Unit 8 - Innovation and Commercialisation

Assignment Brief

Student Name/ID
Number

Unit Number and Title Unit 8 Innovation and Commercialisation – Level 4

Academic Year 2022

Unit Tutor
Internal Verifier

Assignment Title Innovation Business Case

Issue Date

Submission Date

Submission Format
Activity 1 – Report

This is an individual report where you prepare a business case for a named organisation.

It 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 2,000–2,500 words, although you will not be penalised for
exceeding the total word limit.

Activity 2- Presentation

The submission is in the form of a 10-minute innovation business pitch. The presentation
should be pre-recorded and the presentation slides and speaker notes should be
submitted.

You are required to make effective use of PowerPoint headings, paragraphs and
subsections as appropriate.

Your research should be referenced using the Harvard referencing system. Please also
provide a bibliography using the Harvard referencing system.

The recommended word limit is 1,000–1,500 words, including speaker notes, although
you will not be penalised for exceeding the total word limit.
Unit Learning Outcomes
LO1 Investigate how innovation is sourced and supported within different types of
organisations.
LO2 Explore the processing of different types of innovation within organisations.
LO3 Apply the process required to commercialise innovation within an organisation
LO4 Evaluate the range of methods for protecting innovation within organisations.

Transferable skills and competencies developed

 Decision making
 Effective Communication
 Digital Literacy
 Creativity
 Plan-prioritise
 Self-Management
 Independent Learning
 Self-reflection
 Cultural Awareness

Vocational scenario

In 18/19 Akshay Kumar, the founder of Health First Drinks, started his health based
drinks company.

He launched the company with one drink (a healthy mango lassi) into the UK market
capitalising on increased market trends and the growing demand for healthy living
and lifestyles. During his first year he achieved a dramatic rise in sales due to the
drinks great taste, innovative formula and health benefits and captured the attention
of the press.

Since its launch however, the company has experienced increased competition
which has resulted in a decline in sales as new companies have entered the market
offering other healthy alternatives. Akshay thinks the answer is to create an
innovative new range of drinks/healthy drink alternatives.

Role

In your role as Innovation Consultant, you have been asked by that Health First
Drinks to provide an evaluation of the situation. The company has asked to formulate
process required to commercialise innovation for their organisation. The organisation
has asked you to develop a business case report and present the recommendations
and learnings from the developed report. The organisation has also asked to develop
present an innovation business pitch for the type of additional innovative product(s)
that Health First Drinks.
 ACTIVITY 1 - (LO1 TO LO2) – GUIDANCE
You have been asked to produce a business case report to provide information
about various different sourcing options that can be availed and creating a
culture that will support innovation. As a consultant you are may explore the
value and importance of innovation for the organisation. Moreover, evaluate
various options of strategies and directions the organisation can utilise to create
a conducive environment and culture for innovation. As part of the consultancy
you may discuss the approaches that Health First Drinks can take to process
innovative ideas, including the innovation funnel and frugal innovation, providing
examples of different approaches used by other organisations. In addition to this
you present different types and approaches of innovation.

Lastly, it is crucial to explain recommendations for the future steps at Health First
Drinks (as a small business) should take to source innovation within and outside
their organisation.

ACTIVITY 2 - (LO3 AND LO4) – GUIDANCE

You are to prepare and present an innovation business pitch for the type of
additional innovative product(s) that Health First Drinks can take to the market.
The pitch should be 10 minutes long. As a consultant may consider highlighting
the problem statement, resource requirements for Health First Drinks to
commercialise their offering. As a consultant the business has asked you to
highlight strategic capability for the solution that you are proposing:

a) Matching goals to resources and capability.

b) Conduct an Assessment of risk.

c) Undertake a Value Analysis

Evidence checklist (summary of evidence required by student)

ACTIVITY 1 ACTIVITY 2
Report (2000 - 2500 words) 10-15 minutes presentation and speaker
notes

Recommended Resources
Please note that the resources listed are examples for you to use as a starting point
in your research – the list is not definitive.

Textbooks

BESSANT, J. and TIDD, J. (2016) Innovation and Entrepreneurship. 3rd Ed. Oxford: Wiley.
MATTHEWS, C. and BRUEGGEMANN, R. (2015) Innovation and Entrepreneurship: A
Competency Framework. London: Routledge.
TROTT, P. (2017) Innovation Management and New Product Development. 6th Ed. Harlow:
Pearson.
VALIKANGAS, L. and GIBBERT, M. (2015) Strategic Innovation: The Definitive Guide to
Outlier Strategies. London: Pearson FT Press.
Websites

www.biginnovationcentre.com
www.innovationmanagment.se
www.thenextweb.com
www.trendhunter.com

Learning outcome and assessment criteria

Pass Merit Distinction
LO1 Investigate how innovation is sourced and supported
within different types of organisations
P1 Discuss the ways in M1 Analyse the ways in
which different organisations which innovation is sourced
source and foster and supported within
LO1 and LO2
innovation, using specific different organisation
D1 Critically analyse how
examples. environments and cultures.
innovation is successfully
LO2 Explore the processing of different types of innovation
developed and embedded in
within organisations
different organisational
M2 Analyse how different
P2 Differentiate between contexts.
types of innovation are
different types of innovation
successfully processed
and how they are processed
within different organisation
within organisations.
settings.
LO3 Apply the process required to commercialise
innovation within an organisation
M3 Produce an evidence-
P3 Produce a detailed
based business case
business case for innovation
analysis for innovation that LO3 and LO4
for an organisation,
emphasises the business D2 Produce a commercially
including risks, benefits and
value for potential driven business case for
ways to access funding.
investment. innovation, including an
LO4 Evaluate the range of methods for protecting action plan for development
innovation within organisations. and methods for its
M4 Critically evaluate the successful protection in the
P4 Evaluate the different different tools that context of the wider
tools that organisations can organisations can use to business environment.
use to develop, retain and develop, retain and protect
protect knowledge and knowledge and intellectual
intellectual property. property in the context of the
wider business environment.