Introduction and Background
The business that is being built is based on the idea of an Indian frugal innovator who modified his motorcycle to make it use as ploughing machine, while without the attachment the device can be used for the usual transport purpose. This is an essential development that helps in the protection of the natural resources by saving fuel as the other machines consume much more fuel for the same task and costs much more at less value as they cannot be used for the transportation purpose. As the company CEO of the hypothetical company the powerplougher, an SME specialising cheap agricultural equipment in a developing country, this report is based on the innovation process and its commercialization that uses various theories and concept for possible use in the scenario.
P1 Explain innovation and determine its importance to organisations in comparison with the invention.
The innovation by its nature is explained in various ways that have been very diverse and different from invention. Although the terms might seem interchangeable they are not so as the invention is centred onthe creation of the new while the innovations are creating value from something that is existing. Therefore, while innovation is based on the unique developments while the innovation is a value centred process that finds new ways of the use of the invention and develops something of greater value (Gokhberg, and Meissner, 2013). Therefore, the process of invention and innovation are, by their nature as different as possible and the interrelation between them can be established as a cause-effect relationship. While the invention is surely the source of any innovation they are mostly based on scholarly pursuits and not inherently commercial innature. However, the innovation, on the other hand, is directly commercial as the process itself is based on the creation of more value from some existing invention. Thus, one invention can spark manyinnovations that find different modifications of the invention to use it in different ways that increase the value of the invention(Carayannis and Campbell, 2006).Thus, the product creation process for a specific customer need can be used as a motivation behind the innovation of a certain product based on the newest inventions that help meetthose needs while establishing the precedence for the specific use of something new for a specific benefit.
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For this purpose, the innovation is part of the scholarly approaches while the innovation is a strictlyvalue-based process. The changes in the development of the specific invention to make suitable for use in a specific context to meet an identified need of the customer, therefore, is part of the innovation process.This is different from invention, as the product creation process is not interested in the novelty of some new and unique development but the potential use of the same development in new ways to create value. The basic difference, however, is based on the market landscape the change the possible innovation can bring to the user without disrupting the market too much. While the value and improvement over the existing market structure is the objective of innovation this not without its bounds as the radical changes that are the basis of the invention are not applicable in the market. The compatibility with the existing market landscape is a requirement for the acceptance of the customer, which limits the innovation process in some ways(Klineand Rosenberg, 2010). Thus the innovation is the process that helps the development of new products that meet the customer needs more efficiently while the invention is the source of the technology that can be used for the innovation. The business processes concerned with innovation and the source of innovation are the scholarly pursuits that provide inventions that can be used to develop products as the source of innovations (Ram, 2010). Therefore, while the invention is the source of the new technology the modifications that make the new technology usable in the products that create customer value by providing an in the improvement of the existing solution are innovation.
P2 Explain how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation
While the use of new technology to develop a product that meets the demands of the consumer is the main objective for innovation this is not always possible and the various constraints of the market and organizational structure limit the scope of the innovation and its market application to some degree. Thus, the organizations have specific aspects that promote innovation more than the other organizations that make them more receptive to innovative products development. The commercialisation of the innovation is based on the limitations that are imposed on the organizations by the inventions limitations technology requirements and the organizational structure itself (Sarros, Cooper and Santora, 2011). Thus, the various organizations have different vision and mission that help promote innovation than the other companies.
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