Innovation and Commercialisation Report: Innocent Drinks Case Study

This report delves into the concepts of innovation and commercialisation, using Innocent Drinks as a central case study. It explores the significance of innovation, differentiating it from invention, and analyzes the impact of organizational vision, leadership, culture, and teamwork on shaping innovation and commercialisation. The report examines various sources of innovation, including the 4 P's of innovation and the application of the innovation funnel. It also discusses frugal innovation and its application within an organizational context. Furthermore, the report investigates the commercial funnel, the new product development (NPD) process, and the creation of an innovation business case, including funding access. Finally, it covers tools for knowledge and intellectual property retention, development, and protection, evaluating their effectiveness within the wider business environment.

Innovation and
commercialisation

Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Innovation and its importance to firm in the comparison with invention..............................1
P2 Role of organisational vision, leadership, culture and teamwork on shaping innovation and
commercialisation........................................................................................................................3
M1 Analyse several sources of innovation, and how firm can develop better culture and
innovation....................................................................................................................................5
LO 2.................................................................................................................................................6
P3 4 P’S of innovation and use of innovation funnel to determine and shape innovative ideas. 6
P4 Developments in frugal innovation and it can be used by firm..............................................8
M2 Apply and analyse innovation funnel within organizational context....................................8
M3 Role of frugal innovation within context of an organization................................................9
LO 3.................................................................................................................................................9
P5 Importance of commercial funnel and application of NPD process for commercialisation of
innovation....................................................................................................................................9
P6 Innovation business case for firm including ways to access funding...................................10
M4 Detailed innovation case of business and measure overall effectiveness using few
techniques..................................................................................................................................11
LO 4...............................................................................................................................................11
P7 Different tools that firm can use to retain, develop, protect knowledge and intellectual
property......................................................................................................................................11
M5 Evaluation of several tool in regards with wider business environment entrepreneurs......12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Innovation refers to the formative process which is considered as helpful part for every
business to develop, creative and innovative ideas and ways for an organization in order to
execution on several methods or imaginations. Furthermore, it can analyse as the procedure
which includes several kinds of activities used by firms for undertake so many things for the
better of future. On the other side, Commercialisation refers to the procedure of developing
feasible outcomes for an organization (Ke and et. al., 2016). Through using such kind of data an
organization is able to get accurate information and convert them into end goods and services
that always accomplish the entire needs and wants of customers. This report is based on Innocent
Drink organization which was developed by Richard Reed, Jon Wright and Adam Balon in the
year of 1996 and it is headquartered in U.K. This industry provides its goods and services within
the region of Europe with estimated amount of money million smoothies for customers every
week. This business organization includes so many types of products like juices, and fruit juices
that all includes low sugar of amount in their goods. Now this firm is looking forwards to launch
its new goods that can maximise the competition within the market of United Kingdom. Product
named as Mint Smoothies will launched by this firm through using original mint flavour as per
the requirements of their customers. Moreover, this report includes overall concept of innovation
and commercial along with innovative frugal and their importance will get covered.
LO 1
P1 Innovation and its importance to firm in the comparison with invention
Innovation: It can be identify as the process which is used by firms to convert their
thoughts, ideas and opinions into business moreover, to develop best value for them. Thus,
organization can easily use this process and able to bring innovative ideas towards its goods and
services within the particular business line (Osoro, Kirama and Vermeulen, 2017). Additionally
it ensures that it will get more competitive advantages for frim that develop best outcomes for an
organization. Thus, Innocent Drinks is able to satisfy their customers’ needs and wants in as
particular manner.

Basis Innovation Invention
Concept The term of innovation always
allow firm to bring always new
ideas and thoughts towards
their goods and services that
can make their position at
marketplace better and able to
offer best products to their
customers.
Invention determines the
overall concept of new goods
and services that accomplish
the desire of firm.
Scope Innovation always comes after
invention.
Invention takes place before
the procedure of innovation.
Occurrence Innocent Drinks have broad
aspects in the term of scope as
they always able to conduct
few activities that helps them
to bring innovative tools and
techniques at workplace (Du
and et. al., 2017). With the
help of this they can occur
profit form firm and make
them productive,
It has been identified as the
initiation from the firm
towards managing overall
operations and functions of an
organization among bringing
the fresh inventions.
Skills needed There are several kinds of
skills used by Innocent drinks
in order to adopt several
policies and strategies that
help to guide their employees
in a well manner.
Technical skills are mostly
used by respective firm so that
they can easily execute on their
ideas and able to achieve
desired goals and objectives in
a best manner.
Activities The process of innovation will It refers to the formative
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bring competitive advantages
for Innocent Drinks by which
they can fulfil overall needs
and demand of customers and
achieve huge profits properly.
process that develops new
commodities for firm so that
they can modify their ideas
through implementation of
new techniques.
Significance of Innovation in Innocent Drinks:
It is essential for respective firm to take advantages of innovation within their functions
of firm by which they can get huge success at marketplace. Thus, it is more necessary for
Innocent Drink that they should get formative benefits with the applying of innovative ideas so
that they can increase the chances of business by taking step by step that helps to achieve
successful goals and objectives (Yin, Shi and Yan, 2014). Moreover, it increases the entire cost
for firm so that they can get return by their investments fund that maximise the consumer’s base
effectively. Some of the important methods are mentioned below:
Increase creativity among staffs: There are two types of techniques like expeditious and
incisive used by firms in order to maximise profit and develop creativeness towards employees at
workplace. With the help of this respective firm is able to increase their profit and satisfy
employee’s needs and wants. Moreover Through applying unique mint flavour within its
smoothies they can invent new method that increase the competitive advantages from firm and
make them effective in front of their consumers.
Increased Revenue: It is one more essential thing for firm to perform their every role and
task in a perfect manner that increases their productivity and consumer’s base effectively.
Innovation is very helpful aspect for every business to innovate their existing goods so that they
can implements on new tools and techniques within their entire process of manufacturing. Apart
from this, respective firm is able to provide their mint flavoured smoothies in several types of
ways that make their goods existing and attract ample number of customers that maximise best
return for firm.
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P2 Role of organisational vision, leadership, culture and teamwork on shaping innovation and
commercialisation
Commercialisation is comprehensively said to be as the process of introducing new goods
and services at marketplace which provides them monetary returns to them in the near future.
These products and services are developed for the customers by simply analyzing their core
requirements. As a result, by finding products and services as per their needs customers easily
gets influenced towards the goods and agrees use the services by paying required amount of
money towards the same (Uprety and et. al., 2018). With reference to Innocent Drink, it can be
that the management of this company believes in bringing innovation within their offering in
order to maximise their sales performance by simply attracting maximum number of customers
towards them. This ultimately provides support to the business entity in boosting up their
profitability in rightful manner. It has also been analysed that there are range of elements which
are been adopted by the business manager of the company in order to provide rightful shape to
innovation and commercialisation in appropriate manner. All of the main elements among them
are vision, leadership, culture and team work. These elements are specified below in detailed
manner:
 Vision: Vision statement plays essential role in the growth of the company as it is being
believed that it provides guidance to the management team as well as employees in
executing their work in rightful manner. Vision statement of the company also plays
essential role in shaping up the innovation and commercialisation in rightful manner.
This is so because; it allows company in determining the requirement of innovation and
take rightful decisions towards them in adequate manner (Clayton, Feldman and Lowe,
2018). With reference to Innocent Drink, the respective company is emphasizing on
introducing Mint Smoothies. In order to execute this innovation, it is important for the
company to develop an effective vision for the new product. Whereas commercialization
associated with the same is the same can be seen in terms of monetary valuable returns
for the same Mint Smoothies by selling them to the customers. Leadership: Leaders plays essential role in the growth of the company as it provides
guidance to the company in taking preventive measures and executing work related to
the company in the sequential manner that would help them out in attaining success
towards the same. Leadership plays essential role in the shaping up the innovation and
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commercialization as ensures that all the activities are performed in the systematic
manner. With reference to the Innocent Drink, the respective team of the company is
planning to introduce new drink named as Mint Smoothies at market. In order to execute
this in rightful manner, its respective leader emphasizes on motivating its employees by
simply providing regular based training and development session for them so that they
can get opportunity of grooming themselves at regular basis and develop their skills
which will further help them out in accomplishing the project outcome in quicker
manner. While analysing commercialisation towards the same, it can be said that here
leaders believes in motivating employees for developing their positive image at market
place which will further help them out in gaining competitive edge. This is so because;
highly motivated employees will sustain longer in the company and provide them higher
benefits to them.
Culture: Organisational culture is acknowledged as another influential element that
provides effective support in shaping up thee innovation and commercialisation. In context of the
Innocent Drink, the management team of this company believes in developing effective culture
at workplace where its employees can work freely and show up their maximum level of efforts in
the success of the company in appropriate manner. In order to do so in appropriate manner, the
company believes incorporating flexible and positive environment at workplace where ate
completely free to express themselves and show up their efforts of executing their work in their
own manner. This freedom and safe working environment motivates employees to introduce new
innovative ideas and also show up their extra ordinary efforts in organisational work.
With reference to the newly product that is Mint Smoothies that going to be introduced in the
market by Innocent Drink. It can be said that the respective manager of company goes through
Handy cultures of model so that they can easily determine which kind of culture could suit the
current scenario. The respective framework includes four main types of culture such as role
culture, task culture, person culture and power culture (Stojcic, Hashi and Orlic, 2018). Among
them all main preference is given to role culture which simply specifies that manager of the
company assign all roles and responsibility to employees on the basis of their knowledge and
experience. Adoption of this culture will raise productivity of employees which will lead to
quick achievement of organisational goals and objectives.
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 Teamwork: Teamwork can be seen as the best way that supports individual in executing
their work effectively with appropriate support of one another. It also provides effective
support to the employees in executing their work in positive manner. With reference to
the Innocent Drink, it has been analysed that the respective manager of the company has
developed an effective team who will be collaboratively working with one another so that
they can easily introduce Mint Smoothies at marketplace. In order to develop the strong
bond among team members, the manager believes in making use of Tuckman team
building theory which includes 5 stages. The respective model is useful in developing
effective team who will be collaboratively working together for executing the work of
launching the product named as Mint Smoothies at marketplace (Cano-Kollmann and et.
al., 2018). Here, innovation was effectively shaped with bulky ideas given by team
members whereas commercialisation can be seen in the increase in sales performance of
company.
M1 Analyse several sources of innovation, and how firm can develop better culture and
innovation
Apart from this, it has been reviewed that there are large number of customers along with
organization having sources that offers effective guidance for their employees so that they can
bring innovative culture and develop such kind of environment that helps them to gain profits.
Along with some of the sources are mentioned below:
 Perception: According to this source firms are able to deal with customer’s perception
among the goods and service of firm. It can be said that every people have their own
ideas and toughts towards anything that attract the offering of firm. In regards with
respective firm dealing with goods in UK management team of frim is able to produce
proper goods and services to accomplish employee’s needs and demand.
 Demographics: This is one of the best innovation sources includes these demographics.
In this it has been identified that there are so many changes can come anytime that
influence overall working performance of firm within the level of human capital,
population and many more. Thus it needed to develop innovative ideas in order to
provide goods as per the consumer’s needs, wants, demand and desires.
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LO 2
P3 4 P’S of innovation and use of innovation funnel to determine and shape innovative ideas
The 4P’S of innovation considered as a tool which is helpful for firms to develop few
improvements with brining several ideas at workplace. There are four types of parts like position,
process, product and paradigm. All these parts are used by leaders of Innocent Drinks in order to
make their process of business better. Additionally, these tools are multi-disciplinary that ensures
about high productivity and profitability of firm. There are 4P’S of innovation in regards with
Innocent Drinks, are mentioned below:
Product Innovation: According to this innovation tool firm is able to use several kinds
of ways in order to increase their product value through mixing existing products (Annesley,
2019). Innocent Drinks able to execute several methods and technology that further helps them
to increase profit at high level. This, it will be beneficial for them produce best goods and attain
targeted goals.
Process Innovation: It refers to the several kinds of several forms innovative methods
that help frim to develop more creative value of their goods in order to gain high goals and
objectives that increase the production level of firm. In context of Innocent Drinks, they always
use better production level by which they can increase their profitable values and implements on
so many ideas to attain targeted goals. Moreover, it improves the process of making their
smoothies better in a perfect manner.
Paradigm Innovation: It involves several kinds of beliefs, values, norms, theories and
many more. There are so many several modes which are used by firms in order to increase their
efficiency at high level. In regards with Innocent Drinks, this innovation includes paradigm
formative which is helpful for firm to raise their quality of their goods and services in a better
way.
Position Innovation: This innovative tool based on market segmentation used by firms
to produce their goods and services at high level. In regards with Innocent Drinks, they are able
to segments its goods and services through using such kind of tools that helps to make better
smoothies for each type of consumer at marketplace. Moreover, firms can easily find out their
best goods and services that help them to increase high profit and sales for this respective
business (Hongbo and Koffi, 2019). Thus, the segmentation of frim considered as helpful
approach that increase their profit and value within the competitive scenario of marketplace.
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(Source: Innovation Funnel, 2019)
Use of Innovation Funnel
Innovation funnel refers to the tool adopted by firm in order to bring better improvement in
firm so that they can develop best desirable goods and services as per the consumer base.
The main purpose of sing this tool by firm is to hold their market share at best position so
that they can get benefited for long period of time. With the help of long term sustainability
they can achieve targeted goals within the innovation funnel. Along with it is helpful for
firm to acquire information in regards with changing trends at workplace. In regards with
Innocent Drink they use this innovative tool in order to get new ideas and segment its
consumer’s base as their product offering. On the other side, they can plan for opting new
ideas in order to develop best ways to achieve customer’s goals. At last, there are several
changes can be opt by firm in order to make their product attractive in front of their
customers so that they can utilise their available of resources and able to achieve their
desired goals on time.
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Illustration 1: Innovation Funnel

P4 Developments in frugal innovation and it can be used by firm
Frugal innovation shows the combination of frugal outcomes, mind-set and process. It
refers to the several kinds of techniques that help frim too reduce extra cost from goods and
services in an effective manner. There are so many factors includes social, legal, technological
and political that represents the condition of external environment. With the help of using such
kind of aspects respective firm is able to gain he profit and manage their entire working functions
in a proper manner. Further it will helps frim to take better position at marketplace by which they
can get huge sales and revenue in a perfect mode. It also develops best profit for firm and makes
them attractive in a perfect style.
In regards with Innocent Drinks, management team able to develop different types of
strategies and tools in order to enhance profit and productivity. Through adding innovative goods
and services within the firm they can attract ample number of customers and make them happy.
Thus, it helps Innocent Drinks to achieve desired goals in a proper way that also helpful for them
to bring more innovation within their goods and services provided by them to customers.
With the use of innovation frugal, respective firm is able to identify their overall
functions and operations in a perfect mode. With the help of this firm can improve overall
working performance of their employees so that they can perform their task in a well manner.
Thus, the main responsibility of firm is to formulate positive relationship between employers and
workers. On the other side, respective frim is launching new Mint Smoothies for their customers
within the market of UK (Missaggia, 2019). It makes their viability at marketplace and increase
customer’s base in a proper manner. Therefore, it is essential for firm to use frugal innovation
tool that plays crucial role through developing best business ideas and sources towards
achievement of desired goals. Thus, firm is able to promote their employees as per their working
performance so that they can make better image of firm and satisfy desires and needs of people
in a perfect manner.
M2 Apply and analyse innovation funnel within organizational context
Innovation funnel refers to the process used by firms by which they can able to offer
innovative goods to their customers in a frequent manner. The main aim of using such kind of
tools is to offer best innovative goods to their customers so that they can increase competitive
advantages and able to get high profit at marketplace. Thus, respective firm can easily help their
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