Innovation and Commercialisation

This document discusses the importance of innovation and its comparison with invention. It also explores the role of organisational vision, leadership, culture, and teamwork in shaping innovation and commercialisation. Different types of innovation, such as process innovation and product innovation, are explained. The use of the innovation funnel to examine and shape innovative ideas is discussed. Additionally, the document highlights the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation. It also covers ways to safeguard a company's innovational aspects.