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Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation

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Added on  2020-06-06

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1 P 2 Explaining to employees Of Tate organisation the way organisational vision, leadership culture and teamwork |canshapeinnovationand commercialisation3 TASK 2 Explaining the various types of innovations to employees 5 P 3 Explaining the 4 Ps of innovation and the use of innovation funnel to examine and shape innovative ideas to employees of Tate organisation5 P 4 Explaining the way TATE organisation can develop Frugal innovation . 7 TASK 3 INTRODUCTION the process required to commercialise innovation in Tate

Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation

   Added on 2020-06-06

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Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 Explaining the innovation concept and determining the difference between innovationand invention....................................................................................................................................1P ! Explaining innovation and its significance to employees in TATE organisation.............1P 2 Explaining to employees Of Tate organisation the way organisational vision, leadershipculture and teamwork can shape innovation and commercialisation.....................................3TASK 2 Explaining the various types of innovations to employees ..............................................5P 3 Explaining the 4 Ps of innovation and the use of innovation funnel to examine and shapeinnovative ideas to employees of Tate organisation...............................................................5P 4 Explaining the way TATE organisation can develop Frugal innovation ........................7TASK 3 Discussing the process required to commercialise innovation in Tate organisationmarket .............................................................................................................................................8P 5 Explaining the significance of commercial funnel and the application of New productdevelopment processing for commercialisation to employees .............................................8P 6 Developing an innovative Business case for Tate organisation ......................................9TASK 4 Evaluating the range of methods for protecting ideas and understanding theiradvantages and disadvantages........................................................................................................10P 7 Determining various tools that can be used to develop, retain, protect knowledge andintellectual property..............................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation_2
INTRODUCTIONThe objectives and goals of every organisation includes profit and growth but withpassage of time, For ensuring success the companies now also have focus on gaining competitiveadvantage. The organisation is required to produce and introduce new product in order to reducecompetition. As the industry growth depend entirely on the product and services delivered bythem. The innovation of products and services can assist firm in attracting more number ofcustomer and enhancing brand image.Innovation refers to the introducing something, generating new ideas etc. Innovation isconsidered as the process of finding better solution in order to meet new requirement, needs anddemands of consumers in the market. It includes the method of invention of developing valuablethoughts and ideas for particular organisation. Innovation is essential in order to continuesuccess of any business. Innovations techniques also aid organisation in increasing theirproductivity and efficiency that will further lead to growth and success of enterprises.Tate organisations being selected for conducting the research. The aim of the study is toexplain the concept and significance of innovation. The project aims at enabling organisations toappreciate and apply the various innovation and commercialisation approach in order to gaincompetitive advantage. TASK 1 Explaining the innovation concept and determining the differencebetween innovation and invention.P1 Explaining innovation and its significance to employees in TATEorganisation.Innovation generally defines as the changing processes or generating more effectiveprocesses, products and ideas. For organisation it could refer to the implementing new ideas,developing new products or modification in existing products or services. The innovation isoften considered as finding and applying better solutions in order to meet new requirement,needs and demands by consumers. This is achieved through more effective and efficient use ofproducts , processes, technologies or model that are readily available to market and society.The term innovation can also be defines as something original and effective that canmean a lot to enterprise for achieving growth and success. It is generally considered as theoutcome of process that brings together various novel ideas in a manner that they can effectsociety and industry. According to industrial economics innovation s are developed and1
Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation_3
identified from growing demand for services and products by consumers (Aarikka-Stenroos,and Sandberg, 2012.).In organisational context Innovation includes various activities such as production oradoption , gathering and exploitation of value added products and services. It also includesrenewal and enlargement of various services , goods and adoption of new method for productionand developing new management system.Innovation is the creative skills that is used by individual for generating new idea fordeveloping new modified product and services. Creativity refers to individual quality to thinkand act in new and novel manner. Innovation and invention are the two types of creativity. .Invention can be refers to as the creation of product or launching of process for first time. WhileInnovation occurs when individual make improvement or make important contribution tomodification of existing product, procedure or services (Anokhin, Wincent and Frishammar,2011).Invention refers to creating brand new goods or devices on the other hand innovationrefers to the act of making changes to existing products or procedure by generating new idea andthoughts.Basis of comparisonInvention Innovation MeaningIt refers the process ofcreating something new thathas never been made before.It refers to the maskingmodifications and alteration inexisting products.ObjectivesIt aims to create and launchnew products.It purposes is to add value toexisting goods.Concept Development of original andnew ideaImplementing practical idea.Ability and skills required Scientific skillsMarketing, technical as well asstrategic skills are requires.HappeningIt occurs when new idea isgenerated by scientist.When need is being identifiedfor modification in existingproducts.ConcernIt is related with single productIt is associated with2
Innovation INTRODUCTION 1 P! Explaining the importance of innovation to employees in Tate organisation_4

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