Innovation & Commercialization Strategies

The assignment delves into the significance of innovation within companies, highlighting its role as a key driver compared to mere inventions. It emphasizes the impact of leadership, organizational culture, and teamwork on fostering innovation and successful commercialization. The analysis covers various tools and models, including the 4Ps of innovation, the innovation funnel, and the new product development (NPD) process. Furthermore, it discusses the limitations of intellectual property rights in the global market.

Innovation and Commercialisation

INTRODUCTION
Innovation can be defined as the complex and multi-faceted process which contains a
broad spectrum of activities and their outcomes. However, commercialization can be considered
as the process of transforming idea, inventions and knowledge on to next level which will be
beneficial for organization as well as for the individuals (Maritz and Donovan, 2015). The
significance of both these methods is to provide better productivity by using innovative
technologies and unique ideas so that business processes can be improved. This assignment
contains the processes of innovation and commercialization chosen by Virgin Group. This report
is having the case studies of Apple and Virgin Group which is showing importance of both these
processes. Further, this document shows tools and techniques used in developing, protecting and
retaining knowledge of properties in context of the case study given.
TASK 1
P1. Importance of innovation to the employees in reference with invention
Innovation is the process used by employees of organization to develop customer's values
by providing solutions to their queries and meet requirements of them. The use of innovation
technologies by employees will definitely increase productivity and provide a slight competitive
advantage (Wnuk, 2010). Organizational innovation also refers to implementation of new
methods as it will provide the opportunities to show their skills so that all business activities can
be followed in the most accurate manner. Talking about the software firm Dearman, the
innovation process has been improved. By using these techniques, an individual can also create
new ideas for organization so that it will improve the performance of company.
Invention can be referred as implementing and obtaining those ideas which were never
prepared earlier. Innovation is using the idea which is already developed. By invention, the
organization will be able to create new products and innovation is something which will act like
add-on to the already existing technologies. There is an incredibly new software which is taxing
all the employees of the organization in achieving their goals and objectives. Such kind of
innovative software will be very helpful in raising the revenue by 50% (Bianchi and et.al., 2011).
Employees are not the only one who is the driving force, organization is also one among these as
they are providing high quality services to their consumers. Apple is having its innovation
process based on manufacturing sleek and small devices that is famously known as iPod.
1

Despite having interesting and innovative gadgets in the market, Apple has developed
such kind of device which can store large number of songs in a very small space. This innovation
process was unique and it has become superior in the market. It has gained the market share of
about 31% and total revenue of around 56%. This device helps all the employees in presenting
their ideas and creativity. On the other hand, Virgin Group is taking small steps which are very
simple and related to the investment ventures. This also includes Virgin Atlantic, Virgin Rail,
Virgin Blue, Virgin Mobile, etc (Larkins, 2011).
P2 The Vision, Leadership, Culture and the teamwork shaping innovation and commercialisation
Commercialisation helps the organisation further to take innovation processes to certain
new level for to make profit to an organisation. In the commercialisation of the company
innovation plays a very crucial key roles. The organisation needs to imply the importance of
Vision, leadership, teamwork and the culture in order to formatting the process of
commercialisation and innovation.
 Vision: - Vision is the statement which aids the organisation to develop about its future
plans, approaches and the direction in the development to assist in the gaining and
maintenance of the profit. Vision of the company includes assets and guidelines about the
future development activities. Dearman is having vision to make reconciled efforts in the
reduction of their cost of operating, usage of the fuel and reduction in the emission as
well in the assessment of the environment affecting factors. Vision ensured and enabled
Dearman to use their various potentials and technology, and to make changes according
to the time in their products and services (Chasto, 2017). Similarly, as in case of Apple
the company introduced an ipod which was designed very innovative with a clear vision
to develop their product in the market as compared to other MP3 players in the market.
 Leadership: - In order to motivate the company and its employee to work upon
particular idea which assist in the generation of higher revenues, the leader is required for
a company. The leader in an organisation can motivated their employees to work with
more efficiency and develops their techniques and skills. Leader provides potential to
their employees. The managers in Dearman continuously working to develop and emerge
the potential ideas and skills of their workers focusing in to develop the efficiency of
their Engines similar to the managers of the virgin group helping and providing
opportunities to their potential employees.
2

 Culture: - The culture of an organisation is the role of creation of work-environment for
the employees in company. It provides help to the managers to achieve and formulate
new ideas. The culture of an organisation help the employees to achieve set goals and to
maintain positive work culture which motivates company to move forward in the
direction of development (Love, Roper and Bryson, 2011). It enables the
commercialisation to implement more effectively. In order to aid customer's satisfaction
and company development companies like Apple and Virgin mainly manages and
maintain the culture in their organisation.
 Teamwork: - The team work is very much essential in order to achieve and implement
work on innovative ideas and objectives of the company. When, an objective is set by the
management having thoughts and ideas of majority to get fast and effective results, all the
employees and managers work together to complete the set objectives which results in
completion of task with more efficiency and effectively. The teamwork at Dearman is
effectively very important to provide customer satisfaction. It will enable the company
better to implement new technologies to Transport Refrigeration Unit. With the effective
team work in companies like Apple and Virgin the companies are able to make such
profit and big name in the market.
TASK 2
P3 Innovation's 4ps and the uses of innovation funnel
The 4ps of innovation is developed by John Bessant and Joe Tidd. This innovation mix
enables the organisation to improve and begin their business. The innovation mix contains
Paradigm, Products, position and process (Polzin, von-Flotow and Klerkx, 2016). These 4ps will
help Dearman in the planning to improve and innovate their products, processes, position and
paradigm.
3

 Paradigm: - It uses innovation for to improves the business. It helps the company come to
know about their possible changes that can leverage their profit. Changes could be
business models and different policies of the company.
 Product: - The innovation in products helps the company to suggest the ways of
incremental change, which can make their product better and different from others.
 Process: - Innovation in the process includes all the steps taken to supply, workflow,
hiring employees and their training to increase the profit of the company.
 Position: - This consist of changing the environment which is framing the products and
services (Ram, 2010).
Innovation Funnel: -
4
Illustration 1: 4Ps of Innovation
(Source: - Discovering the Realm of E-Business..., 2017)

The converging of the specific products that can meet the need of the market in the form
of economy and manufacturing. A large range of input is provided to refine the best option from
the funnel. The idea for Dearman investigation to produce outcome, firstly the mouth of funnel
should be widened, that is Dearman have to increase their ways to access information which
enhance the new ideas for products and processes. Other is the narrowing the funnel's neck that
is gathered resources must lay their focus on most attracting opportunities (Teece, 2010). At last
the focus is on completion of chosen ideas.
P4. Development of frugal innovation on response to necessity v/s market driven innovation
The aim of frugal innovation is to bring services, system and products to the reach of
poor customers. Fugal innovation is significantly cutting the non-essential cost of products and
other services to en reach them to the range of customers. Frugal innovation can also be referred
as the removal of unnecessary parts and waste material from the product which reduces its cost
as compared to before.
5
Illustration 2: Innovation Funnel
( Source:- The new extended innovation funnel, 2011)

Dearman is a technology company which can use the techniques of frugal innovation to
reduce unnecessary part in their engines and products which will result in the reduction of their
product’s cost and make them more cost efficient as compared to their other competitors.
Frugal innovation can be helpful in demand driven innovation for the new companies to
meet their customers demands and save company's assets. Frugal innovation can help the
company to reduce their waste production and removes unnecessary products which are using
their resources and help them to work more efficiently.
Whereas, in market driven innovation, the clients are provided with a roadmap to paying
growth, the company is built near the market which can be helpful to save extra expanses such as
transportation. It provides a deep understanding of desires and need outcomes done by the
customers in their market (Mazzarol and et.al., 2014). Use of these techniques can reduce the
chances of loss in business and helps in the production of good with least waste.
Using these ideas, the organisation produces team efforts to reduce the extra costing and
waste production of company's products, which makes the company more cost efficient and
assets them to compete in the market with their rivals.
TASK 3
P5. Need of commercial funnel and Uses of New Product Development
Commercial funnels is of utter importance. It is effectively assists the launching of the
new and innovative products in the market. The platform is provided for products which are new
in the market. Commercial funnel selects the useful products and help in the implementation of
those products in the market. To assess the current market needs, formulation of new product is
done with the help of implemented ideas. The organisation will be able to satisfy the need of
their customers with these innovative and effective ideas produced by funnel. This effective
commercial funnel is utilised by Apple and Virgin Group as well to introduce their products in
the market, this helps these organisations for the creation of such influence in the market.
As companies started refocusing on growth, innovation has become the priority of them.
The innovation in company results in to approach companies to their growth strategies. It helps
in the generation of new ideas, and allow the company to turn those ideas into productive good
and services. Innovation is very important across growth strategies. The use of performance
6

assets, can provides different property and the evidence of the particular implementation of
technology. The products which results in to make benefits to the customers of the company. It
can be as: -
 Successfully accomplishment of thoughts and new ideas for innovation start-up
 It improves the process of business and increases efficiency as well as productivity of
company (Lolich, 2011).
 It extends the quality and range of existing products.
 It also results in the formation of customer relation and introduction of new customers.
Commercialisation is the process which converts innovative ideas and research into
executable production system and products & services. It consists of designing them in such a
way that manufacturing of products produce very low costing and their implementation will be
quick, providing high quality. Development of new products plays main role for the
commercialisation of innovation as it provides new values to customers as well as improves
society along with supporting in existence of company.
P6 Business case and ways to access funding for Dearman
In case of Virgin group their business area refers to travel, finance, live style, and
entertainment, this group has continued its growth from simple business to big investment
ventures which is including Virgin Express, Virgin money, Virgin Atlantic and other groups this
regularly consistent growth of the Virgin group is because of aggressive entrepreneurial
behaviour and techniques by Branson and curiosity toward the exploration of new horizon of the
business. In case of new ventures all the senior personnel from different department comes
together for establishing new venture, Each member in this case is able to put their ideas and
suggestions for the establishment of the new venture (Miller and et.al., 2016). This structure and
planning supports Virgin group for the development and formation of their innovative ideas and
cases where each member is able to present their point of view about the ideas and formation of
new and innovative strategies.
In 2001 apple introduced a sleek looking device named ipod. A digital music player
which is a sense as to provide starting point in the market.
In case of Dearman, it is a technology company which is making Clean Engines with
piston powered by the expansion of liquid air. Using liquid air in the Engines manufacturing by
the company produces clean and cold air. Dearman can improve their application providing for
7

both Engine and cooling requirements sectors, where there are requirements of both cooling and
engine power. Company should keep in mind that data centres and others, who need power and
cooling is not necessary to be in line. Sectors may use only power or only cooling in one time,
Company should focus to make their engines to both Cooling and power efficient at the same
time and look for those sectors which requires both power and cooling at same time for example
Data Centres.
Dearman is the first to meet every possible challenges of environment and had set new
performance standard in the industry, the main missions of the company is to provide “All
without compromising to cost”. Missions is to provide zero emission at point of the use with
very low carbon use and providing superior performance with very less sound (Mazzarol,
Reboud and Volery, 2010). To provide high power with superior performance and efficiency.
The transport refrigeration unit of Dearman enables them to enhance their sustainability as
compared to others which poses tough choice between priorities competing. Dearman can
empower its employees to make decision and provides suggestions for the development of the
company, can accept and hold their self interests to develop in the market of TRU. The
organisation can get the sources of funding by internal and external sources such as bank loans
and with the help of other financing companies. The use of resources can also provides funding
such as mainly there are 2 resources of funding physical resources and human resource.
TASK 4
P7 Tools used by an organisation for developing, retain and to protect knowledge & successful
innovation
Intellectual property can be referred as the creation of mindset such as inventions,
designs, symbols or name s and images used in commerce. It is protected by law, which contains
Patents, trademark and copyrights (Robinson and Stubberud, 2012). It enables organisation such
as Dearman and other to create the name of their brand in market and differs their brand from
other rivals in the market. Intellectual property system aims to adoptive creativity and flourishing
of the innovation in an environment.
 Copyright: - Copyright is the legal terms which is used to account the right of the creator
on his artistic, literacy and other works. This covers the database, computer
programming, maps, technical drawing and advertisement work of companies and books,
painting, films, sculptures, and other.
8

 Patents: - Patent is a right which is granted for an invasion, it provides official rights to
an inventor that he has invented that product. In general it provides rights to the owner
about to decide how or whether his invention is going to be used by others. In dealing for
this right the inventor or owner of the patent makes technical information of invention
public-ally available in the published documents of patent.
 Trademark: - A trademark is the signature or mark sigh which is capable to distinguish
good and products of the company from other rivals companies selling the same products
and goods in the market.
The productive use of IP tools will definitely play a main role in the lowers the risk and
help in to collect acceptable returns for the participation in process, it also helps in conducting
the activities of taking new updated technology to the market , the branding is very crucial in the
protecting of the innovation ( Frenz and Lambert, 2012). Intellectual properties are also having
some limitations in context with international market.
 Registered trademark does not authorise the organisation to the relating internet domain
name, other organisation which are also having similar trademarks can take advantage of
the company's name and brand.
 Copyrights does not protect the ideas of the company, it only enforces the way in which
idea is expresses to be effective.
 Similarly, Patents take time and money for to establishing. Before, patent the person has
to research that there are no existing patents of the similar invention. The patent office do
not take side to protect the patent.
 Open source & open innovation are basic way to innovate software industry , this is
important and very effective form of software.
CONCLUSION
From the above report it can be concluded that innovation in any company is very
important as compared with inventions. The visions, leadership culture and teamwork in an
organisation plays very crucial role in innovation and commercialisation. The above report is
throwing light on 4Ps and uses of innovation funnel, following with the importance of
commercial funnel and applications of NPD.
Dearman can follow the business case and ways to access their funding and use different
tools that can increase their market in Transport Refrigeration unit.
9

10

11