Innovation and Commercialisation

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1) Explain about the innovation and determine the importance of organisation. ....................4
P2) Discuss about organisational vision. Leadership, culture and teamwork in order to shape
innovation & commercialisation. ...............................................................................................6
M1) Analysis the different source of innovation and how organisations developing
surroundings and culture of creativity........................................................................................7
TASK 2............................................................................................................................................7
P3) Explain the innovation with the using of 4P's and innovation funnel..................................7
P4) Examine development in frugal innovation with the help of examples...............................8
M2 Analysis the innovation funnel within the organisation context. ......................................10
M3) Explain the role of frugal innovation in organisation context..........................................10
TASK 3 .........................................................................................................................................10
P5) Explain the importance of commercial funnel and the application of new product
development process for commercialisation of innovation. ....................................................10
P6) Analysis the business case of organisation. ......................................................................12
M4) Critically analysis innovative business case.....................................................................14
TASK 4..........................................................................................................................................14
P7) Examine the different tool which are organisation can adapting to develop, retain &
protect knowledge and intellectual property.............................................................................14
M5) Evaluation various tool and techniques within organisational context.............................15
CONCLUSION.............................................................................................................................15
REFERNCES.................................................................................................................................15

INTRODUCTION
Innovation and commercialisation is concept which refers to organisation generating new
ideas and developing innovative product and services in order to effectively achieving
organisation goal and objectives (Al Hinai, 2018). The report is about Apple in order to dealing
in wide rand of products and services and offering various product and services for customers.
The paper consist is comparison between innovation and invention, leadership, team work and
many others. It includes 4P's of innovation, frugal innovation and NPD process for
commercialisation and innovation.
TASK 1
P1) Explain about the innovation and determine the importance of organisation.
Innovation-: It is tool and technique which refers to developing idea in order to
considered the various measures due to achieving organisation success and growth. It involves
innovation is process for capturing market share as well as developing brand image in the mind
of customers (Ardito, 2018). Organisation developing innovation within the existing product and
services. In context of Apple, it includes various innovation such as launching new tablet as well
as including various smart features like compass, accelerometer, temperature sensor and water
resistant. This one is there to create new things from the old one or existing one. There is also
improvement or modification.
Inventions-: It is process which refers to organisation generating new as well as this kind
of invention are not existing in previous product and services. It includes organisation utilised
various tool and techniques in order to developing invention as well as targeting for new
customers base. The main motive for invention in order to increasing effectiveness of
organisation and creating value in the eyes of customers. It involves organisation has
requirement to conducting research such as know about customer preferences, taste and market
trend. In this, there is something new that is being developed in the market and is new to each
and every one. This refers to the one in which there are many of the new things which were not
there in the market and before in existence.
Importance of innovation over invention:
Reinforce Brand-: It involves organisation developing brand image in the mind of
customers and accordingly provided products and services. It includes organisation capturing

huge market share which refers to effectively attained organisation goal and objectives. There
are ample numbers of forces which are essential in order to making innovation regrading product
and services as well as company sustainability and growth depends on this factor.
Helping in growth of organisation-: According to the invention process so organisation
take many experts view and opinion in order to successfully achieving growth at marketplace.
Innovation is effectively implemented in order to serves the best products and services in order
to achieving success and growth. It involves various kind of risk are associated to the innovation
but they are helpful to fulfil organisation requirement (Azarmi, 2016). Most of organisation
considering innovation in product and services in order to gaining competitive advantages.
Developing a unique selling point-: It is process which refers to innovation developing
different image of organisation in the market. It is helpful to making value of products and
services as well as creation USP so increasing sale and profitability. It is essential in order to
organisation analysis the customers needs and demand and effectively making changes properly
in products.
Difference between Invention and Innovation
Basis Invention Innovation
Meaning Invention refers to developing
new strategies regarding
products and services in order
to effectively launching new
product and services as well as
achieving organisation goal
and objectives. It is process
which refers to invention are
not exist in existing product
and service.
It includes organisation
utilised various tool and
techniques in order to
generating new ideas for
developing existing product
and services. It is useful
process which refers to
creating value for existing
product and services.
Concept It includes organisation
utilising various tool and
techniques due to providing
better product and services for
The main motive and purpose
of the organisation in order to
making innovation due to
enhancing brand image in the