Reference no: EM133160990

Unit 8 Innovation and Commercialisation - Pearson BTEC Levels 4 and 5 Higher Nationals in Business

Unit Number - M/508/0494

Assignment - Delamere Dairy Drinks

You are required to submit the following:

For this assignment you will need to submit three documents:

1. The Business reports

2. The Presentation

3. The Pitch written on a word document

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

Learning Outcome 2: Explain the different types of innovation.

Learning Outcome 3: Discuss the process required to commercialize innovation.

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

Transferable skills and competencies developed
• Business report writing
• Presentation
• Writing a business pitch
• Team Working
• Innovation business knowledge

DELAMERE DIARY - Just need frugal innovation, examples in Delamere diary organizations, how it s linked within business

Vocational scenario

Case Study:

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 several 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 trainee with 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.

Assignment activity :

- Business Report- This 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 1000-1500 words, although you will not be penalised for exceeding the total word limit. Please use the following main headings to structure your report.
• Introduction-
• Explanation of the difference between invention and innovation.
• The value and importance of innovation to organizations focusing on the vision, leadership, culture, and teamwork and how this can be embedded within the organizational leadership and culture at various Dairy products.
• Analysis
• Critically analyse 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.
• 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.
• Explain and recommend the next steps Delamere Drinks should go through to derive a new and innovative drink and ways to access funding.
• Appraise the development of frugal innovation in response to necessity vs market driven innovation.
• Conclusion and Recommendation
• Your recommendation should be an overall assessment of the advantages and disadvantages of innovation where you have Critically analysed how innovation is developed, embedded, and measured in an organizational context.
• Based on your critical analysis, you should now give your professional advice to
the management team.

• In your recommendation you must give a critical analysis to Delamere Dairy on the nature of innovation and the context in which it is developed. You must use evidence-based judgments on how Delamere Dairy can overcome these challenges.
- Written Pitch and PowerPoint Slides.
• Pitch- Your pitch should be written out on a word document so that you can submit this with your report, this needs to be a working document so your thoughts and ideas of how you will carry about the pitch.
• Your pitch is a detailed Innovation Business Case which includes how to measure the overall effectiveness of Delamere Dairy and the appropriate techniques available to test, iterate and improve.
• PowerPoint- Your PowerPoint is the Pitch presentation to the management team. When doing the PowerPoint keep in mind and focus the main changes that will benefit Delamere Dairy Drinks.
• Background to the company and the problem.
• Analyse and apply the importance of using the commercial/innovation 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.
• Appraise value analysis applying frugal innovation.
• Explain to management by summarizing the importance of a commercial funnel and application of your new idea for a new drinks product and how it would meet stakeholder needs.
• Techniques for testing the effectiveness of the new drinks produced 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.
• You will now need to consider the wider business environment and present an evidence-based evaluation of what tools Delamere can use.
Please make sure you sign the cover declaration and you have added all the relevant information.