Innovation & Commercialization of Waste or Recycling System

This report discusses the importance of innovation and commercialization in waste or recycling systems. It compares innovation with invention and explores the role of organizational vision, culture, teamwork, and leadership in shaping innovation and commercialization. The report also covers the 4Ps of innovation and the use of innovation funnel to examine innovative ideas. Additionally, it discusses developments in frugal innovation and provides examples of their implementation in an organizational context.

Innovation & commercialization
of a waste or recycling system

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1 ...........................................................................................................................................3
P1 Innovation and its importance for organisation and it comparison with invention...............3
P2 Organisational vision, culture, teamwork, leadership shape innovation and
commercialisation.......................................................................................................................4
P3 4Ps of innovation and the use of innovation funnel for examine right innovate ideas..........5
P4 Developments in frugal innovation with example to implement them in organisational
context.........................................................................................................................................7
PART 2............................................................................................................................................8
P5 Importance of commercial funnel and the implement of new product development............8
P6 Innovation business case for the organisation along with their funding methods.................9
P7 Different tools used by organisation for developing, retaining, protecting knowledge.......11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
The term innovation relates with new ideas, though and creative imaginations that helps
to improve devices, methods and processes for performing work that helps to meet with
requirements of current market. Innovation is most important source for organisation that leads
company to survive in competitive market for longer period. The main motive for innovation is
to meet with needs and wants of customers with in proper manner through organisation research
activities. Commercialisation is also an important aspects that leads business to work with
innovative ideas and convert them into viable products (Aloini and et. al., 2015). This report is
composed from point view of Bigbelly that is a solar powered waste material compacting
manufacture. It is located in US and design smart recycling solutions for large public spaces.
Moreover, this report highlights on difference between innovation as well as invention. Along
with this types of innovation and 4P's of innovation will also be covered in this report. In the last,
stages of new product development and there commercialisation with methods of innovation will
also discuss in this report.
PART 1
P1 Innovation and its importance for organisation and it comparison with invention
Invention- It relates with the concept of something new that never exists in market as a
form of a device, product or service. Like, Bigbelly introduce smart solar powered and sensor
equipped waste materials that is used for recycling the waste and manufactures new recycling
methods to perform work in efficient manner.
Innovation- With innovation process an organisation introduces in the existing products
or services through adding some new features that directly enhances products value. Example-
management of Bigbelly consider its work through introducing organic waste methods that
includes recycle leftover food items as it is used to convert into fertilizer. The main concern to
implement innovation by SME is to gain desired position in market.
Importance of innovation- This helps organisation to improve its own products by
adding into more valuable feature which leads company to gain competitive advantage in market
(Bagno and et. al., 2017). Along with this innovation also help company to increase their market
share effectively.

Commercialisation- It is a process for transforming ideas, inventions, knowledge into the
practical method for performing all work according to new thought and methods. SME such as
Bigbelly implement the concept of commercialisation to manufacture unique and creative
methods to complete all work effectively.
Difference between invention & innovation
Basis Innovation Invention
Concept With the concept of innovation the
existing organisation improve there
customer satisfaction level by improving
features of products.
Invention introduces totally a new
service or product that are developed
according to needs of customers.
Skills Innovation method required research and
development skill, analytical and
technological skill to implement
innovation effectively.
Understanding of market and implement
of effective theories organisation is able
to design new products.
Innovation as well as commercialisation work as both aspects for companies that is used
to grow and develop in market through introducing innovative and new products (Cui and Wu,
2016). It leads company for satisfying need of its customers. Invention leads company to
introduce smart dustbin to deal with waste management. Similarly, innovation methods is used
for improving innovative dustbin that convert waste into useful products such as fertilizers and
energy source.
P2 Organisational vision, culture, teamwork, leadership shape innovation and commercialisation
With the shape of better innovating ideas and promoting them it is important for company
to complete all task and objectives as per organisational vision, leadership, culture and teamwork
that directly encourages innovation and invention methods in the company. In the context of
Bigbelly with implement all aspects related with culture, vision etc. assist company to perform
there work effectively to implement process of innovation and commercialisation with in
organised and appropriate manner.
Leadership- Top authorities, managers and leaders leads the organisation to provide
right guidance, influence as well as encourage the employees to perform work within right
manner. Leaders plays an important role to guide business and its employees that offers long

term benefits to the organisation (Datta, Mukherjee and Jessup, 2015). Bigbelly leaders follow
democratic leadership style which helps to develop positive working environment in
organisational premises. Along with this leadership also leads individuals to perform all work
within positive manner by creating objectives which benefits both employee and company to
gain benefits from organisational operations.
Culture- This work as the aggregation which leads individuals to perform work as per
shared values, assumptions and beliefs that defines way or methods to complete all task as per
employees. Bigbelly implement organisational culture that helps to promote new as well as
innovative thoughts for improving products or service process. In context of innovation
Adhocracy culture is implemented by management of Bigbelly as it leads company to perform
work with risk-taking strategy in order to gain opportunities in market.
Teamwork- Most of the organisational task are performed by management with helps of
teams and groups. It results that it is essential for organisation to decide right teams that are
similar in skill, talent and capabilities. So it is easy for Bigbelly for complete all of there task as
per similar thoughts and ideas which directly implement right innovation methods in
organisation.
Vision- The vision of organisation is to align all of there task with a way that leads
business to perform work as per objectives and goals of organisation. Authorities of Bigbelly
creates vision for reducing waste of products in order to reuse them. This results it is easy for
management to promote work through which employees completes all of their work with new
experiments. So it automatically shape culture for organisation.
P3 4Ps of innovation and the use of innovation funnel for examine right innovate ideas
Innovation leads a company to perform all work and operations by dividing into different
types (Jahn, 2016). It is divided on the basis of two dimension which are technology and market.
Different aspects of innovation is as follow:
 Incremental innovation- This is one of the most common form for innovation which is
utilised for existing technology that directly increases customer value with in existing
market. Example- To add new features in existing products and services and also remove
the to improve value in existing products.
 Disruptive innovation- It is also known as stealth innovation which is used to involve
and apply new technology for introducing new area in current market of company.

Bigbelly utilise disruptive innovation technique for implementing new technology and
process in current operations.
 Architectural innovation- It is simply related with innovation that is used to implement
innovation, skills and current knowledge of organisation into different field. This
technique is more useful to increase customer base by approaching new market.
 Radical innovation- The radical innovation refers to the overall changes that take place
in an industry. This is implement of new technology in current market and remove all
methods of existing ones. Bigbelly implement radical innovation to implement
innovation in recycling industry.
Bigbelly is more attracted towards implement of incremental and disruptive innovation because
they are most flexible approach which is used to perform work according to current market
situations (Kerschke and et. al., 2015). So with this innovation methods organisation perform
there work effectively that leads to gain top position in market.
Innovation funnel
Innovation funnel work as an effective mechanism that enables an organisation to select
new and constant stream of ideas which are screened and work as a viability for company.
Innovation funnel is beneficial for Bigbelly because it leads company to create and develop
innovative and realistic action plan. With the innovation funnel an organisation generates world
of sales that is used to develop ideas as per potential market conditions. Along with innovation
funnel management process monitor each idea for increasing constant increase in rules and filters
of organisation. Example- Bigbelly introduced innovation funnel process to develop smart
recycle bin for implementing them in large spaces.
4Ps of innovation
Paradigm- This is related with changing and underlying rational model in organisation
function and operations. It leads organisation to manage change and gain knowledge of functions
in appropriate manner. Bigbelly introduces this process for improving the efficiency of products
that directly increases efficiency of organisational products.
Process- The term process is associated with changing process by which company
manage their business as an organised methods. Bigbelly monitors the procedure on daily basis
to reduce the cost by eliminating unnecessary functions and operations (Koirala and et. al.,
2016). This results more profits are earned by management through reducing costing process.

Positioning- With positioning of products an organisational easily manage and complete
its task due to which long term benefits are earned by management. In context of Bigbelly
positing is used to generate positive perception about all product offering of organisation.
Product- It is related with motive of bringing innovation in business products so with
changes in customer demand an organisation satisfy all needs and wants in effective manner.
Bigbelly is concerned to improve smart bins that is introduced for implementing better
technology that converts organic waste into useful products for performing all task effectively
(Laihonen and et. al., 2015).
Innovation space strategy
Innovation mix add 4Ps in a model which is developed by John Bessant and Joe Tidd that
is used for provide guidance and direction to an organisation where they wants to go. Along with
this it is used by management to implement innovative ideas in all functions. Innovation space
also generates idea generation process by which management implement new ideas. With the
explantation of 4p it is easy for management to gain long term results. This refers that innovation
space consists of physical environments which is to promote learning, making and communicate
better results in company.
P4 Developments in frugal innovation with example to implement them in organisational context
Frugal innovation implement by the organisation to generates various offering in order to
manage production cost of company. This is also used by management for removing all those
items that are not valuable.
Seek opportunity in adversity- It means that it is used to adverse all situations which is
organised by the organisation to implement innovation in their products. This results with frugal
innovation organisation bring innovation in all of there products to use technology efficiently.
Do more with less- This relates with gain of maximum results by using limited resources
of the organisation. So it is easy for management to accomplish better results in that is used to
generate innovation in its company.
Flexible acts- It is used by organisation for promote of innovative thoughts that is used
by organisation to implement changes in goods & services as per changing need of consumers
(Rosca, Arnold and Bendul, 2017).

To implement simple process- This is beneficial for defining plans and process related
with innovation. It is used by teams to gain successful results by implementing innovation for
performing al task as per products an services.
Including margin- This defines with better creation of thoughts an organisation
generates and implement better offerings to add more monetary value on products by increasing
there sales.
Follow the passion- It is related with implement and follow of passion that is used by the
organisation for generating better results in innovation products (Tidd and Bessant, 2018). It
results it is for organisation to gain long term profits through satisfying all needs of customers.
With the above points it is identified that management of Bigbelly focuses on completion of all
that drive products and services of company towards market direction. It results management
gain long term results from its operations by implement and follow its passion.
PART 2
P5 Importance of commercial funnel and the implement of new product development
Commercial funnel- It is also defines as the sales funnel which is based on the
conversion of all target prospects into loyal customers that directly increases sales of company
products. It is also used by management to generate more sales and creates leads to implement
prospects to encourage them as per potential clients. In context of Bigbelly with formulate of
better pricing strategies company is able to gain attention and interest of customer for offering
good products.
New product development- According to the process of new product development an
organisation easily utilise innovative features in its offering. This also refers that firms
implement changes for better development in products as per consumer preference. Steps of
NPD process is as follow:
Generation of ideas- Bigbelly introduces new products so it works positive aspect as
with recyclables waste material better items which are conceptive is used by management. With
this case management is concerned about development of dustbins which are environment
friendly.

Screening ideas- Bigbelly screen there ideas with in appropriate manner that is used to
generate and search better research for selecting better alternatives which enhances future goals
of organisation.
Development concept- With development concept ideas are generated as per conceptual
form in order to perform all work successfully.
Marketing strategy- In marketing strategy organisation focuses to analyse marketing
mix, pricing policy and target market for new smart dustbins (Wang, 2017). It leads company to
perform all work effectively by improving features. Bigbelly also utilise this to attract more
number of customers.
Business analysis- With the analysis of business and its activities it is identified that with
feasible and effectiveness related with innovative feature it is easy for company to perform work
as per market place which provides huge profitability to Bigbelly.
Product development- Dustbin are introduced in organisation to implement better
innovative features that ensure it is easy for company to develop appropriate dustbins.
Test marketing- According to test marketing all features must be test and then implement
in real market conditions in order to develop appropriate effective plans and strategies that
relates with distribution and positioning of products.
Commercialisation- It is the last step that is used by Bigbelly for implement better
innovative features in the market. This results it is easy for organisation to attract more number
of clients.
Innovation planning means to think about organizing all activities that is used by organisation for
achieving innovation objectives in company. In the present scenario, innovation is used by
management to perform all work with organisational objectives that leads firm to complete all
task as per company results which leads to gain top position in market. But major challenges
faced by organisation is to make changes in information technology. So for new product
development cost of products is high because of regular changes in company functions. In the
last, social and digital media strategy implemented by Bigbelly to complete all operations in
appropriate manner (Wieczorek and et. al., 2015).
P6 Innovation business case for the organisation along with their funding methods
Business case is used to perform all work with organised and systematic document that
provides clear idea to perform work as per innovative initiative. This is considered as an essential

document which is used for written and facilitates better justification to gain commercial
benefits. Bigbelly formulate business case to estimate cost and its implementation for identifying
risk consideration. Details related with business document is as follow: Executive summary- This includes the brief introduction of the company plan. Strategies,
policies, mission, vision and financial data etc. are key aspects of business document.
This also results it is easy for company for to attract more number of investor in order to
collect huge funds. Company overview- Bigbelly was established in the year 2003 with the motive of
reducing environmental pollution. This is a solar powered and rubbish compacting bins
that is produced to use them in public space like parks, malls and beaches (Yin And et.
al., 2015). Further, bins are manufactured in Needham, Massachusetts with power of
seahourse. Vision- The main vision of Bigbelly is to generate sustainable norms that is used for
smart waste management strategies. It is used by innovation that communities better
results to remove world for identify of waste. Mission- Bigbelly mission is used for creating better techniques that reduces waste
management and develop better product channels for creating changes and make cities
for clean. Need satisfied- With Bigbelly organisation developed innovative features for generating
soil productivity that satisfies customers needs with in appropriate manner. It results
management is able to minimise waste to enhance better productivity in their dustbins. Stakeholder expectation- Stakeholder plays an important role in the organisation which
increases customer expectation within organisation. It is used by company to implement
innovate products with a manner that leads company to earn more interest. Innovation opportunities- UK is a developed country and majority of the population is
well educated. So they are more conscious for environment and its safety so they used to
reduce environment pollution (Wang, 2017). Pricing strategy- To sale innovative dustbins organisation introduces Bigbelly with
premium pricing strategy. Targeting- Target market of Bigbelly is to focus on all public places such as park, halls,
malls and beaches.

 Financing- Finance is one of the most essential part for organisation because it helps
them to manage work and perform all operations in effective manner. Product
development, research skills and manage of work relates with functions. So bank loan is
a major source for collect funds. Angel investor also leads firms to collect huge amount
of funds through managing all task and operations. Bigbelly is focused to raise funds
from shareholders as it help company to arrange more amount or funds in order to invest
better amount in innovation perspective (Tidd and Bessant, 2018). SME face more
difficulties to arrange finance so it is essential for management to complete all task in
proper manner which is used for commercialise business for long term offering in market.
P7 Different tools used by organisation for developing, retaining, protecting knowledge
Intellectual property- This is defined as the unique identity that is related with innovative
ideas and protecting them to save the market. It is essential for organisation to protect intellectual
property rights due to which concept, techniques and methods is used to protect customers
properly form the competitors. Bigbelly protects and secure innovative features which are used
to make smart bins that convert waste into useful materials.
Definition- Intellectual property refers to creations of mind that includes inventions,
ideas, literary works, development of artistic design, logo and images which is used in
commercial fields.
Rights related with intellectual property- Invention or innovation is one of the complex
task for Bigbelly and its research department. This is used by organisation for completing all task
and operations in proper manner. Data are most important source that is used to observe,
number, words and completion of all task with proper records. So company save them in proper
manner. Another task is knowledge information which is used for contextualized and provide
essential information to make relevant results in organisation (Rosca, Arnold and Bendul, 2017).
Overview of different tools related with IP
Patent- It is considered as the legal consideration which is provided by business to plan
and launch innovative products within market. This also defines rights to complete work with
innovative concepts that is used to perform work as an original products.
Advantages Disadvantages
This is used to protect original concept for The renewal cost of patent is too high which

business to get intimated with other market
players.
directly raise business expenses.
Trademark- It is related with design, symbol, sign, logo that is used by organisation for
identify different offering that distinct them with other competitors. With right trademark it is
easy for company to identify products in unique manner.
Advantages Disadvantages
With the use of trademark organisation is able
to offer there products in unique way.
This also charge huge amount to get trademark
for organisation and its fees is charged for
regular years.
Design rights- With registered design rights an organisation protects visual appearance
for a product and items. It gives Bigbelly to ensure rights and save there appearance to extent
legal right that produce right design for products.
Advantages Disadvantages
With design and its application it is easy for
organisation to retain in market for longer
period.
It is small and narrow in scope due to which its
protection generates complexity for drawings.
Copyrights- With copyrights the collection related with rights which automatically
provides vest for creating the original work to offer authorship (Jahn, 2016). It also offer rights
for including work methods that is easy to reproduce products by another organisation.
Advantages Disadvantages
With copyrights organisation automatically
increases all work as soon as it is publish by
management.
The fees relates with registration is repetitive
in nature. So it creates complexity for business
to manage operations.
CONCLUSION
In the last, with the summarised report it is analysed that to survive in the changing
market it is mandatory for an organisation to implement innovative products. With right offering

of products it is easy for company to implement innovation which help company to deal
customers needs and wants. Along with this innovation also helps company to protect
environment by reducing waste and recycle them by new innovative ideas. Along with this 4Ps
of innovation business determines all areas that brought innovation in company offerings.
Further, with various tools it is easy for management to protect intellectual property easily.

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Online
Innovation Funnel. 2019. [Online]. Available Through:
<https://www.toolshero.com/innovation/innovation-funnel/>

Frugal Innovation. 2019. [Online]. Available Through:
<https://zlearningjourney.wordpress.com/2015/05/09/jugaad-innovation-a-powerful-
growth-model-for-complex-times-part-2-of-3/>