Posted: July 13th, 2022

Innovation And Commercialisation Assignment | Top Universities

Assignment Context And Scenario:

A UK-based organization of your choice wants to introduce new products into its existing market due to increasing demand. The Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r has studied the market for growth and potential profitability and is convinced that the organization should certainly develop new products. Your chosen organization’s competitors are currently engaged in developing new products, so developing new products is a must in this industry. In fact, the UK market is increasingly becoming competitive.

You have been hired as an innovation consultant to evaluate the situation and present recommendations on how the company should move forward with developing new products. Your answer should be in the form of a business report format to be presented to the Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r. The business report will address the following:

1. Explanation of the difference between invention and innovation.
2. The value and importance of innovation to organizations and how this can be embedded within the organizational leadership and culture.
3. The different forms of innovation and the four directions of change an organization can take. Explain the 4Ps of innovation and how this supports the capability and management of innovation. Advise the Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r which form of innovation he should engage in.
4. Discuss the approaches that the Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r can take to process innovative ideas, including the innovation funnel and frugal innovation.
5. Explain the steps the Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r should go through to derive a new and innovative product.

Assignment Brief – Continued

The Following Issues ArE Required To Be Carried Out:

1. Explain The Context For Innovation And Determine The Difference Between Invention And Innovation.

For your chosen organization to see the benefits of new products, explain innovation and determine its importance to organizations in comparison with invention

Using your chosen organization, explain how organizational vision, leadership, culture, and teamwork can shape innovation and commercialization.

For the benefit of your chosen organization analyze different sources of innovation, and how the organization can foster and develop an environment and culture of innovation. You should also critically analyze how innovation is developed, embedded and measured in your chosen organization.

2. Explain The Different Types Of Innovation.

You are required to explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. You should also analyze the innovation funnel and apply this concept to your chosen organization.

To demonstrate your understanding of innovation, explain developments in frugal innovation and provide examples of how it is used in an organizational context. You should also evaluate the role of frugal innovation in your chosen organization.

To further demonstrate your understanding of innovation, you should critically analyze how innovation is developed, embedded and measured in your chosen organization.

3. Discuss The Process Required To Commercialise Innovation.

To demonstrate your understanding of the innovation, explain the importance of the commercial funnel and the application of new product development (NPD) processing for commercialization of innovation.

The Innovation Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage r needs to be convinced that developing a new product is the way forward for the organization. You are required to build an innovative business case for the organization, including ways to access funding. The innovation case should also be detailed and should include how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve (e.g., market survey, projected fund flow statement, etc.

4. Write a word essay – Evaluate The Range Of Methods For Protecting Ideas And Understand Their Advantages And Disadvantages.

Using your organizations, evaluate the different tools that it can use to develop, retain and protect knowledge and intellectual property. You should also present a supported evidence-based evaluation of these different tools in the context of the wider business environment. Get Marketing Assignment: I need help writing a research paper.

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