Business Innovation and Commercialization Report - Module ABC

This report provides a comprehensive analysis of innovation and commercialization within a business context. It begins by defining the importance of innovation compared to invention, exploring how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The report delves into different sources of innovation, the 4Ps of innovation (Paradigm, Product, Process, and Position), and the use of the innovation funnel to analyze and shape progressive ideas. It also examines frugal innovation and its role, the application of the commercial funnel, and the New Product Development process. Furthermore, the report discusses building an innovation business case, measuring overall effectiveness, and methods to overcome innovation challenges. Finally, it evaluates tools organizations can use to develop, retain, and protect knowledge and intellectual property. The report provides insights into Qbic hotel's innovation strategies and the benefits of innovation for market share and profitability.

INNOVATION AND COMMERCIALIZATION

Table of Contents
P1 Importance of innovation in organization compare to invention ..........................................3
P2 Evaluate how organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation..............................................................................................4
M1 Different source of innovations and how it foster and develop environment and innovation
culture..........................................................................................................................................5
D1 Critically analysis innovation development which embedded and measure in
organisational context.................................................................................................................6
P3 Explain the 4Ps of innovation and use of the innovation funnel to analyse and shape
progressive ideas.........................................................................................................................6
P4 Explain developments in frugal creation and example to use ...............................................8
M2 Application of innovation funnel..........................................................................................8
M3 Role of frugal innovation......................................................................................................8
P5 Explain the value of the commercial funnel and the application of New Product
Development processing for commercialisation of innovation..................................................9
P6 Build an Innovation Business Case in an organisation, including ways to access funding...9
M4 Detailed innovation to measure overall effectiveness........................................................10
D2 Nature of innovation and methods to overcome it..............................................................11
P7 Evaluate the various tools that the organisations can use to develop, retain and protect
knowledge and intellectual property.........................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
In order to define innovation and commercialization in an organization, first is required to
understand what is the meaning of both these words in the context of business. There are
different sources and methods are available of innovation and developing the commercialism in
the structure (Chun and et.al., 2015). Furthermore, leadership, networking, vision, mission and
team working approaches are necessary to create innovative culture within the organization.
According to case study of virgin group of industry, it is stated that the achievement of success
of its company is based on the developing 4Ps of innovation in its structure. Apart from these,
there are different tools and techniques exist which can develop the knowledge and intellectual
property (Tanev, Rasmussen and Zijdemans, 2015).
LO 1
P1 Importance of innovation in organization compare to invention
Innovation is a process of creating new ideas or devices which are valuable for
customers. There are number of reasons to use innovation in its structure which can be
understand by following points :
 Market : innovation helps a company in to survive adverse changes in operating
circumstances. It also helps the customers in making their life easier. Company can
achieve more and reliable outcomes through innovation process (Dutta and Folta, 2016).
To protect market share and in raising the market profile of a company.
 External forces : innovations helps in to comply with actual or anticipated legislations
and reduce the rivalry from the market. It also helps a company to influence their
competitors exist in the market. External forces are the main factors which should be
considered while making decision process (Eberhardt, Tillman and Sherrod, 2017).
 People and organisation : creativity is a process to do something new or interesting. It
also helps in increase the work efficiency of employees. It encourages the employees by
giving good ideas and approaches.
 making better quality of products and services by attracting extra funding and raising the
profitability margin (Tanev, Rasmussen and Zijdemans, 2015.).
Difference between invention and innovation :
Basis Invention Innovation

meaning It is a process of generating
new ideas which are never
been made.
It is the process of
implementation of thoughts for
the first time.
Concept It is an original idea Applicable execution of new
idea.
skills Technological skills Set of marketing, technological
and strategic skills.
Occurs Fresh idea onslaught a scientist
(Ge and et.al., 2017).
A requirement is felt for a
commodity or betterment in
existing good.
Concerned Individual process or product. Collection of different
products and process.
Activities Constricted to Research and
development department.
Extended across the structure.
P2 Evaluate how organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation
In order to work in the luxury hotel, it can be stated that there are different kinds of luxury
services has been provided that assists to consider several types of goods and services. In this
consideration, services increases effective results in the business to focus on the product
development as well (Ge and et.al., 2016). Beside this, it is also important to regulate effective
management skills and style that help to make creative business performances. Furthermore, in
respect to meet with the customers need and demand, it is important to look towards the
innovative working environment that help to make creativity at workplace. In addition to this,
there are different kinds of leadership style has been adopted which includes goals, culture team
building, etc. Therefore, it assists to create innovations and inventions in the company with
systematic activities and tasks (Hora, 2016). In this regard, Qbic hotel has mission to increase

their revenue and profits with consider innovations in new places. Further, they also want to get
better position in hotel sector through make highest growth. Vision assists to set the specific
goals and objectives through they are able to attain desired results in the business. They want to
satisfy their customers so that innovative products and services must be sold in the market.
Beside this, there are different types of stakeholders also take position to make successful results
in the company (Ke and et.al., 2016.). Therefore, it has advantage to the business to take market
leader position. For example, customers, shareholders, directors, government, distributors, etc.
Without stakeholders, the company cannot take their effective results in the business. As results,
it is important to focus on the desired results and outcomes (Koirala and et.al., 2016).
In order to maintain approach of customer centric, it is essential to focus on the working
pattern that is needed to perform several functions and operations. Effective process of working
help to give productive work and fulfil organisational objectives as well. On the other hand,
leaders of the business need to play important role to motivate their employees towards the
increasing sales and profits as well (Loya and Rawani, 2016). It is invention procedure that help
to reach towards the target market. Plan has been taken on the basis of effective management
skills so that it assists to give better services at workplace. Effective market share lead with the
market growth so that innovation and commercialisation important elements to meet with desired
results. Along with this, main objective of business is to meet with profitability in the market
which assists to perform several activities as well (Do, Mazzarol and Reboud, 2018). Innovation
require new idea and experience in customer satisfaction approach. As results, it assists to look
towards the creative results that undertaken on the basis of creativity and attain more desired
results as well. As per the current competition in the market, Qbic hotel need to adopt new
products and services in the market so that they are able to introduce more profits and revenue as
well. New expansion helps to take decision and accomplish their mission as well so that they are
able to develop effective results in the market. Decision making approach of the chosen business
creates efficient planning to make it best and attain overall targets and goals as well (Brooks,
Gherhes and Williams, 2017).
M1 Different source of innovations and how it foster and develop environment and innovation
culture
Innovation is important process which help to adopt new culture and unique style in the
products and services. Therefore, it assists to attract several customers and people with effective

consideration. Innovation requires to consider effective results with ascertain customer
responsibility to sustain company profile and existence in the market (Simula, Valiauga and
Lehtimäki, 2014). There are several kinds of sources available through innovation could be carry
such as changing industry, market structure, implement new ideas and knowledge, etc. All these
aspects assists to make innovation process that help to make effective process and working with
develop new ideas.
D1 Critically analysis innovation development which embedded and measure in organisational
context
Innovation is important aspect that assists to create long term sustainability in the market.
In this regard, three steps have been implemented to identify goals and explore different
activities with short term delivery. There is no requirement to make new product development
process (Shih and Waluszewski, 2017). Only consideration of customer needs and requirement,
effective process of working could be implemented at workplace. It assists to attract new
customers and create network to match with new and advance skills as well.
LO 2
P3 Explain the 4Ps of innovation and use of the innovation funnel to analyse and shape
progressive ideas
In order to work with the objectives and goals, it can be stated that every business need to
adopt innovation of 4p’s so that they are able to attain desired results at workplace. In this way,
ideas and commercialisation activities will be evaluated that help to implement process of
innovation. In respect to look towards the Qbic hotel, there are following 4ps included:
Paradigm: It is first element to make innovation in the business. In this regard, business
performances will be improved so that effectiveness generated through focus on the desired
results and outcomes (Gbadegeshin and Heinonen, 2016). In the first step, the chosen
organisation needs to set model and image to make innovative and creative process for product
and services. These kinds of changes assist to leverage profitability and attain positive results in
the market. For instance, the chosen company take online delivery of products and services with
bookings.
Product: It is another important p in 4p’s of innovation. In this aspect of innovation, the
company need to focus on the needs measurement to attain desired results. In this regard,
innovative skills and make effective impression towards the organisation behaviour. It assists to

consider executive effective results (Ugonna and Onwualu, 2016). In this way, perfect and
innovative results changes are needed to provide additional services in systematic manner.
Therefore, the chosen business need to develop products and services in systematic manner.
Process: In order to deliver systematic process, it is important to consider next p that is
process. In this regard, Qbic hotel need to improve their outcomes and results with make more
profits in the company. With the help of this tool, innovative skills and effective impression
could be consider in the organisation behaviour of the business. Therefore, new and creative
ideas implemented at workplace to attain more desired results in the business (Arthur, 2017).
Furthermore, there are several factors exist that help to implement process in the business with
systematic consideration. It involves supplying, hiring, provide training, etc. All these
consideration help to increase profits and revenue at workplace in systematic manner at
workplace. Furthermore, this is also consider as the best approach which help to meet with needs
of customers and provide them best and effective approach at workplace to target new people
(Calá, Arauzo-Carod and Manjón-Antolín, 2015).
Position: It is the last element that consider to make effective process and determines
things that are need to be done systematically. With the help of making changes, it can be stated
that best effective process of working develop at workplace. It assists to measure response of
customers in the innovations to react towards the innovation process. All changes are take place
to maintain effectiveness and attain creativity at workplace (Hang Do, Mazzarol and Reboud,
2014).
In order to implement the above process, it can be stated that objectives develop with clear
and improve ideas. It is the best way to focus on the clear consideration which help to maintain
and analysis results in systematic manner. Overall process help to find and fulfil needs and
requirement of customer with implement innovative results at workplace (Mohd-Azmi, Jesse and
Hambali, 2016).
Innovation funnels to examine shape of innovation
Innovation funnel used to determines several steps which take place to attain more
desired results at workplace. It is necessary requirements for the business which help to attract
several customers in the business with different processes. In this regard, company able to make
sustainable growth and development program in competitive market. Therefore, it will help to
Qbic hotel to attain desired result. It assist to give innovative style and management development

process to consider effective approach to manager of Qbic hotel. It respect to explain innovation,
it can be stated that business ideas could be shape in the company.
P4 Explain developments in frugal creation and example to use
Frugal innovation consider innovative role and effective functioning to focus on the
desired results and operations as well. With the help of functional activities, it can be stated that
chosen business able to deliver effective functioning. In the present research of business, it has
been analysis that Qbic hotel need to implement new product and services through they will able
to maintain their effectiveness in the country (Brooks, Gherhes and Williams, 2017). As results,
new services will be launched in the markets that are undertaken to easy purchase products and
services of the chosen business. In this regard, frugal development program assists to create
positive impact on the specific market research. With this activity, the chosen business able to
know about the market demand and requirements. It assists to gather effective results in the
process and develop target market as well. New development growth assists to consider frugal
development which termed as the customer satisfaction approach among the different people. In
order to implement transmission of pattern, it can be stated that development activity help to take
effective results at workplace.
M2 Application of innovation funnel
In respect to implement effective results, it can be stated that Qbic hotel can implement
several advantages to meet with more aims and objectives. In this regard, innovations helps to
maintain new process at workplace that assists to maintain effective relationship at workplace.
They can take long term process which help to make expansion of the company in significant
manner.
M3 Role of frugal innovation
Frugal innovation help to make new product and services in the company to get several
aims and objectives at workplace. In this regard, employees efficiencies increases with
developing process and attain more creative results at workplace. Another aim also assists to
meet with the desired results and outcomes at workplace.
LO 3

P5 Explain the value of the commercial funnel and the application of New Product Development
processing for commercialisation of innovation
Product development process is important aspect that help to make effective and efficient
process at workplace. In this regard, expansion strategies must be involve at workplace that
assists to meet with goals and objectives as well. In order to give process of working, the
company will able to develop several advantages at workplace. New product development
process assists to meet with desired outcomes in systematic manner that assists to increase
business efficiency as well. This process assists to Qbic hotel to measure actual business position
and share their profitability in the market. In order to make new product, it is essential to
implement huge importance in the enterprise. It is time consuming process but need to consider
more effective results in the business. It assists to compete with the other large enterprise to
make high growth and profitability as well. Innovation needs to make rapid changes in customers
needs and demand (Eberhardt, Tillman and Sherrod, 2017). Therefore, it considers effective
process to provide proper and effective products and services in the business. With the help of
organisation enhancement, it can be stated that innovation and commercialisation develop more
creative results at workplace.
With this regard, it is essential to focus on provide new services and advance results so
that company able to produce more creative results at workplace. With the help of provide
advance services, it can be stated that business able to develop more relevant information in the
company (Do, Mazzarol and Reboud, 2018). With the development of business effectiveness, it
can be stated that commercialisation in Qbic hotel assists to make more relevant results at
workplace.
P6 Build an Innovation Business Case in an organisation, including ways to access funding
In the chosen business, it is important to focus on the invention and innovations as well.
With the help of innovation, the company able to produce new ideas and creativity at workplace.
It is technical aspect that assists to focus on new activities and services in the business
environment. There are different kinds of new and effective services develop that focus on
desired results.
 In this process, business able to improve their efficiency and innovation capabilities to
attract customers in systematic manner. It is the best way in which quality of products
and services maintained to accomplish customer satisfaction. It also extends to manage

quality of existing products and services in systematic manner (Eberhardt, Tillman and
Sherrod, 2017).
 Developed new product and services for customers assists to make rapid changes in the
company that help to make innovative results at workplace.
 Innovation commercialization activities adding values of the goods and services in Qbic
hotel to increase their advantages and maintain promotional activities as well. Therefore,
target market also getting more creative functions at workplace.
Innovation in the business consider improvement in the systematic results with consider
following advantages:
 Increase productivity among people who are working in the Qbic hotel.
 Operational cost need to reduce so that high and advanced services will be developed to
attain more creativity at workplace.
 More competitive and challenging business environment considered maintain business
effectiveness.
 It helps to add and build valuable services in the company. It increases turnover and
profitability among the market.
 The Best effective process also deliver advantages to develop significant results at
workplace (Do, Mazzarol and Reboud, 2018).
 It assists to adopt new services that are very effective and attain potential advantages.
Frugal innovation
In respect to attain more significant results, it is essential to focus on the best and
effective process. It is important element that assists to focus on the organisation objectives and
goals as well. In the business, innovation strategies help to consider proper fund and external
funding help to develop more significant advantages at workplace. With the help of the
innovative characteristics, the company can describe their business in systematic consideration
(Tanev, Rasmussen and Zijdemans, 2015.).
M4 Detailed innovation to measure overall effectiveness
In respect to measure effectiveness with innovation, it is important for chosen enterprise
to consider actual business performances. In this regard, manager of Qbic hotel need to monitor
their activities that help to perform innovative results at workplace. Furthermore, it also provides
best and effective process which help to look towards the measurement of effectiveness at

workplace. With the innovative characteristics, it can be depict that the chosen business able to
maintain their effective consideration at workplace easily.
D2 Nature of innovation and methods to overcome it
In this regard, Qbic hotel need to take corrective actions that are helpful to maintain risk
and challenges at workplace. In this way, market uncertainties and changing in the demand
important consideration that assists to prepare plans in the company in systematic manner.
Business also able to overcome their challenged which create negative impact on the company
(Eberhardt, Tillman and Sherrod, 2017).
LO 4
P7 Evaluate the various tools that the organisations can use to develop, retain and protect
knowledge and intellectual property.
In the selected business, there are several consideration included that assist to protect
with implement more creativity and ascertained several advantages as well. In this regard, Qbic
hotel need to maintain safety and security with consider intellectual property of the enterprise.
They need to focus on their plans and techniques that make sure safety and precautions as well
(Do, Mazzarol and Reboud, 2018). In order to fulfil organisation needs, it can be stated that
different tools and techniques must be implemented at workplace which are explained under
here: Trademarks: This element help to maintain more systematic results and outcomes at
workplace with consider name, sound, symbol, etc. In this regard, the chosen business
need to maintain business values which different from the other enterprise. In this
consideration, it is important to consider proper security and take advantages to protect
the legal actions as well. With the help of proper security, it can be stated that Qbic hotel
able to maintain their effectiveness easily. Trademarks assists to maintain security so that
other company unable to copy symbol, name, etc. with legal actions (Brooks, Gherhes
and Williams, 2017). Copyright: Copyright is also important element that assists to maintain intellectual
property for another. In this regard, void and illegal terms in the law also need to
maintained in systematic consideration. Copyright protects expression of the enterprise
with the ideas. In this way, Qbic hotel need to take registration that hold infringement
from the market consideration.

 Patent: Patent also need to grant legal right that assists to protect unique and tangible
features in the business. With the help of provide proper and best possible outcomes, the
company also able to consider proper support to the enterprise operations. In addition to
this, the chosen business take advantages in the business which help to maintain more
creativity at workplace (Tanev, Rasmussen and Zijdemans, 2015.).
CONCLUSION
From the above report, it can be concluded that innovation and commercialisation
consider important role in the business success. In this regard, several activities and functions has
been developed that assists to meet with the creative and effectiveness. In this way, process of
development also consider attain more desired results at workplace. In this regard, regard, report
summarised about the difference between invention and innovation. In this way, there are
development process consider to focus on the desired results and maintain systematic work
performances in Qbic hotel. Moreover, 4ps of innovation has been developed to consider
different aims and objectives at workplace. It is the best way to attain more creative results at
workplace. It assists to maintain creative results and attain more profitability results at
workplace.

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