Report on Innovation and Commercialization Strategies: Unit 8 Analysis

This report delves into the critical aspects of innovation and commercialization within a business context. It begins by defining innovation and its significance for employees, followed by an examination of how vision, leadership, culture, and teamwork can shape innovation and drive commercialization efforts. The report then explores the 4Ps of innovation (Paradigm, Product, Position, and Process) and the application of an innovation funnel, providing a framework for understanding and implementing innovative strategies. It also discusses the development of frugal innovation and its benefits. Furthermore, the report highlights the importance of a commercial funnel and the application of New Product Development. Finally, it provides guidance on building an Innovation Business Case and explores tools for knowledge management and intellectual property protection. The report uses Nisa as an example of a business to demonstrate the concepts discussed.

UNIT 8 INNOVATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
P1 Explain innovation and its importance to employees............................................................3
P2 How vision, leadership, culture and teamwork can shape innovation and
commercialization. .....................................................................................................................4
TASK 2 ...........................................................................................................................................5
P3 Explain 4Ps of innovation and use of innovation funnel. .....................................................5
P4 How organization can develop frugal innovation. ................................................................7
TASK 3 ...........................................................................................................................................8
P5 Importance of commercial funnel and the application of New Product Development. .......8
P6 Build an Innovation Business Case for organization. ...........................................................9
TASK 4 .........................................................................................................................................10
P7 Tools that can use to develop, retain and protect knowledge and intellectual property......10
CONCLUSION ............................................................................................................................11
REFERENCES .............................................................................................................................12

INTRODUCTION
Innovations in business organization is important in order to function its practices in a
more efficient manner. Generally innovation is the process of creating a more creative way t
conduct the tasks and activities of the business in order to increase the productivity and
profitability of the business, whereas on the other hand Commercialization is the process of
introducing new services and products in the market. This process revolves around various
phases from its introduction to its adoption in the market. This assignment is based on
importance of the innovation in the organization, ways through which organizational vision-
leadership- and teamwork can shape innovation and commercialization; and 4Ps of innovation.
TASK 1
P1 Explain innovation and its importance to employees.
Innovation is the process through which, organizations creates more effective processes
and methods to enhance the working of the business in order to ensure the productivity and
profitability of the organization.
Commercialization is the process through which new services and products of the
organization gets recognition in the market. It is the process which is sub divided into so many
other phases from its introduction to its adoption in the market.
Nisa is the one of the prominent chain of supermarket, based on Germany. The
organization follow the policy of cost effectiveness t keep the prices of its goods and services
low in order to attract the customers attention in the competitive market.
Nisa brought various kinds of innovations into their business function for maintaining
the competitive advantage in the market. Recently the remodeling plan of North based Nisa is
get approved and they announced that they invest good amount to remodel their stores to bring
innovation into their working. As the competition is increasing it is becoming very important for
the organization to modify their working in order o achieve the competitive advantage in the
market. Frugal innovations provide simplification to the functions of the organization so that
they can conduct their tasks and activities in a more effective and productive manner.
Innovation and commercialization is the matter of huge money and capital involved as it
takes so much money of the organization to enhance their working. It is not easy for each and
every organization to bring innovation into their organization. The Nisa which is based on the
United Kingdom is not very popular due to high competition and availability of the better

substitutes over their. So it does not see huge profit over there as the British customers don't lay
much stress on the price of the products their main focus is upon the quality. They are ready to
pay the high prices for the products, for enjoying greater quality. The Nisa UK face many
challenges in the competitive market, as because of the less innovative and creative offerings.
Competitors of Nisa in UK are most prominent and dominant one, so it creates a stressful
situation for the UK based operations of Nisa.
Invention is, the process of developing and presenting something unique, it is an overall
engineering process based on various kids of studies and implications. There are some
inventions which can be patented by the person or group of person who invented it. In Nisa a
product is invented by keeping some views, facts and figures in mind just t ensure that it is
unique and not offered by any other organization till date. Inventions can be turned into
innovations, it can be seen as the unique combination of : Disruption; Business Model
infrastructure and structure, timing and adoption (Akgun, 2017).
P2 How vision, leadership, culture and teamwork can shape innovation and commercialization.
Culture is the most crucial part of the innovation. A culture is based on all those factors
which are required and essential in the process of innovation.
Innovation is the concept that revolves around, idea; support; encouragement;
performance; success; goals ; contemplation and attitude. For shaping innovation and
commercialization with the approaches of vision, leadership, culture and teamwork following
points are to be considered by Nisa:
Enhance effective communication within the organization: The first and foremost step is to
ensure effective communication in the organization at all levels, if the employees of the Nisa
will feel that they are important for the organization and their suggestions and opinions are used
by the organization then they feel motivated and give their full potential in the working of the
organization. Open innovation will provide encouragement to the employees and keep them
involved in the growth and development of the Nisa.
Build climate of ideas: Innovations takes place when all the members feel that their ideas and
suggestions are valued by the organization. Nisa, deals with the food, beverages and other
household materials if they bring some kind of innovations into their working it will definitely
attract the attention of the customers. To bring innovation in the organization it is important for

the organizational heads of the Nisa to encourage all the suggestions and ideas provided by the
members of the organization.
Build a Diverse Team: Building up a team with different types of employees will help in
getting the more creative and prominent ideas. People with different skills and thinking come up
with different kind of solutions to solve the problems and helps in creating a environment that
provides high innovations and brings creativity in the organizations like Nisa.
Invention is the creation of something new and unique while on the other hand
innovation is creation of something that attract the attention of the customers in order to increase
the profitability of the organization (Bainbridge, 2014).
INVENTION INNOVATION
Invention is the creation of the new product. Innovation is the enhancement of the product
and services.
It refers to creation of new object. Enhancing the existing object.
Technical and scientific skills are required. Practical and creative skills are required.
Based on theories and implications. Practically implementation of the existing
objects.
Individual object. Group of ideas and objects.
TASK 2
P3 Explain 4Ps of innovation and use of innovation funnel.
Innovation is the process of changing or enhancing the working of the organization, in
order to increase the productivity and profitability of the organization. The innovation process
revolves around the 4Ps. This approach is used to identify the best suitable method which can

improve the working of the business. The 4Ps of innovation are: Paradigm, Product, Position and
Process.
Paradigm: Innovation is used to enhance the working of the business, the organizations should
assist that change can bring both kinds if impacts in the organization, negative or positive. It is
important fort eh organization to identify all the possible measures it can take to enhance the
profitability of the organization.
Product: Innovation is used to provide better goods and services to the customers. It is
important to analyze the changes that are need to be made. Employees of the organizations can
provide various types of suggestions and innovations to enhance the quality of the product.
Process: It includes production of the product, manufacturing, supplying; overall measure which
is used by the organization before offering the product in the market.
Position: Positioning is the concept which is use to analyze the framework of product and
services of the market, how they are presented in the market and it create impact on customers or
public whether it is getting recognition or not. And how to make its implementations better.
The step fifth involved analyzing the all four steps in order to identify the implications
and evaluations that are required. Organizations like Nisa deals in a highly competitive market it
is very important for them to bring innovation in to their working o regulate basis, so as to attract
the attention of the customers and it also helps in maintaining competitive advantage in the
market.
Innovation funnel is used to identify the steps and measures that are used by the
organization in the development of new product or process. Innovation funnel revolves around
three major steps:
The focus of first step is on the wide mouth of the funnel: this is the stage where organization
enhance their information and knowledge base, Nisa ca use this step to gain information about
its major rivals like Lidl and Walmart, the gained knowledge can prove to be useful in modifying
its working criteria. From where to gain the information is very important so as to identify the
relevance of the knowledge and the information and to evaluate market on the basis of the same.
The major focus of the second step revolves around the narrow segment of the funnel: This
step is useful because it helps in evaluating the gained information, whether it is useful or not.
Nisa can use this for identifying the usage of the gained information in implementing goals and

objectives and to verify whether the ideas will helps in attracting customers or not. This will help
in strategical implementations of the goals and objectives of the organization.
The third and the last step is narrow segment of the funnel: The concept of the funnel is very
easy to understand and implement for the organizations like Nisa.
Innovation is the process through which, organizations creates more effective processes
and methods to enhance the working of the business in order to ensure the productivity and
profitability of the organization.
Commercialization is the process through which new services and products of the
organization gets recognition in the market. It is the process which is sub divided into so many
other phases from its introduction to its adoption in the market (Flores,2017).
P4 How organization can develop frugal innovation.
Frugal innovation is the method to ease the working of the organization. It is use to
reduce the complexity of the tasks and activities and also to less the cost of goods and its
production. In general it is the method which is used to remove the useless expenses from the
working of the organization in order to increase its productivity and profitability.
Frugal innovation is the process of providing: Low cost designs; developing efficient
products; capital efficiency;manufacturing simplicity;optimizing features of customers interface;
estimating non- value adding features.
Illustration 1: Dimensions on which firms frugally
innovate.

As the competition is increasing it is becoming very important for the organization to
modify their working in order o achieve the competitive advantage in the market. Frugal
innovations provide simplification to the functions of the organization so that they can conduct
their tasks and activities in a more effective and productive manner. Frugal innovation is the
method to ease the working of the organization. It is use to reduce the complexity of the tasks
and activities and also to less the cost of goods and its production. In general it is the method
which is used to remove the useless expenses from the working of the organization in order to
increase its productivity and profitability. Generally it is the process of developing an innovative
system that are developed with the minimum use of resources and helps in meeting the user
requirement.
Frugal innovations can be used by Nisa to ease their working, it provides helps in
managing the different stores present in various cities so as to evaluate the working of each and
every store in a more effective manner.
Market driven innovations are the one which are based on the proper study, analyses,
identification of the resources that are essential for conducting the innovation process in a more
effective manner while on the other hand innovation is very necessary for the organizations like
Nisa in order to maintain their competitive advantage in the market. Innovations in business
organization is important in order to function its practices in a more efficient manner. Generally
innovation is the process of creating a more creative way t conduct the tasks and activities of the
business in order to increase the productivity and profitability of the business. Innovation and
commercialization is the matter of huge money and capital involved as it takes so much money
of the organization to enhance their working. It is not easy for each and every organization to
bring innovation into their organization (Ke, 2016).
TASK 3
P5 Importance of commercial funnel and the application of New Product Development.
Commercialization is the process of introducing new products in the market, in order to
create their recognition in the market. In order o maximize the profits from the sales funnel it is
important to understand the various factors that are related to the sales funnel, it is divided into
various stages and parts so as to make it understandable in a more efficient manner. In general
commercial funnel is the approach of the marketing strategy for creating a recognition of the
product or brand in the market. The first step involved in commercial funnel is to analyze the

attention from sales point of view, the second step is to analyze the individual who have shown
interest in the products ad offerings of the organization, and the third aspect is to qualified
prospects, and the fourth and the last step involved is to evaluate the clients on the basis of the of
purchase made by them, whether they are regular customers or they just made one purchase.
Commercial funnel is use to gain the loyalty of the customers towards the products and services
provided by the organization.
Nisa is the supermarket chain who deals in food, beverages and other household articles
it is very important for the organization to use the commercial funnel in order to gain ad
maintain the regular customers, this will not only increase the productivity of the organization
but also helps in maintaining its position in the competitive grounds of the market.
New product development is the process of introducing new products and services in the
market. The main consideration of new product development is the design of the product along
with the various kinds of business considerations within it. Basically development of the new
products is totally based upon the needs and desires of the customers so as to gain the
profitability for the organization.
Generally new product is the idea, which goes through various stages before its
implementation, the steps involved in New Product Development is :
Screening of the Idea: It should be based on the overall strengths, weaknesses, needs and
expectation of the company.
Developing concept and testing: It is the method to analyze the strategy and structure to the
idea implemented, it is done to check the implications of the idea.
Analysis of the business strategic development: It revolves round the competition involved in
the process, involved cost, pricing analysis and breakdown points (Rasmussen, 2017).
P6 Build an Innovation Business Case for organization.
Business case is useful to identify and justify the types of risks involves in the business,
for convincing the management team to implement the suggested idea and to ensure the logical
evaluation of each and every proposed thing.
Building the innovation case for the business revolves around various aspects that are
unique and tends to deal with the real problematic area of the innovation.
The effective business case provide affectivity and efficiency to all the business cases, is
should be a transparent process. There must be different types of creativity tools available to

initialise the process; then process of building up the case begins; the next step should be making
clear assessments; the next step involved is analysing the elements of the business case to
identify its logical implications. In Nisa business case ca prove to be very beneficial in order to
gain the competitive advantage in the market as of will provide analysis and evaluation of
overall condition of the market. Commercialization is the process of introducing new products in
the market, in order to create their recognition in the market. In order o maximize the profits
from the sales funnel it is important to understand the various factors that are related to the sales
funnel, it is divided into various stages and parts so as to make it understandable in a more
efficient manner (Sløk-Madsen, 2017).
There are different ways available to access funding for the business organisation:
 Bootstrapping your start-up business.
 Considering crowdfunding as the means of funding
 Getting angel investors for the start up
 Getting venture capitals for the business
 Raising funds from Business accelerators and incubators
 Raising money by taking loans from the banks
TASK 4
P7 Tools that can use to develop, retain and protect knowledge and intellectual property.
Intellectual property: It refers as creation of mind in term of inventions, literary, design, artistic
work, symbol, names, image, etc. It can be divide in two categories such as industrial property
and copyrights. In industrial property patent for invention, trademarks, industrial design and
geographical indicators considered. Furthermore, in copyright covers novels, poems, films, etc.
In addition to this, concept of traditional knowledge is varied which determines in various forms
of knowledge which held in traditional communities. There are different types of traditional
knowledge holders face difficulties in term of survival of knowledge. External social and
environmental pressure encroachment with modern lifestyle in traditional ways. There are
different kinds of IP tools must be considered in Nisa. They are as follows: Copyrights: Copyright is legal term that used to describe rights that creators over their
literary and artistic works. In this aspect, work covered in term of copyright with
different range from books, music, painting, etc.

 Trademarks: Trademarks can be deign with different symbols, this used to promote
brand and goods. Main aim in Nisa is to implement trademarks is to prevent unfair
competition through protect with use of symbol, word, logo, slogan, design, etc.
 Design rights and patent: Industrial designs are protected under patent law with
appropriate design patent. It protects only with appearance with features of a product.
Patent also protect inventions that offers by Nisa as new technical solution for a
particular problem.
Role of intellectual property in innovation and new product development
Innovation: Technological innovation classified in several perspectives such as product vs.
process. With the help of technological innovation, there are different perspectives driven in
competitive business environment to make technological innovation. Managing innovation is
better perspectives than the competitors to survive in today's economy.
Intellectual property, inventions and innovation: In order to consider value addition, it is
important to create unique with human intellect which assists to gather result from human
ingenuity, creativity, etc. It is more important perspective that assists to make appropriate layout
design in Nisa.
Implications of growth of open source and open innovation platforms upon IP
In the market, there are many players involved to facilitate in the market to make success
of innovation. In order to use effective tool of IP, risk reduced with acceptable return for
participation in process. In Nisa, it can be implement to for added value and underpins bigger
stream to generate more revenue and higher productivity.
Intellectual property protection is crucial to foster business innovations. Without
protecting ideas, business organization cannot manage full success and benefits. Protecting
intellectual property involves:
 Patent all the important information
 Take time to manage the intellectual properties
 Reduce the cost by conducting IP searches on own
 Work with the one who is specialized in the intellectual property
 Save money by working with specialized of different regions.

The importance of protecting intellectual properties and their process is to maintain the
individuality of the organization in order to enhance the growth and development of the
organization.
Intellectual properties are further divide into four sub-part: Trade secrets, trademarks,
patents and copyrights.
Nisa is the one of the very famous range of supermarket based on Germany, it is very
important fro the firm to maintain its intellectual property in such a way that organization can
retain maximum profit our of it. Their are various competitors of the Nisa, it is important for the
firm to maintain its individuality in the competitive ground of the market so as to gain the
advantage in the business (Yin, 2014).
CONCLUSION
From the above report it can be concluded that, Innovation and Commercialization is the
main aspect of the business organization. Innovation is the process of enhancing the functions of
the business while on the other hand commercialization is the process of introducing new
services and products in the market for providing it recognition in the market,this process
revolves around various phases from its introduction to its adoption in the market. Innovation
and Commercialization are two major aspect of the business organization to enhance its growth
and all the other factors that are available in the firm that can further use to increase its
productivity and profitability.