Innovation and Commercialisation in Oven-fresh Bakery

Innovation and
Commercialisation

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Comparison between innovation and invention.....................................................................3
P2 Organisational vision, culture and teamwork to shape innovation and commercialisation...4
TASK 2............................................................................................................................................6
P3 4Ps of innovation and use of innovation funnel.....................................................................6
P4 Developments in frugal innovations......................................................................................8
TASK 3..........................................................................................................................................10
P5 Importance of commercial funnel and the process of new product development...............10
P6 Innovation business case for organisation involving various source for funds...................12
TASK 4..........................................................................................................................................13
P7 Different tool to retain intellectual property for longer period............................................13
CONCLUSION .............................................................................................................................14
REFERENCES .............................................................................................................................15

INTRODUCTION
Commercialisation is the process which is used for launching new product, service or
process in the marketplace. Innovation is treated as subset of commercialisation in which
changes in existing products are inhaled so as to make changes in them and to launch same in the
market for attaining higher base of customers (Ales, Cho and Körpeoğlu, 2017). Higher risk is
involved in the process of commercialisation as this deals with new market area. On the other
hand process of innovation is lesser risky in which only modifications are introduced within
existing products in the same marketplace. This report is explaining detailed analysis regarding
innovation and commercialisation in the background of Oven-fresh bakery which is a bakery
founded by Mr. Wilbur and the company is selling only a single type of white bread to their
customer from last 5 years. The major objective of making this report is to examine concepts of
innovation and commercialisation process by upgrading features and product in direct manner.
Besides this the report highlights regarding process of innovation and usage of innovation funnel
in order to meet significant changes in the product.
TASK 1
P1 Comparison between innovation and invention
Invention: This is a process in which fresh ideas are being propounded and implemented
by the organisation. This enable the organisation to adopt various changes in order to intensify
their chances of survival within marketplace. Invention is the process of developing new product
by which ideas are gathered in order to attract new customers. For example Oven-fresh bakery is
introducing cookies in which the company is trying to grab new market opportunities
Importance of invention: Invention is helpful for the organisation in order to bring new
feature in the products. So this becomes easier for the management to satisfy needs and demands
of customers. The demand for healthy food are increasing in regular manner so by preparing
healthy cookies Oven-fresh bakery can attain competitive edge within marketplace (Teece and
Leih, 2016)..
Innovation: Innovation is one of the prominent activity which is used by organisation in
order to attain better position in the market. The major objective of innovation is to understand
needs and demands of their customer by which sustainability of the organisation within market

get enhanced. For example: Oven-fresh bakery is making cookies which are made up of oats ad
their major ingredient so this may improve overall market position of the company.
Importance of Innovation: For Oven-fresh bakery management is required to implement
innovation in their current offering in order to boost their sales and attain distinct position in
competitive market.
To gain competitive edge: With the help of innovating Oven-fresh bakery can attain
competitive edge as by expanding their product line the company can enhance position in
competitive market.
Fast recognise of customers’ expectations: Innovation is helpful for businesses to
satisfy needs and demands of their customers. This becomes easier for the organisation to make
customer prone products so that to enhance profitability (Byun, Sung and Park, 2018).
Comparison between innovation and invention
Invention is defined as the prominent function in which new product or process is being
introduced. The major benefit of invention for Oven-fresh bakery is to deal with needs and
demands of their customer in appropriate manner.
Innovation is the process in which modification are introduced within existing product or
process in order to boost productivity and overall efficacy of the business. This may help Oven-
fresh bakery to enhance their productivity and efficiency as well.
P2 Organisational vision, culture and teamwork to shape innovation and commercialisation
Commercialisation: Commercialisation is defined as the process under which new
product and services are being represented within marketplace. For implementing
commercialisation process Oven-fresh bakery is using prominent strategies so that to
successfully represent their products into market.
Vision of Oven-fresh bakery: Oven-fresh bakery is a engaged in manufacturing of
white bread from last 5 years to their customers. So the vision of the company is to enhance their
sustainability within marketplace and retain invention in their products so as to attain top
position within marketplace (Uyarra and Ramlogan, 2016). By using specific changes the
company can utilise strategies in such a way that they can meet with their primal objective of
enhancing customer value and sales as well.
Leadership: Leadership is defined as the ability which can be used by business manager
and leaders in order to guide and influence people in such a way that organisational goals and