Innovation and Commercialisation in Heinz UK

Unit -8- Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1) Explain Innovation and its importance to organisation with invention ...............................1
P2) Explain how organisational vision, leadership, culture, and teamwork shape innovation
and commercialisation................................................................................................................3
TASK 2............................................................................................................................................4
P3) Explain the 4P’s of innovation and explain use of innovation funnel toe examine
innovative ideas...........................................................................................................................4
P4) Explain development in frugal innovation and example used in organisation context........5
TASK 3............................................................................................................................................6
P5) Explain the importance of commercial funnel and the application of new product
development for commercialisation and innovation...................................................................6
P6) Build an innovation business case for an organisation, including ways of funding.............7
TASK 4..........................................................................................................................................10
P7)Evaluate the different tools that organisation can use to develop, retain and protect
knowledge and intellectual property.........................................................................................10
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation and commercialisation provides the new idea to the business and with this
have create as well as implement the effective change in the business working model. Innovation
is a process through which new creativity and values get added to the business that makes the
positive modification and also help to grab the attention of a large customer base. In addition
commercialisation is the process as with this the business makes the infusion of innovating
values so as to make and develop the job as well as revenue generated entity (Bagley, 2018). It is
basically a strategy that is used by the company to developing the series of financing and its
options to get work with the technological advancement. This report is based on Heinz UK that
is the food processing company and one of the most loved brands by producing the iconic
products as like beanz, tomato ketchup etc. with the great taste, variety and quality as well. The
report consist of innovation and its importance with invention, organisational vision, leadership,
culture and teamwork that shape innovation, 4Ps of innovation, frugal innovation, importance of
commercial funnel and application of new product development and tool used to develop and
retain knowledge and intellectual property.
TASK 1
P1) Explain Innovation and its importance to organisation with invention
The innovation is the process or actions that is used by the business to processed with the
new ideas and method that make an advancement in the product and services. It is used by the
Heinz to make additional implementation of the products in order to satisfy the need and demand
of customer or existing market in effective manner. In this Heinz uses this to gave the tough fight
to the competitors to maintain a lead in marketplace (Byun, 2018).
The invention is the unique method in which the overall process of development get re-
engineered in which the improvement get implement within the overall process to create the
developed services and products.
Basis Innovation Invention
Concept It implies the suitable implementation
of the appropriate ideas for the first
time to make the new product and
services.
It is refers to the happening of idea
and new thinking that is never
occurred before and helps to
develop the largest and new
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customer base.
Skills It requires the strategic, marketing and
technical set of skills that all
collectively adds up more values
within the transformation or
innovation.
It needs the scientific skills through
which new ideas get implement and
find that aid to develop the efficient
production (Davies, 2019).
Occurrence It is occurred when there is a need to
make the development in the existing
products and services.
It is occurred when the newer idea
get comes out that is as based on the
marker consequences.
Innovation and invention is somehow depended on each other as both get induces within
the business so as to make the positive change by which the market need also get stratified. It is
a procedures that make a new advancement which is based on the continuous improvements and
it is not only to look different as per the competitors but also to make something that is effective
along with better too for the marketplace. It is essential that market requirement get managed by
controlling the market challenges otherwise it is hard to fulfil the requirement in systematic
manner.
Importance of innovation
Innovation is a creative prospect with that new thinking and abilities get induced by
which the services get improvised that make the business growth of constraint and help to adapt
the marketplace change. Heinz is being the most trusted brand among household thus make
rapid innovation to attract the customer base for longer period of time and the different in
between the innovation and invention is as defined below as:
 Well problem-solving- There is a lot of competition that is faced by Heinz and to cope
up the management department make the continuous innovation and with this have
satisfy the need and requirement of market in easiest manner with the support of creative
solutions (Dezi, 2018). In this they have choose the innovation and with this make the
new change that is more affordable and easily accepted by the customers by which more
profit get gained in effective way.
 Alteration of productiveness- The PESTLE analysis of Heinz provide the evident
reflection of the basic improvisation as from which the productivity and profitability of
the business get developed and with this effective increase in sales get measured. As per
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