................................................6M5 Present supported evidence-based evaluation of these different tools.............................7CONCLUSION ...............................................................................................................................7REFERENCES ...............................................................................................................................9

INTRODUCTIONInnovation and commercialization is the essential activity or process which helps to dealwith many other challenging or opportunities. Innovation is the new techniques or servicesoffered by the organization to maintained their position in the long term market. Innovation andcommercialization is taught by distinguish practicing innovators. Present study will be based oninnovation for that Healthy Drink company will be taken into action in order to meet the needs oforganization. Further this assignment will cover the importance of innovation and comparisonwith invention. It helps to present the overall different aspects of innovation such as 4P's ofinnovation. It will also explain about the innovation funnel. LO 1P1 Explaining the importance of innovation process and comparison between innovation andinvention. Innovation: Innovation is the process of generating new product and services in the market inorder to enhance the better opportunity and growth.(Ke, W. and et.al., 2016). Innovation givethe value of good products or services in the purest sense. In the market it will better introducedwhen something new create and get attached by customer to fulfills their demand. Whatever isgoing in a market we have to considered and introduced or developed a new product to show ourproduct. That process helping in the generation of the creative idea and changes into demand ofcustomer are covered under innovative ideas. (Yu, Y. and et.al., 2016).Importance of innovation: Succeed in the business. Now a time a more competition created sotake a knowledge of our business whichever it is small but it will be succeed. Various importantpart of is to create business that foster and more likely our creativity . It will use innovation as aimportant, general, human centered & technological business management processes and globalindustry eco-systems.Differences Between Invention and Innovation:Invention is defined as idea for a product or process it has never been used before. (Rasmussen,T. E. and Eliason, J. L., 2017). Innovation is transformation of an idea into reality. Inventionalways related to the new product . Invention is the most essential process to rerain potential1

customers with the company in long term goals. Along with that, without invention innovationhas not been done. (Yin, W. J., Shi, T. and Yan, Y., 2014). P2 Explaining the role of organisation vision, mission, leadership, culture and teamwork andhow they shape innovation and commercialisation. Vision: take nutrition today to keep our health well tomorrow Healthy drink shareshonesty and healthy body environment with customers. Apart from that, it also encourages livinghealthy and protective life growth. The vision of the company to live healthy, energetic, fulfillinglives. Creativity and innovation are the lifeblood of society and business especially in today'scompetitive global economy. Healthy drinks products are scientifically developed to provide thenutritious good quality and necessary nutrition many of us are missing in our modern lives(Wang, C. and et.al.,, 2017).Leadership: Quantitative analysis having a huge data to examines the relationship betweenorganizational culture, leadership behaviors, and innovativeness. The most valuable asset to acompany is its human capital and healthy companies start with healthy leadership. When anexecutive is not getting adequate sleep, has a hormone imbalance, or nutritional deficiencies, thedecisions they make will be less than optimal. When the very people in charge of the health ofthe company are avoiding their own health, it's a gamble with unfavorable odds (Song, Z., andet.al., 2016).Everyone needs to start somewhere, so here's a list of the top five things you can doing today tobecome a healthier leader:1-Take control of your sleep2-Hydrate effectively3-Have an executive physical exam4-Eat clean5-Exercise effectivelyTeamwork: To be succeed in our life a tesam is very necessary to help us. (Song, Z., and et.al.,2016). This idea is seen within the greater framework of a team, which is a group ofinterdependent single who work together towards a common goal. Behind every good company agreat role is played is called team. Teamwork at the workplace has been demonstrated to increase2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Innovation and Commercialization in Essence Drinks
|16
|4825
|314

Innovation and Commercialization in F-Drones
|13
|4033
|425

Innovation and commercialisation
|20
|5090
|61

Innovation and Commercialisation in Hyundai: Importance, 4Ps of Innovation, Frugal Innovation, Commercial Funnel, and NPD
|13
|4015
|213

Innovation and Commercialization
|17
|5776
|55

Innovation and Commercialisation - Docs
|21
|6281
|378