Assignment Front Sheet
Qualification Unit number and title
Unit 8: Innovation and Commercialization
Pearson BTEC Levels 4 and 5 Higher Unit code:
Nationals in Business Unit Level: 5
Credit Values:
Student name Assessor name
Date issued Completion date Submitted on
Assignment title Innovation and Commercialization
Word Count
Assignment Front Sheet
Hand-in Policy
You must complete this assignment on time. If you experience difficulties, you must
inform your tutor accordingly.
Late Work Policy
Consideration will be given to students who have valid reasons for late submission (e.g.
illness)
Plagiarism
In case of plagiarism, college regulations will be applied. You must declare that this work
is your own by signing the following statement:
Learner declaration
I certify that the work submitted for this assignment is my own and research sources are fully
acknowledged.
Student signature: _______________________ Date: ___________________________
Table of Contents
P1. Explain the different context of innovation and differentiate between invention and innovation.......3
P2. Explain how organization vision and leadership and culture shape the innovation and
commercialization.......................................................................................................................................4
P3. Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and shape
innovative ideas...........................................................................................................................................4
4 P’s of Innovation...................................................................................................................................4
P4. Explain developments in frugal innovation and provide examples of how it is used in an
organizational context.................................................................................................................................5
P5. Explain the importance of the commercial funnel and the application of New Product Development
(NPD) processing for commercialization of innovation...............................................................................5
P6. Build an Innovation Business Case for an organization, including ways to access funding....................6
P7. Evaluate the different tools that organizations can use to develop, retain and protect knowledge and
intellectual property....................................................................................................................................6
Bibliography................................................................................................................................................8
Unit 8 Innovation
P1. Explain the different context of innovation and differentiate between invention
and innovation
Definition of innovation
Example of business innovation
Types of business innovation
Definition of invention
Types of business invention
Difference between innovation and invention
P2. Explain how organization vision and leadership and culture shape the innovation
and commercialization
Explain the value and importance of innovation to organizations and how this can be
embedded within the organizational vision, leadership, teamwork and culture at
Essence Drinks
Vison
Leadership
Culture and teamwork
P3. Explain the 4Ps of innovation and explain the use of the innovation funnel to
examine and shape innovative ideas
Explain the 4Ps of innovation and how this supports capability and management of
innovation. Advise Essence Drinks which form of innovation they should engage in.
4 P’s of Innovation
Product
Price
Place
Promotion
P4. Explain developments in frugal innovation and provide examples of how it is used
in an organizational context.
Definition of Frugal Innovation
Discuss the approaches that Amazon Go can take to process innovative ideas, including
the innovation funnel and frugal innovation. Explain the steps Amazon Go should go
through to derive a new and innovative drink
P5. Explain the importance of the commercial funnel and the application of New
Product Development (NPD) processing for commercialization of innovation.
Commercialization
Importance of commercialization
How help commercial funnel in development of new product
Identify the solution to the problem using the commercial funnel to highlight strategic
capability meeting the following guidelines
Matching goals to funding resources and ways to access funding
Assessment of risk
Value analysis applying frugal innovation
P6. Build an Innovation Business Case for an organization, including ways to access
funding.
P7. Evaluate the different tools that organizations can use to develop, retain and
protect knowledge and intellectual property
Evaluate different tools Essence Drinks can use to develop, retain and protect the
knowledge and intellectual property rights of a new drink
Bibliography
There are no sources in the current document
