Innovation and Organizational Growth

This assignment delves into the crucial role of innovation in driving organizational growth and success within competitive markets. It emphasizes the importance of effective management in identifying opportune moments for innovation adoption to attract a larger customer base. The 4Ps of innovation are analyzed as essential tools for proper evaluation and implementation. The document also highlights the significance of trademarks and copyrights as legal mechanisms to protect a company's intellectual property and brand identity.

Innovation
And
Commercialisation

Contents
INTRODUCTION.................................................................................................................................3
TASK 1.................................................................................................................................................3
P1: Difference between innovation and invention and advantages of innovation to organisation......3
P2: Contribution of organisational vision, leadership, culture, teamwork in innovation and
commercialisation..............................................................................................................................4
TASK 2.................................................................................................................................................5
P3: Analysis of 4P’s of innovation and application of innovation funnel in development of
innovative ideas.................................................................................................................................5
P4: Development of frugal innovation...............................................................................................6
TASK 3.................................................................................................................................................7
P5: Use of NPD for innovation and commercialisation and importance of commercial funnel.........7
P6: Development of innovation business case:..................................................................................9
TASK 4.................................................................................................................................................9
P7: Evaluation of the tools which are used by the organisation to develop, retain or protect
knowledge and intellectual property rights........................................................................................9
CONCLUSION...................................................................................................................................10
REFERENCES....................................................................................................................................11

INTRODUCTION
Innovation may be considered as an effective source which helps an organisation to
achieve its desired goals and objectives within limited period of time. Therefore, innovating
business structure on regular basis helps them in surviving in competitive environment for
longer period of time. The managers are held liable to use their skills and knowledge and
make an effective decisions regarding implementation of new ideas and techniques in the
business functions so as to achieve competitive advantage in business world. The present
assignment is based on Rowlinson Knitwear which deals in providing school and corporate
ear garments in UK. The project covers the beneficial result after adoption of innovation and
also includes its comparison with term invention. The role of company’s vision, culture,
leadership and team in adoption of innovation and commercialisation is also discussed under
this report. The project also summarises 4P’s of innovation and the application of innovation
funnel along with its benefits (Antikainen, Mäkipää and Ahonen, 2010).
TASK 1
P1: Difference between innovation and invention and advantages of innovation to
organisation
There are lots of differences between innovation and invention but both provide
beneficial result to an organisation. The management is liable to invent something which is
introduced in market for the first time in market and thereafter make innovative changes in
them on regular basis according to the customer’s needs and requirement. In other words,
Innovation confirms existence of an organisation for longer duration.
Difference between Innovation and Invention:
Innovation Invention
It refers to make changes in something which
help them in reviving in market for longer
period of time.
It refers to something new which comes into
market for the purpose of fulfil customer’s
needs and requirements.
The main objective of innovation is to sustain
company in market and achieve competitive
advantages as well.
The main objective of invention is to bring
new and effective ways and methods to
complete any activity in more effective and
efficient manner.
Innovation can be implemented by any
department of an organisation.
Research and development department are
only such department which are liable to
introduce new ideas which help an
organisation provide something new and
effective to customers.
Importance of Innovation to organisation
There are lots of advantages Rowlinson Knitwear can achieve after adoption of
innovation in business operations. But it can be possible only when the management can able

to identify the needs and requirements of customers and determine the changes they want in
their existing products and services. Therefore, the management are playing a valuable role
along with the innovation in achieving growth and success of an organisation. For example,
implementing effective and cost effective technologies in production process help an
organisation in producing quality products with less cost which brings beneficial result to
customers as well as an organisation. Some advantages of innovative are as follows:
Application of best method: There are various departments who work for the
betterment of Rowlinson Knitwear. Such departments include production, marketing, finance
and operation. They all are contributing maximum efforts in achieving desired goals and
objectives. Therefore, implementing new and innovative technologies and tools in such
departments will guarantee success of an organisation. For example, adoption of advanced
technology in marketing process such as using social media, Advertisement on TV, Radio
etc. help Rowlinson Knitwear to attract lots of customers and may influences their buying
behaviour as well. This will increase the profitability of company (Camisón and Villar-
López, 2014).
Competitive advantages: Adding some extra value to products in form of changing
design, pattern, colour etc. of clothing product help Rowlinson Knitwear to compete with
their rivals in more effective and efficient manner. Therefore, changing in the features of
existing products which makes different and unique from their competitor’s product help
company in achieve competitive advantage in market which also ensures the in sustaining in
market for longer period of time. This will increases the competition in market due to which
the customer get good quality prices at an affordable prices.
P2: Contribution of organisational vision, leadership, culture, teamwork in innovation
and commercialisation
Implementation of innovation and commercialisation in an organisation are also
supported by vision, leadership, culture and team work of an organisation. Thus, it is
important for management of Rowlinson Knitwear to focus on such aspects and communicate
with their employees regarding company’s vision and objectives so that they perform in right
direction and perform allotted task within given timeframe. Here, leaders also play an
important role in enhancing the skills and capabilities of employees and motivating them to
work in team so as to bring new idea and innovative ways to achieve desired goals within
limited period of time. Therefore, managers and leaders of Rowlinson Knitwear need to
consider all such aspects before thinking of adopting innovation in business operations. Such
aspects are explained as below:
Vision: It includes the target decided by management of an organisation so as to
achieve in future with a hope of sustaining in market for longer period of time. Rowlinson
Knitwear deals in providing school and corporate wear to the customers of UK thus the
company have clear vision to provide wide range of clothing products such as jeans, t-shirts
etc. in order to capture large market share in future. This can be happen only when the
management are enough capable to forecast the needs and preferences of customers so that

they are ready with their new and innovative techniques to meet such requirements in an
effective and efficient manner (Cimoli, 2013).
Culture: An organisation may faces conflicts at workplace due to cultural differences
which makes huge impact on the performance as well as implementation of innovation in
business structure. As difference in culture increase communication gap between the top
authority and employees through which the company’s plans and polices are not clearly
defined to them. Therefore, it is important for managers and leaders to maintain culture in an
organisation and create a platform where the employees can discuss with others without any
hesitations. This will help in implementing new techniques in working structure as well.
Leadership: Leader is one who is able to motivate and guide employees in
performing given task in profitable manner. Thus, the leaders of Rowlinson Knitwear should
also required to give more freedom to their employees and motivate them to bring new and
innovative ideas to execute in business operations in order to get better outcomes in near
future. Identifying employee’s needs and capabilities help leader in maximising their
efficiency level.
Team work: Working in a team always ensures company in getting positive outcome
in near future. Therefore, the manager is held responsible to identify the skills and knowledge
of their workers and accordingly allocate them in team so as to achieve desired target within
allotted time frame. Performing skilled and knowledgeable employees together increases the
chances of bringing new and innovative ides of completing task thus it is important for a
leader to motivate employees to work in a team which brings profitable result to them as well
as company (Gronum, Verreynne and Kastelle, 2012).
TASK 2
P3: Analysis of 4P’s of innovation and application of innovation funnel in development
of innovative ideas
4P’s of Innovation:
Process of innovation: It includes the alteration in process of production as well
marketing with the hope of getting positive outcome to company. The managers of
Rowlinson Knitwear need to focus on their budget and accordingly allocate amount to
different departments for the purpose of utilising them in producing and promoting
company’s product in more effective and efficient manner. It will help company in improving
their profitability as well as influencing the buying decision of customers in favour of
purchasing company’s products and services. For example, implementation of cost effective
techniques in production process help in manufacturing quality clothing products with less
resources which positively affects their profitability as well as satisfaction level of customers.
Product innovation: It includes the changes or alteration in the existing products
offered by an organisation to the customers. It can be done by the management after
considering the needs and preferences of their targeted customers. Therefore, R&D team of

Rowlinson Knitwear need to conduct research and identifying the changes the customers
want in their products and services. This will help company in retaining loyal customers for
longer period of time.
Position innovation: It includes the changes made in relation with perception and
behaviour of customers while buying company’s products and services. It is important for
manager of Rowlinson Knitwear to analyse the customer’s thought and views related to their
products ad accordingly implement necessary steps to convert their behaviour and perception
in favour of them. The manager also gives their maximum efforts in presenting company’s
product in market in such an effective way that will help in building good image in front of
people (Hanna, David and Francisco, 2010).
Innovation: It refers to the changes made in organisational structure with a motive of
giving healthy environment to their employees so that they can perform without facing any
difficulties. Therefore, the managers of Rowlinson Knitwear need to create a platform
through which the employees can easily interact with others and discuss their new and
innovative ideas. This will help in improving the interest and behaviour of workers which
brings beneficial result to company in future.
Innovation funnel
It is the process of adopting new and required changes in the features and
characteristics of existing products so as to meet customer’s needs and requirements. This
will help company in retaining loyal customers for longer period of tie and achieve strong
position in market. Following are such three stages through which such implementation can
be successfully done:
Wide of mouth: AT this stage, new ideas and methods are created in order to add
extra value to existing products and working structure with a motive of maximising the level
of satisfaction of customers as well as employees. Such ideas can be create through making
research on competitor’s product features, needs of workers, customer’s preferences etc.
Selection of idea; At this stage, the management should opt one best idea among
different option after considering and analysing the effectiveness and efficiency after
implementing such changes. This will ensure to get profitable outcomes in near future.
Implementation of idea; This is the last stage at which the management of Rowlinson
Knitwear should decide to implement selected ideas and methods and make an effective
decision and plans regarding successfully implementation. The needs and requirements of
customers as well as employees should be taken in mind while implementing such changes in
an organisation (López-Nicolás and Meroño-Cerdán, 2011).
P4: Development of frugal innovation
Frugal innovation: It refers to such features of products which are not required by
customers and thus removed by an organisation with a hope of attracting large number of
customers. Eliminating unwanted features from the existing products help company in
reducing cost of production which provide an opportunity to invest saving amount to other

important areas. For example, Rowlinson Knitwear produce clothes building some design in
it which do not want an organisation from their employees to wear such designed clothes.
Therefore, eliminating such design help Rowlinson Knitwear to retain commitment of loyal
customers towards them. The advantages Rowlinson Knitwear can receive after adoption of
such frugal innovation are given as below:
Reduction of production cost: Removing unwanted features, design, pattern etc. from
clothing product provides an opportunity to production department of Rowlinson Knitwear to
reduced cost of production and invested such amount on adding some extra value to product
which can easily attracts and influences the interest and bring behaviour of customers.
Development of new feature: Removing unwanted features and place value added
features Help Company in grabbing attention of lots of customers. After identifying the
customer’s needs and preferences help Rowlinson Knitwear to modify their products and
services for the purpose of maximising the satisfaction level of customers as well as
increasing sales figure of products (Østergaard, Timmermans and Kristinsson, 2011).
Application of new technologies: It is important for management of implement new
and advanced technologies in their production as well as marketing process which help them
in communicating with their customers and inform them about the quality, features, design
etc. of their products so as to attract their interest and buying behaviour in order to achieve
huge profitability and capture large market share.
TASK 3
P5: Use of NPD for innovation and commercialisation and importance of commercial
funnel
Commercial funnel: It is the process of identifying the perception of customers
towards company’s product and accordingly makes changes in order to convert the interest
and perception in favour of company. Such customer’s interest can be identified through
conducting research in which appointed researcher ask relevant questions to the customers
relating to the product and collect their views and suggestion to make changes in existing
product. The managers of Rowlinson Knitwear need to make an effective decision and plans
with the help of available information gathered from research which provide an opportunity
to company to maximise the satisfaction level of their targeted customers.
Importance of commercial funnel
There are lots of benefits Rowlinson Knitwear can attain after adoption of commercial
funnel which are described as below:
Improvement of quality: The customer’s perception towards company who provide
quality products are always good therefore the management of Rowlinson Knitwear need to
allocate proper funds to production department in order to manufacture quality products with
the help of utilising available resources in an optimum manner. This will help retaining loyal
as well as attracting new customers.

Increase in profits: Commercial funnel motivates an organisation to produce quality
products with a motive of creating good image in customer’s mind which help them gaining
huge revenue in future, Thus, the managers also need to focus on introducing new and
innovative ways of influencing customer’s perception in company’s favour.
Improvement in goodwill: Commercial funnel directs an organisation to give their
maximum efforts in performing its business operations in order to achieve strong brand
image in market. Having good image and goodwill easily attracts large number of customer.
As Rowlinson Knitwear is small sized company which has attained limited number of
customers. Therefore, the managers need to set their goals of achieve good image in market
so as to attract large number of customers (Un, Cuervo‐Cazurra and Asakawa, 2010).
New product development
It is the process of introducing new product in market with the purpose of meeting
needs and demands of customers and sustain in market for longer period of time. Therefore,
the managers of Rowlinson Knitwear need to first identify the behaviour and interest of
customers and accordingly allocate budget to manufacture demanded products in order to
attract large number of customers and achieve huge profitability. In order to bring new
product in competitive market, the managers of Rowlinson Knitwear need to implement
following steps in order to make new product more successful in market within shorter period
of time:
Generation of idea: In the first step, the management itself or motivates it employees
to create new ideas to manufacture product in order to maximise the satisfaction level of
customers as well as achieve high profits in future.
Screening of idea: After generation of idea, the next step is to opt best idea among
various options which increases the chances of achieving success in near future.
Defining concept: In this step, the manager should discuss with their employees
regarding converting new idea into action with a hope of getting support from them.
Business analysis: In this process, the manager should critically evaluate the
effectiveness and efficiency of product. This will help to know whether such new product
will become successful in market or not.
Product development: This step involves adoption of new and modern technologies
which help in adding extra value to new product which can easily attract eyes of customers.
Test marketing: In this step, the management deciding to adopt marketing strategies
which help in making new product more successful. It can be done through using various
promotional tools such as social media, pamphlets, TV advertisement etc. which help
company in informing customers about the benefits of new products.

Commercialisation: This is the last stage in which the managers analysing and
reviewing all above steps and accordingly make changes if required (Zeschky, Widenmayer
and Gassmann, 2011).
P6: Development of innovation business case:
Executive summary: Rowlinson Knitwear deals in providing school as well as
corporate wear garments in UK at an effective prices therefore to operate business in different
countries, the company y should required to implement marketing plans and strategies in
order to achieve huge customer strength. The main goal of company is to provide quality
products including some extra value added features which are not available in their rival’s
product.
Need: The only requirement of Rowlinson Knitwear is to know the actual demand
and preferences of their target customers so as to increase their satisfaction level.
Solution: With the help of R&D department, the company can able to identify
effective pricing strategies which maximise the buying behaviour of customers.
Research on customers: R&D team of Rowlinson Knitwear are liable to identify the
behaviours and perception of customers while purchasing company’s products and services.
Designing and development of plan: With the help of skilled and knowledgeable
employees, the managers can able to design and execute pre-determined plans in more
effective and efficient manner.
Investment requirements: Taking support from finance department regarding getting
required funds in order to execute business operations without facing any problems.
TASK 4
P7: Evaluation of the tools which are used by the organisation to develop, retain or
protect knowledge and intellectual property rights
There are different tools through which Rowlinson Knitwear can able to develop,
retain and protect knowledge and intellectual property rights. Such tools include:
Patent: It is such a tool which helps Rowlinson Knitwear to stop others using their
design, features etc. For this, the company should first provide an application form to
government and registered such design with company’s name.
Trade mark: It an effective tool which company can protect its symbol, work line or
tag from the other companies and allow them only after getting permission.
Copyright: It is also such type of tool which helps company to restrict other
companies to use their name or identity with the purpose of selling their own products (New
Product Development Stages. 2017
).

CONCLUSION
It has been summarised from the above project report that Innovation drives an
organisation to achieve growth and success in competitive market for longer period of time.
For this, an organisation must required to have effective management who help in identifying
right time to adopt innovation in business operations in order to attract large number of
customers. 4P’s of innovation are also required by management to properly analyse.

REFERENCES
Books and Journal
Antikainen, M., Mäkipää, M. and Ahonen, M., 2010. Motivating and supporting
collaboration in open innovation. European Journal of Innovation
Management. 13(1). pp.100-119.
Camisón, C. and Villar-López, A., 2014. Organizational innovation as an enabler of
technological innovation capabilities and firm performance. Journal of business
research, 67(1), pp.2891-2902.
Cimoli, M., 2013. Developing Innovation Systems: Mexico in a global context. Routledge.
Gronum, S., Verreynne, M. L. and Kastelle, T., 2012. The role of networks in small and
medium‐sized enterprise innovation and firm performance. Journal of Small Business
Management, 50(2), pp.257-282.
Hanna, D., David, I. and Francisco, B. eds., 2010. Educational research and innovation the
nature of learning using research to inspire practice: Using research to inspire
practice. OECD publishing.
López-Nicolás, C. and Meroño-Cerdán, Á.L., 2011. Strategic knowledge management,
innovation and performance. International journal of information management, 31(6),
pp.502-509.
Østergaard, C. R., Timmermans, B. and Kristinsson, K., 2011. Does a different view create
something new? The effect of employee diversity on innovation. Research
Policy, 40(3), pp.500-509.
Un, C. A., Cuervo‐Cazurra, A. and Asakawa, K., 2010. R&D collaborations and product
innovation. Journal of Product Innovation Management, 27(5), pp.673-689.
Zeschky, M., Widenmayer, B. and Gassmann, O., 2011. Frugal innovation in emerging
markets. Research-Technology Management, 54(4), pp.38-45.
Online
New Product Development Stages. 2017.[ONLINE]. Available through:
<http://productlifecyclestages.com/new-product-development-stages/>.