Innovation & Commercialization Assignment -

Assignment Title -

First Section - Production of a business report to present to the CEO of Delamere.

Second Section- A 10 minutes group innovation business case pitched to the CEO of Delamere towards assessing the individual contribution of the group work.

Learning Outcomes -

1. Explain the context for innovation and determine the difference between invention and innovation.

2. Explain the different types of innovation.

3. Discuss the process required to commercialize innovation.

4. Evaluate the range of methods for protecting ideas and understand their advantages and disadvantages.

ASSIGNMENT BRIEF AND GUIDANCE -

First Section - Scenario and activity: Case Study: Delamere Dairy Drinks

When the founder of Delamere Dairy, started the company few years ago he could not have foreseen the rapid early stage growth that took place. He launched the company and achieved a dramatic rise in sales in his first few years due to the innovative formula and distribution capability.

However, as the company enters its next phase of trading there has been a significant competitor in sales as a number of competitors have entered the market. Delamere thinks the answer is to create an innovative new range of drinks but does not want to move away from his theme.

You are working as a brand strategy innovation consultant for the company that Delamere Drinks has hired to evaluate the situation and present recommendations on how the company should move forward. This assignment is in two parts.

Part A: Working in small groups (3-4 per group) you are to produce a business report to present to the CEO of Delamere by providing background information about innovation and the processes of innovation development. This is the first part of your research and will support the development of a business pitch which you are to present to the CEO.

The business case report will address the following:

1. Explanation of the difference between invention and innovation.

2. The value and importance of innovation to organizations focusing o the vision, leadership, culture and team work and how this can be embedded within the organizational leadership and culture at various Dairy products.

3. 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.

4. 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.

5. Explain and recommend the next steps Delamere Drinks should go through to derive a new and innovative drink and ways to access funding.

Second Section - Scenario and activity: Case Study: Delamere Dairy Drinks

You are an innovation consultant that the company has hired to evaluate the situation and present recommendations on how the company should move forward. This is the second part of the assignment (see above part of the AB for details of part A).

Part B: In your groups prepare and present an innovation business case pitch for the type of product that Delamere Drinks can take to market. The pitch should be 10 minutes long and slides should cover the following:

Background to the company and the problem.

Explain the importance of using the commercial funnel to provide a solution to this problem highlight the strategic capability for the solution that your proposing:

• Matching goals to resources and capability.
• Assessment of risk.
• Value analysis applying frugal innovation.

A summary of the new idea for a new drinks product and how it would meet stakeholder needs.

Techniques for testing the effectiveness of the new drinks produce and where this will fit into the process.

Resources required for 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 property rights of a new drink.