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    MS&E277 | Difference between Invention and Innovation | ASDA

    Brief :

    Scenario

    Sainsbury wants to introduce new products into its existing market due to increasing demand. Innovation manager has examined the growth and potential profitability and convince organisation to introduce new products. The company competitors are engaged in introducing new products in the industry as UK market is becoming competitive.

    You re employees as innovation consultant and analyse the situation to provide suggestions on company should move forward and develop products. Report will include the following:

    • Discussion on the difference between invention and innovation.
    • The importance of innovation in organisations and ways through which this can be embedded within the organisational leadership and culture.
    • Discuss different kinds of innovations and four directions of change an organisation took place. Discuss the 4ps of innovation and its capability and management of innovations. Make recommendation top innovation manger on which innovation should be adopted.
    • Determine the approaches that the Innovation Manager can take to process innovative ideas, including the innovation funnel and frugal innovation.
    • What are the steps the Innovation Manager should go through to derive a new and innovative product?

    The following should be carried

    LO1 Discuss the role of innovation and what are the difference between invention and innovation.

    For Sainsbury, discuss the importance of innovations in organisation, determine how vision, leadership, culture and teamwork shape innovation and commercialisation of Sainsbury.

    Discuss different sources of innovation and determine how the organisation can foster and develop an environment and culture of innovation. You should also critically evaluate how innovation is developed, embedded and measured in Sainsbury.

    LO2 Discuss the different types of innovation.

    Discuss 4Ps of innovation and determine the use of the innovation funnel to examine and to shape innovative ideas. You should also analyse the innovation funnel and apply this concept in Sainsbury.

    To determine your understanding of innovation, discuss developments in frugal innovation and give examples of in an organisational context. You should also analyse the role of frugal innovation in your chosen organisation.  

    Evaluate how innovation is developed, embedded and measured in your chosen organisation.

    LO3 Determine the process required to commercialise innovation.

    To determine your understanding of the innovation, explain the importance of the commercial funnel and the application of new product development (NPD) processing for commercialisation of innovation.

    Propose an innovation business case for Sainsbury and ways of funding.

    LO4 Discuss the range of methods for protecting ideas and understand their advantages and disadvantages.

    Determine the different tools that it can use to develop, retain and protect knowledge and intellectual property, you are required to critically analyse the nature of innovation and the context in which it is developed, providing evidence-based judgements on how your organisation can overcome challenges to develop successful innovations.

    Grading criteria

     

    Learning Outcome

    Pass

    Merit

    Distinction

    LO1 Discuss the role of innovation and what are the difference between invention and innovation.

    P1 Discuss innovation and determine its importance to organisations in comparison with invention.

    P2 Determine how organisational vision, leadership, culture and teamwork can shape innovation and commercialisation.

    M1Evaluate different sources of innovation, and how organisations can foster and develop an environment and culture of innovation.

    D1: Evaluate how innovation is developed, embedded and measured in an organisational context.

    LO2 Discuss the different types of innovation

    P3 What are the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas.

    P4 Discuss developments in frugal innovation and provide examples of how it is used in an organisational context.

    M2 Evaluate and apply the innovation funnel in a Sainsbury

    M3 Analyse the role of frugal innovation in Sainsbury.

    LO3 Determine the process required to commercialise innovation.

    P5 What are the importance of the commercial funnel and the application of new product development (NPD) processing for commercialisation of innovation.

    P6 Prepare an innovation business case for an organisation, including ways to access funding.

    M4 Prepare a detailed innovation business case which includes how to measure its overall effectiveness using appropriate techniques available to test, iterate and improve.

    D2Discuss and explain 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.

    LO4 Discuss the range of methods for protecting ideas and understand their advantages and disadvantages.

    P7 Explain the different tools that organisations can use to develop, retain and protect knowledge and intellectual property.

    M5With supported evidence-based evaluation of these different tools in the context of the wider business environment. entrepreneurs

     

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