Innovation and Commercialisation Report for Bigbelly - HE07330

This report, submitted by Vanya Ivanova, examines the concepts of innovation and commercialization, emphasizing their significance for businesses. It contrasts innovation with invention, highlighting the importance of adapting to market changes and differentiating from competitors. The report delves into how organizational leadership, vision, culture, and teamwork influence commercialization and innovation, exploring the 4Ps of innovation space and the use of the innovation funnel. It also discusses frugal innovation, providing examples of its application. Furthermore, the report covers the commercialization process, including New Product Development (NPD), innovative business cases with funding, and tools for protecting intellectual property. The report aims to provide insights for an innovation department intern position at Bigbelly, demonstrating a comprehensive understanding of these business concepts and the role of innovation in achieving business success.