Innovation and Commercialisation in Organizations - Desklib

This report discusses the ways in which organizations source and adopt innovation, different types of innovation, and how to produce a detailed business case for innovation. It includes examples from Tesco and Morrisons. Subject: Innovation and Commercialisation, Course Code: N/A, Course Name: N/A, College/University: N/A.

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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Manner in which forecasting innovation are being implemented in organisation are
primarily incorporating the innovative culture in the working space. Primarily the organisation
need to simply have the effective communication within the workplace employer to facilitate the
cognitive vision to them. Other ways in which it is been forecasting are:
 Lead the employer from foremost level: Before forecasting the innovation to the employs
, leaders must incorporate impressively with the stakeholders or employers to maintain
the effective relationship with them. This approach support the leaders to analyse the
required innovation to enhance employer productivity in optimistic manner. In context to
Tesco, they must incorporate it to enhance the direct interaction of leaders with the
employers as it will facilitate the improved and effective results.
 Design the culture innovation: To facilitate the innovation in more prominent manner,
leaders must need to build the effective culture implementation in working. This culture
if innovation will enhance the employer willingness to cooperate their ideas with team
without having the fear of being judged by the supervisors. In context to Tesco, they can
implement this approach to facilitate the quality and quality rich opinions (Sultan, 2020).
 By fetching ownership of clients: To inoperative the effective innovation, organisation
need to analyse the feedbacks from their potential customers to interpret the issue that are
being faced by the customer. This will provide them evidence based negative
consequences which hare ned to be improved to satisfy the customer demands.
 Reward Failure: They are symbolise as the powerful innovation tool used by the
organisation to forecast the opinion. Here the employers are being provided with the
proper recognisance for their support and progression for their idea. Even when the failed
or irrelevant ideas is being provided then also their diligent is being respected. In context
to Tesco, this approach will support the organisation in generating enhanced innovated
ideas while motivating employs regularly to boost their productivity (Sparks, 2019).
P2 Provide differentiate between different types of innovation and how they are processed within
organizations.
To facilitate organization towards the growth, it is essential for the organization to
introduce innovative product and service. It will support the organization to provide the
achievable competition position in accelerated manner. Here organization prepare employs in
effective manner to import creativity and efficiency while utilizing the resources in impressive
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manner. Types of innovation used by the organization to perform their function in appropriate
manner are:
 Paradigm : Paradigm innovation is primarily symbolize as shifting of underlying mental
model via imparting the change in the existing model. Here the innovation are done in
enterprise cycles or approaches. Here the innovation don't merely occur in the existing
products but changes formally occur in fundamentally in withing the innovation space. It
enables the organization tp enable the economic growth in accelerated manner while
facilitating the innovation in the profound manner. These innovation supports the Tesco
organization to determine the new opportunities to be offered to their potential clients or
the commodities in the market. It is the approach used by the firm to modulate the model
with the aim to take organization towards the success as Tesco will take several form of
innovation to create improved content for their customers (Woods, 2019).
 Process: It is represented as the modulation under which the organization alter the service
or product at which they were existing or available for the delivery. They are primarily
the process innovation where the improved innovation are the being establish in
manufacturing unit to provide improved measured for it. They are primarily concerned
with the recruiting, providing, book keeping, holding data which will benefit data due to
range of innovation occur. Tesco this developing approach will support the organization
operation to be worked in more comprehensibility manner. Organization need to
incorporate the varied strategies in different method to to execute or evolve plan of action
in strategic manner. In many instance these procedures or the modulation are difficulty
for the Tesco workforce to execute as required change might me associated with the
proactive risk. This approach supports the organization to take in the product or service
which are being offered into the new market with new alternative to attract more and
more customers.
 Position: Here the product or service positioning is being altered in context to provide
altered approach. Here the alteration are being occurred with the aim to modulate them
according to the customer demand and approach. Here the position of the market product
or service which are present by the Tesco are being altered in enhanced directional level.
Here it primarily represent as to modulate the attitude of the firm for particular service or
the product offered by the organization in profound manner. In context to Tesco, they
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primarily look forward to repositioning their service or product availability in more
refined structured manner. While incorporating the innovation the firm need to position
the innovation in more broader range to feasible their business in more adjacent manner.
Tesco workplace need to have the advance analysis of data before planning the changes
in innovated or positioned manner. This approach will support the organization in
identifying their customer needs in more optimistic manner ( Clohessy and Acton, 2019).
 Product innovation: They are symbolize as self-explanatory substitute of the innovation
where the market changes related to product or service are being formed in quality
manner. It also facilitates the process innovation with the aim to optimize the customer
satisfaction in enhance manner. Through this approach, Tesco origination incorporate
progress modulation in their new product or service while providing their customers the
improved features. Here the innovation are being performed with aim to provide the
enhance the functionality in existing products. It helps the organization in stay relevant in
their competitive market and enhancing their growth in optimistic manner. In context to
Tesco, they might incorporate the technological advancement in workplace or service to
enhance the satisfaction of the their customer. Regular innovation in product or service
are being incorporated by the Tesco organization depending upon the demographic
preferences to attract more and more customers (Cheng amd et. al., 2021).
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.
Business case study significantly provides the justification to the workforce for the task
they have been assigned to accomplished in prominent manner. This will support the
organisation to enriched the enhanced asset for organisation while providing them data
associated with forthcoming risk or advantages associated. There are enhanced numerous manner
in which the organisation must gamble in event to organise the steady as Tesco.
Summary Tesco is Multinational retailer of general
merchandise which harry out their business
through multi format or online portal. Their
store are primarily operates in varied size or
range of products or service deliverable. They
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are operating their business primarily through
the supermarket or hypermarket where the
entity is present in around 14 nations
worldwide. Primarily when they have initiate
the business outlet they were just the sales
outlet but now has converted into existent wide
chains stores (Appio and et. al., 2021).
Objectives Prime aim behind the organisation is to service
their customers with enhanced quality and
resources depending upon their demands and
needs. Wide plan of action are being used by
the organisation to incorporate reductio of cost
while applying effective methods to engage
more customers towards the service provided
by them. The business utility is looking
forward to intent the spread of their business
portfolio to multiple sectors to enhance their
growth to provide Growth platform to Tesco in
profound manner. This prime purpose behind
the case study is to insight accurate
forthcoming opportunities for the Tesco while
provide accurate decision-making approach to
employs.
Mission The mission for which Tesco is working is
towards providing their customers the quality
services and products while modulating the
methods in a manner to protect communities
health in intense manner. Tesco is formulating
their action in a manner to create enviroenemnt
for their employers and customers in a manner
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to contribute effectively for growth of their
health. All employers and customers are
component of forthcoming success which are
arriving in the approaching time unit
(Raymond, 2019).
Vision Vision of Tesco is to highly valued the business
which hare being operated in community to
serves customers according to their demand in
breeding manner. It supports satisfaction of
stakeholders in crucial manner with aspect to
progress organisation towards enriched
progress. They also ensures that services or
product provided under the brand must be
favourable for all. They are designed in manner
to serve everyone including their online
shoppers or varied groups.
Innovation in products They are aspiring to provide the innovative
ideas, products or services with aim to serve
their customers improved solutions to provide
the sustainable growth. They are symbolise as
one of the retail sector which are working in
manner to provide their customers services
according to their demands and needs for the
commodity. The innovation are need to
launched by Tesco in their own clothing brand
with the aim to peruse enhanced success and
growth while providing their potential
customers the quality rich clothes. This
innovation will attract the customers as wide
range of clothes are being available for
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customers in reasonable price. The innovatino
must be performed in the unique manner by
industry to attract more customers to surplus
their profits in optimistic manner. However,
clothing brand is succeeding their vast position
in market due to enhanced option availability.
Tesco must also form optimistic marketing
strategies with aim to create more definite
products according to market demand
(Chatterjee and et. al., 2019).
Source of funds Primarily the source of finance used by the
Tesco is retailed earnings. This primarily
symbolise as Tesco re-invest the certain
percentage of their end of year profits into
organisation with aim to improve their
functioning and structure in more accelerated
manner. Their invest depends upon the
magnitude of profit they make overall in the
year. Their are various of finances aspects
which are available to various level in Tesco
that also support them to cover their losses also.
Varied source of funds are :
Bank loans: Tesco incorporate use of bank
loans with the aim to recover from the losses
they have introduced in the market when
enhanced them selves in clothing brand.
However, it is one of the suitable manner
through which Tesco can incompetence their
losses in more improved manner.
Venture capitalist : It is the approach where in
exchange of the stake the enhanced growth
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potential are being exchanges to enhance the
growth potential of the organisation. Thye
provide the enhanced capital to business to
cover their losses in profound manner. Here the
private investors invest to accelerate the
growth. Here the ventures takes stake in
exchange amount of the capital like the bank
takes the interest. When the profit occur in
organisation they also earn a huge capital due
to it (Camboim, Zawislak, and Pufal, 2019).
Benefits To enhance their profitability in accelerated
manner they need to gestate the innovation in
profound manner by providing their potential
customers the enriched satisfaction.
Organisation need to incorporate unique or
dynamic products regularly to customers to
built their strong connection and base with
them. When product or service are available in
reasonable price to customers, then customers
interest towards the organisation will also be
enhanced. This approach will enhanced
organisation in more profitable and productive
manner.
Monitoring and controlling To maintain the quality rich service for long
term than it is required for the organisation to
track the performance in accurate manner. This
approach will support to analyse the
functioning in accelerated manner. This will
provide review or adjustment on project
performance in outlines manner. This approach
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will ensure that project or their budgets related
on track according to desired plan that was set
initially. It will provide them real indication for
the organisation action on long term or short
term basis (Pereira, Ferreira, and Lopes, 2020).
P4 Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property.
Organisation intellectual property must be kept in more safer and protected manner free
from the risk to prevent the other competitors to take the advantages for the innovation perform
or develop by the organisation. This approach is used by the organisation to protect the ideas or
strategies fo the companies. They are primarily symbolise as the stir interest which helps in
developing or maintaining company long-term revenue steam while providing them the
competitive advantages. It support the organisation to protect their technology advancement and
enhance the stakeholders values in the firm in accelerated manner. They are primarily the set of
the assets including the intangibles or legally held organisation which hold the rights to utilize
the physical property in accurate manner. The action plan are being formulated in the
organisation to formulate the plan in enhanced improved and innovated manner to protect the
innovation in desirable manner. Various assets which are being considers as while protecting
intellectual rights are patents, trademarks, copyrights and many more which hare being justified
below:
 Copyright
Copyright is symbolise as type of intellectual property which protects original work
performed by the operating individuals as soon as work is being fixed in tangible form of
expression. They are scribe as the ownership of control on the rights of creative action or
expression taken by the organisation. Here the authorities provide rights only to the individual
who have the potential to carry out the task in same manner and accuracy. This approach
supports the individual in protecting their research or innovation in profound manner. They are
only applicable for certain period of time as after certain limit they become accusable for public
use (Tong, Cheng and Tong, 2021).
Pros of copyright
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 Incentive to create – It fosters an atmosphere of creativity and innovation to workforce in
the organisation. Here the products or services are being secured by organisation while
incorporating the copyright in profound manner. This approach will encourage the
employers concentration and innovation in optimistic manner.
 Protecting reputations – After protecting the original work, copyrights ensures that
innovator or organisation reputation are being protected in profound manner. Here the
records of the innovation are registered in which will support the organisation when ever
any risk or complication occur.
 It also prompt preventive measures – It will provide great benefit to organisation as they
can take action against the one who try to use them. The organisation can keek the record
of action of others on their copyright data or services (Johnson and et. al., 2018).
Cons of copyright
 Limited protection - Only the protection of expression of an idea is being carried out but
not authentically the idea itself. Only until certain instance the rights can be reserved by
the organisation.
 Fees and registration- The organisation need to register themselves in UK office of
copyright which his the long process that need lot s of capital fees investment in it.
 Trademark
They are the approach used by the organisation or the brand to explicit the protection for
their innovation, logos or slogans primarily. They are represented as most valuable type of
intellectual property which hare used in business entities in the market. The one who hold the
legal right foe trademark must utilize it to acquire the protection associated with it.
Pros of trademark
 Licensing – After making it certified they are being known as the licensed form where
the authentic number is authorised to owner for accurate permit for it. No particular
limitation for their life. The enforcements of the rights are being for long instance.
 Foreign territories - They are applicable wide boundaries (O’Dochartaigh, 2019).
Cons of trademark
 Repeated renewals – They are need to be registered for renewals after every 10 years.
 Weakest protection – Week when compared to patent or copyright.
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CONCLUSION
From the above report role of innovation and commercialism are being provided in
context to Tesco organisation. Innovation are primarily the solution to the technical problems
which hare being faced by the business entities to protect the interest of the interest while making
sure that customer demands are being accurately completed. When incorporate innovation the
systematic and cross-disciplinary approach is being used by the organisation to interpret their
customer demands and need in more prominent manner. It enable the customers to obtain wide
alternative to generate revenue and customer base. Report provides varied tools which are used
to protect the intellectual property and also includes associated risk or benefits of the funding.
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