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unit 8 Innovation and Commercialisation - Assignment Solution

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Added on  2019-12-28

unit 8 Innovation and Commercialisation - Assignment Solution

   Added on 2019-12-28

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UNIT 8. INNOVATION AND COMMERCIALISATIONExecutive SummaryThe report is constructing with different forms of innovations and its importance in thebusiness as per the scenario of Apple Inc. and Virgin group. The report is established in order toconsider the difference between innovation and invention in an organisation. The reportelaborated as the explanation of innovation. Follow with the 4Ps required for innovation in theorganisation. The explanation of vision, leadership, culture and teamwork required forinnovation in Rebellion Developments with the frugal innovation in the company. Thediscussion on the importance of commercial funnel in the business establishment is taken intoconsideration. Therefore, the final evaluation of different tools to protect knowledge andintellectual property in Rebellion Developments are determined.1
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Table of Contents2
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Introduction3
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IntroductionThe innovation and commercialisation are important for every business organisation. Theinnovative techniques are always helpful to proceed with the work process in the businessorganisation. In this report, the Rebellion Developments is selected as an organization tofacilitate the innovative techniques in the business process. Rebellion Developments is amanufacturer of computer games and magazines in the UK said as small manufacturing unit inthe UK market (www.rebellion.co.uk, 2016). The approaches of innovations and inventions areimportant to evaluate the business performance in the organisation. Hence, the requirement ofvarious factors such as vision, leadership, culture and teamwork are needed to maintain in theinnovation procedure for organisation.Task 1 (LO1)P1. Explanation of innovation and its importance Rebellion DevelopmentsInnovation is explained as new concept that is being used by business organization fordeveloping and designing new products and services. As mentioned by Nieto and Santamaria(2007, p.370), the innovation always helps the business to maintain its reputation in the market.The customer in the market always wants to avail something new in the form of product orservices. Therefore, innovation of any product and services are important to the business tofacilitate sustainable development. In Rebellion Developments, the innovation is essential in thecontext of new computer games for the customer (www.ibtimes.co.uk, 2015). In this ever-changing era, the innovation can be facilitated in accordance with the services or the product inthe business process. For example, in Apple Inc., the continuous development of a product suchas iPod must be them in the top electronic accessory company globally (www.apple.com, 2016).In Rebellion Developments, also the chances of innovation are there to enhance the process ofthe product in the business. Per Chesbrough (2010, p.361), the facilitation of computer gamesshould produce in innovative versions. The new versions of existing computer games should beintroduced in the markets to satisfy the customer and enjoy the new experiences in the form ofcomputer games (www.ibtimes.co.uk, 2015). There is various importance’s of innovations in the business. As mentioned by Tellis etal. (2009, p.15), the customer satisfactions to avail the new innovative experiences for productand services from the existing business. For example, in Virgin group, the innovations dependupon the customer requirement for different products and consultant in the market4
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