Innovation and Commercialization

Question :

This assessment will cover certain questions:

• Elaborate innovation and also determine invention and also innovation
• Explain various types of innovation in Pretty Dress Co. Ltd.  
• Explain commercializing innovation Pretty Dress Co. Ltd.  
• Elaborate the advantages and disadvantages in innovation.

Answer :

Organization Selected : 

INTRODUCTION

Innovation is defined as the process of generating and innovating ideas into concern that acts as a advantageous for a particular enterprise (Chand and et.al., 2018). Commercialisation is the process to introduce new products into existing market. Thus, in the following report, The Pretty Dress Co. Ltd. has been taken into consideration. It is a small scale business in United Kingdom. Nature of the chosen business is that they deal in different range of dresses that tailored for refined finish. Furthermore, it also provides source of income to the society to gain positive business results into generation.