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Innovation and

Commercialization
Contents
Introduction ..................................................................................................................................... 2
LO-1: The context for innovation and the difference between invention and innovation .............. 2
Task-1: Explaining innovation and determining its importance to organizations in comparison
with invention ............................................................................................................................. 2
Task-2: Explaining how organizational vision, leadership, culture and teamwork can shape
innovation and commercialization. ............................................................................................. 3
LO-2: Explaining the different types of innovation ........................................................................ 3
Task-1: Explaining the 4Ps of innovation and the use of the innovation funnel to examine and
shape innovative ideas. ............................................................................................................... 3
Figure-1: Innovation funnel .................................................................................................... 4
Task-2: Explaining developments in frugal innovation and provide examples of how it is used
in an organizational context ........................................................................................................ 5
Figure-2: Frugal innovation .................................................................................................... 5
LO-3: Discussing the process required to commercialize innovation ............................................ 5
Task-1: Importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation....................................... 5
Task-2: Building an Innovation Business Case for an organisation, including ways to access
funding ........................................................................................................................................ 7
LO-3: Evaluate the range of methods for protecting ideas and understand their advantages and
disadvantages .................................................................................................................................. 8
Task-1: Evaluating the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property. .......................................................................................... 8
Form-1: Apply for Patent ........................................................................................................ 9
Form-2: Apply for Trademarks ............................................................................................. 11
Form-3: Apply for Design registration ................................................................................. 11
Conclusion .................................................................................................................................... 11
References ..................................................................................................................................... 12

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Introduction
As organization start refocus on growth, innovation has at the end of the day turn into a need.
Innovation organizations use to create smart thoughts and transform them into products and
services has changed little since before the emergency, and not on account of managers thought
what they were doing worked flawlessly. Innovation is essential crosswise over development
systems. Be that as it may, a somewhat littler share of officials at organizations looking for
development in their centre business say innovation is exceptionally important. This paper is
prepared on the major concern for the organization that is innovation and it commercialization.
The report shows the importance of innovation and influential factors to formulate the innovation
process. This report also shows the different steps of innovation process and its
commercialization for the organization. Lastly, different tools for developing and protecting the
intellectual property are described with the importance and procedure for gain the ownership of
the property.

LO-1: The context for innovation and the difference between invention and
innovation
Task-1: Explaining innovation and determining its importance to organizations in
comparison with invention
According to Gorman (2007), innovation alludes to changing procedures or making more
powerful procedures, products and services. For organizations, this could mean executing new
ideas, making dynamic products or enhancing its current services (Business.gov.au, 2017). Being
innovative does not just mean inventing. Innovation can mean changing the existing plan of
action and adjusting to changes in current condition to convey better products or services. There
are many advantages for an organization executing creative services strategies and procedures
inside business comparing to invention. Invention is the process of creating new thing at first
time whereas innovation is the continual process of invention (Spulber, 2014). Although
invention provides the first appearance in market, innovation makes capable organization to gain
competitive advantages. Evaluating the business environment, it can be said that innovation is
the critical tool to stay the market. In today's continually progressing global advancing economy,
it is critical that organizations have entry to the best thoughts and capacities from around the
globe, so as to show a genuine business advantage. Innovation in Business can help remain in
front of the opposition as the market and pattern keep on shifting (SearchCIO, 2017).
Organization that can't innovation, considering their present assets, opportunities to
improvement, reaction to customer needs and reckoning of future patterns, it faces risk working
wastefully (Business, 2017). Organizations that advance make more effective work forms and
have better efficiency and execution. Innovation can greatly affect the total process of producing

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the products from concept development to delivering to customers. In the immeasurable options
of innovation, organizations can take high risk and identify the gaps and prepares the
organization for next step improvement through innovation new process and procedure.

Task-2: Explaining how organizational vision, leadership, culture and teamwork


can shape innovation and commercialization.
Innovation and commercialization are greatly affected by the organizational vision, leadership,
culture and teamwork. Organizational vision determines the organization for next decision to
take the future advantages. Long term decision makes the organization more effective to match
with innovation. When organization prepares a long term vision and tries to achieve its vision,
innovation is required to adjust the services and products changes with the changing situation in
the market (Jonathanhalls.net, 2017). Workplace innovation is also influenced by the
organizational environment. Organizations turn out to be exceedingly innovative when
employees have the opportunity to be innovative and grow new thoughts, items, services and
methods for doing work (Emeraldinsight.com, 2017). According to Burns (2012), leadership
plays a decisive role in enhancing organizational creativity. Research on innovation gives
confirm on the particular advantages of directive and participative leadership as to various
development related objectives. Inquire about innovation gives prove on the particular
advantages of directive and participative leadership with respect to various development related
goals. Several studies demonstrate that participative leadership empowers innovation and the
improvement of new thoughts (Driving Creativity and Commercialization, 2014). Cross
functional activities can make development between utilitarian spaces, coordinate up and
downstream learning to encourage the move to generation, and separate information boundaries
between useful divisions. The general suspicion is, along these lines, that cross-usefulness adds
to the execution of development groups. The team work leads to organizational to innovation.

LO-2: Explaining the different types of innovation


Task-1: Explaining the 4Ps of innovation and the use of the innovation funnel to
examine and shape innovative ideas.
Innovation is a sound of each corner. What might be new and radical for somebody, might be old
news for others. Innovation provides greater impacts on organizational decision (Veza.biz,
2017). 4Ps of innovation is consists of four controllable alternatives based on which organization
gives emphasis on the part of innovation considering the strong points of organization. The 4Ps
are described below-

Product innovation: Maybe the all things considered comprehended kind of innovation is
what presents or enhances the estimation of products and services (Doyle and
Bridgewater, 2012). Considering the scenario, Essence Drinks may produce new products
with new flavor, color, new ingredients and new shapes. New products innovation
provides the customer demand with satisfaction.

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Process innovation: The process determines the method of producing the products in the
organization. The existing method may not be effective to gain competitive advantages
for the organization. In this situation, organizations need to invent or prepare new process
that will be coping with the changing demand and requirement in the market (Ziarab,
hussain and Sher, 2017). That means that new and competitive process must be added or
replaced in the existing one. As Essence Drinks is facing lower market growth through
former process of production, it should search for new process.
Position innovation: Position-based innovation alludes to changes in how a particular
item or process is seen representatively and how they are utilized to accomplish the
authoritative objectives. Essence Drinks should open up new market segments targeting
individuals based on age and gender.
Paradigm innovation: The last "P" of 4P of innovation show identifies with innovation
that characterizes or rethinks the predominant paradigm of an organization or whole part.
It concerns the change in the way something is done in the association (Doyle and
Bridgewater, 2012).

Using innovation funnel, organization can examine the created ideas as the selected innovation.
The point of any innovation development to use in organization, it must consider the innovation
funnel that works as a scanning tool to select the best one (Ifm.eng.cam.ac.uk, 2017). An
innovation channel is utilized to portray the means that occur in developing a new process or
product. The reason for all innovation is to make products or services that address the customer
demand and fulfill the market demand.

Figure-1: Innovation funnel


At the beginning of the funnel, many alternatives are prepared and innovated based on the
problem and gradually the alternatives are judged and monitored considering the competitive
advantages and lastly the appropriate option is selected to use in the organization.

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Task-2: Explaining developments in frugal innovation and provide examples of how
it is used in an organizational context
In recent year, organizations hoping to extend have moved their concentration to emerging
markets. They should change their way to deal with innovation and frugal innovation is like that.
Frugal innovation concerns value sensitive design and advertising methodologies that bring
modern products inside the range of moderately poorer buyers (Berridge, 1977). Through re-
building and re-designing high-esteem customer products and drastically bringing down their
unit purchaser price, an essentially expanded scope of products can be made reasonable for
extended customers (INSEAD Knowledge, 2017). Frugal innovation reacts to limitations to
resources, regardless of whether money related, material or institutional, and utilizing a scope of
strategies, transforms these limitations into strength. Through limiting the utilization of resources
being developed, creation and conveyance, or by utilizing them in new ways, frugal innovation
brings about significantly bring low cost products. According to Berridge (1977), effective frugal
innovation is minimal effort, as well as beat the option, and can be made accessible everywhere
scale. Regularly, yet not generally, frugal innovation has an unequivocally social mission.
Through frugal innovation, organization consider the customer affordability and provide new
customer value chain to customer.

Affordability analysis

Knowing customer

Creating new value chain

Figure-2: Frugal innovation


Frugal innovation determines the organization to take market analysis to get the customer
information and based on the market information, organization decide to innovate new process of
production to provide low cost products to customer.

LO-3: Discussing the process required to commercialize innovation


Task-1: Importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation.

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Shown in Poster Presentation

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Task-2: Building an Innovation Business Case for an organisation, including ways
to access funding

Shown in Poster Presentation

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LO-3: Evaluate the range of methods for protecting ideas and understand
their advantages and disadvantages
Task-1: Evaluating the different tools that organisations can use to develop, retain
and protect knowledge and intellectual property.
In the regular practice of business, innovation can be occurred. To make this effort fruitful in any
organization, it needs to see unmistakably what potential outcomes protected innovation can
provide it (Protection, 2017). As Essence Drinks modelled a new product named Healthy
Water through innovation, it needs to registered according to the Laws for claiming its own
product and concept. Organization uses different tools like patents, trademarks, copyrights to
develop and protect its own product from being replicate by other companies. These tools are
described below-

Patents: Patent is a tool for an innovator the privilege for a constrained period to prevent others
from making, utilizing or offering a development without the authorization of the inventor
(Protection, 2017). The essential motivation behind the patent framework is to energize
development and the change of mechanical procedures. Considering Essence Drinks, it modelled
a new innovation as Healthy Water and it can request for patent for that innovation by fulfilling
the specific form.

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Form-1: Apply for Patent

Trademarks: Trademark is a name, word, motto, plan, image or other one of a kind device that
recognizes an item or service. Trademarks are secured by licensed innovation rights. Trademarks
are registered at a national or regional level with a selected government body and may take any
place in the vicinity of 6 and year and a half to be handled (Gov.uk, 2017). To get a trademark
for Healthy Water by Essence Drinks, it has to follow the form-

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Form-2: Apply for Trademarks

Design Registration: A design refers to the elements of a shape, design, example or decoration
connected to a product by any organization. By enrolling the design, organization gets a privilege
to possession and the privilege to keep others from utilizing the design without its consent
(Gov.uk, 2017). Essence Drinks may apply to register the design of new product by following
the form-

Form-3: Apply for Design registration


Thus organization can develop new intellectual property and can retain the property from being
used by others.

Conclusion
Encouraging innovation, commercialization and new product development in UK is critical to
meeting client requests. Innovative organizations use R&D and new thoughts to enhance existing
products and make all the more new ones. Organizations that report new innovation likewise
market new innovation and draw attention to market. In return, organizations get new market for
open doors and development. At long last, a robust culture of innovation and commercialization
has benefits that augment more profound into the assembling part. Another item made by one
producer can be utilized as input for another. A culture of assembling innovation in this way
makes ready the organization to take more advantages from the industry. New Product
development is also critical for long haul achievement of assembling in UK. The process for
establishing the product ownership is another concern for business organizations.

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