Business Level 4 – Innovation and Commercialisation
Pearson/Edexcel BTEC Level 4 – Innovation and Commercialisation
|Tecol Unit Code:||L4B-B08|
|Award:||Level 4 Unit|
|Study + Assessment Time:||60 + 90 Hours|
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.
By the end of this unit a student will be able to:
LO1 Investigate how innovation is sourced and supported within different types
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.