Innovation and Commercialisation Report: Business Management HND

This report examines the concepts of innovation and commercialization within a business context, using Facebook as a case study. It begins by defining innovation and its importance, then explores how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The report delves into different sources of innovation and the fostering of an innovative environment. It covers the 4Ps of innovation, the innovation funnel, and frugal innovation. The report also analyzes Facebook's product development, including the use of testing methods and the protection of intellectual property rights. The report also includes references to sources that provide support for the concepts described.

INNOVATION
AND COMMERCIALISATION
TASK 2

TABLE OF CONTENT
1. Background of the company and the problem
2. Scope of ideas for developing new products.
3. Solution to the problem
4. Tools and Techniques for testing
5. Intellectual property rights

BACKGROUND OF THE COMPANY AND THE PROBLEM
– Facebook is an American online social media as well as social networking service company based in
Menlo Park, California. The website of the Facebook was launched by Mark Zuckerberg in 2004. The
official stated purpose of Facebook is to make the world more open as well as connected.

SCOPE OF IDEAS FOR DEVELOPING NEW
PRODUCTS.
– Idea Generation-
– Research and Development process
– Review Quality Assurance Processes

SOLUTION TO THE PROBLEM
– Matching Goals to resources and capabilities
– Identify risk
– Leadership Challenges and Motivational Drivers
– Key Performance Indicator (KPI)-

TOOLS AND TECHNIQUES FOR TESTING
– Facebook will use 7 days testing tool in launching this feature. They will launch
this feature for 7 days in the market if this will work or liked by customers that
they will continue otherwise Facebook will eliminate this feature and bring
improvement according to the needs.

INTELLECTUAL PROPERTY RIGHTS
– Intellectual property rights are the rights given to the persons over the creations
of their minds. There are two main types of rights which are as follows-
1. Trade Mark
2. Patents

REFERENCES
– Tanev, S., Rasmussen, E.S. and Zijdemans, E., 2015. Product innovation and
commercialization in lean global start-ups: the challenges of turning uncertainties into
risks. In 22nd Innovation and Product Development Management
ConferenceInternational Product Development Management Conference. Proceedings.
European Institute for Advanced Studies in Management.
– Ke, W., Xiao, C., Wang, C., Saparov, B., Duan, H.S., Zhao, D., Xiao, Z., Schulz, P.,
Harvey, S.P., Liao, W. and Meng, W., 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.
– Osoro, O., Kirama, S. and Vermeulen, P., 2017. Factors Affecting Engagement and
Commercialization Of Innovation Activities of Firms in Tanzania. Tanzania Economic
Review.4(1-2).

THANK YOU