Innovation and Commercialisation: Analysis of Big Belly's Strategy

This report delves into the concepts of innovation and commercialisation, emphasizing their importance for business growth. It explores how organizational vision, leadership, culture, and teamwork shape innovative ideas. The report analyzes various sources of innovation and the development of frugal innovation. It depicts the commercial funnel, justifies the New Product Development (NPD) process, and examines the commercialization of innovation in the context of Big Belly, a company specializing in smart waste management. The report also includes a case study of Big Belly, examining its innovative product effectiveness and funding origin, and defines tools for protecting intellectual property. The report covers topics like innovation in relation to organizational vision, leadership, culture, and teamwork; various sources of innovation; frugal innovation; and the commercial funnel using Big Belly as a case study. The report also explores NPD and commercialization strategies, tools for developing and protecting intellectual property.

INNOVATION AND
COMMERCIALISATI
ON

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Explain the concept of innovation and analyse its importance in comparison to invention..1
P2 Explain how Organisational vision, leadership, culture and teamwork can shape innovative
ideas.............................................................................................................................................2
TASK 2 ..........................................................................................................................................4
P3 Analyse various sources of innovation and how it is helpful in developing the environment
and culture of innovation............................................................................................................4
P4 Explain the development of frugal innovation.......................................................................4
TASK 3 ..........................................................................................................................................5
P5 Depict commercial funnel and justify NPD(New Development Process) and
commercialisation of innovation in reference to BIG BELLY...................................................5
P6 Analyse a case study in connection with BIG BELLY and examine its innovative product
effectiveness and origin of funding.............................................................................................8
TASK 4............................................................................................................................................9
P7 Define tools which help firm in developing, protecting knowledge and intellectual property
rights............................................................................................................................................9
CONCLUSION ............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is defined as the process which develops the new ideas and thoughts for
creates changes and modifies it. It occurs for the betterment to create solutions which carries out
new demands and requirements in existing goods and services. It consists of creating
opportunities and new ideas for evaluate the analysis of new products in the working
environment. Despite of, commercialisation indicates the launching of new products and services
within the business(Garnier 2019). Moreover, it is very essential for a company to sustain in the
market for future perspectives. With reference to Big Belly, which deals in smart wastage and
then recycle those wastes in public areas. This company could develop the wastage in such a way
to keep away from garbage for future growth. In addition to this, it could acquire innovative and
creative products within a large range. The report involves innovation of new products and also
commercial funnel of products. NPD process to attain goals and objectives within an
organisation.
TASK 1
P1 Explain the concept of innovation and analyse its importance in comparison to invention
Innovation: It refers to actions which evolve the changes and modification within the
existing goods and services in order to effect on future growth of a company. In addition to this,
there are various factors which provides the operations and functions of innovation that includes
unique thoughts in such a way that it uses the strengths of a company. It further includes creating
of new ideas or services which operates the values and beliefs of their customers.
Invention: It refers to the process which is crucial in providing unique ideas to spot into
activities and also determined the other type of process of new product(Chan and Srivastava
2019). It occurs when new ideas and their opinions rise in head of people and their opinions
turned into final products. For instance, it provides research programmes within the market for a
longer process. An invention is a specific method which involves the development of product
procedures. In assistance to this, it could improves the product creation with existing into new
things.
Invention is defined as a procedure of bringing innovative idea within the market that
does not have any existence previously. Innovation is a procedure which mainly allows an

organisation to convert idea into foods as well as services which add value to the company. It is
important for an organisation to bring innovation in market that will help them to gain success as
well as higher growth. The importance of innovation is it increases productivity of an
organisation. In addition to this, it attract more number of customer that has a positive influence
on sales and profit of an organisation.
Comparison among innovation and invention
Basis Innovation Invention
Aim Their main aim is to make
productivity and profitability
of current products in such a
way to attain goals and
objectives.
Its main aim is to present the
new innovative and creative
products to their potential
customers.
Occurrence It occurs after the measure of
productivity in such a way to
have adequate competitors for
succeed in future.
It occurs when their ideas and
opinions comes into the mind
of respective that enables into
final products which meet the
needs and wants of its
customers.
Innovation plays a significant role in future growth of a company. For instance,
perceptual experience helps in developing and arising the appropriate intercourse(Chan 2019). In
addition to this, the development of innovation and opinions in such a way to meet the needs of
values which shows threats. The importance of innovation which is described as below:
 Specific selling point(USP): The competitors which are already in the market that
enhances competition level in business in reference to Big Belly. This company utilise
various creativity for the selling of products and services that includes totally special in
order to support many times much stock of garbage. In addition to this, this company has
currently introduces the technique of preventing wastage of alarm which makes noise
pollution.

 Constant changes: This factor is very crucial for a company to provide support of goods
and services. In assistance to this, this is related to products within the existing
environment which is dynamic in nature(Jarchow and Klement 2018). In context to Big
Belly, it is evolve with various modifications in its existing goods with the new
innovations in such a way that it is helpful for a company and the staff members for
enhancing their productivity.
P2 Explain how Organisational vision, leadership, culture and teamwork can shape innovative
ideas
Innovation is defined as a process in which a company would attain its goals and
objectives that enhancing its success in the future. It refers to the creation of various ideas and
their opinions. This includes several elements that aid a company which is discussed as below:
 Innovation & Organisational vision: It signifies the goals and objectives that developed
in acting several ideas that are already rigid within an organisation(Schilling and Hill
2016). With reference to Big Belly, an individual plays a very essential part in shaping
creative ideas. This company would examine by changes of sound alarm and gives the
collection of garbage. Organisational vision is to create suitable task to get free of waste
material across all the world. In addition to this, bringing innovation helps an
organisation to attain competitive advantage at marketplace that help company to gain
leading position in the particular industry. Moreover, innovation helps a company to
develop brand image and increase productivity that leads to attainment organisation
vision in an effective manner.
 Innovation & Leadership: It indicates the manager of a company to gives actions and
directions which choose the suitable way of leadership for the innovation. With reference
to Big Belly, it adopts their own roles and responsibilities. The accomplishing vision of a
company a manager would refer leading modes that motivate the employees for specific
products in such a way to attain future growth of a company. Once the employees of a
company would motivated then they could attain its new and creative products. This all
depends on the advertisement of goods for selling to increase goodwill and brand image
of a company. The leaders motivate employees and allow them to share their ideas with
other team members which help company to carry out something innovative and creative
as well.

 Innovation & Culture: It further includes rendering of services within an business
situation in order to make personal identification. It indicates the values and beliefs for a
Big Belly company that would be assignable at the time of physical process of new
innovative goods and services. In assistance to this, it is very helpful in accomplishing the
competitive advancement for gaining more competition with the market structure. It
would enhance their profitability and productivity within a company that accomplish
their goals and objectives. Further, the innovation includes advertisement of products for
promotion that lead to enhance profitability of a company. After the innovation is done it
includes advertisement and promotion of specific product for sales in such a way to
increase productivity and profitability of a company. It is important for an organisation to
determine the culture of people where it offer the products as well as services. It will
ensure acceptance of customers in an effective and proper manner.
 Innovation & Teamwork: It indicates the environment through which personnel of a
company that would attain specified goals and objectives. The members of a team within
an organisation focus on future success that depends on coordination and work together
among the individuals(Tiedemann, Johansson and Gosling 2020). In context to Big Belly,
it would execute the members of a team to attain goals and objectives in an effective and
efficient manner which is helpful in exclude conflicts among the employees of a
company. Further, it includes amazing team that is useful for the selection and
completion of work in appropriate way. The proper and timely team work is execute
according to cooperation between the employees and team members in a company that
achieve goals and objectives. Proper teamwork is compulsory for working together with
cooperation that lead to attain targets of a company in an effective and efficient manner.
It is determine that team work brings creativity and develop some new ideas which is
essential for company to gain success and growth as well. In addition to this, the team
members of Bigbelly share their thoughts and ideas to all the team members which leads
to development of creative idea and enhancement of productivity as well.

TASK 2
P3 Analyse various sources of innovation and how it is helpful in developing the environment
and culture of innovation
A company apply the innovation and and needed accessible resources which is useful in
innovating and creating new products in an suitable manner. In addition to this, innovations are
execute with the betterment of existing product to new products(Mazzarol and Reboud 2020).
Furthermore, it is helpful in evolving new ideas and opinions. It involves, modifications in their
mind at the time of introducing of new products that needs suitable information within the
market surroundings.
4P's of innovation and use of innovation funnel
 Product: It indicates the key factor that is useful in forming new holdings and also
provide to their respective customers. In context to Big Belly, it is evolved the waste
material container for chopped down the method of sound pollution. This lead to satisfy
the needs and requirement which results in making activity of a company.
 Process: This factor signifies the procedure of developing the products(Mazzarol and
Reboud 2019). In context to Big Belly, it provides the container of waste material in
order to prevent sound pollution. Furthermore, it also aid to use specific technique and
tools in such a way to secure time and get free of sound pollution.
 Position: This involves the products which hand on the competitors in order to provide
similar form of products within the market structure. With reference to Big Belly, it
modifies the garbage and cut into recycle process.
 Paradigm: It refers to the procedure that a company would modify their changes to its
existing products that makes new ideas and opinions in an appropriate manner. In relation
to Big Belly, it could develop suitable regulation for a employee and makes several
changes for the evolvement of new idea within the market surroundings.
P4 Explain the development of frugal innovation
This procedure of frugal innovation is useful in arising ideas of restructuring the sound
pollution. It also includes the measurement of problems and then develop business endeavour in
relation to variations of products that allocate higher market part. In assistance to this, this form
of innovation is very helpful in decreases garbage and then recycle of its products by getting

suitable profits. In assistance to this, developing of products that implicit impurity from
environment and also reduces sound pollution(Pynnönen, Hallikas and Immonen 2019). This is
further includes amazing ideas with suitable manufacture which is useful in developing of
products.
Along with this, Frugal innovation help companies to provide goods as well as services at lower
process to the customers prevailing at marketplace. It also help in providing low rate with a good
quality to customers. There are many benefits of frugal innovation in terms of speed, cost,
attracting new market and many more. One such example of frugal innovation is TATA Nano
car that help company to offer quality at affordable price in the market.
Application of innovation funnel in Big Belly
It signifies the introducing of new products that apologise the overall displays which
involves services that are rendered in an effective and efficient manner. The development of
plans that modifies into physical process plans and actions. There are few factors which is
discussed as follows:
 Research: It is a primary step that has begins launching a product within a surroundings
of a market. In assistance to this, each organisation needs to carries the research programs
that is discomposed with the needs and wants of a customers.
 Development: The study of market situations which includes evolvement that is
ascertained with the second phase accordant to their needs and wants. In assistance to
this, the products and services that are examined and defined with the requirements of its
customers(Sharpe and et. al., 2020). Furthermore, the evolvement of alarm sound of
waste material which involves noise free environment.
 Shipping of products: It refers to the last period that signifies the process of shipping
which involves the procedure of transferring products from one place to another in
reference to existing market structure. Therefore, it includes several services such as
transportation and abilities of working conditions.

TASK 3
P5 Depict commercial funnel and justify NPD(New Development Process) and
commercialisation of innovation in reference to BIG BELLY
It refers to the market which is impulsive and negotiable in nature that is very essential
for a business to examine the modifications of various actions and directions. Commercialisation
is refers to new products or new development by an personnel within an organisation. Beliefs
and values is very useful for needs and wants of modify in the market(Ahmadi and O'Cass 2016).
Hence, commercial funnel is utilised with the sales procedures and then escort the customers
with the buying process. Hence, it is essential for enterprise that aid to decide the behaviour of
their customers. In context to Big Belly, it is already progressive for the innovation in a market
that gives best solutions to potential customers.
Importance of commercial funnel-
 Determining switching behaviour: This indicates the commercial funnel that is useful
in deciding and study the behaviour of customers while respect to the product.
 Strategies and tactics: A business requires to make strategies for competitors in the
market. Hence, this funnel aid the business in developing new strategies.
Commercial funnel involves four sections which is described as follows:
 Awareness: It indicates the business needs and requirements for attracting more
customers. The sales of a product is not rendered whether the awareness of its brand
image. In context to Big Belly, a company could utilise advertisement tools and
techniques for making brand image.
 Interest Action: It is very essential for the customers and a organisation that took
involvement in according to the needs and wants of a customers(Papageorgiadis and et.
al., 2020). A company could provide various benefits that lead to motivate the
customers. It is the development of the interest in best offers.
 Decision: The decisions and behaviour affect on the miscellaneous and their existence of
various choices. It is the responsibility of a business to move towards its customers in
selling procedures by forcing consumers to decisions and behaviour for the product.
 Action: The actions of defined activities for the process, payment and after service is
rendered. This phase are transferred into respective customers. This aid the enhancement

of goodwill and attractiveness of customers. It creates positive relationship which is kept
among the business and their customers.
Hence, the study and perceptive of selling procedures is essential for rapidly running of a
business and keeps the positive relationship among the business and their potential customers.
Importance of commercial Funnel
This funnel is also known as sales funnel that help an organisation to gain an
understanding about purchasing process that leads to attainment of higher growth as well as
development. In addition to this, it helps an entity to find, qualifies as well as goods and services
to end-user in an effective manner that directly impact on the productivity and profitability of an
organisation.
New product development-
New product development is the procedure which is known for the NPD funnel that
launch new product in the market by study the macro and micro factors in an suitable and
appropriate manner. Phases are included in this procedures which is described as follows:
 Developing ideas or opinions- Ideas are essential in a business which aid a firm in
continuation of enterprise(Gentile 2020). Hence, this phase shows the ideas which is
created through the research in the market and then expand and recognise their
opportunities across the world.
 Idea Screening- The creation of various ideas that acquires ideas and opinions into
actuality. While choosing suitable ideas, a business apply conceptual and group
discussion. Hence, selection and good ideas are to be chosen according to their choices.
 Testing phase- When the choosing of ideas and opinions, the product is proved which
aid to examine real conditions of a market structure. This lead to NPD which is essential
because it creates a business that enables the ideas which is acquired to achieve the given
target. In context to Big Belly, it utilise the checking of product which aid to research
and development in an efficient and effective manner.
 Implementing marketing strategy- It involves several changes according to the
elements such as age, gender, beliefs and standards. With reference to Big Belly, it
makes strategies for regulating those elements.

 Business Analytics- It is the prospect which involves performance and advancement at
all phase that is ascertained(Gentile 2020). In context to Big Belly, they utilise this phase
to study the personnel resources which is used in this procedures.
 Product development: The next phase which is product that is required for the
advertisement in a market. In context to Big Belly, it utilise promotional techniques and
advertisement programs such as Instagram and You-tube and so on.
 Test marketing: The test marketing of product through which models are introduces in
the market which examine the outcomes. With reference to Big Belly, it identifies the
needs and wants of the product in a market area.
 Commercialisation: It involves real phase that introduces the product in a market at
wide range(Aksoy and et. al., 2019). In assistance to Big Belly acquires this phase for aid
to selling and team of marketing members.
Hence, NPD process helps a business to recognise products, progression, opportunities, market
conditions and so on. In relation to Big Belly utilise this model to defeat the situations which are
occurred in the competition of a market.
P6 Analyse a case study in connection with BIG BELLY and examine its innovative product
effectiveness and origin of funding
Executive sum-up Big Belly was acknowledged with focus on necessitate and
reduces and recycle the garbage across the world.
Requirement It is needed to study the market structure. In context to Big
Belly recognise the needs and then launch various methods
in a market area.
Method Garbage management is essential to be advised in a
community(Gentile 2020). With reference to Big Belly has
to launch new product which is known as FIRF solution that
deceases time in a management procedure. It uses and gives
smart result for the customers which helps them in making
healthy and good environment.
Consumer Investigation Consumer analysis is essential for enhancing its sales of a
product. In context to Big Belly, it analyse the behaviour of

customer because a business gives products and services
that lead to attract more customers.
Financing To transfer of actions and operations in business that
requires funds and capital. In context to Big Belly utilise
various origin such as bank, financial institutes and so on.
Organisation goodwill provides to gain the various benefits
for the international business firm.
Profits With reference to Big Belly gives positive and healthy
environment to society. It also provides financial institution
for cooperation within an organisation to explore their
business at worldwide.
Innovation business case:
Steps Description
Executive summary It determine that Bigbelly is focusing on
innovation which is converting the waste inti a
useful product that decline level of pollution.
Objectives The objective of Bigbelly is to protect the
environment and make it less polluted.
Mission The mission of Bigbelly is to make
improvements in the living standard of people
by bringing innovation.
Source of innovation & solution Herein, the innovation bring up by Bigbelly
transform waste into manure which decline
health problems & protect environment.
Vision The vision of company is “To develop socities
by the new ideas and innovation as well which
leads to increase in living standard of people”