Assignment on Innovation in Business

Innovation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Define innovation and determines importance of organisations............................................1
P2 A1 communications Ltd vision, leadership, culture and teamwork can shape the
innovation....................................................................................................................................2
TASK 2............................................................................................................................................4
P34Ps of innovation and the use of the innovation funnel for shaping ideas or thoughts in
employees....................................................................................................................................4
P4 Explaining the process of developing frugal innovation in A1 communication Ltd.............5
TASK 3............................................................................................................................................6
P5 Importance of commercial funnel and the application of New Product Development..........6
P6 Innovation building case for A1 communications including way of access fund.................7
TASK 4............................................................................................................................................8
P7 Different tools for developing, retaining and protecting intellectual property......................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
....................................................................................................................................10
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INTRODUCTION
Innovation refers to the new idea or thoughts or techniques. The general meaning of
innovation is to develop new things which is different from the current things. Innovation is the
development of new ideas which helps the society to grow at a higher level. It provides new
items or objects which helps to attract more customers. The innovation is dynamic activity which
helps to develop more effective products, services and new technologies. A1 communications is
a fastest growing communications enterprise which provides internet network services. It helps
to provides flexible package to their customers but also, they deliver cost saving facilities and
gives excellent customer services in the country (Lundvall, 2010). This enterprise analyses their
fixed line services, provides mobile broadband and also helps in vehicle tracking solutions. They
deal in mobile phones, tablet and provides SIM card to their customers. They provide fastest
mobile broadband and 4G network with 60MB speed per second. The purpose of this report is to
understand the innovation and its importance in this organisation. To analyse the vision, culture,
leadership and teamwork in innovation small medium-sized and also examine the shape of
innovative ideas. The enterprise can evaluate the different tools which develop, retain and
provides project knowledge.
TASK 1
P1 Define innovation and determines importance of organisations
Innovation is the process of change in large and small products and services that helps in
introducing new products in the organisation (Drucker, 2014). The enterprise provides new
innovative products to their customers and attract new potential customers. Innovation occurs
when organisation improves their existing products and makes new product.
The difference between Innovation and Invention are:
Basis Innovation Invention
Definition Innovation bring in new
products and services which
satisfy the customers’ needs
and wants.
Invention means creating
something that has not been
made yet by anyone.
Useful It brings modification in It helps in development or
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existing products/services to
inflate potential customers.
make completely new products
for the customers.
A1 Communication's Ltd is operating in telecom sector that has faced huge competition with
other big companies. There are many enterprises who entry in a large market to serve products or
services to their customers and invest large money to start a new business. The organisation also
faces threats in the productivity of the products which reduces their profit level. The reason is to
make innovative products in the company is to attract more customers. Apple Inc. is an digital
music player whose music system weights is just 6.5 ounces and that is small in size. This
company provides small MP3 players and sold iPods in 1.4 million to their customers (Teece,
2010). It helps to divides number of songs . In the month of July and August, the iPod claimed
the fastest growing MP3 player market leader both in terms of units and revenue share It is the
highest volume product of Apple's company.
There are some benefits of innovation to A1 communications and its employees:
For organisation
 It increases profit margins
 It improves customers satisfaction and fulfil their demands
 They established good image between the customers which is helpful to the company
For employees
 They gain new skills and knowledge which helps in career development
 It boosts employees complex thinking process and problem solving skills
 Improvement in effectiveness and efficiency of the staff
These are some benefits of innovation that is provided by the management and company.
A1 communications Ltd wants to ensure that every function of the organisation and employees
are connected with their core values to became innovative and creative to gain goals and
competitive advantages.
P2 A1 communications Ltd vision, leadership, culture and teamwork can shape the innovation
Innovation needs to be cohesive into the current business process for improvement in
results. An organisation needs to use it as a tool that helps in achieving all target goals such as
short term as well as long term goal (Edquist, 2010). Managers and team leaders will be guide
their employees which helps to solve their innovative related queries and problems. There is a
large need of combining expertise and skills of employees and push them to do work in effective
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