Innovation and Commercialisation

This document discusses the concept and significance of innovation, as well as how vision, culture, leadership, and teamwork shape innovation and commercialisation. It also explains the 4Ps of innovation and the use of the innovation funnel. Additionally, it explores frugal innovation and provides examples.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Explanation of innovation & its importance to company in comparison with invention.......1
Explanation of how vision, culture, leadership and teamwork of an organisation shape
innovation & commercialisation............................................................................................3
TASK 2............................................................................................................................................4
Explanation of 4Ps of innovation and use of innovation funnel............................................4
Frugal innovation along with examples.................................................................................6
TASK 3............................................................................................................................................7
Importance of commercial funnel and new development process.........................................7
Innovation business case......................................................................................................10
TASK 4..........................................................................................................................................12
Evaluation of Different tools to develop, retain and protect intellectual property...............12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Innovation refers to the procedure which is helpful in making modifications in invention
or already existed idea concerning their products and services. It also leads to develop the
valuable customers considering the effective approaches in prominent way. It defines the
essential way in order to attract the large number of people that leads to improve their overall
performance and productivity (Vinokurova and Kapoor, 2020). The report is in the context of
Heinz, which is a Britain company and offer tomato ketchup, Heinz beans and many more and
company is developed in 1869 and located in UK and Ireland. For this report, innovation is in the
Ketchup bottles as earlier, company use glass vessels and for this, it is quite tough to easily get
ketchup but after their innovation regarding squeezy bottles as it is easy to bring ketchup out
from the container and become more convenient for their potential customers. Along with this,
the report is going to cover the concept and significance of innovation and also include
organisational vision, culture, teamwork and leadership in order to shape innovation. Moreover,
4P's of innovation and frugal innovation is described and also represent the importance of
commercial funnel considering the new product development.
TASK 1
Explanation of innovation & its importance to company in comparison with invention
Invention: It refers to the activity that leads to bring unique ideas in prominent way that
leads to develop a new thing which does not exist. Along with this, invention happens when new
idea occurs in the mind which is totally different and also leads to attract maximum number of
people towards their idea and it also leads to improve the market share of company (Liao and et.
al., 2016). For example, electricity is the invention and the products that are developed for the
consumption of it are innovation.
Innovation: It is termed as the procedure that makes effective modifications within the
existing product that leads to generate new product and commodity. Innovation is useful for the
company in order to acquire the market share and also leads to develop prominent image within
the market. In this context, Heinz makes effective changes in their ketchup bottles that leads to
replace the glass containers and become more convenient for customers.
Significance of innovation:
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Innovation plays an important role for every organisation regarding their growth and
development and also leads to attract people regarding their brand image within the market.
Along with this, it also leads to determine the importance of innovation in order to make sure
that it becomes trendier in market and also leads to fulfil the requirements of customers. Its
importance is as follows: Helpful in the growth of company: According to the perspective of specialists, it is
identified that innovation is useful for the company in order to expand their business and
operations in more significant manner and it also put positive impact on the overall
growth and development of an organisation (Sexton and Ligler, 2018). Additionally, it is
also identified that innovation procedure is helpful for the company in order to develop
positive mindset of customers that leads to significantly develop the image of company.
Along with this, it is also identified that invention is more time consuming and costly in
comparison to innovation as invention take suitable research and lot of funds whereas in
innovation organisation make suitable changes in already existing product which is not
much time consuming. Strengthen the brand: One of the essential element that plays an important role in order
to achieve success and growth for the development of company and also gain positive
image in market area. It is also identified that innovation procedure is useful in regard of
developing unique image in market and also leads to support the potential customers
regarding their brand image.
Comparison between invention and innovation:
Basis Innovation Invention
Meaning This process is concerned with
the development of new idea,
attributes and characteristics
regarding the goods and
services which is offered by
the company. Along with this,
brining innovation is useful for
the company as it leads to
enhance the consumption of
It defines bringing something
fresh and unique that does not
exist within the market. For
this, organisations also put
emphasis on making
something new that leads to
increase the product line and
also acquire huge market area
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the products and services and
improves the overall sales in
an effective manner.
(Jarchow and Röhm, 2019).
Concept Its concept is concerned with
the development of the value
of the particular product and
service and also useful in
offering particular product and
services with innovative
features and also develop
reputation of company
(Fechner and Shapanka, 2018).
This concept is associated in
order to offer effective services
to customers that already exist
within the market. It also
identified as the invention that
takes place regarding various
customer segments and also
include the effective use of
new products and services.
Activities It describe that innovation
does not have limited access as
it is dispersed in all the units
and functions of the company.
It is identified that invention is
constricted with the practice of
R&D.
Explanation of how vision, culture, leadership and teamwork of an organisation shape innovation
& commercialisation
The prime objective of each and every company is to achieve growth for the long term
growth and survival within the market. It also leads to identify the various factors that are useful
for the company in order to achieve desired goals and outcomes in more prominent manner. As
these factors include teamwork, vision, culture and leadership. It is also identified as the factors
which are useful in shaping innovation and commercialisation both that are elaborated below:
Organisational vision: It is termed as the action which is useful for an organisation in
order to bring an innovative idea for the company that significantly tends to achieve prominent
goals and targets within the given period of time. It also leads to identify that managers develop
fresh ideas and strategies including their vision and also communicate it to their employees. In
terms of respective company, their vision is to offer product with is more easy and convenient
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for customers considering their packaging as it leads to attract people and also develop value in
an effective manner.
Culture: It considers the background, language, beliefs, opinions and values of
employees which is more important for the company. In terms of Heinz, their higher authorities
lead to make sure significant demands of employees which is fulfilled with prominent potential
regarding the achievement of effective objectives (Arora, Cohen and Cunningham, 2018).
Additionally, it is also identified that organisation allow their staff members in order to engage in
the decision making procedure which is useful in bringing new ideas and innovation in
prominent way.
Leadership: It is termed as the procedure of instructing and directing people in terms of
attaining desired goals and outcomes in more prominent way. It is also described that efficient
leadership is the one that has the ability to influence and encourage employees regarding the
achievement of targets. In terms of Heinz, it is identified that leaders effectively make use of
transformational and transactional leadership which is useful in order to make employees agree
to adopt prominent changes. Leaders of Heinz, make effective use of leadership style as due to
this innovation takes place effectively and efficiently in an organisation.
Teamwork: It is important factor which is useful in meeting the targets and also leads to
achieve success through teamwork. It is also identified that effective team working is worthy in
comparison to individual performance (Cunningham and et. al., 2019). In terms of Heinz, their
teams perform effective functions like finance, marketing, operations and many more. All of
these teams are useful for the company in order to develop fresh idea and also execute it in the
market and it also leads to improve the overall performance and productivity of Heinz
effectively.
TASK 2
Explanation of 4Ps of innovation and use of innovation funnel
Innovation is the concept which is opted by organisations regarding the overall
development and growth of products and services that already takes place in market. Heinz
redesign their packaging of Ketchup bottles and also helpful for the company in order to become
easy and convenient for the consumption of product. For the, effective execution of innovation
4P's is implemented which is mentioned below:
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Product: It is identified that innovation comes in the mind of staff members whether they
belongs from lower or top level regarding the innovation of product. They prominently add few
fresh features to it in order to make product more attractive and effective for the consumption of
customers.
Process: It is effectively defined the way that leads to develop innovation and effective
deliver it in the market. It is important for the top level management of Heinz, to make effective
use of techniques regarding the production of commodities that leads to develop innovation in
more prominent manner. Additionally, it is identified that higher authority of respective company
make effective use of performance analysis technique in order to make sure the effective
execution of activities that leads to get positive outcome.
Position: It leads to make modifications in the launch of goods and services in an
efficient manner and this factor effectively takes place in terms of developing positive image of
company in order to target people (Gong and Peng, 2018). Heinz also introduce new design of
their ketchup bottles and change their packaging in order to make it more convenient for the use
of customers and also effectively use promotional techniques in order to gain effective position
in market.
Paradigm: It is considered as the analysis of various ways by which organisation leads to
execute their functioning which is concerned with innovation. Moreover, it give different angle
to company in order to take decision regarding the betterment of company. In terms of Heinz, it
is identified that they make effective use of innovation which is useful in gaining knowledge
regarding innovation and also execute their activities in best and effective way. Hence, it gives
Heinz a new angle to thing out of the box in order to develop its new product.
Innovation funnel:
It is useful in describing the steps that takes place regarding the overall development of
product. It is also termed as the management of funnel which is opted by the company in order to
develop actual innovation plan. Despite from this, it is identified that innovation funnel is useful
in better screening and also helpful in effectively shaping an innovative idea in terms of
achieving success for their new product. Innovation funnels three significant steps for the
respective company:
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 Investigation: It is the first step in which an organisation collect probable ideas in order
to develop innovation and also considered as the effective idea which is useful for
company in order to achieve quality and effective solution (Bei, 2019). In terms of
Heinz, it is considered as the company which is separately conduct examination in order
to conduct detailed analysis regarding the market and also consider the competitors
activity which is useful for company in order to make effective plan to bring innovation
in market. Development: Here, ideas that are developed screened and also need to match with goals
and objectives of organisation. In terms of Heinz, they bring innovation of the squeeze
bottles for Ketchup that becomes more convenient for their potential customers and also
leads to attract number of people which is easy to handle.
 Product delivery: It is the final step of innovation funnel which prominently decide to
bring new product in market in significant manner (Fini and et. al., 2019). For this,
company launch squeeze bottles of ketchup which is significant to execute innovation in
an effective manner that leads to develop profitability of company.
Frugal innovation along with examples
Frugal innovation refers to the process that leads to reduce the difficulties and production
cost in an effective way. In other terms, it is useful in eliminating irrelevant features from the
product that put positive impact on the overall performance of company (Belitski, Aginskaja and
Marozau, 2019). Moreover, it is also identified that frugal innovation leads to convey things
without any barrier and hurdles. It is also undertaken as the important tool which is useful for
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company in order to deliver more valuable products to their customers at low cost including the
quality. Few principles are discussed below: Engage and iterate: It is identified that old techniques of R&D is more time consuming
and flexible and it leads to develop healthy relationships with the company and also
significantly understand the requirements of customers. Flexibility: It is identified that this approach is applicable regarding the asset in order to
contribute towards development, manufacturing, services and so on (Sorenson, 2018).
For instance, Tesla make use effective use of approaches regarding its electric cars that
include aluminium instead of steel. Development of sustainable solutions: By considering the change within the business
environment, it is more important for the company to develop commodities that are more
sustainable and easy to reuse in an effective manner. For example, in 2018 Apple
develops MacBook that are 100% recyclable. Shape customer behaviour: It depicts the increment within the awareness and motivation
which is helpful in order to shape effective customer behaviour. Effective example of this
is, Care4Today as they develop suitable time table for their patients and medicines.
 Make innovative trends: Frugal innovation is collaborated with government, suppliers,
partners and rivals. For example, Heinz need to make their innovation more trendy in
order to develop their innovative product more trendy among their potential customers.
Beside from this, frugal innovation is considered as the emerging concept considering
various manufacturing industries that leads to offer cost effective products to the emerging
market. In terms of Tata Nano, in order to meet their target market area, the design team of Tata
start finding something new in order to eliminate unnecessary components in order to offer
quality products that leads to increase the sales and profitability of company and they also leads
to develop their entire ecosystem nearby them in order to help them thrive.
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TASK 3
Importance of commercial funnel and new development process
Commercial funnel is undertaken as the marketing techniques by which company identify
effective way to offer their product and also serve the quality towards their customers. Along
with this, it also leads to classify the customers in terms of their area and also spread awareness
regarding the purchasing criteria (Altaf, e Hassan and Batool, 2019). Moreover, it is the
systematic process that leads to attract people towards their commodities by identifying the
needs and requirements that can be fulfilled in an effective way. Considering the commercial
funnel the higher authority of Heinz is capable in order to spread awareness regarding the
offering and packaging that leads to increase profitability and sales in an effective manner.
Along with this, it is also analysed that for Heinz identification of market conditions is helpful in
order to improve productivity and profit of company. Moreover, acquiring knowledge regarding
the purchasing process of people is helpful in order to retain them for longer period of time.
 Awareness: It depicts the creation of spreading awareness among customers regarding
their new product and services. In terms of this, few methods include consumer attention
in order to place suitable advertisement regarding other locations and for this, effective
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slogans and images are also developed. In terms of Heinz, they significantly get
advantage of it in order to placing effective advertisement of its new offering in order to
attract maximum number of people towards its new product. Interest: In this step, customers start exploring and take their interest in order to criticise
product considering new challenges and opportunities in order to achieve suitable goals
and objectives for the growth and development of product. In terms of Heinz, they get
effective practices in terms of attracting the attention of customers in the market area. Decision: At this stage, customers make their mind in order to opt and select product
considering their purchase decision for as it includes their buying behaviour. In this,
customers get more thoughts and commitments regarding to purchase new product. In
terms of Heinz, this point includes the interest of customers which helps them in
choosing their purchasing their decisions. Action: It is the final stage as it considered as the finish line and in this action is taken
regarding their purchasing. Moreover, effective services are offered in order to engage
their action in purchasing and for this, company need to convince their customers for the
purchasing of new product. In terms of Heinz it is important for them to focus on
developing suitable arrangement in order to satisfy the buying decision of customers.
New product development process:
It is analysed that this procedure is useful in order to launch products and services
towards the effective customers and for this, NPD procedure is discussed below for the
respective company:
 Idea generation: Here, company is planning regarding the development of new idea with
the objective of attimportance of commercial
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 funnel racting maximum number of people towards the brand. In terms of Heinz, their
managers identify that glass vessels for ketchup is quite inconvenient for their customers
and due to this, they develop squeeze bottles which is easy to handle for their customers. Screening: In this, idea is developed and identified as it is reliable for the future purpose
or not as it is helpful in achieving sales and growth or not. Development of concept: As per this factor, testing is the specific concept and also focus
on the technical feasibility, designing and formalities also. Marketing strategy: It is considered as the prominent marketing strategy which is
developed with the objective to advertise their innovative idea with in the market. Along
with this, it also leads to make effective use of marketing advertisement techniques like
social media apps in order to aware people about their new brand (Jwaifell and Kraishan,
2019). Business analysis: It leads to describe the overall situation and also leads to evaluate the
acceptance of new idea within the market and it is identified by the managers of Heinz. Development: It takes place after the idea which is significantly tested by the company
and also leads to execute the innovative idea. Test marketing: Here, products are tested according to standards which are set regarding
the effectiveness of innovative idea which is measured.
 Commercialisation: It is the final stage of NPD and here, product is introduced in market
according to the planning in an effective way.
Innovation business case Organisational summary: It shows the overall development for the squeeze bottles that
takes place in Heinz in an effective manner. Objectives: For this, the basic aim of company is to enhance their customer base
regarding the level in order to raise profitability by upcoming 4 months. Mission: The mission of company is to complete the overall needs of customers in order
to achieve competitive advantage in market area. Vision: The vision of company is to become the best food association in order to offer
quality of food to consumers within market.
 Innovation in product: The innovation which is introduced by Heinz is regarding the
development of squeeze bottles which is more convenient for the use of customers.
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 Funding: In order to launch their innovative product in market it is important for the top
level management of company is to get funds and for this, they consider both internal and
external sources (Gross, 2019). It is also identified that for this, organisation select bank
loan which is more systematic and secured form of funding.
 Benefits: With the help of this feature, respective company leads to attract huge number
of people towards their brand that leads to increase profitability and sales of company.
Moreover, innovation is helpful for company in order to offer easy services to customers
that lead to develop positive image of company. Monitoring and controlling: It is important for the top management of Heinz in order to
check and observe prominent activities which is implemented by employees which is
helpful in making effective improvements within the stipulated period of time.
Sources of Funding: Bank loan: It is undertaken as the effective and secured type of funding as for this, bank
offer effective funds for company also charge effective interest along with principal
amount.
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 Government institutions: It leads to identify that government offer various loans in order
to provide funding to organisations. Along with this, it is also identified that government
institutions also charge less interest in comparison to other sources of funding (Brem,
Bilgram and Marchuk, 2019).
TASK 4
Evaluation of Different tools to develop, retain and protect intellectual property
This factor is essential for company in order to undertake effective measures for the
company considering the intellectual property rights which leads to develop, protect and retain
the image of company within the market. For this, the discussion is all about the important tools
that are discussed below:
Patents: It is referred as the combination of exclusive rights which is granted with the
help of government regarding the inventor and also considers the fixed tenure in return of
disclosing the invention which is done by company (Godin, 2019). It leads to preserve the
invention or innovation which is done by company by restricting other individual to copy the
idea. Benefits: Patents leads to protect innovator and inventor regarding the statutory life for
the respective patent. Patents also lead to offer rights to the owner of company in terms of
disposed infringement of patents.
 Drawback: Patents are quite expensive in terms of acquiring. In terms of this, it is also
acknowledged as the as the life of patents which is quite less, in terms of maximising
lawsuits.
Copyrights: It is quite similar to patents, as copyright offer the range of selective right
with the help of the significant concept. In terms of this the primary difference among the patent
and copyright is that patents leads to focus on the innovation whereas copyright is concerned
with prominent sources (Holman, Minssen and Solovy, 2018). Along with this, the creation of
this concept leads to develop restrictions for the company and here individuals are capable to
design it in specific period of time. Benefits: The prominent life of copyright in more than the intellectual property and it is
more equivalent to the life of creator in terms of 70 years.
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 Drawbacks: Moreover, it is important to make the copyright in terms of being capable in
order to enjoy the rights which should be grant. Therefore, it implies as the authorship
and not the ownership.
Trademark: It depicts the particular image and logo of company which is useful in
perceiving things for the company. Along with this, it leads to include documentation for
company and also show effective cost which is being charged. It is helpful for company
considering the effective guarantee for the offered products and services of an organisation. Benefits: It is undertaken as the legal authority and norms which is opted by the owner of
company in terms of protecting their company, its rights and suitable idea of product.
 Drawbacks: It represents the weakness and instability at the market area that give
suitable impression regarding the changes and for this, organisations must be very unique
with name as it is very time consuming.
Therefore, from the above discussion, it is identified that innovation plays an important
role for Heinz in terms of protecting their copyrights. Along with this, it is also proposed because
of the larger statutory life in comparison to other intellectual property rights.
CONCLUSION
Therefore, it is analysed that innovation plays an important role in order to attract
maximum number of people and also useful for company in their retention for the longer period
of time. Additionally, 4P's, innovation funnel and commercial funnel is useful for an
organisation in order to gain knowledge regarding the purchasing of their product and also useful
in giving customer satisfaction that leads to retain them for the long time. Therefore, it is
important for the company to make effective use of intellectual property rights like patents,
copyrights and many more in order to protect their innovative ideas.
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REFERENCES
Books and Journals
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innovation. Research Policy, 48(9), p.103709.
Belitski, M., Aginskaja, A. and Marozau, R., 2019. Commercializing university research in
transition economies: Technology transfer offices or direct industrial funding?. Research
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Brem, A., Bilgram, V. and Marchuk, A., 2019. How crowdfunding platforms change the nature
of user innovation–from problem solving to entrepreneurship. Technological Forecasting
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Cunningham, J.A and et. al., 2019. The impact of university focused technology transfer policies
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Fini, R and et. al., 2019. Theories from the lab: How research on science commercialization can
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Gong, H. and Peng, S., 2018. Effects of patent policy on innovation outputs and
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Gross, D.P., 2019. The consequences of invention secrecy: Evidence from the USPTO patent
secrecy program in World War II (No. w25545). National Bureau of Economic Research.
Holman, C.M., Minssen, T. and Solovy, E.M., 2018. Patentability standards for follow-on
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Jarchow, S. and Röhm, A., 2019. Patent-based investment funds: From invention to
innovation. The Journal of Technology Transfer, 44(2), pp.404-433.
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Jwaifell, M. and Kraishan, O.M., 2019. Exploring Elementary Students' Invention Ingenuity in
Science Labs. Elementary Education Online, 18(2).
Sexton, K.B. and Ligler, F.S., 2018. Strategies to close the gender gap in invention and
technology commercialization. Technology & Innovation, 19(4), pp.701-706.
Sorenson, O., 2018. Innovation policy in a networked world. Innovation Policy and the
Economy, 18(1), pp.53-77.
Vinokurova, N. and Kapoor, R., 2020. Converting Inventions into Innovations in Large Firms:
How Inventors at Xerox Navigated the Innovation Process to Commercialize Their
Ideas. Strategic Management Journal.
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