Dynamics of Innovation and Commercialization

Dynamics of Innovation and Commercialization

Innovation and commercialization
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Introduction
Innovation is the process of bringing in a new idea or thought into a service that will help to create and add value to the company for which the customers will readily pay. Invention is the process of is the idea of creating something new and something different that is not existent in the market before (Manzini et al, 2016). This report is going to discuss the distinction between invention and innovation and its significance. Further, it will discuss how the vision of the company,…