Innovation Strategies and Management Techniques

The provided document is a collection of various academic sources related to innovation strategies and management techniques. It includes articles from journals such as Strategic Management Journal, Development Outreach, and Research Policy, among others. The sources discuss topics like open innovation, business models, and the financing of R&D and innovation. Additionally, there are references to books on making innovation work and a review of innovation research in tourism. The document seems to be a compilation of relevant resources for students or researchers studying innovation management.

Innovation

Table of Contents
INTRODUCTION....................................................................................................................... 1
P1 Define innovation and compare it with organisation in respect of invention..................1
P2 Organisational vision, leadership, culture forming innovation and commercialisation. .2
TASK 2 ...................................................................................................................................... 3
P3 4Ps of innovation and utilization of innovation to evaluate and form innovative opinions..3
P4 Development in frugal innovation ................................................................................. 5
TASK 3....................................................................................................................................... 6
P5 Value of commercial funnel and implication of New Product Development (NPD).......6
P6 Create an Innovation Business case consisting funding in way to access........................8
TASK 4....................................................................................................................................... 9
P7 Analyse various ways which company can use to develop, retain and protect................9
CONCLUSION ......................................................................................................................... 10
REFERENCES.......................................................................................................................... 11

INTRODUCTION
Innovation can be defined as “new ideas, concept, technology or method” to work on an
existing plan or creating a new plan. Where, innovation use in understanding better solutions and
achieving industry requirements and new needs. Innovation refer to an innovative idea that
suddenly breaks in market and carry a drastic change in the existing products, structure and
strategies. An organisation need innovation to understand market need and satisfy consumer
requirement (Adner and Kapoor, 2010). Thus, innovation in respect of business means vary in
exciting products, services and development in new commodity and solution of issues and
problems of consumers. 4Com is UK based telecom company that provide wide variety of
services. 4Com has emerged after 2004 and it have more than 250 employees working their
company as their employee. This report will study importance of innovation and invention, 4P's
of innovation as well as different aspect of innovation through a innovation plan.
P1 Define innovation and compare it with organisation in respect of invention.
Innovation-
Innovation mean initiation of fresh opinion, concept, service and technology. Innovation
can refer as implementation of new idea over the exciting product in respect of improvement of
existing product, service or idea. In an enterprise, those new strategies, concept and methods can
be called as innovation that carry a positive change in framework of organisation and build
value of company within industry. Innovation change company in more effective, creative, and
much demonstrated through engineering process.
Value of Innovation -
Innovation plays a significant part in building organisation goodwills and build
customers and hold them with organisation. Innovation not only benefit the organisation to
perform better but also boost and increase their employee work and confidence. Innovation
shape and reform organisation goals and vision and help in emerging 4com in growing in
market. 4Com believe and adopt techniques of Apple and Virgin Group understanding value and
advance technologies that helped 4com in intrigue consumers.
Innovation provide a good concept in production activities of product. An invention is
necessary to establish unique brand image and reputation in market but innovation provide
sustainability in development and growth to company in industry and public. When after a span
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of time people get bored of existing product, it provide new and fresh content to them to stick
with the company. Innovation also manage crisis within an 4com by creating and making
significant change in that product, idea or services.
Strategic importance of innovations
Innovation and change is nearly related to each other. However, both are different from
each other in some way, they are dynamic according situation, market condition and external
factors. In case, a company do not innovate their product, services and technology, company can
get into a big trouble and crisis or fall in industry (Brown, 2010). It help in diffusion of idea,
service and method that have been innovated to different management department, and elements
such as employees, customers. Also innovation cater change in administrative strategies,
management and function structures of organisation. Initially an idea is being invented in market
and in next stage the development of that concept is done. After these process, innovation
process starts in organisation until new idea is being invented.
Difference between Innovation and Invention:
InventionInnovation Invention of fresh concept, technology, mean, commodity, process, idea,
plans and strategies.Development or enhance in current goods, technologies, ideas, services,
thought and plans.e.g. iPod launch by Apple company.e.g. - development and launch of iPhone
in sequencing them by series that have been proven as effective strategyNeed Analysis, ability,
research, and market funds or capital.Need market requirements, demands, information about
market trends and environment and information of technologies.Bring technological changes,
social change Development amendment in current system according market needs. Present new
aspect and experience. Advancement and modification in system and structure.
P2 Organisational vision, leadership, culture forming innovation and commercialisation
Vision refer to goals and aims which specifies basic ethics and objectives of a company
which are determined to clear company view and provide a way to follow to meet success and
desired results. 4Com goal to develop communication technology and information service in
United Kingdom's SME market deploy its business in all around Europe. 4Com is developing
communication organisation that employ potential worker to increase goals, pride and
achievement in business and solve technical problems of public.
Leadership is a process in which few leader assist and direct company and fix objectives
and communicate in market and public, process decision making activities, technologies and
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culture of organisation. Commercialization and innovation are shaped by innovation. Leaders
defines all strategies and take entire decision-making process under their process. This help in
achieving goal and objectives of company. 4Com was declared for National Business award in
best leadership telecom department. 4Com is motivated by Apple and Virgin Group and their
leadership techniques which concentrate over customers satisfaction attaining and organisation
goals._1502541821
Culture affect decision making, business management, Framework, distribution and
production management. Organisation culture refer to company goals, systems, values, clues,
languages, perceptions, habits and believes. Organisation services shaped with culture and
company needs. 4com lead organisation cultures, goals and facilitates services in regard of
enterprise. Group work is collective practices that inspire employee and stimulate. Thus these
activities affect commercialization and innovation in which those change occur according these
factors.
Innovation are entire those changes that are being occurred in existing processes, and
concept in order to hole consumer attraction and gain potential buyers. In respect of innovation
and commercialization mission, culture, teamwork and leadership skills impact innovation
strategies and commercialization techniques. For an example Apple initiated a new product in
market. In respect of commercialize its products and services, Apple prefer organisation culture
understanding different market environment according country culture and employee
potentiality. But innovation of Apple occur according their own culture, vision and decision of
their leaders. Thus these techniques vary according many company factors. 4Com make
available better communication technology and services in UK market (Crossan and Apaydin,
2010). Like Stress Month approach of 4com that provide entrepreneur to share their problems
and solutions.
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TASK 2
P3 4Ps of innovation and utilization of innovation to evaluate and form innovative opinions
Innovation is very essential weather it is in business or in society. Despite subjectivity in
identifying innovation,There re some significant work in order to recognise business evaluation
strategies. But the changes that innovation cater and develop is very interesting and drastic
which vary whole system and its work. 4P's of innovation explains transformation brought by
creative strategies and change.
Paradigm Innovation -
Paradigm innovation refers to determining process of theories and models adoption in
respect of adoption in organisation. This analyse the models and structure that are formed to
apply in organisation (Dahlander and Gann, 2010). This P of innovation define and redefine
dominant paradigm of department of a company or business sector. Paradigm innovation are
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Source 1: P's of Innovation, 2017

related to metal theories that creates company's motives, objectives and structure and frame
function and their functioning.
e.g. - Low cost airlines shift offering, online provision of Insurance and financial policies
and other services and re functioning plan and packages of communication programme and
relaunching them according the situation.
Product innovation -
Product innovation focuses on product and product related concept and services within
an organisation. This is formed to develop and improve product quality and to provide high
quality services to consumers (Davila, 2012). Each sectors of business and organisation requires
this approaches of innovation in order to improve and develop existing product and bring new
product. This approach is meant to achieve organisational goals through product sale and sales
goals that are set by managers and leader which build organisation reputation among various
communication markets. Foe example, 4Com providing 5G facilitates to its consumer that just
have introduced in market in order to attain fastest network goals proving company.
Position Innovation -
This approaches is an mind practice that determines organisation perspective and
repositioning their perception and perspective towards services and goods in a special context.
Position innovation d3efines perspective of consumers and public toward product, goods and
services and defines vary in product innovation. It also set organisation goals by studying people
feedback and bring innovation according their needs. Position innovation have its own existence,
its not kind of marketing mix. This is solicited toward consumer mentality and perspective and
work on changing that into good(Edquist, 2010).
Process innovation -
This innovation concentrates on techniques and delivery process of services and goods to
consumers. It increase product efficiency by providing product in mannered and significant way
which attract consumers. Process innovation consist of creative changes that increase quality of
product and services and functions of organisation. Example of process innovation is ease in
delivery services of 4com through hiring services by online application.
P4 Development in frugal innovation
The frugal innovation is a process of reducing complication and high rates of process,
and goods. Frugal innovation facilitates in designing and developing new products and
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innovative products and services by reconfiguring value of chain. 4Com business improve and
develop mobile phone and network technologies by structuring and redesigning Apple and virgin
group products and produce new cheaper and value added product through using frugal
innovation. Frugal innovation make production and distribution process and management easier
and cheaper thus organisation can earn more profit out of whole expenses.
Frugal innovation minimize utilization of resources, delivery and formation process and
provide a new way and techniques with cheaper cost and value added quality products. 4Com
adopted this innovative idea and used this approach widely in their products and services
facilitating consumers same services and products with good facilitates and long term warranty
in better and affordable rates. This resource new structure and manufacture and functioning ways
of completing same tasks with assistance of various elements which are elaborated below:
Extra Characteristic Assets at Beginning -
This is necessary invention and it is used by 4com company, to modify and improve
services and goods. In the magnitude to render gratification to consumers and assistance in
intensify benefit and industry share of the commercial enterprise (Melville, 2010.). 4Com
innovative trade good will make available to the brilliant occurrence of the gadgets to consumer.
For example, company usually provide cordial software to their customers , that can be helpful
to manage organisation dignity and pride in market and among customers.
Reduce the cost of production –
This facilitates low price production facility through economical approach of innovation
that may help in new techniques and tools. This might assist in increase net value and revenues
that can be gathered through selling their commodities. People can be attracted through
providing high quality in lower prices.
Trade Line Deployment -
4Com launch advanced and modified products and targets to attain middle as well as elite
class Frugal innovation assist to company for increasing their merchandise line which
intentionally help to company in growing market.
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TASK 3
P5 Value of commercial funnel and implication of New Product Development (NPD)
There is wide difference between product selling and commercial funnel. 4Com offers it
consume4r telecommunication and network services such as smart phones, gadgets, calls, line,
networks, VPN, technique gadgets, software of editing and other services, broadband and other
variety of services. Company made all these products to satisfy and provide wide variety of
products to their consumers and also develop their product and innovate services according new
trends and changes that occur in society.
Commercial funnel innovation used to apply to investigate customers demands, needs,
requirements and to meet their desires in a specific product. The investigation include product
development and distribution in different location and stores and make it available for consumer.
This include satisfaction and influence customers through measurable and economical form and
gain consuming quantity of products in market of UK.
Apple Inc. use various strategies and techniques in order to produce variety of
technology (Lundvall, 2010). Thus, 4com also provide online calling and free calling facility
along with new features and technology and structure of gadgets. 4Com adopted HiHi
technology of Apple Inc. in order to facilitate their consumer something new.
Commercialization is a technique by which any organisation can introduce and launch
their product in market and inform mass number of people about the product. This technique is
used to promote and broadcast the information and attract consumer toward their product in
wide amount. Commercialization used an effective advertising techniques to attain consumer
attention and inform features and facilities of products that make it different from other and
give them a reason to buy that. Here are several steps that are mentioned for New product
development:
Generate Concept -
Generate a new concept and idea through the help of market research and business
environment analysis. Market observer analyse and observe business environment and notice
need of customers and cater a new result.
Concept Presentation -
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Idea that have been generated after the analysis of environment, it needed to be presented
in front of fellows and company in order to collect their views and funds. This is done in respect
of attract sponsor and make product affordable for company.
Investigation and evolution -
Main and major process of new product development. Organisation has to examine
business climate in order to understand weather this will be succeed in market or what are the
demerits of this plans (Leiponen and Helfat, 2010).
Business analysis -
They majorly analysis market to understand and examine environment to understand
working tactics and plans.
Product development – After the business analysis, product is being developed on new
parameters on which the feature changes have been noticed and observed. It is an arrangement of
manufacturing and resources that is required in development of products.
Commercialization -
All commercialization planning and strategies should be taken place in right time and
period through specific tools of media. So they understand their features and unique qualities of
products.
Execution -
After all the process is done and an preparation and planning is done , execution of
product in market is done in this process (Huizingh, 2011). Thus, feedback review is also done
in this process.
P6 Create an Innovation Business case consisting funding in way to access
4com group was introduced in market in 1999 aiming deployment in European market
and network industry. Enterprise solicitous case is usually deploy to confirm jeopardy of
economics in innovation, to extremely suitability in management in order to authorise thought
that is developed to assure if company is thinking plans based on facts and logics. Here few steps
are being explained that has followed in building case of 4com:
Executive summery -
4Com supply telecommunication services and networking plans in whole Europe with
ease. This has been done to attract consumers and make a better reputation and goodwill in
market and among consumers.
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Requirement -
There is organisation demand to build varies in company products such as phones,
gadgets and software and understand its need in market.
Cure -
Cure of a problem is require to meet as soon as possible before it take a drastic and
incurable form (Huberman and Miles, 2013). In order to bring desired changes in production to
meet customers demands.
Why product is innovative -
In further stage of business strategies planning, analysis of causes why people like the
company products before anyone. 4Com has been rendered by company HiHi products that has
increased quality of products of 4com. This technology provide an easy and non-stop video
calling services without interruption and a good facility of access anytime to improve there
function and products.
Market Research -
In this step, company make a market research to identify and separate consumer and
targeted audience before launching their product (Hjalager, 2010). The company build and goals
a specific group of people who are suitable for product purchase and increase buying process and
through which they can gain benefits.
Development and Designing -
To make product available in market, development and designing of product is made
according needs and requirements of markets and trends.
Investment Need -
To proceed practical development in project, 4Com will require funds and sponsor and
requirement to be invested. Monetary assets are majorly responsible for system of different
types.
Excepted Benefit -
After all process and budgeting and planning, an aggregate benefit is designed by
developed of product and market strategy which help in achieving minimum expenses that are
made in production and development of products. Company can gain financial banking through
various methods.
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TASK 4
P7 Analyse various ways which company can use to develop, retain and protect
Intellectual property is legislative concept that can be implemented accurately by
professionals. SME like 4com modify or evolve goods and in order to protect the little
inventions of them as well as initiatives in regard of products innovation by rights of IP
(Gassmann, 2010) . Trademark, sign, copyright of brand, patent includes in the process of
intellectual which helps in defending the content of enterprise and aid in building potential and
liable buyers.
Rights and Role of IP
In the scenario of information based economy, components of production return is lower
than knowledges return investment. Intellectual property rights aid in profitability through
providing the insurance of knowledge. To defend and protect exploitation of rights and art of
people, the authority of international judiciary that ave facilitates some rights through which the
protect of inventions can be done which includes copyrights, patent etc.
IP Tools
Organisation or professionals can defend their innovations or inventions by several
procedures involving trademark, patent that are briefed as below:
 Copyrights
Copyrights aids in defending the art including music, painting, artistic creation and other
initiation that needed a proof and registration.
 Patent
Patents process is done for helping or registering new process , products and instruments
and utilize new services (Hall, 2010). Organisations have to comply these regulations and terms
of patent.
 Trademark
It is the identity of introducing the services graphically and the gestural of presenting the
products reliability of enterprise.
CONCLUSION
In the following report, study of innovation and its importance in an organisation is done.
Also this is analysed that innovation is significant for development as well as product
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development and strategies development. Company can save and reduce there expanses of
production and delivery and commercialization through adoption of frugal innovation in their
organisation management and functioning of structure. Commercialization as well is also play a
vital role in promotion of products and to meet targeted audience through using effective and
perfect promotion strategy in market. This also helped with key steps and factors that help in
commercialization and developing new product launch in new market and techniques to attract
consumers.
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REFERENCES
Books and Journals
Adner, R. and Kapoor, R., 2010. Value creation in innovation ecosystems: How the structure of
technological interdependence affects firm performance in new technology generations.Strategic
management journal.31(3). pp.306-333.
Brown, T. and Wyatt, J., 2010. Design thinking for social innovation IDEO.Development
Outreach.12(1). pp.29-31.
Crossan, M.M. and Apaydin, M., 2010. A multi-dimensional framework of organizational
innovation: A systematic review of the literature.Journal of management studies.47(6). pp.1154-
1191.
Dahlander, L. and Gann, D.M., 2010. How open is innovation?.Research policy.39(6). pp.699-
709.
Davila, T., Epstein, M. and Shelton, R., 2012.Making innovation work: How to manage it,
measure it, and profit from it. FT press.
Edquist, C., 2010. Systems of innovation perspectives and challenges.African Journal of
Science, Technology, Innovation and Development.2(3). pp.14-45.
Gassmann, O., Enkel, E. and Chesbrough, H., 2010. The future of open innovation.R&d
Management.40(3). pp.213-221.
Hall, B.H. and Lerner, J., 2010. The financing of R&D and innovation.Handbook of the
Economics of Innovation.1. pp.609-639.
Hjalager, A.M., 2010. A review of innovation research in tourism.Tourism management.31(1).
pp.1-12.
Huberman, A.M. and Miles, M.B., 2013.Innovation up close: How school improvement works.
Springer Science & Business Media.
Huizingh, E.K., 2011. Open innovation: State of the art and future
perspectives.Technovation.31(1). pp.2-9.
Leiponen, A. and Helfat, C.E., 2010. Innovation objectives, knowledge sources, and the benefits
of breadth.Strategic Management Journal.31(2). pp.224-236.
Lundvall, B.Å. ed., 2010.National systems of innovation: Toward a theory of innovation and
interactive learning(Vol. 2). Anthem Press.
Melville, N.P., 2010. Information systems innovation for environmental sustainability.MIS
quarterly.34(1). pp.1-21.
Patti, G.J., Yanes, O. and Siuzdak, G., 2012. Innovation: Metabolomics: the apogee of the omics
trilogy.Nature reviews Molecular cell biology.13(4). pp.263-269.
Teece, D.J., 2010. Business models, business strategy and innovation.Long range
planning.43(2). pp.172-194.
Online
Innovation of small medium enterprises for sustainability. 2011. [Online]. Available through:
<https://www.slideshare.net/togar/innovation-of-small-medium-enterprises-for-sustainability>.
[Accessed on 12th August 2017].
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