This document explores the concept of innovation and its importance to organizations. It discusses how structural vision, leadership, culture, and teamwork can shape innovation and commercialization. It also analyzes various sources of innovation and how companies can develop an environment and innovation culture. The document further clarifies the 4Ps of innovation and the use of the innovation funnel to examine and shape innovative ideas. Additionally, it explains the developments in frugal innovation and provides examples of its use in organizations. The role of frugal innovation in an organizational context is appraised, and the process of how innovation is developed, embedded, and measured in an organizational context is examined.
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