Innovation And Commercialization Assignment- A1 Ltd
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Added on 2020-06-06
Innovation And Commercialization Assignment- A1 Ltd
Added on 2020-06-06
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Innovation andCommercialisation
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1P1Innovation and its importance to employees of A1 Comms Ltd........................................1P2 A1 comms Ltd vision, leadership, culture and teamwork can shaping innovation...........3Task 2...............................................................................................................................................4P3 4Ps of innovation and the use of the innovation funnel for shaping idea's in employee's4P4: Explaining the process of developing frugal innovation in A1 Comms Ltd....................6Task 3...............................................................................................................................................7P5 Importance of the commercial funnel and the application of New Product Development7P6 Innovation building case for A1 comms Ltd including way of access fund.....................8TASK 4............................................................................................................................................9P7 Different tools for developing, retaining and protecting intellectual property.................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONInnovation refers to a new idea, method or a device that has been applied for the first timefor getting better results and outcomes. Basically, it is a process where translation of idea's orinvention into a product and services for which consumers will pay higher value. Today,organisations requires processes which will boost their level of efficiency and effectiveness.Innovation is considered to be an idea that is replicable at an efficient cost and is able to satisfyrequirements (Adam, 2014). Innovation is important as it increases the value of products andservices that are being offered to market. The report is based on A1 communication limitedwhich is an independent company working in the filed of telecommunication. It is based inLondon, United Kingdom. It has been listed by many online forum and other agencies as one ofthe most innovative and exciting company that is currently operating in the marketing. But thereare some issues that exist and need to be solved which will be stated in this report. TASK 1P1Innovation and its importance to employees of A1 Comms LtdInnovation is considered to be one of the tools which needs to be used for enhancingcompany efficiency and effectiveness levels. This is a method that differentiated A1 comms Ltdfrom rest of the companies in the market (Bastalich, 2010). It assist in boosting quality ofproducts and productivity of organisation. There are certain activities that are required forincreasing the rate of innovation in organisation, such as, positive environment, equalopportunity and resources. The workers in organisation many times develop doubts related to invention of newproducts and innovation. Both of these terms are entirely different and do not represent oneanother. The difference between these two are stated below:BasisInnovationInventionDefinitionIt is considered to be an activity whichis needed to be conducted as toimplement an idea that has never beenpractically used before as to get morevaluable and effective results. This is a process which is undertakenby an individual who has generatedand screened an idea that will changetechnology or a prevailing method. What it isBasically it is considered to be creationHere something new is developed for1
of something new but it is not as italready exist on paper or inexperimental mode (Chun, Chung andBang, 2015). It is best known to be anmodification of existing strategy. the very first time. Required skillsIndividual is required to have higherlevel of knowledge of his filed.Scientific skills and other knowledgeis required. A1 communication is working in the field of telecommunication which is known formajor companies and intense level of competition. There is higher level of threat of new entrantswhich can hamper organisation profitability and capabilities. This company can take cue fromApple Inc which has grown to be an market leader of innovation (Clausen and Rasmussen,2011). In 2000 it introduced I-pod which was smaller in size and had more features as well asbattery life. It changed the whole Walkman industry. The small changed introduced by Appletook it to the heights which made it biggest company in size and revenue. A1 comms Ltd canlearn from it and bring in more innovative changes as to enhance its capabilities as well as imagein the market.There are certain advantages of innovation to A1 comms Ltd and its existing manpower:For Company: It is useful and important in boosting margin of profits and efficiency.This aids in raising level of satisfaction in customers as well as enhances image of company inmind of consumers. Through innovation, organisation meet the new and modified products andservices along with worker skilled enhancement. For Workers: Employee are able to do critical thinking and address issues related toskills of organisation. The level of individual skills, ability and knowledge is boosted and it aidsthem in boosting their career growth. Worker can widen their knowledge and use specific skillsfor particular requirement of enterprise as well. These are the stated benefits of innovation to company and individual working in it (Coshand Hughes, 2010). A1 comms need to integrate innovation to their business process as to boostits own capabilities. As Apple have invented i-Phone which later was innovated as variousversion of it such as i-Phone 5 – i-Phone X8 including some new technologies and featureswhich have helped organisation in constant development. The company have used the process in2
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