Innovative Business Care PDF

Running head: INNOVATIVE BUSINESS CASE
Innovative Business Care
Name of the Student
Name of the University
Author Note

1INNOVATIVE BUSINESS CASE
Part A
1. The Context for Innovation and the difference between invention and
innovation:
The terms invention and innovation are often used interchangeably referring to the
creation of something novel or new, however there are subtle differences between the two
terms and their utilities (Powell 2017). Discussed below is how innovation differs from
invention:
While Invention is defined as the occurrence or emergence of an idea or a concept for
a process or a product for the first time, innovation is the implementation of a new concept or
idea for a process or a product. Invention usually leads to the creation of a new process or
product while innovation leads to the modification of an existing process or a product thereby
adding value to it. This shows that innovation requires the existence of a product or process
which needs improvement or change, while invention just requires a new idea that can be
developed into a new process or product.Individuals who invent new peocesses or products
are known as inventors and they can be scientists or engineers, while individuals involved in
the process ofinnovation are called innovators, who are involved in the development of new
ideas that can be used to improve something that already exists and can be either scientists,
engineers, managers or workers (Kelly 2016; Powell 2017).
In order to develop an invention, it is necessary to develop an original idea as well as
it’s a working theory around which the invention can be developed, designed and executed
while to develop an innovation, the new idea being generated needs to be practically
implemented on an existing process or product to make it better. Inventing a process or a
product requires a significant amount of technical acumen and scientific skills in order to
create a process or a product that is completely new while to come up with an innovative idea

2INNOVATIVE BUSINESS CASE
it is important to have strategic, technical as well as marketing skills that can allow the
implementation of the idea to an existing process or product. Invention can occur whenever
an inventor or scientist comes up with a new idea or concept while innovation can only occur
when the need for improvement for an existing process or product is felt. Moreover,
invention can be limited to only a few processes or products and involve the research and
development (R&D) department of an organization, while innovation can involve multiple
processes and products and can involve multiple departments within an organization
(McElheran 2015).
2. The value and importance of innovation to organizations and how this can be
embedded within the organizational leadership and culture at Essence Drinks.
Innovation is an important aspect for the management in any organization as it fosters
organizational growth by helping an organization to develop a competitive advantage in the
market, meet the needs of the customers through new approaches as well as attract talented
employees within an organization. It has been pointed out by few authors that an organization
that supports innovation and innovative ideas are more creative in nature (McElheran 2015).
The creativity and innovation can also help an organization to find new solutions to existing
problems thereby addressing the organizational challenges in a new way. Creativity also
helps to explore different kinds of opportunities for an organization, helping to acquire a new
market as well as keeping up with the current market trends.It has also been suggested that an
organization can ensure its sustainability through innovative ideas for business and helping to
incorporate continuous improvement and improve the business skills of the management.
Innovative strategies to rebrand or repackage existing products can be useful to attract new
customers and increase market share (Souto 2015). Strong innovative ideas can also help an
organization to reinforce the brand and thereby increase market penetration of the product. In
addition, through innovative ideas, it is also possible to improve the efficiency of the existing

3INNOVATIVE BUSINESS CASE
business or product, improve the profits and reduce the amount of waste. The strategy can
help an organization to retain skilled employees as well as attract new skills to their
organization thereby helping to maintain better productivity. Innovative strategies can also be
used to respond to market competition or market trends, helping the organization to ensure its
sustainability. Additionally, innovative ideas can also provide the organization with an
unique selling point that can add value to the product and attract more customers as well as
increase the positive exposure of the product or process (Jarchow and Röhm 2018).
Innovation as well as creativity can be embedded within the organizational leadership
at Essense Drinks using the following strategies:
 Effective communication strategies can be used for sharing information within the
organization as well as utilizing multiple communication channels such as
newsletters, webcasts, podcasts, visual signs and notice boards that can be used to
share innovative ideas from the employees.
 Providing rewards and recognition for employees who comes up with innovative
ideas for an existing product or a process can encourage them to continue
brainstorming on innovative concepts.
 It is important to ensure that the innovation efforts that are used in the organization
are cross referenced with the marketing efforts so that the innovative ideas and
achievements of the organization can be leveraged for better marketing of the brand.
 The leadership can also help to improve collaboration within the organization
between the different departments so that through the sharing of information, new
ideas and concepts can be developed to tackleexisting challenges of the organization.
 By ensuring diversity in workplace, the leadership can help to develop an inclusive as
well as creative work environment which can foster the development ofinnovative
ideas.