Innovation and Commercialisation in Organizations - Desklib

Innovation and
Commercialisation

Table of Content
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1 Discuss the ways in which different organisations source and adoptive innovation while
proceeding the specific examples for it. .....................................................................................1
P2 Provide differentiate between different types of innovation and how they are processed
within organizations.....................................................................................................................3
P3 Produce a detailed business case for innovation for an organisation while including risks,
ways to access funding and incorporated benefits in the prominent manner.............................5
P4 Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property..........................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Innovation is primarily symbolise as the developing approach used in the organisation to
surplus the significance of the new entitle product or the services. It is primarily the introduction
of the new ideas in operating workplace where the new approach to carry out the action are being
discussed. It is basically concerned with innovation of something new in market to enhance sales
and customer-base. Innovation support the organisation in predicting market demands while
providing customer the required satisfaction. Innovation enhance the encouragement and
creativity with the open-ended allowance. Here the enhance analyses or research occur in
organisation to facilitates new product in the market. Commercialisation is symbolise as the
process of launching the new product in the market. It basically entails production, marketing,
distribution, sales, customer support and other action which hare considers as the key function by
the organisation to achieve the desired goal. Report will encompass in reference to the Tesco
organisation whose headquarters are present in Welwyn Garden City, UK and Morrisons
headquarter is in Bradford, UK. The report will primarily cover the way in which innovation are
being sourced and supported by providing the evidence for the types of innovation that are being
processed within the organisation. Report will also cover the operation which hare required by
organisation to commercialise innovation and varied tools used by the organisation to retain the
innovation performed within organisation (Ogunmola and et. al., 2021).
MAIN BODY
Task 1
P1 Discuss the ways in which different organisations source and adoptive innovation while
proceeding the specific examples for it.
Ways that organisation used to source the information for the innovation are:
 Leadership : They are represented as source of innovation which are used by the leaders,
innovation officers of the organisation, senior executives and other top managing
executives of the to formulate the innovation in business organisation. The innovation
when being planned by leaders they need to incorporate adequate vision, mission which
can be practically applied in planned innovation. In context to Tesco, the leaders will
make sure that examine innovation must has the high outcome of elevating desired
customers demand in prominent manner (Corallo, Lazoi and Lezzi, 2020).
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 Centred R&D unit for planning: The prime role of R&D department is to facilitate the
existing incompetence or core new ideas in to the new product while incorporating new
ideas and approach after having the accurate market research. They provide the
knowledge-based ideas or approached to the organisation to improve the existing product
chains while proceeding their exact potential in future. In reference to Tesco, R&D
department is responsible for generating organising or planning the effective methods to
product the desired product.
 Decentralise R& D department in the firm: They are being symbolise as the firm which
has enhanced connection with their potential customers. The innovation being planned
after analysing their potential customer demands in profound and effective manner by the
department. Here the approach is used to improve the existing product service depending
upon the customer demands (Xiao and Cooke, 2019).
 Innovation labs: They are symbolise as the varied body which are being incorporated in
form or organisation unit whose prime role is to provide advance conception which can
be incorporated in the service or product. They have overall excess of the organisation
resources as they are being supervised by the governing body of the organisation or
owner. In context to Tesco, this approach is used by the firm to have the more analysed
data when planning is formed to incorporate towards advance market trend.
 Effective employs contribution: In this approach the organisation effective or appealing
employers are provided with the equal approach where they can provide their view on the
opinion that can be incorporated by the firm. Here the employers productivity is
enhanced as every one is provided acknowledgment for their contribution to alleviate
new or advance approaches. In reference to Tesco, this approach is used by the
organisation to enhance the employers connection with firm while reducing the capital
spent on varied departments.
 Intrapreneur : They are primarily the expert employ of the firm who has wide knowledge
in organisation mission or in what manner does forthcoming strategies occur. However,
they have deep knowledge about working so the plans provide by them are usually
productive. In context to Tesco, Intrapreneur facilitates the improved conclusion or
opinion in improved manner (Jeong and et. al., 2021).
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