Innovation and Leadership in Apple Inc.

APPLE INC.

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explanation of definition and difference between innovation and invention.........................1
Identification and analysis of sources of innovation..............................................................2
Critical Discussion of link between innovation and leadership of Apple..............................3
Explanation of 4Ps of innovation...........................................................................................4
Appraisal of value of innovation funnel and frugal innovation.............................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Innovation refers to the processes, procedures and techniques which are used by an
organisation which refers to adding appropriate and effective features within the existing
offerings of an organisation to enhance their importance and usefulness within the marketplace
(Leyden and Link, 2015). In this relation, the report below is based on Apple Inc., which is one
of the most renowned technology organisations in the world. The assignment hence covers
appropriate explanations of differentiation between innovation and invention, along with
identification of several sources of innovation. Moreover, the assignment also covers critical
discussion between innovation and leadership within Apple and explanation of 4P’s of
innovation. Lastly, the report undertakes appraisal of value of innovation funnel and frugal
innovation.
MAIN BODY
Explanation of definition and difference between innovation and invention
Innovation is an activity which is related to adding specific and more technologically
advanced features which increasing the importance of existing offerings of a company within the
marketplace. For instance, Apple renewing its models of iPhones by adding new features is a
prominent example of innovation.
Invention, on the other hand, is the procedure of development of a completely unique
product to introduce within the marketplace which fulfils the market gap of demand and supply.
In context of Apple Inc, creation of iPods was a prominent invention in the technological and
musical industry (Costantini and et. al., 2015).
Both these aspects are highly essential in relation to ensuring development of new products
and improvements of the existing ones, which is prominent for the sustainability and growth of
the organisation. However, there are substantial differences between both these processes that are
required to be explained in relation to identify the scope and importance of both these functions.
Hence, in this relation, below is the difference between Innovation and Invention:
BASIS INNOVATION INVENTION
CONCEPT Innovation is the additions of
useful and necessary features
or product extensions that
This relates with development
of unique offerings that have
never been created before. The
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