Innovation and Commercialisation: Innovation Case Study

AIM OF ASSIGNMENT:
This unit aims to equip students with 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. Furthermore, adopting a more
commercially driven approach is vital to maximise the Return on Investment (ROI).
In this unit, we will look at a number of tools and techniques organisations use to drive innovation and become
more commercial in their approach. The aim of the unit is to give students cutting-edge knowledge as well as
practical application of the key ways organisations become more innovative while remaining commercially
driven.
UNIT LEARNING OUTCOME:
LO1 Explain the context for innovation and determine the difference between invention and innovation.
LO2 Explain the different types of innovation.

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

ASSIGNMENT BRIEF AND GUIDANCE
Scenario and Activity
DBS (the Development Bank of Singapore) is one of the key leaders in digital banking innovation specifically in
Asia and across the world. The company operates across 18 markets and it is an Asia-centric commercial bank
focused on harnessing the region’s long-term potential as the centre of economic gravity shifts eastwards to
Asia.
You are an Innovation Consultant in the company, and you are required to evaluate and provide
recommendations to the CEO on how the company should move forward.
You are required to produce a business report by providing background information about innovation and the
processes of innovation development within the company. The business report should address the following:
1. Explain the difference between invention and innovation and determine the importance of innovation
to organisations in comparison with invention.
2. Explain how DBS’s vision, leadership, culture and teamwork can shape innovation and
commercialisation within the company.
3. Analyse different sources of innovation in DBS and how the company can foster and develop an
environment and culture of innovation.
4. Using the 4Ps of innovation, explain the use of the innovation funnel to examine and shape innovative
ideas in DBS.
5. Analyse and apply the innovation funnel in DBS.
6. Explain the developments of frugal innovation and provide examples of how it can be used in DBS.
7. Evaluate the role of frugal innovation and relate to DBS.
8. Critically analyse how innovation is developed, embedded and measured in DBS.
*Please access HN Global for additional resources support and reading for this unit. For further guidance and
support on report writing and presentation please refer to the Study Skills Unit on HN Global. Link to
http://www.highernationals.com