Innovation and Commercialisation Report: Module Assessment Report

This report delves into the concepts of innovation and commercialisation, using the Heinz company as a case study. It explores the differences between innovation and invention, highlighting the shift from glass to squeeze bottles. The report examines organizational vision, culture, teamwork, and leadership within Heinz. It then discusses the 4Ps of innovation (product, process, position, and paradigm) along with the innovation funnel. Frugal innovation is explained, emphasizing its role in delivering effective products at lower prices. The significance of the commercial funnel and new product development (NPD) is detailed, including idea generation, screening, and commercialization. An innovative business case is developed, outlining objectives, vision, and funding strategies. Finally, the report covers various tools of intellectual property, such as patents and copyrights, essential for protecting and retaining a company's reputation. This report offers a comprehensive overview of innovation and commercialisation strategies, providing valuable insights for business and entrepreneurship studies.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
Concept of innovation with suitable comparison.........................................................................3
Explain vision, culture, teamwork and leadership ......................................................................4
LO 2.................................................................................................................................................5
4P’s of innovation with innovation funnel...................................................................................5
Explanation of Frugal innovation................................................................................................6
LO 3.................................................................................................................................................6
Significance of commercial funnel with NPD.............................................................................6
Develop innovative business case ...............................................................................................8
LO 4.................................................................................................................................................8
Explain various tools of intellectual property..............................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation is the concept which is useful in making changes within the invention. It leads to
develop valuable changes as per the demand of their customers considering the suitable
approaches. It also leads to enhance the overall performance and productivity of commodity in
terms of attracting pool of customers (Muñoz-Pascual and Galende, 2017). The report is based
on Heinz which is UK based company tense to offer beans and ketchup and also developed in
1869. The report covers suitable comparison among innovation and invention considering the
new change which is squeeze bottles that replace the glass vessels as squeeze bottles are
convenient to use. Report also cover the vision culture and teamwork of company that helps in
shaping innovation by considering 4P’s, frugal innovation which depict the significance of
commercial funnel considering the new product development.
LO 1
Concept of innovation with suitable comparison
Innovation: It depicts the suitable modifications within the current product in terms of
generating new product. In relation with Heinz they make prominent changes within their culture
bottles by replacing glass vessels with squeeze bottles it is convenient for customers.
Invention: It represents the prominent act in terms of drinking uniqueness in the idea and
the concept that does not exist in the market place (Stojcic, Hashi and Orlic, 2018). For example,
electricity is invention and the products which are made from electricity is the consumption of it
which are innovation.
Basis Innovation Invention
Concept It is concerned with the
prominent development of
this specific product
considering the offerings with
innovative features in terms
of developing image of
company (Hon and Lui,
2016).
It is concerned with offering
prominent services to their
customers and the services
which are not exist in the
market.

Activities It depicts that innovation does
not have suitable access as it
is dispersed considering the
functions of company.
Invention is constricted
considering the practices of
research and development.
Explain vision, culture, teamwork and leadership Organizational vision: It is considered as the prominent action which is useful for
company to bring innovative ideas and also helps in accomplishing their targets and
objectives. It tends to analyse that managers develop suitable ideas considering the vision
and also communicate it to their employees in terms of offering prominent product full
stop respective company also focus on the packaging to attract large number of customer
base. Culture: It leads to considered language believe opinions values and background of
employees which is essential for company (Kačerauskas, 2016). Moreover, the higher
authority of Heinz makes sure effective demand by considering the potential objectives
and their fulfilment. Along with this company also allow their staff members to
prominently involved with the decision-making process that helps in motivating them. Leadership: This process is helpful in directing individuals in terms of accomplishing
expected outcomes. Leader has the ability to prominently motivate and influence
employees considering the accomplishment of target. In relation with Heinz the leaders
make effective use of leadership style considering the innovation and opt
transformational and transactional in terms of improving the performance of employees.
 Teamwork: It is essential factor in terms of accomplishing the objectives and also
identified that effective team working is effective in comparison to individual
performance (Perry-Smith and Mannucci, 2017). In relation with Heinz other team
members perform suitable functions like operations marketing and many more in terms of
developing fresh and innovative ideas by executing it in the market.

LO 2
4P’s of innovation with innovation funnel
Innovation is the concept that leads to make suitable modifications within the existing
product and make it reliable and convenient as per the use of their customers. For this the
suitable execution of innovation is mentioned as below Product: It represents that Innovation and uniqueness significantly added as the new and
fresh feature in terms of making changes within the existing product and make it look
more attractive considering the use of customers. Process: It is prominently identified in terms of developing and delivering innovation
within the market. For this the top-level management of Heinz make effective use of
techniques considering the changes in product and also make effective use of
performance analysis techniques at the time of implementation of activities (Cohendet,
Parmentier and Simon, 2017). Position: It depicts the changes at the launch of significant products and services and
takes place them by considering positive reputation of company to target people. In
relation with Heinz delete to introduce suitable design of the ketchup bottle and modified
their packaging its look more attractive for customers and terms of gaining suitable
position in market. Paradigm: It depicts that company implement its functioning on the grounds of
innovation. In regard of Heinz it is analyzed that the tense to make suitable use of
innovation that is useful in increasing knowledge by implementing suitable activities in
an effective way.
Innovation Funnel Investigation: As per this step company tends to collect suitable ideas terms of making
innovation which is helpful to achieve qualitative and permanent solution (Hughes and et.
al., 2018). In regard of Heinz company tends to prominently conduct detailed
examination of the market and its competitors is helpful to make effective Plans by
considering innovation. Development: In this idea leads to develop screening and also required to match with the
prominent objectives of company. In relation with Heinz they need to bring innovation

for squeeze bottles of catch up which is more convenient and easier to use for their
customers that helps in satisfying requirements.
 Product delivery: It is the last step in which innovation funnel tends to decide bringing
new product within the market. Along with this company launched a squeeze bottle
which is easy to handle and prominently profitable for the company in terms of having
long term survival.
Explanation of Frugal innovation
Frugal innovation depicts the process that leads to eliminate complexities and also helpful in
reducing relevant features from the product by putting positive impact on the overall
performance. It is also identified that frugal innovation tends to convey things that can become
hurdle. It is also an essential factor it is useful to deliver more effective products at the low
prices. For this Heinz leads to identify old techniques Ford research and development which is
quite flexible in terms of having effective relations by prominently understanding the basic needs
of customers. It is analyzed that this approach effective considering the Asset that leads to
contribute for suitable development services and manufacturing (Kremer, Villamor and Aguinis,
2019). For example, automotive industry makes effective use of the significant approaches in
terms of making electric cars. Besides this the prominent changes are important in the business
environment in terms of making changes and sustainable them for a longer period of time. Along
with this company need to shape their customer behavior by enhancing awareness it is useful to
shape the behavior of customers by offering them effective care which is done by Heinz. Along
with this frugal innovation all collaborate with suppliers Government and other Rivals in terms
of making innovation considering the current trends.
LO 3
Significance of commercial funnel with NPD
Commercial funnel is helpful for defective marketing technique is analyzed in terms of
offering a suitable product and quality to their customers. It also tends to classify their customers
on the grounds of spreading awareness by considering the purchasing criteria (Černe, Batistič
and Kenda, 2018). For the more it is considered as a systematic process to attract a large number
of individuals and for this Heinz is capable to spread awareness considering their packaging that

leads to enhance profitability. It is also identified that respective company make effective
analysis of market condition which is useful in terms of enhancing productivity and profitability
of company.
New Product Development Idea generation: Here, organization is arranging with respect to the advancement of
groundbreaking thought with the target of drawing in most extreme number of
individuals towards the brand (Ali Taha, Sirkova and Ferencova, 2016). Regarding
Heinz, their directors distinguish that solid container for ketchup is very awkward for
their clients and because of this, they create press bottles which is anything but difficult
to deal with for their clients. Screening: In this, thought is created and distinguished as it is dependable for the future
reason or not as it is useful in accomplishing deals and development or not. Development of concept: According to this component, experiment is the particular idea
and furthermore center around the specialized achievability, planning and conventions
too. Marketing strategy: It is advised as the significant marketing system which is created
with the target to publicize their imaginative thought with on the lookout. Alongside this,
it additionally prompts utilize showcasing ad methods like online media applications to
mindful individuals about their new image (Žižka and et. al., 2018). Business analysis: It tends to depict the general circumstance and furthermore prompts
assess the acknowledgment of groundbreaking thought inside the market and it is
distinguished by the administrators of Heinz. Development: It happens later the thought that is fundamentally tried by the organization
and furthermore prompts slay the imaginative thought (Liu and et. al., 2017). Test marketing: Here, items are tried by principles which are set with respect to the
viability of imaginative thought which is estimated.
 Commercialization: It is the last phase of NPD and here, item is acquainted in market
agreeing with the arranging in a powerful manner.

Develop innovative business case Company overview: It depicts the generic innovation for the squeezing bottles that
happens in Heinz in a powerful way. Objectives: For this, the essential point of organization is to upgrade their client base with
respect to the level to raise productivity by impending 4 months. Vision and Mission: The operation of organization is to finished the general necessities
of clients to accomplish upper hand in market region. The vision of organization is to turn
into the best relationship to offer nature of food to customers inside market. Innovation in product: The advancement which is presented by Heinz is with respect to
the improvement of squeezing vessel which is more helpful for the utilization of clients. Funding: In request to dispatch their inventive item in market it is significant for the
high-level administration of organization is to get reserves and for this, they think about
both inner and outside sources (Hon and Lui, 2016). It is additionally recognized that for
this, association select bank advance which is more orderly and made sure about type of
subsidizing.
 Monitoring and controlling: It is significant for the top administration of Heinz to check
and notice unmistakable exercises which is executed by workers which is useful in
making powerful enhancements inside the specified time-frame.
LO 4
Explain various tools of intellectual property
Intellectual property is important for company in terms of considering factor measures that
it’s to develop protect and retain the reputation of company in the market area and the prominent
tools are discussed as underneath: Patents: It is considered as the suitable combination of various rides which are assigned
and helpful for government considering the inventor and also undertake the fixed tenure
as the return of disclosing the invention which is done by respective company (Stojcic,
Hashi and Orlic, 2018). It also tends to preserve the invention and innovation Whichever
is done by company in terms of restricting the Other copy of the idea.

 Copyrights: It is prominently similar considering the patent and copyright as it leads to
offer the range of significant rights which is useful as the prominent concept. Considering
the basic difference among the patent and copyright tends to focus on the innovation
meanwhile copyright is related with basic sources (Kačerauskas, 2016). For this the
creation of this concept tends to develop restriction for an organisation and also capable
to develop it within the given period of time.
CONCLUSION
Therefore, by considering the information it is identified that innovation plays an important
role in terms of attracting large number of individuals that helps in improving sales and revenues
of company and consider their prominent survival. Along with this, 4P’s, innovation funnel and
commercial funnel is useful in increasing knowledge for effective purchase of product and also
helpful in customer satisfaction. Lastly it is essential for the company to make suitable use of
intellectual property tools in terms of protecting their innovative ideas.

REFERENCES
Books and Journals
Ali Taha, V., Sirkova, M. and Ferencova, M., 2016. The impact of organizational culture on
creativity and innovation. Polish Journal of Management Studies, 14.
Černe, M., Batistič, S. and Kenda, R., 2018. HR systems, attachment styles with leaders, and the
creativity–innovation nexus. Human Resource Management Review, 28(3), pp.271-288.
Cohendet, P., Parmentier, G. and Simon, L., 2017. Managing knowledge, creativity and
innovation. In The Elgar companion to innovation and knowledge creation. Edward
Elgar Publishing.
Hon, A.H. and Lui, S.S., 2016. Employee creativity and innovation in
organizations. International Journal of Contemporary Hospitality Management.
Hughes, D. and et. al., 2018. Leadership, creativity, and innovation: A critical review and
practical recommendations. The Leadership Quarterly, 29(5), pp.549-569.
Kačerauskas, T., 2016. The paradoxes of creativity management.
Kremer, H., Villamor, I. and Aguinis, H., 2019. Innovation leadership: Best-practice
recommendations for promoting employee creativity, voice, and knowledge
sharing. Business Horizons, 62(1), pp.65-74.
Liu, D and et. al., 2017. Human resource systems, employee creativity, and firm innovation: The
moderating role of firm ownership. Academy of Management Journal, 60(3), pp.1164-
1188.
Muñoz-Pascual, L. and Galende, J., 2017. The impact of knowledge and motivation management
on creativity. Employee relations.
Perry-Smith, J.E. and Mannucci, P.V., 2017. From creativity to innovation: The social network
drivers of the four phases of the idea journey. Academy of Management Review, 42(1),
pp.53-79.
Stojcic, N., Hashi, I. and Orlic, E., 2018. Creativity, innovation effectiveness and productive
efficiency in the UK. European Journal of Innovation Management.