Innovation and Commercialisation in Big-belly

This report explores the importance of innovation and commercialisation in Big-belly, a leading company providing smart waste and recycling solutions. It discusses the differences between innovation and invention, and how vision, culture, and teamwork shape innovation and commercialisation. The report also covers the 4Ps of innovation and the use of the innovation funnel, as well as developments in frugal innovation.

Innovation and
Commercialisation

INTRODUCTION
Innovation plays a critical role in the growth of an organization across the globe. So as to
remain competitive in the cut throat world business associates need to come up with innovative
idea continuously. On the other hand commercialization is sated as, procedure of bringing the
products and services in the eyes of the customers by using effective marketing tools. The sales
volume of the creative products can be raised when proper marketing is done in the international
market (Cadeddu and et. al., 2016). This report is based on Big-belly. This a leading company
which provides smart waste and recycling solutions for public places. It is coming up innovative
idea of SMART dustbin . This assignment covers, differences among innovation and invention.
Importance of innovation in regards of Big-belly is illustrated deeply. More focus is done of
vision, leadership and culture shape innovation and commercialization. NDP is evaluated
process is explained step by step in order to make improvements if necessary. Frugal innovation
is determined as it aid in reducing the cost of products and its manufacturing.
LO 1
P1 Illustrate innovation and identify the necessity to business associates in comparing to
invention.
Innovation refers to as, something completely new creation in the goods and services or
making additional features and characteristics in the existing goods and services. It is done so as
to render better satisfaction to the customers and well as to deliver much greater benefits.
Organization does innovation in their present goods and services so as to last and sustain for
years in the intense competitive market place. Big-belly is provides smart recycle solution in the
public places through innovation. The necessity of innovation in regards of Big-belly is
explained as under:
To gain competitive advantages: In the competitive era organization is able to deal with
the competitors prevailing in the global market is through innovation. Creativity in product and
services helps the business associates to capture huge market ratio (Christensen, Raynor and
McDonald, 2015). Through innovation of SMART dustbin by Big-belly they are able to create
tough bench mark for others and are able top gain competitive edge because this dustbin is
efficient enough to mange waste properly in public places.

Higher customer satisfaction: Through this customer base for the product and services
an be raised with the help of innovation. The raising expectation level of the client can be
achieved through SMART dustbin. This is because it helps them to mange waste properly in
public places. Changes in the product and services provide them higher satisfaction as well as
hold them back over the years. By providing them higher satisfaction they are turned into loyal
client which indirectly push the Big-belly to perform better. On the other hand it assist them to
gain formulated standards in the specified time duration (Chun and et. al., 2015).
More market share: Big-belly with the help of innovation in their goods and services
are able to capture huge market ratio. Customers are more attracted to those products which are
innovative and unique in nature. Additionally, SMART dustbin helps them to gain large market
share in the global market as it is capable enough to recycle the waste in the public places . By
continuous research and development activities business administration is able to come up with
tough challenges created by competitors prevailing in the global market.
Invention is stated as, physical creation of new idea for the first time. Invention is done
into order to make the life more easy and comfortable. This is mostly done in order to come up
with effective solutions for any kind of problem which people in the nation are facing. In regards
of Big-belly the importance of invention are showcased as under:
Importance of invention in context of Big-belly: The raising globalisation is a matter
of great concern. So, Big-belly is coming up invention in their goods and services. By this city
can be made more clean as compare to earlier and waste can be recycled for productive use. It
leads in gaining competitive advantages against rivalry (Harmsen, 2019). On the other hand
invention made by Big-belly helps to mange the waste in proper manner and contribute in
making the city neat and clean.
The differences among innovation and invention are discussed as under:
Particulars Invention Innovation
Definition It is explained as, coming up
with something for the first
time which is completely
fresh and new in the open
market place.
In this case, additional changes
are made in the existing
product and services either by
adding additional features of
characteristics in them.

Required skills Technical skills helps to
come with invention.
On the on the hand marketing,
technical and strategic skill are
mandatory for making
innovation in the global
market.
Involves This involves individual or
single, services, process and
product (Herstatt and Tiwari,
2016).
Whereas, innovation includes
mix of different services ,
process and product.
Innovation is done in the existing product and services so that sales ratio can be raised in
the market. This raises the customer base for the goods services to a large extent. Strategic and
marketing skills helps them to come up with creativity in the goods ans services so that emerging
needs of the customers can be full-filled. It involves distinguish mix of services and product so
that unique goods can be launched in the market. Invention take place in order to make the
existing goods and services into more simplified so that it can be used easily. Here, more of
technical skill is needed because it take place for the very first time. Invention involves
individual services and goods as well as it is completely new and creative in nature because it is
developed in for the first time.
P2 Brief elaborate how firm's vision, culture and teamwork shape innovation and
commercialisation
Innovation and commercialization plays a important role in the growth of the enterprise
in the global market. Continuous research and development activities should be done so that
innovation can be done by Big-belly in their product and services. On the other hand
commercialization of creative goods and services can be done with the help of effective
marketing tactics. These two aspects helps the organization to compete with tough challenges
formulated by the rivalry prevailing in the open market place. How big-belly's vision, culture and
teamwork shape innovation and commercialisation are explained as under:
Vision statement: Big-belly is specialist in providing smart waste and recycling
solutions for public places. The vision of this firm is to make the nation neat and clean by

managing the waste popery in public places. Vision statement helps the company to come up
with innovative idea so that set vision of the firm can be attained easily.
Culture: This involves, beliefs, assumptions etc. which states that governs, how staff
members behave and accomplish their work. Culture is essential for Big-belly to make
innovation in their goods and services because it undertakes certain aspects like, communication,
ownership, leadership and so on .
Leadership: Democratic leadership style is used by Beg-belly in order to mange their
business across the globe. Employees are invited in the decision making process so that from the
pool of innovative idea best one can be selected so as to gain productive outcomes (Lan and Liu,
2017).
Teamwork: Effective and skilful group members aid the business administration to come
up with innovation because their task is incorporated and communicated so as to increase quality
of work performed by Big-belly. Proper training is given to the team members so that formulated
standards can be accomplished in the specified time duration.
LO2
P3 4Ps of innovation and use of innovation funnel
In order to improvise the innovation in an organisation the four P's process in to be adopted,
which is explained as under:
Product: This is considered as the activity In which new innovation is to be implemented
in the business, by this the organisation gets assistance so that to meet needs of their customer in
an effective manner. In the context of Big Belly, process of innovation assist them in work as a
pioneer in the industry for their new innovation either by making modification in the existing
product or by introducing a brand new product in the market (Li‐Ying, 2018). As Big-belly is
having approximately 30 waste and recycling centre through which they planning to make
innovative products and services in order to recycling of trash.
Position: Position is considered as the method in which market put their focus on those
product or services in which the target customers are interested, but as because of less features or
less efficiency it is challenging for them to purchase those services or products. With the view of
Big Belly, the company introduces new innovation in their dustbins so that to catch more market
and to gain competitive edge in the market by positioning their product in the market with high

coverage. Big Belly is has captured 9510090 gallons of waste in the last year in their CLEAN
initiative which made them achieve their goal within stipulated time frame.
Process: The process is associated with the way which is adopted by the company in
order to deliver their product or render services to the customers. This aspect is helpful for the
business in enhancing their production process, so that the target customer can be satisfied with
incurring least cost. With the reference of Big Belly the internal procedure of the company is
improved so as to completing the task in minimum time and to earn high profit by improving the
manufacturing and supply process. Time square is having 500000 pedestrian on which 15,300
pounds of waste is thrown. So in order to deal with this solution Big Belly established waste
stations so as to recycle waste and make the city clean.
Paradigm: This involve all those methods which are adopted by the manager so that to
make process of innovation much easier. The model of paradigm assist the business so that to
find those ways which are helpful for the management in completing their task in order to
achieve organisational success. Big Belly is recycling 40% of public waste even with 50% less
time in bin collection, this method helped big belly in controlling overall wastages.
Innovation funnel: This includes all the methodology and steps which is adopted in order to
introduce new product or service or any new process. Innovation funnel is used by the business
so that to get long term benefit over new innovative product and to make a sequential plan in the
process of operation. The process of innovation funnel is dominated and controlled by
department of research and development. Under this process market evaluation is included so
that feasibility of the product in the market can be determined. Stages of innovation funnel is
explained as under:
Idea generation: This is the activity which is carried out by research and development
department as various ideas are introduced with relation to product and services which is
propounded by proper monitoring of market threats and prevailing opportunities in the running
environment (Lusch and Nambisan, 2015) Under this stage solution to a problem is find out and
that solution is known as idea.
Concept investigation: Concept investigation is the process under which different steps
are included that are associated with objectives and aims of the business. Further the concept is
tested with the help of identification of future customers and available resources which is
gathered so that to complete the given task in an effective manner.

Feasibility study: Under this stage the evaluation of idea is performed with the reference
of profit generated and on the basis of technical, rational and economical aspect. The key
objective of feasibility study is that to recognise those plans and ideas which are accepted in the
market and play as a contributor in the success of business. As along with this management is
required to identify loop holes so that to perform feasibility study in an appropriate manner.
Development stage: This stage is used in order to launch the future product or service in
a considerable manner.
Post release phase: Under this stage feedbacks is generated from the customer so that to
improve them as per the requirement of the customer.
P4 Developments in frugal innovation
Frugal innovation includes the process which is used to diminish complexness in the
production process of goods and services. The key objective of implementing frugal innovation
is to introduce cost efficient products and reducing the wastage in the production. Frugal
innovation is helpful in eliminating those redundant features which are not advantageous for the
business (Mazzola, Perrone and Kamuriwo, 2016). Frugal innovation process is explained as
under:
Find opportunity in adversity: Under this process the aim is to finding opportunity in
the prevailing problems so that to improvise the organisational performance. As in context of Big
Belly the manufactured dustbins are helpful for keeping clean the environment and by
introducing new feature like waste recyclable dustbin, this result increase in business
performance and to improve their performance to stay in long term business sustainability.
Use less perform more: This step identifies about those scarce resources which are
utilised by the business. So this assist the business in recognising various demand of the
customer so that to bring higher efficiency in the organization. Big Belly uses their ordinary
feature and so that to bring efficiency in the business in order to perform workings in a better
way. Similarly usage of used material assist Big Belly in having reduced cost in their
manufactured dustbins (Min and Christian, 2017).
Think and act flexibly: This entails all those strategies which are strict and inflexible in
order to introduce any change in the business with respect to the needs and demands of the
customer, so it is hard to modify those strategies. So to overcome from this problem the
organisational management is required to put emphasis on improvising the product.

Use simple methods: This states that all the working and operations in the business are
supposed to be effective and uncomplicated, So that to create proper understanding in the
customer. On the other hand with simplicity, continuous improvement are required in a business
so that to attain competitive edge in the market. By adopting simple methods Big Belly is able to
identifying the market changes and altering their products accordingly.
Include the margin: This step says that overall customers are to be taken for the process
of improvement, so this assist the organisation in recognising the needs and requirement of the
business as well as customer in a regular manner.
Follow your heart: This states that the management of a business supposed to pursue all
their business activities with passion and emotions. This is helpful for the management of Big
Belly in altering their existing products and enhancing market capture by meeting needs of the
customers.
LO 3
P5 Importance of commercial funnel and the process of new product development
Commercial funnel: This is best known as sales funnel, the key objective of commercial funnel
is to transform all the targeted customers into customers. As under this process net income of a
company increases by acquiring more leads over new feature of a product. This states that the
journey of conversion of target customer into consumer is a task which require a lot of efforts.
As in context of Big Belly it is helpful for the management so that to determine the cost and
selling price of their new and innovative products, this assist them in increasing their overall
sales and profit as well.
New product development: This is the process under which a new product is introduced
successfully in the market. It is helpful in get to know about emerging needs of the customers.
Step of NPD is explained as under:
Idea generation: This step of NPD involves the idea and concept development. As in
context of Big Belly the company has come up with two ideas of innovating their products. One
is the dustbins which are auto recycling the wastages, other one is coloured dustbins for wet and
dry wastages (Rosca, Arnold and Bendul, 2017).

Idea screening: Under this stage one idea is selected among so many pool of ideas. The
idea is selected on the basis of feasibility. So Big Belly ha selected the idea for innovation which
is production of auto waste recyclable dustbins.
Development concept: Under this stage the company performs research and
development process in order to recognise the need of customers. For this some customer are
chosen so that to give them visual demonstration of the usage of new product and then feedbacks
are gathered by Big belly. This demonstration and feedback gave them a positive feedback about
liking by the customers.
Market strategic analysis: Under this step marketing mix, product and budget decisions
are to be taken by the organisation for their new product. As in context of Big Belly they decided
the budget for the marketing and promotional activities and operational activities as well. Further
the cost is being allocated to each and every department so that take decisions about every
aspect.
Business analysis: Under this step of NPD the cost and profit are to be forecasted. As in
reference of Big Belly the R&D department determined the total risk, budgeted profits and
budgeted cost and prepared cost sheet with the help of finance team.
Product development: As under this stage the quality of new innovative products is
checked on the basis of final cost and usage. The research team of Big Belly checked the quality
of new innovative dustbins and tried to find any flaws in their product.
Test marketing: As after product development test marketing is performed by the R&D
department so as to check reposes of customers by providing them the manufactured product and
advertising them. So for this Big Belly decided to promote their product by providing free
samples to the public and banners on the roads.
Commercialisation: Under this last step of NPD the product is ready for
commercialisation i.e. ready for the public use. For this purpose Big Belly has opened stores and
made their dustbins available on online retail stores in order to get larger customer capture and
provide easiness to the customer for buying that dustbins.
P6 Prepare business case for organization including numerous source of finance
Business case: This particular case is associated with enterprise which demonstrates the
reason to begin a project in proper manner (Yusuff Jelili, 2016). . On the other hand all the
functions which are going to be performed by the company are explained in details. Business

case assist company to make better decision that helps them to make a project successful in the
open market place. However, Big-belly need to design business case in order to bring innovation
in the goods and services smoothly (Souto, 2015). The various steps covered in this are
elaborated as under:
Executive summary: Innovation and commercialization are the two core aspects which
helps the company to remain competitive among its rivalry. Types of marketing tactics used by
Big-belly for the promotion of SMART Dustbin is determined. Along with this targeted
customers for the products are identified so as to accomplish the formulated standards in the
specified time duration. Additionally, numerous investors are stimulated to invest funds in their
idea in order to make it successfully in the market.
Background of the company: Big-belly is a leading organization across the globe. It is
well-known among the public as it provides smart waste and recycling solutions for public
places. They working in order to make the city neat and clean as well as to come up with creative
idea so as to manage the waste properly in the public places.
Vision: To make the nation clean by recycling the waste with the help of SMART
dustbin.
Mission: Big-belly's mission statement is to make available SMART dustbin for
commercial purpose as well.
Innovation opportunity: As SMART dustbin recycle and manges the waste in public
places in effective manner there is huge growth opportunity. This because in the coming years
the demand for SMART dustbin will be raising for commercial purpose as well.
Competitive edge: SMART dustbin is able to mange waste properly in public places it is
able to gain competitive advantages because there is no such dustbin available in the public place
which can mange wastage properly (Yang, Lan and Zhao, 2017).
Size and growth possibilities: The size and scope of SMART dustbin is huge because
the raising global warming is a big concern for every one. So this dustbin who is capable enough
to recycle the public wastage in effective manner is in huge demand in the nation. In the coming
years it will be demand for commercial purpose as well.
Target market: The targeted customers are general public. Big-Belly's SMART dustbin
is designed by considering that all the people in the nation can use it in their daily life. Various

campaigns and sessions are conducted in order to make citizen of the country aware regarding
the benefits of SMART dustbin.
Positioning: Big-belly's want to position the SMART dustbin in the minds of the
customers. By doing so the demand for this dustbin for commercial purpose will be raised. It will
help the organization to accomplish the set goals and objectives in the specified time duration.
Competition and possible competitors: Due to the raising global warming every firm is
coming up with innovative ways to recycle the wastage in in much effective way. It is the biggest
challenges for Big-belly's. Rivalry are conducting research activities in order to come up with
creative ways to design SMART dustbin in nominal prices.
Strategy: High-Low pricing tactics is adopted by Big-Belly in order to raise the sales
ratio of SMART dustbin. The prices raises as the demand for it raises in the market among the
customers. Whereas, the prices are cut down when there is less demand.
Marketing: Digital marketing tool is adopted to promote SMART dustbin in order to
raise the sales volume of the dustbin and in order to make maximize huge profit out of it.
Funding: Numerous investors are invited to invest capital in the idea. This is because the
manufacturing cost of SMART dustbin is high . This is the reason it is available only in the
public places. In order to make it available for commercial purpose they need to reduce the
prices of the dustbin so that general public can purchase it and can use in their day to day
working. By this waste can be managed properly. The management of Big-Belly have various
options to raise their funds to introduce its new products more successfully into the market which
includes crowd funding, venture capital, bank loan etc. Among these, bank loan can be most
suitable option to opt for Big-Belly due to having low rate of interest as in comparison with other
options. Bank provides secure loan with fixed rate of interest which makes easy for manager to
understand the amount to be paid to bank on specified due date.
Expectation: Customers emerging needs are full-filled because their city and near by
public places are going to neat and clean through SMART dustbin. Customers are seeking for
such innovation in the Dustin so that proper wastage management can be done in both public and
commercial places.
Following plans: Government should support Big-belly's financially so that SMART
dustbin can be prepare at low cost and can be prepare for commercial places as well. By this
management will be able to follow their plans more properly without any kind of interruption.

LO 4
P7 Different tool to retain intellectual property for longer period
Intellectual property: It is defined as the tools which safeguard the creation of product
or services of a company. Some tools which are used by Big Belly in order to safeguard their
products are explained as under:
Patents: This is the tool which provide a license to the owner company that their idea,
product or process can not be copied by some other person or business. This tool helps Big Belly
in preventing their idea and innovation from imitating in the market.
Advantages:
 Filing a patent provides an organisation a legal monopoly on selling, using, producing,
importing their new product for a particular time period. This throws other rivals out of
the market for the invention which can bring beneficial result to their net profitability.
 Big-Belly if using Patent tool can charge a premium for their innovative products due to
restricted competition as no other company can produce similar products.
Disadvantages:
 To file a Patent, management of Big-Belly need to disclose all the technical information
about their innovative products which may leaked into the market.
 Using of Patent requires to cost incur which can affect their profitability, Failure of
paying maintenance cost will result in losing their rights of protection under the patent.
Trademark: These are categorised as the designs, signs and all those symbols which
represents the company of a product. This is helpful for Big Belly in making their separate
identity in the market and enhance their brand value.
Advantages:
 Using of tool are generally reasonably priced and easy to enrol than patent.
 Trademark have a statutory life as long as an organisation renews the registration of
trademark. This makes easy for Big-Belly to retain rights for longer time period by
renewing on expiration.
Disadvantages:
 Trademark is said to be weakest tool of intellectual property as it only protects marketing
concepts and not always product itself.

 Big-Belly need to show proof of using such tool at regular intervals and failure of such
submission leads to the loss of trademark.
In the context of Big Belly, they should opt for patent as a tool of intellectual property.
This will help the company in enhancing their brand image in the market and competitive edge
with high customer base and profits. This provide assistance in improvising efficiency and
manufacturing process of Big belly (Yun, Jeong and Park, 2016).
CONCLUSION
As from above detailed report it can be deduced that innovation is the most essential
element if organisational success. This provide assistance in gaining competitive edge in the
market as by introduction of brand new feature in product or services. Innovation is
advantageous in modifying customer need so that to make improvements in existing product or
service. Innovation frugal, NPD process and 4p's of innovation is helpful in recognising the areas
and activities in which innovation can be introduced in order to meet customers need. Further
business plan help the business in properly executing their innovating plan so as to get
competitive edge and market capture.

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