“Amazon appears to be preparing to open checkout-free grocery stores in Britain after registering a UK trademark for its Amazon Go format”.
In recent years, governments and organisations everywhere have woken up to the importance of innovation, with companies such as Amazon Inc., which are focusing on growth, wealth creation as well as the market expansion.
Amazon Go store lets shoppers pick up goods and walk out
Grocery store in Seattle has no checkouts, with purchases automatically billed to customers’ accounts
Amazon has opened a corner store where customers can pick up their groceries and just walk out without having to queue up and pay at the checkout.
The company said shoppers at its Amazon Go store will have the cost of their purchases automatically billed to their Amazon Prime account. Sensors will track customers as they go about the store and record items they pick up.
Amazon employees can already shop at the first store near the company’s headquarters in Seattle, which will be open to the public early next year. Leaked internal documents suggest Amazon could open 2,000 of the stores across the country, while the international locations will be open from 2018.
Assignment Brief and Guidance:
You are to produce a business report to senior management to provide background information to explain the context for innovation at Amazon Go and to also determine the differences between invention and innovation by providing some examples from industry. This report will help senior management in developing a business case so you will also provide support from theory on innovation and also explain to senior management the different types of innovation in the contemporary business world.
The business report will address the following:
Explain the context for innovation and determine the difference between invention and innovation (LO1). Explain the different types of innovation (LO2).
1. Explain the difference between invention and innovation and determine the importance of innovation in comparison to invention, to organisations such as Amazon Go.
2. Explain how organisational vision, leadership, culture and teamwork can develop innovation and commercialisation.
3. Explain the 4Ps of innovation and also analyse and apply the innovation funnel for Amazon Go.
4. Explain and critically evaluate the role of frugal innovation in the development of Amazon Go.
While writing your report, please consider P1, P2, P3, P4 M1, M2, M3 and D1 indicators given below.
P1 (LO1) Explain innovation and determine its importance to organisations in comparison with invention
P2 (LO1) Explain how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation.
M1 (LO1) Analyse different sources of innovation, and how organisations can foster and develop an environment and culture of innovation.
D1 (LO1, 2 & 3) Critically analyse how innovation is developed embedded and measured in an organisational context.
P3 (LO2) Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovation ideas
P4 (LO2) Explain developments in frugal innovation and provide examples of how it is used in an organisational context
M2 (LO2) Analyse and apply the innovation funnel in an organisational context
M3 (LO2) Evaluate the role of frugal innovation in an organisational context.
PowerPoint Presentation LO3 and LO4
Discuss the process required to commercialise innovation (LO3). Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages. (LO4)
You are a group of 4-5 business students and have just been assigned a task to introduce a new product or an idea to develop and commercialise and finally protect that knowledge and intellectual property formally. You will be required to present this product / service idea in a form of a group poster and PowerPoint presentation.
While doing above, please consider P5, P6, P7, M4, M5 and D2 indicators given below.
P5 (LO3) Explain the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialisation of innovation.
P6 (LO3) Build an Innovation Business Case for an organisation, including ways to access funding.
M4 (LO3) Build a detailed Innovation Business Case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve.
D2 (LO4) Critically evaluate the nature of innovation and the context in which it is developed, providing evidence-based judgements on how organisations can overcome challenges to develop successful innovations.
P7 (LO4) Evaluate the different tools that organisations can use to develop, retain and protect knowledge and intellectual property.
M5 (LO4) Present supported evidence-based evaluation of these different tools in the context of the wider business environment.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2021). Innovation And Commercialisation. Retrieved from https://myassignmenthelp.com/free-samples/nsab564b8-innovation-and-commercialisation/frugal-innovation.html.
"Innovation And Commercialisation." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/nsab564b8-innovation-and-commercialisation/frugal-innovation.html.
My Assignment Help (2021) Innovation And Commercialisation [Online]. Available from: https://myassignmenthelp.com/free-samples/nsab564b8-innovation-and-commercialisation/frugal-innovation.html
[Accessed 13 April 2021].
My Assignment Help. 'Innovation And Commercialisation' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/nsab564b8-innovation-and-commercialisation/frugal-innovation.html> accessed 13 April 2021.
My Assignment Help. Innovation And Commercialisation [Internet]. My Assignment Help. 2021 [cited 13 April 2021]. Available from: https://myassignmenthelp.com/free-samples/nsab564b8-innovation-and-commercialisation/frugal-innovation.html.
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please see comments given by tutor 1 You have not formulated an aim for this presentation and, therefore, not related it to the LOs 2 You have not identified a context to apply the theories, so you are not meeting the LOs. Although your title sta...
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