Innovation and Commercialisation Report: Business Strategy Analysis

This report provides a comprehensive analysis of innovation and commercialisation strategies, using the Oven Bakery as a case study. It explores the importance of innovation, organizational vision, leadership, culture, and teamwork in shaping innovation and commercialisation. The report delves into the 4Ps of innovation (product, process, position, and paradigm), the use of the innovation funnel, and developments in frugal innovation within an organizational context. It also examines the commercial funnel, the application of New Product Development (NPD), and the creation of an innovation business case. The report concludes by discussing various tools for retaining innovation ideas, such as patents and trademarks, offering valuable insights for businesses aiming to stay competitive and relevant in the market.

Innovation &
Commercialisation

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK 1............................................................................................................................................4
P1 Innovation and its importance................................................................................................4
P2 Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation. .....................................................................................................................5
TASK 2............................................................................................................................................6
P3 4P's of innovation and the use of innovation funnel..............................................................6
P4 Developments in frugal innovation with respect to organisational context...........................7
TASK 3............................................................................................................................................7
P3 Commercial funnel importance and application of NPD.......................................................7
P6. Innovation Business Case.....................................................................................................8
TASK 4............................................................................................................................................9
Various tools for retaining the innovation ideas.........................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation refers to bringing up a new idea and work up that idea to come up with
something new. Innovation has become a necessary for the industry as it helps them in
maintaining the competitive advantage through the production of new products and services. It
enables the organisations in discovering the new opportunities and explore them. It has been
observed that innovation brings progress in the environment. For example the technological
innovation at a particular place or region would help in making it developed. For reference
purpose this report has taken an example of a bakery, Oven Bakery which from the last five
years is only selling the white bread to customers. This has curb the innovation and the flow of
customers in his store.
This report discusses about innovation and its importance in an organisation. It also
includes the range of innovation and the methods which an organisation can use to protect their
ideas for innovation.
TASK 1
P1 Innovation and its importance
Innovation refers to the process in which something new gets developed. Of there would
be no innovation, there would be no progress. Innovation is necessary for any organisation as it
enables them in bringing up the required change in the products or services offered. Any
innovation done has its impact upon the economy (Du and et al, 2017). Innovation focuses upon
bringing more creativity and build up something new which one other organisation or person has
come with yet with the use of available resources. The following are the importance of
innovation in Oven Bakery:
Helps in growth: The growth of companies get better when they bring up the innovation in their
operations, products or services. Through innovation the company can bring up the new products
or services in market from which the customers would get attract. It also helps the business in
increasing its customer base as new customers or audiences would also get attracted by their
innovative idea which they have implemented in their product or service.
Maintain relevance: The innovation helps an organisation in maintaining the relevance of the
organisation to the market scenario. As in the case with Oven bakery which only produces and
sells the white bread in the market scenario where the consumer demands are shifting from

various other types of breads like multigrain bread, brown bread, whole wheat bread and so on.
By selling only white bread in the market the Oven Bakery has lost its relevance in the market
place (Eberhardt and et al., 2017). Therefore innovation would help the bakery in bringing back
the relevance of the bakery back into the market. The bakery can bring relevance through start
producing and selling the various types and variety of breads in its shop like brown breads,
multigrain bread, wheat grain bread and much more.
P2 Organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.
The organisation vision tells about what an organisation has planned for itself to become
in its future. The vision for Oven Bakery is to provide the taste satisfaction by providing the
healthiest products to their customers. As the vision aims for the long term objective for the
organisation, bringing innovation is a must. Through the help of innovation only the organisation
could be able to achieve their desired objectives. The vision which the bakery has set for itself
can only be achieved when they would go with the contemporary business environment.
The right kind of leadership would help the organisation in knowing about the need to
bring innovation. A leader is a person who would be influencing the employees to bring the
required change in organisation. Therefore it is the duty of a leader to analyse the need for
change and bring that required innovation in its system (Henttonen and Lehtimäki, 2017).
The Culture of an organisation should be that flexible that it can absorb any innovation
done in it. For example in the case with Oven Bakery the culture of the store should be such that
they welcomes the innovation which are done are brought up in the product. The culture of an
organisation must encourage the creativity and innovation which the organisation is planning to
brought up into its operations or system.
Teamwork refers to the collaboration of individuals in a group which would lead in the
attainment of a desired objectives. If the employees of the organisation are very supportive and
hard working it would lead to the bring up the innovation with more ease and feasibility. The
supportive team work would help the organisation in implement and give the required
suggestions about the innovation to them.

TASK 2
P3 4P's of innovation and the use of innovation funnel
The 4P's of innovations are:
Product: In the product innovation the required innovations are done in products. Innovation can
be done in existing product through some addition in of features or by bringing up a whole new
product into the market. The Oven Bakery can bring the product innovation by producing and
bringing up the new varieties of breads at their shop.
Processes: The process innovation is a type of innovation in which the organisation brings up
the creativity in their operational activities. By doing so the organisation can bring up the
effectiveness and efficiency in their operations with less cost and more results. As in the case
with Oven bakery they can adapt the new technology in their production system so that the
organisation can get more productivity (Ke and et al., 2016).
Position: This is more a psychological category decided by the organisation about where the
organisation wants to see or position itself at the market. They can set their positions through the
quality of product offered by them, price set, policies of the store, platform where they are
available and much more.
Paradigm: This is some different innovative platform. In this the innovation can be brought at
the type of catering which is provided by the Bakery, innovation in packaging, services rendered
and much more.
Innovation funnel is the process which entails about the action plan taken by the
organisation in bringing up the innovation in its system or product. The funnel goes through the
three stages. At the first stage the organisation would take all the possible ideas. The more ideas
an organisation could develop would result in more innovation in the product. At this stage the
organisation tries to gather maximum amount of information so that they can bring innovation
properly. At the second step, the ideas which the organisation generated goes through the
screening process. In this step all the ideas are evaluated and get analysed about their feasibility.
Only those ideas are taken forward by the organisation which are feasible in their working. At
last in the third step the company executed the ideas which they have screened in previous step.
They anticipate the plan related to the required innovation (Stojčić, Hashi and Orlić, 2018).

Innovation Funnel
P4 Developments in frugal innovation with respect to organisational context
Frugal innovation is a process through which an organisation can implement the
innovation. The Oven Bakery needs to bring up the innovation in their products as they have to
introduce new and innovative variety of breads like brown breads, whole grain breads,
multigrain bread and etc. Therefore to bring up this product innovation the company can take the
help of this innovation funnel in which the organisation would be first collecting the ideas about
the product innovation which they can bring into the market place. After collecting all the ideas
about the varieties of bread the company can manufacture, resources and budget available they
conduct a screening process in which they list out the ideas which are not feasible. For example
the Bakery can adopt the idea for carrying out the less production for white bread which more
production for other variety of breads. At the final stage the Bakery would be implementing the
actions and the plans which they have decided for their operations.
TASK 3
P3 Commercial funnel importance and application of NPD
Commercial funnel states the process through which a customer undergoes right from the
creating an awareness about the product till the purchasing of the same. The funnel has the 4
process and believes that a customer before purchasing a product went through these steps. The
processes are Awareness, in which the organisation educates the customers about the product.
Second stage is Interest, in which the customers through the product features or advertising
method shows some interest in the product and research about the same more. After the research

the customer generates a desire to acquire that product. At last he takes the action by finally
purchasing it. The commercial funnel is important because:
Generates the awareness: The company through the use of commercial funnel can generate the
awareness among the customers or targeted audience about the innovative product which they
have planned to brought up into the market (Wang and et al., 2017). This helps in increasing the
customer base for the company.
Increase in sales: The customer funnel is also helpful in increasing the sales for the company as
they educate the customers about their innovate products. By grabbing the knowledge the
customers would be getting attracted to the product and may can buy it.
New product development consists of the steps which are taken under account for
bringing the innovation into the product. The steps may include:
Generation of new idea: The idea about producing varieties of products get generated.
Screening: At this step the ideas which are generated gets through the screening process in
which the feasible ideas are taken forward.
Concept development: At this the feasible ideas are developed further for bringing the
innovations in the products.
Marketing strategies and business analysis: In this the organisation develops the marketing
and business strategies to implement the innovative product into the market place.
Development and testing: The product later gets develop and then are tested in a particular
market.
Commercialisation: The product which is developed by the Oven Bakery is now ready to go
commercialise in a bigger segment of market.
P6. Innovation Business Case
STEPS DESCRIPTION
SUMMARY
The oven Bakery is planning to bring innovation in their product by
producing the new varieties of product in the market place as their
bakery is becoming obsolete by selling only white breads.
OBJECTIVES The objective of Bakery is to bring the product innovation
SOLUTION The company is bringing up the required change so that they can start

the production of varieties of breads in their bakery.
RESEARCH
The organisation has performed both the internal and outer research
about the ways in which they can establish the innovation in the most
feasible way.
FUNDING
The organisation has to plan to take the loan from bank so that they
can pursue further in the implementation for their innovation
planning.
BENEFITS
This would help the organisation in establishing themselves again in
the market place as by providing the products which are relevant to
the market.
TASK 4
Various tools for retaining the innovation ideas
The various tools are:
Patent: In Patent the organisation preserve the right for the production of the product.
The patent would reserves the right for production that only that organisation can produce that
product for 20 years and no other organisation would be allowed to produce the same product as
the organisation is producing (Zhou and et al., 2018).
Trademark: Through trademark the organisation preserve some of the part for their
production or other materials by themselves which no other company is allowed to copy. These
may include the brand name, logo, design and so on.
CONCLUSION
As per the report presented above, the innovation and its importance has been presented.
The application of new product development can be useful for the organisation in which they can
implement the innovative product in the market. The company can also uses various tools
through which they can retain their innovative ideas, some of them includes Patent, trademark
and so on. The report also presents the innovative business case in which a full case about
bringing the innovation in the organisation is necessary.

REFERENCES
Books and Journals
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the fill factor of planar perovskite solar cells. Advanced materials. 28(26). pp.5214-
5221.
Stojčić, N., Hashi, I. and Orlić, E., 2018. Creativity, innovation effectiveness and productive
efficiency in the United Kingdom. European journal of innovation management. 21(4).
pp.564-580.
Wang, C., and et al., 2017. Understanding and eliminating hysteresis for highly efficient planar
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Zhou, H. and et al., 2018. Self-powered all-inorganic perovskite microcrystal photodetectors
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