Innovation and Commercialisation

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Task 1...............................................................................................................................................1
Discuss of innovation with determine the importance to organisation within comparison with
invention......................................................................................................................................1
M1. Analyse different sources of innovation by organisation an develop in environment........3
Elaborates vision, culture and team work to shape innovation team work towards
organisation.................................................................................................................................4
Task 2...............................................................................................................................................5
Explain 4ps of innovation and use of innovation funnel.............................................................5
Innovation funnel in context to organisational............................................................................7
Development in frugal innovation..............................................................................................7
Task 3...............................................................................................................................................8
Explain the importance of the commercial funnel by using new product application
development . .............................................................................................................................8
Build a detailed innovation business case in which it includes how to measure it overall
effectiveness. ............................................................................................................................10
Design a business case in terms of innovation background for assess funding........................10
Task 4.............................................................................................................................................12
Elaborates different tool to retain intellectual property for longer period................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................15
.......................................................................................................................................................16

INTRODUCTION
The innovation is collective art of creation, development and implementation of new
product, procedure or service along with improving efficiency as well as effective competitive
advantages. In other hand Commercialisation can emphasis towards the product processing or at
the time of introducing it implies benefits towards huge benefits in terms of technology
advancement (Aghmiuni and et. al., 2020). As innovation is subset of commercialisation which
is support to utilise to enhance some changes towards existing product and in similar market. For
the risk factor terminology innovation is less risk involved as compare to other invention
advancement towards similar market.
As per this report, the organisation is Darktrace company, it is an form of Artificial
intelligence that specialises towards the cyber densenesses. The company is having huge
involvement in technology industry in United Kingdom in 2013, The operation headquarter in
Cambridge, United Kingdom (Ali., Ullah and Sanauddin., 2019). By covering topic in report, to
better understanding of innovation along with process of commercialisation that effectively
process to intend by marketing appearance towards new product feature as well as process.
Therefore, further details allows to discuss on 4Ps of innovation which is generally assort
through innovation funnel. To highlight about frugal funnel as well as new product development
that effecivly enhance to focuses on report.
MAIN BODY.
Task 1.
Discuss of innovation with determine the importance to organisation within comparison with
invention.
Innovation: It is most creative and having major activity which support to organisation to
mainly introduce in better for product and service development perspective in market place
terms. Through optimisation of innovation where it include technological inventions by which
inventions such as tributes and having main focus that counted to other emerging innovation as
in effective manner (Bond-Smith., 2019). These value of examples of innovation about
customisation of customised technology will allows to undoubtedly by including for better
sustainable development In context of Darktrace company enhance innovation towards unique
development in performance of organisation perspective.
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Significance of Innovation: As per the context of Darktrace company, their
administrative team must involvement plan towards better implementation of product
development as having effective competition in marketplace. It includes to provide better study
of innovation through proper communication between manager, expertise and employees where
they can coordinate in better way. There are certain benefits that involves in innovation process: To gain competitive advancement: This one of the most prominent factor for innovation
which enables to introduce new concept of product or technology by Darktrace venture
on the basis of customer expectation. The outcomes generates new competitors that
directly enhance to increase better competition edge. Through many competitors which
are entering into new product commence into new market with better technology
facilities to better deals change in products.
 Rapid appericiate of customer expectation: by implementing better innovation can
provide better involvement to satisfy for better needs and customer. Thus, there is helps
from organisation like Darktrace company which effectively increase expectation of
customer. The optimisation of result is evaluate through better manner which is goes
around customer satisfaction that increase profitability of organisation in better way.
Invention: An invention is a unique or novel device, pattern and method that
composition or process. As the procedure of invention is commence or structure within
development progression (Costa, 2019). It has improvement on the basis of machines or product
related new process of creating new task or a project. It regulates by opting new ideas that
generates new ideas in order to attract number of people who generates ideas in better way of
product and services. As Darktrace company is coming up with new vision of Artificial
intelligence gadget in term of mobile accessories to gain more competitive advantages in market.
Significance of invention: Through better lead invention which helps to organisation
to better introduce new specification about new technology gadget of their product. So this
it is easy fir better management that tend to implement changes for better customer needs
and wants. The demands which arises of table which increases on daily basis. Therefore,
with having better introduction new phones that can work as mobile phones and edge of
other market requirement development to better gain competition.
Innovation Invention
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