Innovation and Commercialisation in Desklib

This document discusses the importance of innovation and commercialisation in Desklib. It explores the 4Ps of innovation and how they shape innovative ideas. It also discusses the innovation funnel and its role in the organization. The document further elaborates on the development of frugal innovation and its impact. It highlights the significance of the commercial funnel and the application of NPD in commercialisation. Additionally, it discusses various tools used to evolve, retain, and protect knowledge and intellectual property in Desklib.

Unit 8: Innovation and
Commercialisation
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Table of Contents
.........................................................................................................................................................2
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Elaborate about innovation and its significance by comparing with invention......................3
P2 Elaborate vision, leadership, culture and teamwork in a firm that shape innovation and
commercialisation........................................................................................................................5
M1 Evaluate various sources of innovation and the way organization can develop or foster the
environment and culture of innovation........................................................................................7
TASK 2............................................................................................................................................7
P3 Determine 4Ps of innovation and their usage to shape innovative ideas...............................7
M2 Analyze and apply the innovation funnel in the context of organisation..............................9
P4 Elaborate development in frugal innovation by using examples in organisational context.. .9
...................................................................................................................................................11
M3 Appraise the role of frugal innovation within the organisation..........................................11
D1 Analyze how the innovation is developed, embedded and measured in the organisational
context........................................................................................................................................11
TASK 3..........................................................................................................................................11
P5 Elaborate significance of commercial funnel and application of NPD in commercialisation
of innovation..............................................................................................................................11
P6 Frame business case for a firm by using funding................................................................13
M4 Build the innovative kind of detailed business case for gaining desirable outcomes........15
TASK 4..........................................................................................................................................15
P7 Elaborate various tools that used to evolve, retain and protect knowledge and intellectual
property......................................................................................................................................15
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M4 Present the evidence based supported evaluation of different documents..........................16
D2 critically evaluate the nature of innovation for developing evidence based judgements.. 16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17
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INTRODUCTION
Innovation is the chain of activities adopted by the organisation to translate the something
unique in goods and services for creating value to gain amount from consumers. Innovative idea
helps in provide satisfaction not only existing but also potential consumers too. Respective report
is based on the Bigbelly which is the world leader in Smart waste and in providing recycling
solutions for public spaces. They provide smart, solar powered, sensor equipped waste &
recycling stations that helps to communicate real time status to crew in order to enhance level of
efficiency. Respective report is based on the various aspects of innovation that availed by
Bigbelly by providing solutions of waste recycling. By using value and various attributes by
comparing innovation with invention in order to gain better insights. Further it includes 4Ps of
innovation with innovation funnel which assist in directing the innovative idea in right direction.
At last it includes enhancement of frugal innovation by elaborating the implementation of new
product development stages to launch new product into marketplace. Apart from it. Business
case of firm and various kinds of tools such as intellectual property rights to protect innovation.
TASK 1
P1 Elaborate about innovation and its significance by comparing with invention.
The innovation refers to bringing new and innovative idea that make long-term success of
business. The big belly is an world leader organisation in in managing waste and recycling them
for public spaces. The innovation occur as new product and services with in already present
services of company. This helps in assisting of delivering good services to people so that they
can deliver proper services among their customers. The invention refers to the process in which a
new product is develop with in market of company. This include services and product that are
never used by services users. This is an important as it develops creativity with in organisation
which also enhance experience, knowledge and capabilities of an individual. They also provide
various solutions from which waste can be recycled including smart and solar powered
equipment so that efficiency level can be increased. There are several importance occur it is
needed at time of bringing innovation is described below.
 The innovation must attract a large number of populations so that it can increase sales of
big belly. It also includes satisfying needs and requirements of service users. The
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innovation most influences people so that they can minimize waste by using service of
the company (Naughton and Foss, 2019) .
 The innovation can be fully established when the organisation grab attention of people.
This developed more sales of the organisation to that their goals and objective can be
achieved within a proper time period.
 The Comparison occur between invention and innovation is that invention provides
innovative and new services to their customers that is newly developed. While the
innovation develop new strategies with in already provided services of organisation.
Moreover, the innovation is to which develop both for big belly by making association with
employees and staff members. The both innovation and invention are different from each other
as innovation is bringing change within already present services while innovation is the idea of
developing new services (Ng, 2019). The innovation is implemented by Bigbelly organization in
which they implement turnkey platform so that each field can be customize and it can be occur
on a modular based so that it can help in minimizing waste. The organisation wants to innovate
their services so that waste that is present within the environment can be minimized at much
level. As waste can cause various harms to people. Thus, it has been determine below.
Basis of comparison Innovation Invention
Meaning The innovation refers to
innovative and creative idea
within present services on first
phase. The Bigbelly bring
innovative idea of turnkey
platform which helps in
minimizing waste production.
The invention refers to new
idea that is newly in the
market among population. In
this, service is newly
synthesise which has not been
used before. The organisation
is not developing any
invention as waste minimizing
is their goals of the
organisation.
What is it It adds various values with in
goods that are already present
in market. It helps in
improving services so that it
With this, new services can be
developed and introduce in the
market among population.
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can benefit more people.
Skills needed There are different types of
skills are required in
developing innovation such as
marketing, strategic and
others. It helps in increasing
revenue of company at global
level.
In order to bring invention
with in the company, scientific
skills are required.
Occurrence The innovation occurs when
there is requirement of
enhancement with in recent
services and product.
It is occur when a new
innovative idea come up in
mind that help in enhancing
services for people.
Concern It includes procedure and
goods which are needed to be
consider by combinable.
It is concern with specific
services, product and process.
Activities It can be spread or develop at
all level with in system of
organisation.
This has been limited to
research and development of
organisation.
P2 Elaborate vision, leadership, culture and teamwork in a firm that shape innovation and
commercialisation.
The vision goals objectives are important for an organisation to pre- determined division and
objective of an organisation must convey to all members were associated with the organisation.
The goal of waste minimization must convey to staff members so that it can help in their work
from which they can perform properly. This assists them in getting higher position at global level
(Hobbs, 2017). The vision and mission of an organisation must be clear so that it can help in
growing business with smooth and ease. it includes culture teamwork vision and leadership
which plays an important role in shaping innovation and commercialization in every aspect.
These concepts in relation with Bigbelly are described below.
Culture:- The is organisation have different culture which is needed to be considered while
implementing innovation. As culture include regulation, beliefs, rules, values and norms which is
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a part of innovation. These are need to be considered while implementing within the organization
in order to better working of big belly. If the culture of organization is the familiar that it is an
easier to adopt innovation by employees so that waste can be minimized. The walking
environment of organisation must be positive and healthy so that the staff members and
employees of Bigbelly can be satisfied. This help organization in bringing innovation in a better
manner among highest revenue in market area. The culture provides support to organisation by
providing various new innovation and commercialisation by developing changes with in the
culture and environment of organisation.
Vision:- The vision of big belly is to minimize waste by using turnkey platform so that
every fleet can be customize by the people of UK. This innovation can minimize waste
production in an effective manner which can bring various discomforts to the population of
country. The organization wants to develop good health of human by balancing waste. With the
help of innovation, the waste management organization wants to fulfill needs of customer in
order to enhance their business growth. The vision provides support to employees and
organisation by coordinating and communiacting with them. With this, they can provide proper
vision of target top their workers so that they can motivated about it and take part in it.
Leadership:- The leadership plays an important role while producing innovation with in
services of organisation. this is necessary to be implemented within organization in order to
manage waste. As leaders are ones who provides support and direction to employees so that they
can work properly. Moreover, the leaders play an important role in managing innovation
effectively so that it can properly usable to all customers. Best help in increasing sale of
organization with proper managing team in Bigbelly. The leaders provide support to organisation
by leading the employess about new intervention that has been used in innovation and
commercialisation.
Teamwork:- there are various type of steam occur within organizations such as problem-
solving, functional and virtual. This is an important aspect which is needed to be occurring so
that functioning of work can be done in an effective manner. The good teamwork can prevent
workload on staff members of Bigbelly which assist them in achieving their objective and goals.
The framing of team is necessary to be occur in a proper way so that each member can perform
in minimizing waste. The teamwork provide support to organisation with in their innovation and
commercialisation by providing information about new ideas. They can communicate with their
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employees so that they can help in enhancing productivity with in innovation and
commercialisation.
M1 Evaluate various sources of innovation and the way organization can develop or foster the
environment and culture of innovation.
For an organization innovation and commercialization plays very much important role as it
leads towards profitability and sustainability into the marketplace. in context of Bigbelly by
conducting the research and development found that consumers demand innovation. In that
regards by evaluating the various source of innovation such as vision, leadership, culture of
the organization and motivation of employees helps them to get the desirable outcomes. by
developing organizational culture in which every individual should be rewarded to bring
innovation.
TASK 2
P3 Determine 4Ps of innovation and their usage to shape innovative ideas.
For an organisation innovation plays very much important role to find out innovative idea
and implement it in successful manner required the 4Ps of innovation that is Product, position,
process and paradigm (Mazzarol and Reboud, 2017). Respective factors should be implement in
context of Bigbelly which is a leader in whole world for providing recycling solutions for public
spaces.
Product Innovation: By bringing new product and services in most innovative manner helps to
respective organisation in gaining satisfaction from side of consumers. Bigbelly offered as a
turnkey platform in which every fleet is customize in nature and modular based that helps in
waste minimization. Respective technology helps in enhancing efficiency of their production of
products and services in most positive manner. The examples of product innovation includes
electric and gas lawn mower, GPS in cars, Cell phone pairing in cars and LED light bulbs and
many more.
Process: To implement the innovation in most successful manner required a full fledged process
that helps in reaching at desirable outcomes (Skea, 2019). In context of Bigbelly as they offered
a platform in which each fleet is customizable and modular in nature that helps in waste
minimization in order to enhance efficiency. In that regards respective organisation required the
customers deploy their platform as a deploy platform as an subscription and various services to
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get success. The most important example of process innovation includes Henry Ford's invention
of world's first moving assembly line. It proved useful simplified vehicle assembly.
Position: Before implementation of innovative idea into market place it is very much important
for an organisation to access own position in market place. In context of Bigbelly which is giant
in market in recycling of wastage. They are committed towards doubling the city’s recycling rate
by 30% by 2017. The excellent example of position in innovation is change in mental models
that includes shift in the low cost airlines, provision of online insurance and kinds of financial
services by repositioning drinks such as coffee and fruit as premium designer products.
Paradigm: Respective factor come under last factor in organisational innovation mix which is
related with the changing perception of pursuing business in different manner (Zhang, Jin and
Guo 2017). it includes the doing same thing but in differ manner that helps to attract large no. of
consumers in positive manner. in context of Bigbelly they are come with solution of waste
recycling but in most innovative manner.
Innovation funnel: Innovation funnel is one of most important tool for the organisation which
assist in taking important place while developing the product and services for the consumers. In
context of Bigbelly with the help of innovation funnel they can be able to gain better place and
position in market. For managing the activities related with the inception of platform related with
the waste recycling innovation funnel plays very important role. The innovation funnel relevance
is used to describe steps that takes place in developing the process or product. The purpose of all
kinds of innovation is to create the processes or products to meet market needs in proper manner.
Assessment of opportunity: In inception phrase of Bigbelly, they accumulate data and
information such as 40% recycling diversion rate, capacity of waste and recycling annually and
reduction in collection per week. Respective kind of information helps to organisation in taking
positive decision making.
Insights based ideation: In second phrase of innovation funnel consist of the evaluation of
opportunities in front of organisation by implementation of new technology in marketplace. in
context of Bigbellly they access the challenges and motivation in front of them. As per research
they found that Times Square Alliance sanitation team handle about 900 bags on daily from the
traditional garbage bins so motivation that they have to recycle all these waste.
Conceptualization: In respective stage of innovation funnel consist of work on designing of
concept before practically launching into the market (Smith, 2020). In context of Bigbelly with
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the help of experts they frame out all idea in practical manner so that they can gain desirable
outcomes.
Evaluation and benchmarking: In respective stage Bigbelly test their concept by defined their
actual target market. They by using pilot project test it on small scale.
Go/ No Go: After using pilot project they verify results and by taking feedbacks from experts
able to work on their misdeeds in order to gain the desirable outcomes.
Launch: finally, after verify results, they planned to implement systematically into market.
M2 Analyze and apply the innovation funnel in the context of organisation.
It has been analyze that to apply the innovation with the organisation it is very much
potential for an organisation to collect necessary knowledge and information in proper
manner. in context of Bigbelly to embrace the innovation and commercialisation by using
the 4Ps of innovation organisation firstly find out significance of innovation practices and
then apply systematically in the organisation to reap important kind of outcomes so that
they can achieve the desirable goals and outcomes. With the help of positioning, evaluation
and benchmarking they can be able to fix oneself into market.
P4 Elaborate development in frugal innovation by using examples in organisational context.
About frugal innovation:
Frugal innovation is the chain of activities which assist in find out the unique kind of
business model, redesign the existing products and services and regenerate values in products to
serve consumers in possible manner (Dias and Ferreira, 2019). To originate new ideas and
concepts various organisations use frugal innovation to develop value in existing products and
services. In context of Bigbelly which is market leader in waste recycling, they come up with
new platform in market that is customized and modular on basis of their capacity, waste stream
and accessory. The example of frugal innovation includes in china is Haier washing machine
Mini Magical child china: BYD Lithium- ion Batteries. In Ghana: Toyota Charcoal Stove that
helps in improving the life style of people and enhance convenience.
New market opportunities: for an organisation it is very much essential to accumulate
necessary knowledge and information related with market before expanding business. Due to
collecting information regarding market demand Bigbelly acknowledge that waste is one of
fierce problem in front of world. So they come across with the platform of waste recycling that is
customized and very convenient in nature in order to gain potential outcomes.
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Resources: Before come up with new products and services in to market place it is very much
potential for organisation to evaluate about resources (Patrini and Demetriades, 2019). It helps to
sustain in marketplace for the long period of time. In context of Bigbelly they come with
innovative idea so they have to accumulate potential knowledge regarding resources.
Innovation funnel: Innovation funnel is directly related with the developing new products and
services into the market with the help of specified model. In context of Bigbelly they work on
new business model that assist in protection of environment. in that regards alteration in frugal
development plays very much important role. There are two important kinds of segments of
frugal innovation that are as follows:
Problem: there are fierce competition exist in the marketplace in that regards come up with new
business idea is not a easy task. Organisation encounter no. of issues or concerns while they enter
into market with new products and services.
Related to product: To reach at wider market place, communication plays very much important
role (Song, 2016). To interact with consumers and reach at potential consumers is very much
difficult task for marketers. In context of Bigbelly they facing problem related to marketing of
their new services in competitive world.
Here are the few steps of frugal innovation that are as follows:
Generating new ideas: To bring something innovative into market, it is very much important
for an organisation to collect necessary knowledge and information so that potential outcomes
should be achieved (Alvarez, 2019). In context of Bigbelly they by conducting through research
and development can be able to come up demand of industry in proper manner.
Screening of idea: Before launching new idea into marketplace it is important to screen out in
front of experts so that they can improve in quality of it.
Testing: Testing is important to evaluate that product is up to market or not.
Internal analysis: Before come in market it is very important to acknowledge about
organisational capabilities such as about employees motivation level, organisational hierarchy
and many more (Labory, 2017).
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Review marketplace: After being in the marketplace, it is essential to identify the market
potentially.
M3 Appraise the role of frugal innovation within the organisation.
It has been analyze that frugal innovation plays very much important role within the organisation
as it helps to reach at large no. of consumers by accessing their needs and wants in most potential
manner. it is very much cost effective and less time consuming by elaborating the various ways
to provide satisfaction to the end users. In context of Bigbelly by using the technologically
advance platform that gives structure products and services to the end users.
D1 Analyze how the innovation is developed, embedded and measured in the organisational
context.
It is very much important for an organisation to put efforts in developing the innovative
products and services within the organisation. It has been analyze that there are various kinds of
modes that bring innovation within the organisation such as culture, team building and vision of
organisation. In context of Bigbelly to develop, embedded and measure the innovation respective
organisation by using the Benchmarking and provide reward to their employees to bring new and
innovative products and services into marketplace.
TASK 3
P5 Elaborate significance of commercial funnel and application of NPD in commercialisation of
innovation.
For a business innovation funnel refers to the structured framework which consisted the
three important phrases or tiers which assist in proper utilization of present goods and services to
gain potential outcomes.
Commercial funnel:
It is buying process that helps to organisations to lead their consumers through
purchasing products. It is important process by which organisation finds, qualifies and sell their
products to buyers.
Here are the significance and process of innovation funnel in context of Bigbelly.
Business potential and finding it:
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for an organisation it is very much potential to turned into business which directly related
with consumers needs. In context of Bigbelly, they find out that managing waste system and its
disposal should be utilized by using the platform that is more efficient in nature.
Getting and value chain involved:
In respective development of project, it is very much significant to hear opinions of
different people. As different opinion and skills can be best assembled while value chain is
involved in project (Five steps to successful commercialization of an innovation – can the pitfalls
be avoided?, 2020.). In context of Bigbelly, they by using network includes applied research,
technology developers,experts on raw material chain and many more in order to gain desirable
outcomes.
Clear roles and responsibilities:
In respective process to work in effective manner it is very much potential to have clear
kind of roles and responsibilities which is key to success. In context of Bigbelly while working
together, trust and open sharing of information in between people and partners is required. In that
regards they share roles by accessing skills of individuals in potential manner.
Risk management:
While developing new tools and techniques it is very much potential to moving towards
the laboratory scale innovation to full scale plant which consisted too many uncertainties. In
context of Bigbelly it is very much important to managing risk factor by using pilot tests at very
large scale.
Commercialisation:
By evaluating respective stage it has been observed that commercialisation should be
very much easy. In practice successful kind of commercialisation not rely on own actions but
also on timing and market situation potentially.
Pricing strategy: In context of Bigbelly which are market leader of waste recycling and now
come up with the platform that is completely customized and modular in nature. It helps in
raising the capacity, waste stream by connecting consumers using deploying platform as a
subscription. So in that regards they affix best pricing of offering products to their end user so
that they can avail it.
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Improvement in ways of growing business: In context of innovation funnel consist of the
business growth and sustainability of market. It has been evaluated that funnel enables to
specified organisation in satisfying their actual needs and wants potentially.
Emergence of advance technology: To amend the consumers experience it is very much
potential for an organisation to bring advance kind of tools and technology. In context of
Bigbelly which deals in the recycling of waste and now come with a customized and modular
that capture waste volume.
Process of new product development:
To develop the new products and services into the market required the full fledged
product development process that is as follows:
Idea generation: It is first and foremost step in generating new product or service in market that
can be done by conducting proper research and development (Arundel, 2016). In context of
Bigbelly by analysing problem of society as well as economy work on waste recycle.
Idea evaluation: In respective stage of product development consist of evaluate each and every
aspect in proper manner in order to gain desirable outcomes.
Concept definition: In context of Bigbelly their concept is to revise the system of recycle waste
by using the customized and modular based platform in order to gain desirable outcomes.
Strategic analysis: In respective stage with the help of strategies and tactics new product or
services bring in to market in proper manner so that organisation can attain desirable goals and
objectives.
Product development and testing: In respective stage of new product development consist of
test the idea before launching into market in order to gain better insights about it (Taylor, 2016).
Commercialisation: It is very potential for organisation to test or verify that new idea is
commercialised in nature or not. In context of Bigbelly recycling waste with advance tools is
commercialised in nature.
Product launch: In final stage of new product development includes launching of new product
in market.
P6 Frame business case for a firm by using funding.
Business case is the detailed description of both verbal or written document which
depicts the necessary information while launching new product or service into market(Lee,
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2018). In context of Bigbelly which is market leader in recycling of wastage and come with
customized and modular platform to gain optimum outcomes.
Executive summary: In business case of Bigbelly consist of bringing platform of waste
recycling that helps in gaining effective outcomes. To launch successfully in market required to
conduct SWOT and PESTEL analysis.
Mission statement: The major mission of respective organisation is:
 To save the environment by improving living standard of society.
 To satisfy consumers needs in innovative manner.
Resources: To Bring idea into practical manner there are several kinds of resources that are
funds, information about consumers, proper planning and many more.
Market analysis: Before come within market proper analysis of market plays very much
important role (Canning and Szmigin, 2016).
Way of funding: There are many ways to raise funds that are as follows:
Banks and financial institutions: It is one of most important source to raise funds, in context of
Bigbelly by raising funds from banks helps them to put one of their best efforts in bring idea into
practical manner.
Family and friends: Company also can generate funds from their family and friends but it
available in limited extent.
Crowd funding:
Crowd funding is one of most important practice related with a project or venture to raise
the small amount of money from large no. of people, typically by using the internet. It is a form
of crowdsourcing and alternative finance.
Venture capitalism:
Venture capitalist is kind of private equity investors which provides the capital to
organisations for exhibiting high growth potential for exchanging equity stake. Respective kind
of funding startup ventures or supporting the small companies that want to expand but do not
want to access the equities markets.
Angel investors:
Angle investors is an individual that invest in a new or small business venture, it provides
capital for the starts in order to expand in the marketplace. Angle investors typically the
15

individuals that possess spare cash and looking of higher rate of return in comparison to the more
traditional kind of investors.
M4 Build the innovative kind of detailed business case for gaining desirable outcomes.
Business case is one of most important kind of attribute that provides the detailed
description about the key activities that pursued by the organisation before commencing
innovation with in the organisation. In context of Bigbelly for bringing innovation in
organisation produce the business vision and mission, effectively building of team and
allocation of resources that helps to get the desirable goals and objectives from the
individuals in potential manner. by using respective attribute organisation and individual
should be able to develop the level of understanding in their mind and contributes a lot.
TASK 4
P7 Elaborate various tools that used to evolve, retain and protect knowledge and intellectual
property.
For an organisation while they work on new idea required to protect it from others as people can
copy it. In context Bigbelly they with the help of intellectual properties saves their innovative
idea from pilfer that are as follows:
Patent: Respective intellectual property is one of most important kind of tool which provides
rights to owners to prevent their product from exploring by others (Goffin and Mitchell, 2016). If
owner gives the right to visualise their innovation then it is possible that they sell their
innovation to others. In context of Bigbelly by using Patent they save their innovative idea from
others.
 Advantages: it gives right to stop other from copying, manufacturing and importing
invention without permission.
 Disadvantages: Applying for patent can be a very much time consuming process and
takes too much cost to apply it (Momaya and Lalwani, 2017).
Copyright: copyright is one of exclusive right provide to the creator of creative work to
reproduce the work usually in a specified time period. In context of Bigbelly by using respective
tool they can protect their new idea in potential manner.
16

 Advantages: Copyright gives creator the piece of intellectual property that sole right to
produce and reproduce their work. It helps to prevent the work from stolen or misused by
others.
 Disadvantages: Copyright who owns the respective tool can be able to exercise the rights
that it grants, creator of work does not always guaranteed ownership.
M4 Present the evidence based supported evaluation of different documents.
It is very much potential for an organisation to evaluate various kinds of sources to protect
their idea as it is required to pursue business in effective manner. there are number of
sources by which organisation can protect their business idea such as patent, copyright and
many more. For taking effective kind of decision it is very much important for an
organisation to evaluate the both positive and negative side of it. By evaluating respective
aspects organisation can be able to take effective kind of decisions in potential manner.
D2 critically evaluate the nature of innovation for developing evidence based judgements.
For an organisation innovation plays very much important role as it provides the profitability
and sustainability of the marketplace. it has been analyze that on one hand it is beneficial for
organisation but some employees not accept changes as innovation bring resistance that
impact on individual productivity and motivation level. So in that regards it is very much
important to analyze the nature of innovation as it is dynamic in nature.
CONCLUSION
From the above report it has been concluded that for an organisation innovation plays
very much important role in gaining sustainability and profitability into the market place. As
innovation creates value in organisational products and services, against value consumers pays
higher money for purchasing of product. With the help of innovation funnel organisation after
find out innovative idea, can be able to successfully implement into market place as it shows
definite path to go forward. It is very significant for organisation to conduct through research and
development before imply innovative idea into marketplace as it raises the possibilities of
success. For protecting innovative idea from pilfer various kinds of tools plays very much
important role such as copy rights, trademarks and patents. So it can be said that innovation plays
very much important role in enhancing market share and profitability in market.
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