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You are required to submit the following: Unit 8 Innovation and Commercialisation
Business Report- This should be written in a concise, formal business style using single spacing and font size 12. You are required to make use of headings, paragraphs, subsections, and illustrations as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. The recommended word limit is 2000-2500 words, although you will not be penalised for exceeding the total word limit. Please use the following main headings to structure your report.
® Explanation of the difference between invention and innovation.
® The value and importance of innovation to organizations focusing on the vision, leadership, culture, and teamwork[SR3] and how this can be embedded within the organizational leadership and culture at various Dairy products.
® Critically analyse the different forms of innovation and the four directions of change an organization can take. Explain the 4Ps of innovation and how this supports capability and management of innovation. Advise Delamere Drinks which form of innovation they should engage in.
® Discuss the approaches that Delamere Drinks can take to process innovative ideas, including the innovation of lactose resistant innovation, providing examples of different approaches used by other organisations.
® Explain and recommend the next steps Delamere Drinks should go through to derive a new and innovative drink and ways to access funding.
® Appraise the development of frugal innovation in response to necessity vs market driven innovation.
- Conclusion and Recommendation[SR4]
® Your recommendation should be an overall assessment of the advantages and disadvantages of innovation[SR5] where you have Critically analysed how innovation is developed, embedded, and measured[SR6] in an organizational context.
® Based on your critical analysis, you should now give your professional advice to the management team.
® In your recommendation you must give a critical analysis to Delamere Dairy on the nature of innovation and the context in which it is developed. You must use evidence[SR7] -based judgments on how Delamere Dairy can overcome these challenges.
Written Pitch and PowerPoint Slides. Unit 8 Innovation and Commercialisation
- Pitch- Your pitch should be written out on a word document so that you can submit this with your report, this needs to be a working document so your thoughts and ideas of how you will carry about the pitch.
® Your pitch is a detailed Innovation Business Case which includes how to
measure the overall effectiveness of Delamere Dairy and[SR8] the appropriate techniques available to test, iterate and improve.
- PowerPoint- Your PowerPoint is the Pitch presentation to the management team. When doing the PowerPoint keep in mind and focus the main changes that will benefit Delamere Dairy Drinks.
® Background to the company and the problem.
® Analyse and apply the importance of using the commercial/innovation funnel[SR9] to provide a solution to this problem highlight the strategic capability for the solution that your proposing:
® Matching goals to resources and capability. Unit 8 Innovation and Commercialisation
® Assessment of risk[SR10] .
® Appraise value analysis applying frugal innovation.[SR11]
® Explain to management by summarizing the importance of a commercial funnel and application of your new idea for a new drinks product and how it would meet stakeholder needs.
® Techniques for testing the effectiveness[SR12] of the new drinks produced and where this will fit into the process.
® Resources required for[SR13] proceeding with the innovation business case e.g., funding for market research, desk-based research, product development.
® Evaluate the different tools Delamere Drinks could use to protect the intellectual[SR14] property rights of a new drink.
® You will now need to consider the wider business environment[SR15] and present an evidence-based evaluation of what tools Delamere can use.
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