Innovation, Commercialization, and Business Case for Mr. Green Drinks

This report provides a comprehensive analysis of innovation and commercialization strategies for Mr. Green Healthy Drinks. The introduction establishes the importance of innovation and its distinction from invention, setting the stage for an exploration of how organizational vision, leadership, culture, and teamwork can shape innovation and commercialization. The report delves into the 4Ps of innovation, the innovation funnel, and frugal innovation, offering practical examples. It further examines the commercialization funnel, new product processing, and the development of a business case. The report also evaluates tools to protect intellectual property. The report highlights the necessity of innovation for business growth and provides recommendations for Mr. Green to overcome competitive challenges and achieve its business objectives. The report emphasizes the importance of adapting to market changes and customer satisfaction.

Innovation and
commercialisations

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explaining innovation and determine its importance to organisation in comparison with
invention. ....................................................................................................................................1
P2 Explaining how organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation..............................................................................................2
TASK 2............................................................................................................................................2
P3 Explain 4P’s of innovation and explains the use of the innovation funnel to examine and
shape innovation ideas. ..............................................................................................................2
P4 explain development in frugal innovation and provide examples of how it is used in an
organisational context. ...............................................................................................................4
TASK 3............................................................................................................................................4
P5 Explaining the importance of commercial funnel and the application of new product
processing for commercialisation of innovation.........................................................................4
P6 Innovation business case for an organisation including ways to access findings..................5
TASK 4............................................................................................................................................5
P7 Evaluate the different tools that Mr Green can use to develop retain and protect knowledge
and intellectual property..............................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................7
..........................................................................................................................................................7

INTRODUCTION
Innovation in a process to create some innovation and creative thing in the market to get
high customer attraction. It gives high opportunity growth and market scenario in terms of
making high profit share for the company. Present study will be based on Mr. Green Healthy
drinks. It will further explain about difference between innovation and invention. Then how
company can set their vision, mission and objectives with the help of innovation and
commercialisation. It also makes good presence in the market for business popularity. Further, it
will look upon shape innovation idea for Mr Green in order to overcome from competitors
challenges. It will more discuss about the importance of commercialisation funnel and the
application of new product and service. Moreover, it was the high opportunity and growth to
make good presence in front of their potential customers.
TASK 1
P1 Explaining innovation and determine its importance to organisation in comparison with
invention.
Innovation is the process of making good product and services with new great idea which
is not been created before. Organisation has based on new opportunity and growth. They always
explore things in new creative manner. It gives great opportunity and growth in terms of good
presence of manner. The process of innovation relies on various dramatically across industries
and product lines (Aarikka-Stenroos, Sandberg and Lehtimäki,2014). Innovation in
commercialisation is very must in the organisation which created most essential things for
business. Innovation has to be go on in the business, it helps to grow or to sustain business in the
competitive market. It is very useful for the organisation to take steps for further growth.
Moreover, like Mr Green started the new idea of selling Drinks which is new in the market but
after 2 years business growth has been decline due to heavy competition in the market.
Moreover, innovation and commercialization are the necessary process of making good things
which helps me to get better opportunity and growth. On the other side it also makes good
presence of making good company objectives. Moreover, it is the good process of making
challenging task to make new ideas and growth for business. Innovation is very much necessary
for business to sustain in the market. It also helps company to retain good customer retention
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process. Moreover, another major growth factor of the organisation is that to enhance better
opportunity growth (Carayannis, Cherepovitsyn and Ilinova, 2016v).
Innovation and invention both are the different form of style to produce new product
idea. Innovation is something which has been created by existing idea and invention is the
process which creates new idea of product and services. Without invention innovation is not bee
created.
P2 Explaining how organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation.
Business vision, leadership and culture created business objectives and helps to make
new opportunity and growth. Along with that, it also needs to start new services to grab the
customer attraction. Moreover, it is the long process of working and process to make good
presence. Innovation and commercialisation helps to set the objectives and target market goals
which help to enhance the company objectives (Datta, Mukherjee and Jessup, 2015). Along with
that, this process of making goods and services. Moreover, leadership styles and objectives helps
employees motivated always. Moreover, employees are always wanted to accomplish the goals
and objectives. Leadership styles used by the leaders to keep sustain the interest of employees.
Organisational goals and certain activities are has to be mentioned in the overall market
situations. Culture also helps to influence company structure and influences more factors.
Commercialisation also makes good factors and good proposal plans.
TASK 2
P3 Explain 4P’s of innovation and explains the use of the innovation funnel to examine and
shape innovation ideas.
Innovation is the continuous process in the organisation in order to meet the company
objectives it also makes some business objectives and analysing process. Company has to adopt
innovation process for making new customer reach such as Mr Green needs to adopt new
innovation strategies to retain the company objectives (Eesley and et.al., 2014). There are some
innovation P;s to make customers happy and satisfied.
Product innovation: Product innovation is the first Innovation P’s which needs to be required
must and productive. Product has to be modified as per the needs and wants of the organisation it
must be required by the organisation. Product must be unique and innovative as per the
requirement of market. Mr Green required taking new innovation in terms to compete with other
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competitors. Product must be those who satisfied the consumer’s satisfaction. Besides, new
product innovation grabs new business opportunities in terms of making good work skills.
Process Innovation: innovators can also focus processes through which products are created or
delivered (Hossain, 2015). It has to be very much required to make process easier and flexible.
Process must be shorter and reachable to customers. In order to take the customer attraction Mr.
Green require to t to adopt easier process through provides goods and services to customers. This
helps to influence sells of the product.
Position Innovation: The third process of focus involves re-positioning the perception of an
established product and process in a specific purpose. Brand value and brand image always
enhance customer. These positions of the company or product make new network and customer
attraction. Company needs to take its market or product position ahead. This helps to attract
customer demand towards the company product and services. This process also very helpful to
take market growth more effective (Ke and et.al., 2016).
Paradigm Innovation: it defines the redefines the dominant paradigms of an organisation or
enter sector. Change is the mental process which has to be change according to set standards. It
is moreover process which helps to make good changes. It is the ongoing process of the
organisation to make new innovation and created work. Along with that, innovation helps to
make new customer process. Innovation process is very essential for the organisation. If they fail
to make innovative process this makes company image down in the market.
Innovation funnel focus and innovation styles are the most required task. Every big
organisation approach new styles of innovation and achieve new process of working. Innovation
processes also influence many styles of working. Moreover, it gives new services and makes
good sales of the organization (Mollick and Robb, 2016). It influences new customer approach
and new style of management. Funnel innovation style makes new process of working. Funnel
examination is the necessary steps to provide better services to customers. Moreover, it is very
much required to take best new opportunities and best effective manner. Mr Green needs to take
some new styles and management skills which help me to make new environment skills. It is
important for company to make product portfolio. With the help of perfect examination it is the
long process to select best strategic functioning. Funnel is the process where customer examines
company sitte and product and services on the basis of their presentation. Customer always
examines product and services on the basis of company popularity.
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P4 explain development in frugal innovation and provide examples of how it is used in an
organisational context.
Company needs to make good resources and skills to adopt the best effective process. It
also required making good things (Mollick, 2016). Funnel process helps company to take new
further steps. Besides, moreover, funnel process must be based on the basis of company structure
or the basis of customer satisfaction. Funnel process always keeps customers happy and satisfied.
This also very distinct process of making goods and services perfect and competitive in the
market. This process of working helps to take the best effective process. Through, more process
has been take in more productive manner. Besides, this process helps to take new decision
making process of making goods environment. This overall process makes environment more
creative and effective.
Frugal innovation is the kind of new development in the organisation. It is the
development process of making good skills and quality development. Mr. Green should need to
acquire frugal innovation for their commercialisation (Song and et.al., 2016). Likewise, frugal
innovation is the process of reducing the complexity and cost of goods and its production. This
process ODF development Mr Green better focus on their product and services. Through they
easily grab the new opportunity and growth for their own development process. For example Mr
Green adopt planning of innovation that they sell biscuits and brownies with drinks as well. This
method of innovation may be work to enhance their sales process. Moreover, frugal innovations
mainly emerging in the context of emerging market. The main aim is to focus on the innovation
styles. Through company get more profit revenue from the company sells. Mr Green should also
look for the price strategies to grab the attraction of new customers or retain the interest of
existing ones. It is the kind of engineering term to produce some productive product and services
for their customers (Yin, Shi and Yan, 2014). It gives better growth for the company.
TASK 3
P5 Explaining the importance of commercial funnel and the application of new product
processing for commercialisation of innovation.
Commercial funnel is very much required for the company for their further development
process. It makes good profit making for the company development. This helps to company
through take its products to the end customers or buyers. Funnel consist some stages through
they attract buyers towards the company product and services.
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Attract: Marketing and advertising which bring visitors to your website, this may gives high
customer attraction (Carayannis, Cherepovitsyn and Ilinova, 2016).
Convert: Offers that inspires visitors to share their contract information.
Close: efforts which encourages leads and become paying customers.
Delight: Quality service that keeps your customers happy and satisfied. Along with that, it also
makes good presences.
Moreover, funnel is the another long process to make effective process making work and
effectively. Company also needs to acquire internet process which require to need good way of
thinking and long process (Mollick and Robb, 2016). Marketing funnels are designed to reflect
the journey that buyers go on. New product planning is the process of making new product and
services after doing proper research process.
P6 Innovation business case for an organisation including ways to access findings.
It is the necessary task to putting an innovation idea to getting the idea of new
development product. For that company needs to develop a business case. Business case
depending how big an idea is. There are some common aspects which is required to follow such
as Risk, identifying the resources and skills needed, what success will look like and business
case checklist (Mollick, 2016). Company needs to make business case according to the
innovation style through which they get their final objective and plans. Before, making business
case company needs to identify some major criteria to make things proper and effective. This
process may help to improve productivity, reduces costs, be more competitive, build the value of
your brand, establish new partnership and relationship, also enhance company turnover and
productivity. Besides, some factors also affect company policies due to loosing market share to
competitors, loosing key staff (Mollick and Robb, 2016).
TASK 4
P7 Evaluate the different tools that Mr Green can use to develop retain and protect knowledge
and intellectual property.
Intellectual property is the most essential and company own assets. Through they earn
their profit and loss. Moreover, intellectual property of the company are their name, logo, symbol
(Ke and et.al., 2016). This makes company safe and make awareness in the market. This also
makes very much essential and required task to accomplish the objectives and essential things. In
order to protect the intellectual property there are some tools to protect such as trademark,
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copyright, patents. This tools helps to protect company from their competitors. It makes good
impression in front of their company structure.
Trademark: trademark protect company names, symbol, devices and use images that are
applied on products and services to get connected with the customers (Ke and et.al., 2016).
Copyright: protect the expression of idea in literary artistic and musical works.
These intellectual property tools helps company to take care their assets and their brand
value in the market. Moreover, Mr. Green needs to acquire those things intellectual property to
make good impression on the customer. Moreover, this overall process helps to enhance the
company sales profit (Mollick and Robb, 2016). The rights of the property is only for those
individuals who owns all services. It makes good impression on the behaviour of employees or
customers as well. This process helps to make healthy and safe environment. The protection of
such distinction signs aim to stimulate and ensure fair competition. This also protect the
company innovation from their competitors (Mollick and Robb, 2016). Like Mr Green get low
sales because of their new competitors.
CONCLUSION
From the basis of above section it can be concluded that, market opportunities are not very
much effective and productive for the organisation growth. Innovation has been very much
productive and effective for growth. Innovation and commercialisation necessary for
maintaining. With the help of necessary task and effective process. Customer get more
attractive towards the work organisation. Present report based on productive management
skills. Along with that, it also discussed about 4 P’s of innovation through company can
easily make good productive services to grab customer attraction. Besides, Mr green needs
to adopt new product strategy in order to compete with big organisation. It helps company to
sustain their position in among their the organisation.
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REFERENCES
Books and Journals
Aarikka-Stenroos, L., Sandberg, B. and Lehtimäki, T., 2014. Networks for the commercialization
of innovations: A review of how divergent network actors contribute. Industrial Marketing
Management. 43(3). pp.365-381.
Carayannis, E.G., Cherepovitsyn, A. Y. and Ilinova, A. A., 2016. Technology commercialization
in entrepreneurial universities: the US and Russian experience. The Journal of Technology
Transfer. 41(5). pp.1135-1147.
Datta, A., Mukherjee, D. and Jessup, L., 2015. Understanding commercialization of
technological innovation: taking stock and moving forward. R&D Management. 45(3).
pp.215-249.
Eesley, C.E. and et.al., 2014. The contingent effects of top management teams on venture
performance: Aligning founding team composition with innovation strategy and
commercialization environment. Strategic Management Journal. 35(12). pp.1798-1817.
Hossain, M., 2015. A review of literature on open innovation in small and medium-sized
enterprises. Journal of Global Entrepreneurship Research. 5(1). p.6.
Ke, W. and et.al., 2016. Employing lead thiocyanate additive to reduce the hysteresis and boost
the fill factor of planar perovskite solar cells. Advanced materials. 28(26). pp.5214-5221.
Mollick, E. and Robb, A., 2016. Democratizing innovation and capital access: The role of
crowdfunding. California management review. 58(2). pp.72-87.
Mollick, E., 2016. Filthy lucre? Innovative communities, identity, and
commercialization. Organization Science, 27(6), pp.1472-1487.
Song, Z., and et.al., 2016. Perovskite Solar Cell Stability in Humid Air: Partially Reversible
Phase Transitions in the PbI2‐CH3NH3I‐H2O System. Advanced Energy Materials. 6(19).
Yin, W. J., Shi, T. and Yan, Y., 2014. Unique properties of halide perovskites as possible origins
of the superior solar cell performance. Advanced Materials. 26(27). pp.4653-4658.
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