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22573 Innovation And Commercialisation

tag 0 Download 17 Pages / 4,111 Words tag 30-09-2021


Task 1

a). Explain innovation and determine its importance to organisations

b). Define and explain invention and its importance to business and how Heinz could continuously employ the two to improve its chances in the industry sector. 

c).You should also explain the difference between innovation and invention.

Task 2

Explain how Heinz could use its organisational vision, leadership, culture and teamwork to shape innovation and commercialisation of its invention. You may need to research on Heinz’s Vision, culture, leadership as well as the way it operates its team to help you this section.

Task 3

Analyse different sources of innovation, and how Heinz as an organisation can foster and develop an environment and culture of innovation in order to improve and sustain it current position within the industry.

Task 4

Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas. 

Task 5

Explain meaning and developments in frugal innovation and provide examples of how it is used in an organisational context. Explain how Heinz could adopt this method to improve its position

Task 6

Analyse and how Heinz could apply the innovation funnel in its organisational context.

Task 7

Evaluate the role of frugal innovation in an organisational context relating your evaluation to Heinz.

Task 8

Critically analyse to Heinz, how innovation is developed, embedded and measured in an organisational context. Advise them the best way these could be handled by the company.

Task 9

Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation to the company.

Task 10

Provide a strong case for the business to be innovative and advice the business on how it could access funding to finance it innovation.

Task 11

In addition to your points and arguments in task 10, provide a detailed Innovation Business Case for Heinz which should include suggestions on to measure its overall effectiveness of the innovation using appropriate techniques available to test, iterate and improve the business.

Task 12

Critically evaluate the nature of innovation and the context in which it is developed, providing evidence-based judgements on how organisations such as Heinz can overcome challenges to develop successful innovations.

Task 13

Evaluate the different tools that organisations can use to develop, retain and protect knowledge and intellectual property.

Task 14

Present supported evidence-based evaluation of these different tools in the context of the wider business environment. Your evaluation in Task 14 must draw examples from different companies to support organisational practices of the tools identified in task 13.

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Total 17 pages

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