Innovation and Commercialisation in Business Organizations

Innovation &
Commercialisation

INTRODUCTION
• In this report we will learn about Innovation and
Commercialization and how they these elements are
important in the business world.
• This report will also determine Commercialization or
Invention process and strategy helps an organisation to
introduce a new product or service in the market.

TASK 1
• Innovation and its importance in the
organisations in comparison with invention.
• Innovation is that process which is brought in
the organisations for their further development
in market.

CONTINUED
• New technologies- New technologies which
comes in the market can be used Essence Drinks
to make innovation in the company.
• Preferences of customers- preferences of
customers changes with time. This crates the
need for organisation to bring innovation.