Innovations and Commercialization

This document discusses the importance of innovation and commercialization in organizations. It defines innovation and compares it with invention. It also explores how organizational culture, vision, teamwork, and leadership shape commercialization and innovation. The document further discusses the 4Ps of innovation and explains the use of the innovation funnel. It concludes with an explanation of frugal innovation and its development. The subject of this document is Innovations and Commercialization.

Unit – 8 Innovations and
Commercialization

Contents
INTRODUCTION...........................................................................................................................................4
TASK 1..........................................................................................................................................................4
P1 Define innovation and identify its importance to the company in comparison with invention...........4
P2 Discuss how organizations culture, vision, teamwork and leadership can shape commercialization
and innovation.........................................................................................................................................6
TASK 2..........................................................................................................................................................7
P3 Discuss 4Ps of innovation as well as explain the use of the innovation funnel...................................7
P4 Explain the development in frugal innovation....................................................................................8
TASK 3..........................................................................................................................................................9
P5 Discuss commercial funnel importance along with the application of New Product Development
processing for the commercialization of innovation................................................................................9
P6 Create an Innovation Business Case which includes different methods of funding..........................10
TASK 4........................................................................................................................................................11
P7 Assess various tools that organizations can use to create, retain and protect intellectual and property
knowledge.............................................................................................................................................11
CONCLUSION.............................................................................................................................................11
REFERENCES..............................................................................................................................................13

INTRODUCTION
Innovation defines in the presence of techniques as a process of analyzing and generating
new ideas, creativity, and assumed. It was further understood as a method that contains multiple
behaviors in order to properly announce new feelings or opinions for undergoing stuff.
Commercialization refers to a process by which the organization formulates commercially
sustainable value systems. Using the knowledge obtained, management should be able to protect
the raw materials into finished products as per market demands (Abdul Razak and Murray,
2017). To better understand the concept of the report selected organisation Heinz. This is a UK
based company and most loved brands and manufacturing iconic products like Tomato ketchup,
cream of Tomato soup. As a trainee get new brief for company any apply the innovation in
company. The innovation agency helps to business in advertising, extensive marketing and
production. In this report consist of various topics such as innovation, invention and differences,
corporate mission, vision, leadership and collaboration can better influence creativity and
marketing. It contains, besides that, the importance of commercial funnel. In this paper, at last
strategic plan will be built and numerous tools will be considered to help raise funds.
TASK 1
P1 Define innovation and identify its importance to the company in comparison with invention.
Innovation: It is a method that businesses use to turn every concept into profit and then
execute it. Businesses use another procedure anytime those who feel like making innovative
ideas in their business operations. This is completed within these instances where consumer
demands are to be met through the use of some alternative processes. The Heinz Company carry
outer innovation of Chocolate Ketchup which is provide delicious taste to customer.
Invention: New scientific or technological concept, and its embodied or accomplished
implies. If an invention is to be protectable, it must be unique, useful and not evident. A concept
only has to be proved as workable to be considered an innovation. But it should still be
reproducible at an affordable expense to be considered an invention; therefore it must fulfill a
particular requirement.
Difference between innovation and invention:

Basis Innovation Invention
Concept Innovation is a process whereby a
organisation launches innovative
brands or any provider, and also a
scenario can arise when modifications
are introduced in current models
(Wonglimpiyarat and Chandrachai,
2016).
Invention is often a word that can
be used to apply to a method
used to launch anything entirely
different
Scope Innovation is all that occurs or arises
following creation.
There is always creation prior to
actually technology
development.
Occurrence For Heinz, doing anything creative in
their current goods is crucial because
it is a very effective method for
businesses to expand their target
market and long-term business
longevity.
Whenever a company's
management begins its
operational activities, a few other
new innovations initiate it.
Skills needed In the development of change,
besides technical knowledge, many
other skills are also important.
In the situation of an innovation,
technical competences are
needed.
Activities Innovation is distributed through the
enterprise's various operational units
(Ahmadi and O'Cass, 2016).
Invention is usually restricted to
corporations unit of design and
technology.
Factors For the apply innovation in the
company focus on different factors
like PESTEEL, Competition and
customer interest.
To apply invention require to
collect all the data from market
and focus on the globalisation
forces.
Importance of innovation

This is really necessary that businesses make improvements in current goods from
moment to time so that the business is able to compete in the sector. It is required for businesses
to succeed it is really critical that they utilize creativity as a method to increase their
productivity. Significance of Heinz’s creativity is addressed here:
Increased profit: Heinz is brand based company that work in the food processing. Innovation is
an instrument that this business uses to growing its income. In their existing products apply the
innovation Chocolate Ketchup that can be used as an innovation. It will assist in making use of
new marketing models to price their brands. It can also contribute to greater profitability for
businesses.
Creativity in organisation: If there'll be a few other technological inventions, Heinz's will be
useful to boost imagination in their corporation. It is the most enticing resource providing
innovative business edge for businesses. Almost everything innovative and vibrant will start
making potential customers buying their products from an organisation. Due to this innovation
the success of the stock's products is increasing (Ardito, 2018).
P2 Discuss how organizations culture, vision, teamwork and leadership can shape
commercialization and innovation
Innovation is defined as one of the most important factors that contribute to improving
the creative thinking of the global market corporation. The business will achieve unique benefits
by improving new products and services which will contribute to victory on the global
marketplace. With both the help of new technologies in the present environment of chocolate
Ketchup, the business will be offering its providing innovative product according to the needs.
Heinz's chocolate ketchup brings multiple kinds of innovative technologies that will enable them
to take advantage of a wide variety of business possibilities.
Innovation and vision: This has been shown that if an organization has a clear vision
they will utilize resources, capital, commitment and resources successfully to deliver new
product to the buyer. It is even said that inability on the regulated market will result if an
organization does not have a particular vision. The Heinz company have clear vision to get
leading positing in the market so for this they are innovate new product of Chocolate Ketchup.
In the company, it is important to provide visionary members that can facilitate the consumers in

executing and creating new goods. It is critical that the business will offer the finest and most
cherished services to the clients. Business should be able to gain further income profit on the
business with that same support.
Innovation and leadership: It is extremely important to also have a qualified and
knowledgeable member in order to perform business operations in an efficient and innovative
way. This helps to guide staff member on a daily basis in a constructive fashion that also results
in improvement in their productivity. In Heinz Company apply the participative leadership
theory in which leader allows to all the members in innovation. For this they provide new ideas
and help to apply innovation in effective manner. With the help of this theory motivate to all the
staff members and generate more profitability. As a result it helps to maintain competition at the
market and increase morale of all the staff members (Battistella and Nonino, 2012).
Innovation and Culture: Culture emphasizes the notion of a select group of individuals
that includes a person's culture, language, and religious. Throughout the company, there are
various forms of culture accessible that allow them to incorporate creativity into the company. In
the modern scenario of Heinz's Ketchup, it has been said that supervisors and employees are
developing such culture in the company, so that they can essentially make new technologies.
Creating trust in team members and managers is necessary for this, such that they might make
meaningful improvements. To work with a team apply the cross culture management in their
culture where provide opportunity to every type of staff member t work in innovation procedure
(Chun, Chung and Bang, 2015).
Innovation and team work: By using different kinds of modern approaches, the
organization can effectively perform organizational processes there. Sensitive information of the
organizational context is also very essential and also encouraging followers to present their
assignment better and efficiently favorable results. It is necessary for organizations and
executives to build winning players in the given firm of Heinz's Ketchup, so that they might
implement creativity effectively and deliver meaningful result.

TASK 2
P3 Discuss 4Ps of innovation as well as explain the use of the innovation funnel
This method is a per-company investment blend that requires creativity and changes in
total market goods. These have four essential components like location, operation, drug.
Creativity was something that could be done everywhere; it is an interdisciplinary method that
businesses will conveniently utilize at a certain time. If it with the aid of the employees of these
4Ps in a business, they will agree on their activities and then prepare accordingly. In the sense of
Heinz's the following facts are addressed elsewhere here:
Product innovation: Diversified methods are developed in this portion of innovation that
helps improve productivity in current options on the market. It is a process in which business
utilizes emerging technology to reinvent their commodity, and then these developments aid in
industry-wide changes. In the situation of Heinz's business, they already are engaged in food
ketchup but now they intend to make innovation and carry out chocolate ketchup to increase
taste of customers. Heniz uses product creativity by launching the Chocolate Ketchup, which
would be more practical and available to consumers, to achieve strong brand awareness and
larger product selection organization.
Process innovation: Within process innovation latest brand, when advancement is
constructed too. That's seen as an innovation in the procedure. Creating cost-effective products is
very essential with really quite businesses to expand their gross profit as well as about their
lengthy-term success. Business will also render their whole operation creative in the situation of
Heinz's, and so that can both enable firms improve their volume and also the price of the
products they manufacture (Daellenbach, Davenport and Ruckstuhl, 2017).
Paradigm innovation: The aspect in creativity comprises of various principles, ideals,
ideologies and hypotheses in upon which organization implements creativity. Heinz's is engaged
in modern developments of concept creativity and the organization is able to allow in its food.
Position innovation: Position innovation is linked to new parts of the population which
are used to deliver their goods by enterprise. There are several other distinct ways to categorize
or distinguishing their market into distinct groups that could be used by companies. Businesses
make a concerted effort to fulfill the demands of significant segment of economies. For all this

individuals help to determine who could be future buyers of their product lines and then focus
their ahead and share. Heniz company management in an organization are constructing and
executing the market strategies that would help maintaining a strong role.
Use of Innovation funnel
This is a strategy that companies implement for the development or innovation of their
goods and services. The idea underlying this phase is that the organization needs to increase the
total business sector and overall productivity. There are 3 parts in this innovation funnel that
were used to make investments.
First move is to provide a pedestal of knowledge that will allow businesses to provide
sufficient intelligence about evolving consumer patterns. Heinz's as a company will also utilize
this creative platform to create the breakthrough they want to implement in their goods, while at
the same period it can also be a weapon that they can utilize to contend with their peers and
industry competitors (Datta, Mukherjee and Jessup, 2015).
The second step in this phase is to track the latest concept which organization plans to
implement as a platform for innovation.
During the last and third step of this funnel, the team will help them in preparing;
applying and layer formed all the stages they are prepared to take in the full procedure of
technology creating. Innovation is initiated and is handled at the same time by this method
widely known as a conduit for innovation. Each organization has a specific way of using
innovation funnels which could be reconfigured as per them.
P4 Explain the development in frugal innovation
Frugal invention also recognized as frugal development refers to the method for raising
both the sophistication and manufacturing costs. It is defined as one of the most efficient
techniques that help to lower the total costs of goods by removing excess variables or phases
from the entire production cycle. This has been studied in particular that creativity impacts
various variables including financial, institutional and economic influences. Both of these
considerations have a significant effect on the financial results as well as the competitiveness of

the organization whereby they conduct their duties. It has also been established that companies
are conducting and introducing frugal creativity throughout their corporate operations so that
they can minimize their commodity costs and gain different advantages on the markets with the
aid of lower goods & services rates (Szutowski, 2019).
In the context of this discussion of Heinz's Ketchup this one has been said that it would
be possible to improve their financial performance and use this element institution. It is
necessary for the organisation to have a strong profitability in today's changing markets. As well
as this, it is the element that allows producing new solutions despite possessing inadequate
funding inside the organization. In the current sense of Heinz's Ketchup, the business is
manufacturing a revolutionary bottle that has chocolate ketchup; through increase food taste will
produce god food immediately as needed. This type of food product use by the people for the
good taste. With both the help of regularly implementing frugal innovation strategies and
procedures, companies will be able to conduct their task efficiently and effectively produce
positive results (Hausman and Johnston, 2014). They start providing their customers with high-
quality water bottles so they can effectively maintain their market share at the consumer market.
The company's key duty is to build successful and productive partnerships with its workers
together with the consumers that facilitate them to achieve respect and confidence will from the
business. This helps boost the organization's business development on the global market. With
the help of the innovation funnel most of the organization can reduce non essential features and
reduce cost to maintain sustainability. Such as, Nano Miticool apply the innovation funnel in
their organization.
TASK 3
P5 Discuss commercial funnel importance along with the application of New Product
Development processing for the commercialization of innovation.
Commercial funnel applies to the stream of all advertising and earnings. This is described
as a visual analysis wherein the consumers’ purchase system is given that they experience when
buying products and services. It was analyzed that the basic stage consists of consciousness of
the goods and services and assessment is carried out at the final phase after the acquisition. In the
given firm of Heinz's Bottle, this one has been established that in order to increase their profits,
the organization is introducing fresh and creative items mostly on industry (Qian and Haynes,

2014). Throughout the globe, they conduct their business operations with both the aid of which
they can capture ample incentive and, as a consequence, tend to increase the corporation's
financial performance. There are numerous forms of market processes which will be addressed
as chooses to follow:
Idea generation: It is seen as the preparatory stage of its development an item where business
leaders develop new approaches to improve their financial performance. Business offers
chocolate ketchup to customer to increase their taste & preferences.
Idea screening: Heinz's Ketchup marketing department determines the viability of their services
and products because of customer reaction to the container on the market. By recognizing
various management regions, it will be possible to predict whether or not item is efficient on the
global market.
Testing concepts: At this point, Heinz's Ketchup's research and development activities team is
researching needs of the customer, expectations and preferences to assistance them in producing
products and services as needed (Ke and et.al., 2015).
Analyze requirement of product development: This is the phase where the management team
creates plans as well as policy that enable them that successfully deliver new goods on the
marketplace. In the present sense of Heinz's chocolate ketchup, they are going to introduce
tasty and creative chocolate ketchup to help them boost their brand reputation in the market
place.
Commercialization: This is the last and final step that Heinz's Ketchup, including an attempt to
grab significant market share, successfully launches their creative development on the market.
As a consequence, this develops assurance that their unique and modern item will be initiated
using efficient plans and practices.
Market strategies: These Power Structures the requirement of a company’s marketing strategy
to build knowledge of current brand among population. This method would include aspects such
as place, product, price and promotion.
Test marketing: Hereby, in a relatively better audience, the intelligent trash cans created by Big
Belly will be released so that they can provide sufficient input mostly on particular model.

Internal analysis: This power structures the study of other factors in regard to the proposed item
such as revenue analysis, price evaluation alongside income prediction. They will be in line with
Heinz's Ketchup's goals and priorities.
P6 Create an Innovation Business Case which includes different methods of funding.
A business case is an oral and textual quality argument created to inform decision-makers
such that rational and successful choices are taken. It is a published text usually called a business
scenario. It is really critical for the Heinz's Ketchup leadership team to build good business plan
such that strategic decisions can be made. There are indeed number of business cases that
provide all the information with regard to the organization of the company. An innovative
business case carries out different ideas to apply new innovation in business and accordingly set
vision and mission of the business. It is different from other companies because every business
have different structure so accordingly apply the strategy and methods. To produce this case
require to set vision, mission, funding, conduct market analysis and many more.

Executive summary: It has been examined in the current sense of Heinz's Ketchup that the
firm primarily conducts its business operations on the UK markets. It is necessary for the
marketing person to achieve SWOT and also PESTLE assessment in order to trigger the latest
and creative product. Both of these help to fuel the economic performance including its
competitiveness on the dynamic business environment.
Mission statement: Heinz's goal statement Ketchup is to step up the acceptance including
day-to-day usage of recycled goods. With this support from this project business, huge numbers
of consumers are primarily drawn to their organization (Mattila, 2017).
Market analysis: It is crucial that the corporation's board of directors analyze and analyze
the entire global market in attempt to acquire numerous benefits at the global market. This has
been established in the given firm that Heinz's Ketchup is evaluating their possible rivals on the
market.
Financial projection: To deliver innovative product on the marketplace, Heinz's Ketchup
requires around £20,000 so they can effectively present their activities.
Funding ways: It is considered to be one of the organization's most important criterions to
perform each and almost every purpose in a healthy manner. In the current sense of Heinz's
Ketchup, increased provision is needed to allow them to release chocolate Ketchup at UK
market. To do this, administrators ought to raise money for the purposes that are as continues to
follow:
Bank and financial institute: It is one of the best and most successful ways of
fundraising and increasing. For this purpose, the band is asking even for particular decision
before giving them cash for a specified timeframe. Additionally, the Heinz's Bottle development
player is likely to spend a fair amount of cost.
Family and friends: Managers are mortgage modification plan from friends and family
members, relatives and friends in the current Heinz's Ketchup framework. All of this is
recognized as holders' capital, which seems to be the individual's but first simple fund income to
execute his / her market duties (Mazzarol and Reboud, 2017).

TASK 4
P7 Assess various tools that organizations can use to create, retain and protect intellectual and
property knowledge.
IP commonly referred to as Intellectual Property defines a category of property involving
diverse cornerstone of human intelligence. There are different branches of intellectual property
like licenses, copyrights, trademarks and many more. In the current sense of Heinz's Ketchup,
privileges and also property owners ought to embrace various forms of legal assets in order to
protect their creative goods which will be addressed as continues to follow:
Copyrights: It is described as one of the most important legal terms that define primarily
the authorization granted to the holder for the person's control. Through this aid proprietors have
the ability to regulate the usage of their services and goods. Registering a copyright is not
mandated but it does have someone else's benefits in terms. In the current sense of Heinz's
Container, patent will be used to safeguard their latest creative device, which would be chocolate
Ketchup, so they plan to bring it to the United Kingdom markets. Thus it is essential for the
senior management to embrace copyright because they can regulate its use of their good or
service. This will aim to safeguard the items / products against redundancy (Nabulsi, 2017).
Patents: Both these essential intellectual property rights, other than copyright, involve
patents which are frequently often used organizations, artists and several other creative people to
safeguard their creations. It has been claimed that no one should use the commodity illegally
with the protection of a license that is another's land. It has been recognized in the context of this
discussion of Heinz's Ketchup that there have been multiple perspectives with both the assistance
where both the proprietor and also another individual receive ample amount of money benefits.
These all references consequently ensure security and also documents knowledge about products
(Proff and Fojcik, 2016).
Trademark: A trademarks (also published trademarks or trade-mark) is a form of property
comprising of a measurement system, logo or phrase that distinguishes services or goods of a
specific source than those of another, while marks used to distinguish commodities are generally
referred to as registered trademarks. Such as Heinz Ketchup use this property to get secure for
their product.

Advantage: The biggest advantage of trademarks is that the name is registered as exclusive. That
implies would be the Only One from the Whole Nation in a position to sell goods and/or services
under that name (or maybe even a close relation or label)
Limitation: The trademark is also characterized as the least effective type of enforcement of
intellectual property rights, since it exists to protect promotional strategies only and aren't always
the brand itself. Trademark also should go along with other intellectual property, such as patent.
A further downside for trademark protection is that they've had to pay licensing and maintenance
fees.
Branding and open innovation: Branding Innovation is a full-service marketing agency that
specializes in ensuring the connection of regional southern California companies to regional San
Diego clients. Render based on Google Local and Google street view. Brand identity Technology
has the history of getting things completed.
Open innovation is 'its use of purposeful inflow or outflow of information to promote
innovation process, and increase opportunities for existing need for innovations, simultaneously.'
Open innovation can be viewed as the complete opposite of the conventional approach to market
dominance where internal Research and development comparative advantages to technology
development.
CONCLUSION
As per the above-mentioned study, innovation has been described as playing a really
essential role in a company's core growth. This is the approach that offers the efficient
competition with the employee's success. The introduction of original and innovative items will
enable companies to bring wide range of customers with either the help of advanced technology
concepts. Besides that, it was also suggested that frugal creativity aims to increase the overall
number of consumers by supplying them with new goods and services at competitive rates. By
using appropriate leadership style, team spirit, cultural identity and vision organization will also
be able to efficiently achieve objectives and outcomes there. Finally, it has now been established
that creative innovations would be protected in the markets with the aid of the patent and
copyright business.

REFERENCES
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