Innovation and Commercialization: Report on Business Development

This report provides a comprehensive analysis of innovation and commercialization within a business context, focusing on Essence Drink as a case study. It explains the relationship between invention and innovation, examines different sources of innovation, and discusses how management can foster an innovative culture. The report also clarifies the role of administrative vision, leadership, culture, and teamwork in driving innovation and commercialization. Furthermore, it explores the 4Ps of innovation, the innovation funnel, frugal innovation, and the commercial funnel. The report also touches upon building a commercial case for innovation, evaluating corporate innovation performance, and assessing tools for protecting intellectual property. The report concludes by highlighting the importance of continuous innovation for sustained competitive advantage.

Innovation and
commercialisation

Table of Contents
Innovation and commercialisation..................................................................................................1
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
P1Explain the creation and regulate its position to the administration in contrast to invention. 3
M1 examine dissimilar bases of innovation and how administration can stand-in and progress
the atmosphere and culture..........................................................................................................4
P2 clarify how administrative vision, leadership, culture and team work can form the
innovation and commercialisation...............................................................................................6
P3Explain the 4ps of invention and clarify the usage of the innovation Funnel.........................7
P4Explain growth in frugal innovation and deliver samples of how it is used in an
administrative background...........................................................................................................8
P5Explain the status of the profitable funnel and the submission of the Innovative products
expansion.....................................................................................................................................9
P6Build an invention commercial case for the administration including conducts to admittance
funding.......................................................................................................................................10
M4 shape a comprehensive invention of the corporate case which comprises to quantity its
general efficiency by means of suitable methods......................................................................11
P7Evaluate the dissimilar tools that administration can used to get advance retain and defend
information and intellectual property right................................................................................12
M5 extant reinforced suggestion- built assessment of these dissimilar tools in the background
of the broader commercial organisation....................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
The innovation as well as commercialisation is the process of transforming the ideas,
knowledge as well as inventions into the greater wealth for the individuals and the business or
the societies at the large. As well as commercialisation is also the subset as well as this is also a
wider process of the innovation. Apart from this innovation as well as development both of the
development as well as application of the new products, process or the services refers to the
attempt of the profit through the innovation and sales of the new products as well aa process and
service (Cappiello, Giordani and Visentin, 2020). The commercialization also get refers to the
several attempts for the profit through the innovation sales and use of the new products,
processes as well as services. This innovation and commercialisation are also important for the
company that can be get concluded within the innovation that get contribute within the
organizational context in several ways. This will also get increase the organisational productivity
as well as growth to the satisfaction of the employee as well as trends of marketing and
everything. Now in the respect of company essence drink to produce a report to provide
information about the innovation and its process of the innovation development these things will
be further discussed within the report.
MAIN BODY
P1Explain the creation and regulate its position to the administration in contrast to invention
The innovation is simply means coming up with new ideas of doing things, this bringing
innovative into the business can be helpful for the saving time as well as money, and provides
essence drink the various competitive advantages to grow and adopt within the business of
essence drinks inside the market place. Apart, from this innovation is generally will refers to the
process changing or creating the more effective ideas in its products and services
Moreover, the inventions can be patented, as this get provides the various security and safety to
the investors, to their intellectual property rights, this also helps to get recognised an actual

invention, this also can be the new process of get producing the new products and may also
induced the improvement among the product and the newly launched products.
Innovation is really important for any of the organisation, as this is really important for stand into
the market place as well in front of the competitors. Whenever, the new product is being
launched to the new company, the people is become more conscious than before and at the same
time organisation will be also get conscious, due to organisation essence drinks wants to edge
over its competitors within the market and get tries to manage their image within the, market
palace as well as there are role and image, vision and mission by innovation the product into the
month or a year. By the innovation an organisation will have its better market share and will be
capable to make better productivity due to company essence drinks new innovation
But sometimes innovation is not enough, sometimes companies also do focus on their technology
in rather than focusing on problems of the customers. but within the order to truly convert the
ideas into the changing world the innovation sometimes as great factor that must be taken within
the consideration (Chege and Wang, 2020).
So, this can be stated that innovation is not the same thing as invention, as these are the two
dissimilar concepts. Both of the activities will get need the huge capital investment within the
research process of the company. Furthermore, the invention has been done when something new
within the world is get discovered, while innovation is all about the presenting in an appropriate
and effective way of using producing as well as distributing something to the customers.
M1 examine dissimilar bases of innovation and how administration can stand-in and progress the
atmosphere and culture
Innovation has become the most important thing for the industry of 21st century, there are
the several emerging businesses has been getting provided that innovation can be the way to the
top for the essence drink as the company also innovated new product line of mango lassi that is
become favourite one for the customer since many years. Many of the company like essence
drinks is get using these terms for the innovation and improvement of the company.
As now according to Peter. F. Drucker, there are seven sources of innovation

The unexpected- when there is something unexpected that will happen to the company for
rule out. This is related from the learned behaviour. Moreover, this has been get analysed the
failure that is become unexpected that get find an opportunity to get innovate there are and also
get overlooked as finding the opportunities for the change in the product line of the company.
Incongruities- when there will be the need within the incongruent with the supply of the
products, because they are getting involved within the innovation of the new product line, due to
they are get operating within the way for doing the particular things as well as functions. Within
the attempt to get resolve the existing incongruities of the people that might be get resolved
within the innovation of the product and services.
Process change- This is get related from the sources of innovation that is more task focused
rather the focused situation. There are the sources of the opportunities for the innovation that will
become come after looking the product closely as the process of the company that will get
recognised clearly within the week as well as they can get spot in the way that they can be get
improved. As knowing the task what the weak links and after some of the detailed evaluation of
the capabilities of the company essence drinks, as well as the team will be get able to get create
the more effective as well as innovative solutions for the company
Industry and market structure- The industry as well as market strictures that can be get stable
for many of the years, now because of the technology development, many of the industries that
can be get disrupted in almost overnight, the change within the company that get opens the
market for the company essence drinks to ample the various opportunities after the innovation of
the products. As well as the leader of the company also will also keep their eyes on those of the
changes and get to the threats but they will get more like the opportunities (Cunningham, and et,
al 2019).
Demographic- The company essence drinks are also get affected within the other way by
doing some of the changes within the demographics. These are the changes can get affect to the
market as they get determine the demands of the customers for the particular products as well as
services, what are the preferable choice of the customers who is mostly buying their drinks as
well as mango Lassi and what are the quantity of buying those of the products. As well as the
demographic changes in the age, education as well as employment that get impacts the direction
of the particular business and helps to get open the new opportunities for the company, if this can
get manage to properly get recognise the opportunities.

Changes in perception- within the years there are some of the significant changes in the
way of the people that can get perceive the world, due to the perception of the people get
changes over the time as well as now a days there will be the involvement within the technology
as well as the power of the social site networks, these are the changes that will get happen faster
than in comparison to ever. The people can also change within the perception about some of the
products, brand as well as industry over the night. The changes within the perception can open
the gateway for the business for the innovation, to get develop the new things as well as new
product line within the company that can get align the new perspective of the customers.
New knowledge- the new knowledge can also be the new sources of the innovation, that is
either the nano- technology, bio- technology as well as artificial intelligence, the new knowledge
within the any area is the source of the innovation as well as new knowledge behind the products
as well as services. however, the new knowledge can get applied in every of the aspects of the
companies from the learning more about the customer by the help of customer analytics to get
improving their supply chain of the business to get hiring the best employee inside the company
essence drinks.
P2 clarify how administrative vision, leadership, culture and team work can form the innovation
and commercialisation
The main purpose of the innovation is generating of the new ideas. As well as innovation
will get helps to get realise the innovation and get help to decide the new thinking and its
implementation within its new product line. The main aim and objectives of this innovation and
invention as to get commercialise the new services as well as products (Del Bosco, Chierici and
Mazzucchelli, 2019)
Commercialisation is the process of the aggregate to all of the companies that encompasses all of
the areas of the innovation as well as the future objective as well as goals of the organisation. as
for example the company Essence drink have the vision to get provide the best drink to its
customers. for this process they need to get innovate the latest idea of thinking about the existing
products or the newly fresh products, then company essence drink have to invent the ideas and
will get thinking about finally commercialise product within the market palace. This is the
unique way to get enter within the new market palace. Therefore, the vision of the company
having the great influence on the invention as well as innovation process.

The leadership is the process of organising the company in accordance to the goals of the
organisational objectives and then will get becoming success as well as predetermined in the
regulation as well as behaviour of that particular company. Also, there are different types of
leadership method that is autocratic, democratic as well as participative. The essence drink
company have been adopted the participative leadership style for their organisation, due to the
organisation leaders are the pathway as well as aggressive to get obtain the qualities by using the
leadership process of essence drink that may be successful.
The organisational culture has the collective value, norms as well as attitude of the employee.
The culture may be get shaped by values of countries as well as attitudes. Moreover, the
organisational culture is get adopted that, may be get valid for the one country. So, the difference
of the culture has a great impact on the process of innovation and commercialisation.
P3Explain the 4ps of invention and clarify the usage of the innovation Funnel
The innovation is also get done by the process in which the organisation will get creates
the ne ideas and thinking and ‘’ new product development. The 4ps of innovation mix will be
discussed is as follows-
Paradigm- this is the planned way in which the organisation will faces the changes pf
being taken the innovative ideas as well as thinking as the process of how the organisation do all
the jobs in the terms of doing their jobs by the help of facing the new challenges as well as
threats. The changes can be radical, but not all changes are always providing a positive impact.
This will get includes the changes within the business model of essence drinks.
Product- this is the main things that is offered by the customer, that will be get valuable
for the organisation, if they are able to get add the value of the organisation. within this way they
can get improve the product that is know as the random changes. However, the product will be
made it completely different from other. This is also known as radical changes
Process- This is the way in which the various product get provides to the customer. This
does not get include the process of preparation process of the product as well as services. This
also includes every step, such as supplying, hiring of people, and training of the employee
(Freixanet, and et., al2021)

Position-position is get related from the own perception. This is a psychological type of
category as well as the promotion that is just one of the process within the organisation that get
impacts these aspects of the innovation.
Innovation funnel;
This is the mechanism is get related from the continuous stream of the ideas that can be
screened before the viability. This is also getting to known as the funnel management process.
The innovation Funnel is the popular strategy for the innovation that is get used by many of the
companies that is used to get create an innovative as well as realistic planning
P4Explain growth in frugal innovation and deliver samples of how it is used in an administrative
background
As the process of the frugal innovation get discovers the new models of business that
reconfigures the value of the products to get serve the users face for the extreme availability as
well as affordability that get constraints within the scalable as well as sustainable manner. This
also get involve the way of overcoming or get tapping the institutional voids as well as resources
to get create more unique market for the company essence drinks
Frugal innovation is important because of the following reasons discussed below-
Lacklustre-This will get depends on the growth and cutting the funds in order to get
reduce the debt within the developed economies that will get increase the demand for the frugal
products as well as services of the frugal innovations and its processes
Environmental constraints- This get depends on the climate, energy water as well as
other resources that get increase the demand for more of the frugal models of the production as
well as consumers
New technology- This is the platform that generally get reducing the cost of some of the
forms of the innovation that will get creating the huge as well as new opportunities for the frugal
innovators.
Example;
The company essence drinks are innovated mango lassi for their customers belongs to any
society. This is the process of frugal innovation because the customer from anywhere in UK have
different preferences as well as demand and choices but the essence drink is offering the same
product for every customer of UK.

P5Explain the status of the profitable funnel and the submission of the Innovative products
expansion
Another name of commercial funnel is related from the sales of funnel. As well as the
commercial funnels will get demonstrate the journey of the customers in relation to its products
as well as services. There are five steps of the commercial funnels are;
 Consideration
 Preference
 Purchase
 Opinion
 Awareness
The commercial funnel is getting responsible for its visually signify the journey of the customers
as there by showing the process of sales that gets start from the awareness as well as action. The
main importance that gets lies with the marketable funnels is as follows that get induce the
awareness of the customers as well as get identifying their problems through get finding the
individual solution to those of the problems by simply the use of an email campaign as well as
social media marketing. This additionally effects that are get made to increase the interest of the
customers to make sure that it even gets decrease within the prospects of the customers, the sales
have been get increase. This led to the close understanding of the process of the innovation as
well as the commercialisation that get ensuring the competitive advantages within the
market(Hutahayan and Yufra, 2019).
As well as the Multimedia platforms that have been wider will get carrying out the successful
promotion as well as the process of distribution. This has been made really easy to get access to
get funding as well as resourcing used by the commercialising for the whole process in an
effective manner. Some of the important steps that get includes the generation of the ideas,
screening of ideas as well as access to the funding as well as resources to get help and develop
the concepts of marketing strategies in essence drinks in an effective manner. Moreover, the
development of the product in an effective business analysis the products are get fully tested by
the employee before the launching of new product within the market place.

While the adopting of the new products development the commercialisation funnel as the
organisation that will get able to get drive the products into the market by building the innovation
of the case of the business. moreover, the testing and the iteration routes within the market
testing are giving the importance in the process thereby leading to the successful market launch
(Hwang, Choi and Shin, 2020).
P6Build an invention commercial case for the administration including conducts to admittance
funding
This is one of the difficult aspects within the innovation that is making the case of business.
the good case of business for the concept of innovation that needs to get show the areas of the
clear debate not for recovering also the unknown attempts to qualify as well as quantify them as
well as best things they can see with them with the imperfect information to its hand (Ma and
Guo, 2020) This will also need to make sure the conclusion in order to get reduce down as well
as more encouraging parts. Therefore, they can get allow the ideas as well as concepts to get firm
up as well as stand the tall and can be seen for them by their actual merits
Apart from these, to get work easily done within the organisation they could surely get enlist
the requirements that can surely make the innovative case of the business. by this way company
the essence drink company that is being able to get measure its performance and also get deliver
the idea of their future task. This is an innovative business case of the organisation that should
include the development of the product process, pricing strategy, awareness of customers
 This has to get develop the offering. This also can get modify the products by adding
the more effective feature into the products
 To get earn the huge revenue as well as organization should get set the reasonable
prices to its targeted customers
 The promotional activities are the major aspects of the organization that can get
create their own brand image and also get lead the generation that works within the
organisation.

M4 shape a comprehensive invention of the corporate case which comprises to quantity its
general efficiency by means of suitable methods
This will be building the innovation of the business case that gets offers the unique
approach to get handle one of the real difficult areas within the innovation that will makes the
case compelling
This will get knowing the issues that get reduce sometimes noise and distraction and get making
the professional case that needs to do get attract the commitment to the project of working upon
them.
This as systematic models that will get through, this will take the business case through some of
the structured step by step approach that will make capable for the arguments that is get based on
some of the facts and figures to get build and grow the challenges
This business evaluation is get obtained and provides the consistency of the approach through the
clear process is as follows-
 This will get offer different types of products as well as creativity tools to get start
the process as well as get structure the information on the comparable basis as
well as get clarifying sometime the different definition of the success that will get
provides the some of the recommended guidelines to the individual that is making
the case of the business.
 Then this will move to building the business case as well as preparation of the
cost and get benefits as well analysis for get determining the opportunities of need
factor as well as analysis for get accessing the stakeholder interest to get
accessing the uncertainties
 The next factor is get considered as the making the clear assessments of its
competition as well get outlining the difficult moves that to be considered within
the market competition, the ability to get execute and what are the business model
that does not of the business case that takes to get provides the fit as well as get
attract with the commitment of the business.

P7Evaluate the dissimilar tools that administration can used to get advance retain and defend
information and intellectual property right
The main motive of doing innovation is all about representing the new product as well as
service of the market. Now, in order to keep within the now a days competitive market, the
innovation is required for the essence drinks business organisation. Also, the innovators are well
competent really well enough to get satisfy the needs of consumers that will get remember to the
firm to be a trustworthy market. This is also considered as such as resources that is really very
much essential to be within the existing business world. Therefore, the customer satisfaction is a
major key tool for get attaining the success within the world of business. some of the tools that
can be used for get developing the understanding and knowledge of intellectual property right.
By get developing the knowledge that it gets understand for the improvement of knowledge
within the organization essence drinks (Lichtenthaler, 2020). As well as in order to exist within
the market as for the smooth running of the organisation essence drinks. This is really getting
necessary to get develop the existing knowledge through several session as well as training of the
organisation. for retaining the knowledge as well as intellectual property right. General idea is
become valueless if this cannot get preserved properly as well as implemented in the terms of
necessities. Apart, from this to handle with ever changing market, it should be must the
knowledge of handy tools for the survival of the organisation. however, forget presenting the
gained data as well as information to the patent and trademark for the further reviews as well as
further searching that get helps to create the lawful awareness between the companies by the help
of establishing patent, trademark, copyright will make an organisation to get use the legal system
for protecting the intellectual property right.
M5 extant reinforced suggestion- built assessment of these dissimilar tools in the background of
the broader commercial organisation
There are different tools within the organisation that could get utilised by the several
businesses to get develop the knowledge and for safety and privacy concern of the business and
its products. As for protecting the products there are some of the certain tools is as follows-
Patent- patent get utilised for the purpose of the saving and protecting the inventions as
well as gain improvement that have been taken place within the products of the business of
essence drinks. Inside the case of essence drinks this will get safeguard its product as well as
business.