Unit 8 Innovation and Commercialisation (D/618/5042) Assignment Brief 2026

Unit 8 Innovation and Commercialisation Assignment Brief

Aim

This unit aims to give students a comprehensive understanding of innovation and commercialisation. In today’s competitive landscape it is critical that organisations continually innovate both their product offering and processes to ensure that they remain competitive in the market. Adopting a more commercially driven approach is vital to maximise the Return on Investment (ROI).

In this unit, students will look at a number of tools and techniques that organisations use to drive innovation and become more commercial in their approach. The unit gives students cutting-edge knowledge as well as practical application of the key ways in which organisations become more innovative while remaining commercially driven. By the end of the unit, students will have gained an understanding of how innovation is fostered, harnessed and managed in organisations. They will learn the value of innovation and its importance to supporting commercial growth. They will also acquire knowledge that will enable them to develop a creative and innovative approach that will benefit them throughout their career.

Learning Outcomes

By the end of this unit a student will be able to:

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.

Essential Content

LO1 Investigate how innovation is sourced and supported within different types  of organisations 

Innovation vs invention:

Definition of innovation and commercialisation, taking into consideration the challenges this creates for small businesses.

Definition of invention and how invention is created.

Turning invention into innovation and sources of innovation.

Supporting innovation in organisations:

Creating a structure and culture of innovation.

Developing innovation vision and leadership, entrepreneurial teams and  innovation networks.

Fostering innovation in different organisations, including SMEs, large and multinational organisations.

LO2 Explore the processing of different types of innovation within organisations

Different types of innovation:

Different types of innovation, to include disruptive and incremental innovation, product innovation, process and platform innovation.

Open and closed approaches to innovation.

Market pull vs technology push.

Advantages and disadvantages of different types of innovation.

Processing different types of innovation:

Diffusion theory.

The use of the innovation funnel to manage new solutions and idea development.

The 4Ps and innovation space strategy: product, process, position and paradigm. Frugal innovation in response to necessity vs market driven innovation.

LO3 Apply the process required to commercialise innovation within an organisation  

Accessing funding and resources:

The reasons why an organisation would want to access funding, e.g. product development, marketing, and the different types of funding sources available.

Resource requirements for a small business to commercialise their offering, e.g. office space, equipment, digital connectivity, virtual presence.

Business case for innovation:

The elements of an innovation business case, including:

• the executive summary
• statement of the problem and the need
• discussion of possible options
• recommended idea and why it is innovative
• market analysis
• details of chosen option and need for development
• expected benefits, e.g. financial, social, environmental
• value and financial return on investment
• investment requirements to move forward and next steps. Assessment of the business requirements for innovation.

Detailed business case for innovation: 

Evidence-based research to determine full market potential, operational and technical feasibility, potential time and costs of development of a new product/service, as well as technical, regulatory and legal risks.

Budget requirements for design and development, project management and marketing.

Techniques for in-market testing and iteration routes to market and market launch.

The impact of advanced technology and information management on research, testing and developments methods.

Big Data and cognitive systems to predict behaviours and future trends.

Social media and constructing digital platforms for promotion and distribution.

LO4 Evaluate the range of methods for protecting innovation within organisations

Intellectual property (IP): 

The definition of IP.

Exploiting knowledge and intellectual property rights.

Key IP tools, including copyrights, trademarks, design rights and patents.

The role of branding in protecting the innovation.

Limitations of IP in an international context.

Growth of open source and open innovation platforms on IP.

Learning Outcomes and Assessment Criteria

Recommended Resources

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.

Links

This unit links to the following related units:

Unit 27: Identifying Entrepreneurial Opportunities

Unit 28: Launching a New Venture 

Unit 52: Product and Service Development

Unit 53: Planning for Growth

Answer

Request Answer of this Assignment