Innovation and Commercialization: A Hartridges Soft Drink Analysis

This report delves into the crucial aspects of innovation and commercialization within the context of Hartridges Soft Drink. It explores the significance of innovation compared to invention, emphasizing its role in market development and organizational growth. The report analyzes the importance of organizational vision, leadership, culture, and teamwork in fostering innovation and successful commercialization. It further examines the application of the 4 P's of Innovation and the innovation process to shape employee ideas, including the development of frugal innovation. The report also highlights the commercial funnel and the utilization of the New Product Development process, along with building an innovation case for Hartridges and exploring funding options. Finally, it addresses the tools used for knowledge development, protection, and retention of intellectual property within the company. The report provides a comprehensive overview of strategies for enhancing business processes and launching new products in the market.

INNOVATION AND
COMMERCIALIZATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P 1. Innovation and importance in the organizations in comparison with invention..................1
Importance of innovation in market............................................................................................1
TASK 2............................................................................................................................................3
P2. Importance of organizational vision, leadership, culture and teamwork in shaping
innovation and commercialization..............................................................................................3
P3. The 4 P's of Innovation as well use of Innovation process for examining and shaping the
innovative ideas of the employees of the Hartridges soft drink..................................................4
P4 Develop Frugal Innovation with suitable Examples..............................................................6
TASK 3............................................................................................................................................6
P5.Importance of Commercial funnel and Utilization of the New Product Development
process for the Commercialization..............................................................................................6
P6.Building an innovation case for Hartridges soft drink including various ways of accessing
funds............................................................................................................................................7
TASK 4............................................................................................................................................7
P7 Tools used for Hartridges and develop, protect, retain knowledge for the intellectual
property.......................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation and Commercialization is a process when it can be developed and innovative
new ideas for market purpose and that helpful for the business process. It is a very important
factor in market. The main purpose is to innovating their new ideas for development and provide
the best services to customer. In this way, the customers are using this product and the cost of
economy is increasing. In this report, they understood the innovation idea for business process
and with the help of this concept generated innovation for commercialization.
In this report, it determines actual business strategies that would helpful for business
planning innovate new ideas and it can provide good services to customers. Innovation is a
dynamic process to create their own design that would be applicable for business and it is
creating a new design product in market.
TASK 1
P 1. Innovation and importance in the organisations in comparison with invention
Innovation is the best process to understand the concept of new market approaches that
are useful for the development with the help of these approaches the market level has been
increased and their share value also increased (Thomson, 2015). In this way, The competition
level has increased in market that would be tough for every organization to maintain their level
in market.
It is the best approach to identifying the requirement of customer and according they are
planning to create new idea for the development (Kwan, 2017). This is very important for the
business operations because most of the people are interacted to their new product and they have
to change their plan according the need. Innovation increases quality and their services in
market. Hartridges Soft Drinks Company will provide new product in market and launched soft
drink with different flavours because of the customer requirement.
Importance of innovation in market
Increasing productivity-
Productivity is an important part of every organization where they use new ideas and
approaches that can be applied for business process so that it is automatically the demand of
customer has been increasing that would be beneficial for the Hartridges Soft Drinks. They can
be change their interest regarding the product. They can be used new technologies in Hartridges
Soft Drinks. This is the best way to explore their product in market so that people are interacted
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to this product. The Hartridges Soft Drinks can be increased their productivity because of new
technologies are used in the market. Sometimes, the innovation can be taking so much time for
the implemented and it can be not sure about the profitability.
Customer satisfaction-
The customer satisfaction is main objective of the organization because the company
provides the best services to their customer and it can be innovate idea are used for the new
product launch so that the customer are attracted to their product. In this way, the new customer
is also attracted to the product. This is very important for the organization to increasing their
revenue so that it is important to customer can be satisfied (Hodges, 2016). The Hartridges Soft
Drinks can be satisfied their customer because of their innovation and they can be launch new
product in market. Innovation is totally changed the quality of services and their product. It is
very important to customer understand the quality of product. This is main objective of the
Hartridges Soft Drinks
Competitive advantage-
It can be increased the competition level of market is increased in day by day because
there are many products launched in market. This is the best way to identify the level of product
in market, it determines the market value, and it also increases their share value because of
innovation (Braunerhjelm, Ding and Thulin, 2018). It can change the quality of product and
provides the best services to the clients. The new ideas are always attracted to the customer in
whom they are provided so much new feature and taste that people likes so much. They are
always increasing their profit value.
Involvement of stakeholders-
Stakeholder is a important part of organization that can be implemented new ideas for the
innovation. Stakeholder is the main part of Hartridges soft drink because they will manage the
company in which it can be identifies the innovation ideas that are helpful for business process.
They will provide some effective suggestions for development. They are helpful for providing
new ideas to business.
In this way, It states that determines the innovation for the business process and it is
process to manufacturing a new product in market. Sometimes, the organization is used old
product and they are only putting some extra feature while it launch in market. Innovation is that
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create a whole new product in market and Invention is that using existing product. This is the
best approaches for the innovation in which it will increase their profitability.
TASK 2
P 2- Importance of organisational vision, leadership, culture and teamwork in shaping innovation
and commercialization
There are very important for an organization such as leadership quality, teamwork and
company vision that are helpful for innovation to create new product in market. It is very
beneficial for Hartridges to increase their productivity and gaining lots of profit through these
features.
Leadership-
The Leadership quality is very important for an organization because a leader can
manage the whole team effectively. At the time of innovation, it can be play an important role
for the product development. Every company has a leader that would be control the management
through their skills. Leadership quality is very important to understand all requirements of
customer.
Organizational culture-
The working culture is very important for every organization because an effective
environment will helpful for innovate new ideas. The Hartridges soft drink will be maintain their
working environment and they will provide the best services to their client. It can be manage the
whole department and provide the better services to their employee. Hartridges soft drink will
launch new product in market because their innovation ideas increases through the positive
working culture.
Organizational vision-
The goal of company is fixed when they are doing work on a particular direction for
manufacturing a new product in market. Some times, Hartridges soft drink vision is clear to
increase their product in market and always new product are launch because of customer need. In
this way, it increasing their productivity and can be earning a lot of money.
Team work-
It is very important to understand the business process to established a new product in
market. Team working is important part to creates a new idea on a particular discussion that
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would creating a new scheme. Team work is always built a coordination between the other
employee. They work together and creating a new product that are beneficial for the growth of
company.
These are main point of the Hartridges soft drink Limited useful for the innovation and
commercialization in Hartridges soft drink limited. It is very simple innovation process to
generate a new ideas and the company has fix vision to working on a particular direction to
achieved their goal. The team Leader will help to those employees who has minimum skill and
they can help to increasing their skill (Altman, Nagle, and Tushman, 2015). The organization
has good working culture play an important role because of the innovation. Hartridges soft drink
always try to implemented new things are added in their product so that it increasing their sales.
TASK 2
P3: The 4 P's of Innovation as well use of Innovation process for examining and shaping the
innovative ideas of the employees of the Hartridges soft drink
In Hartridges soft drink, Innovation is a procedure to innovate their new ideas for the
business process and this is very helpful for the market to increasing their profit growth. 4 P's is
process to innovation of ideas and that would help to increasing the performance of product
quality in which the whole process is managed by the management (West and Bogers, 2014). It
is a method to identifies the requirement of customer and then creating a special type of new
product in market. The market growth is increasing day by day because of the technology.
Most of the organization are used modern technology when the role of particular
company has to be specific and it can very easy for the firm to maintain the whole market.
Hartridges soft drink company will provide the customer services and with the help of these
services, they can easily identify the reviews of every customer and then according to customer,
They will launch a new product in market that are beneficial for both company and customer. It
is a very effective ideas to cover all the areas related the product and it will be managed the
whole manufacturing process.
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There are many customers interacted to this soft drink because they like to drink and
which are good for the company. The 4 P's can be important for the Hartridges soft drink that can
be directly impact to the innovation process. There are many products of Hartridges such as
Fruit juice and juice mix and this is innovation of the different variants in juice. Hartridges soft
drink Limited is creating a new strategy for the business planning and it can be increasing their
values in market. The management will control the whole business planning and can be
connected to the business strategies. The Hartridges soft Limited is creating a new value in
market and most of the people are directly interacted to the sales team and it builds their own
identity in market. They are build a better position in United Kingdom because they can build a
good relationship with their customer and always provides a good services to customer.
There are some effective strategies followed for the business process and explore their
innovative ideas in market.
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Illustration 1: 4P's Innovation
( Source:4P's of Innovation,2017)

Operation Innovation-
The operation innovation is a process to innovate a new idea towards the company
profitability. It is always to create a new idea for the business planning and launch a new product
in market. If the organization are launch a new product so that the outcome of result is unique for
the company. The Hartridges are always changed their style for production because they are
always tried something for the development.
Product-
The Hartridges soft drink are always changed their product quality for the profit and it
will improve the quality of services. They are focused on their innovation ideas to provide the
best services which are very effective for the organization (Anderson, Potočnik and Zhou, 2014).
In this way, most of the customer are directly interacted to the product. Innovation is the best key
element for the organization to change their product quality and then it also increasing profit.
Position Innovation-
The main objective of the innovation to launch a new product in market so that they can
gain lot of money and also build a new position in market. Hartridges soft drink Limited has to
gain an effective position in market because they are re-launch their product in market again and
again. They are sell their existing product in market and while using the extra services are added.
In the market position is very important because the customer are interacted through the brand. It
is very important for the company.
Paradigm Innovation-
It also changing the perception of people to build a good relationship with the
organization. This is very important for the organization.
P4 Develop Frugal Innovation with suitable Examples
In Hartridges Soft drink Limited, they are using some special techniques to solve the
problem of any innovation that can be part of the Frugal Innovation. It can be achieve all
company goals and target. It always focuses on the product quality and provides the best services
through the technology. They are promoting their product in very effective prize through the
digital marketing and it is the best medium to provide all information related product to customer
so that the customer are attracted to their product. In this way, they have to increase their brand
value in market and increasing their shares (raunerhjelm, Ding, and Thulin, 2018). Hartridges
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soft drink are adopted the Frugal Innovation and it can be change their product and the level of
competition has been increased in a worldwide market.
Their aim to build a good position in market to creating a good relationship with the
customer. The Hartridges soft drink are maintained the position in market and it also participates
as good competitor to other organization in United Kingdom. The main motive of Frugal
innovation to maintain their position in which it increasing their productivity.
TASK 3
P5: Importance of Commercial funnel and Utilization of the New Product Development process
for the Commercialisation
It is a development process to identify the new product requirement in market and then
developed a new project. It is way to determine the actual project need that would be beneficial
for the manufacturing. This is the development process when the organization are selecting some
important project that are good for the organization (Aghion, and Jaravel, 2015). They are
creating many structures for creating innovative ideas and collecting various type of information
that play important role for the development. There are many products launch in market so that
they are using a different strategy for the project development.
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Illustration 2: Frugal innovation
(Source :Frugal innovation, 2016)

The first strategy to expanding their business to improve the product performance and
knowledge. The second planning is to focus on a particular process to innovate their ideas that
would finding the actual resources in market to manufacturing a new product. The third steps is
to deliver the project in which it identifies the actual objective and the project has to be
approved. Hartridges soft drink has established their business is important to improve the
performance of market strategies and their marketing planning.
Dr. Robert Cooper, is the great researcher to research on a product development in
business and they are identified the actual innovation plan that would be more reliable for the
product development. They would be analysis the whole business approaches and their planning
according to the innovation. They are launching a new aspect of market and give the review
through the research. It can be analysis the whole internal and external factor of this market and
they are finding the market trends and then creating their own review for this project. The
researcher are giving a testing concept to test the design of project,
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Illustration 3: Commerical Funnel Diagram
( Source :Commerical Funnel, 2018)

P6: Building an innovation case for Hartridges soft drink including various ways of accessing
funds
Hartridges soft drink are used some information to collected the detail of particular tool
that are helpful for the innovation. In this way, they are identified the actual prize of product in
market because in market, same type of product are available but the prize is different (de Araújo
Burcharth, Knudsen and Søndergaard, 2014). They are providing a different services so that
customer would be satisfied. They are providing the ready-made soft drink because the
technology has been expanding all over the world. The organization was taking fund for the
investor to improve the innovative technology for the business process. For Example- bank
Loan, personal economy etc.
The organization are taking so much funding to the investor for the development and they
are always focused on the innovation target to achieve their goals. Some times, the organization
are invested lot of money for the innovation and they are taking funding from the bank and other
sources. The management is decided to taking funding for analyzing the best source for the
development.
TASK 4
P7 Tools used for Hartridges and develop, protect, retain knowledge for the intellectual property
There are different tools used for Hartridges soft drink as follows:
Training and Development-
The organization is provides an effective training program for the employee development
and the employee can be enhance their knowledge so that they would help for the growth of
company (Thomson, 2015). They are always providing the different type of facility to improve
their performance.
Continuous Learning-
The learning process is very important for the employee because they are learned a new
thing that would be helpful for the growth of organization because with the help this skill they
are enhanced their knowledge for the development. They are easily achieved their goals and
targets.
Leadership Quality-
In organization, the leader can be play an important role because the leader should be
maintain the department and it can be control the whole management system. They are taking
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responsibility to provides the services to employee (Mowery, Nelson, Sampat and Ziedonis,
2015). They are always focused on to achieve their goals. Leadership quality is very important
part to convince the other person in every efficiently manner. They are always helped to those
employees who has minimum skill and improve their performance with the help of Leader.
Property right-
Every person has equal right to secure their property and it can be protected their
property in which this right is given by the government because the other person cannot be stolen
their property. This law is given by the government to secure their property. It is an attribute to
provide the good services and security through government.
Branding-
Branding is an important process when it is required for the execution of business
operation at every aspects. Branding is basically used for the innovation of new ideas and that
would be launch a new product in the market. It also increasing their revenue. Branding is best
approaches when the customer are directly interacted to the product.
Patents- patent is useful thing to protect the innovation ideas and it is process to creating an
effective structures and process of the growth and development.
Trade mark- it is very important for organization to usually helpful for brand value and their
speciality. Differ net organization has unique trade mark logo and their own design. This is very
important of every organization to increasing their values in market.
Copy rights- It will protect the original textual format and it is a unique artist that has specific
values. Every organization has unique value copy right that cannot be change by other person.
Trade Secrets- it will protect the important information of organization in which it will provide
security in market. The data would be confidential and can not be misuse the information.
CONCLUSION
In this report, it can be learn about the innovation and commercialization in market in
which it is very important for the business process. Hartridges soft drink can be innovation of
new ideas for the beneficial for the organization. It can be explain the benefits of innovation and
how the organization are used them. As per discussion, there are many innovations areas for the
Hartridges soft drink Limited analysing in this whole report. It can be discussed about the 4 P's
that would be innovation used for the funnel. In this report, it can be used different process for
the development.
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