Innovation and Intellectual Property Management

This assignment examines the crucial role of innovation in driving business success. It delves into how intellectual property (IP) serves as a key tool for safeguarding innovations and securing competitive advantages. The document outlines various IP tools such as trademarks, patents, and copyrights, explaining their significance in protecting inventions and fostering sustainable growth within organizations.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Innovation and its importance to employees.....................................................................3
P2 Leadership, vision, teamwork and culture shapes innovation and commercialization.....4
TASK 2............................................................................................................................................6
P3 4Ps of innovation and use of the innovation funnel to examine and shape innovative ideas 6
P4 Explanation of developments in frugal innovation...........................................................7
TASK 3............................................................................................................................................8
P5 Importance of the commercial funnel and the application of New Product Development8
P6 Innovation Business case..................................................................................................9
TASK 4..........................................................................................................................................10
P7 Tools used to develop, retain and protect intellectual property and knowledge.............10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Different practitioners and innovators have distinguished the terms of innovation and
commercialisation stating the fact that they are interlinked with each other. Innovation plays very
wide role in the success derive a paramount proportion that can help in development of new and
existing products. An organisation use this approach for more productive and quality
commodities production that can help in meeting the outcome. Professional Placement Resources
is a recruitment and selection company deals with the business organisation with their hiring
services. This report will analyse various elements of innovation and commercialisation along
with use of frugal innovation, commercialisation funnel (Adner and Kapoor, 2010). This is an
assessment in which culture, role and leadership role is mentioned in this procedure of invention.
NDP procedure and use of intellectual property would also be analysed in this assignment.
TASK 1
P1 Innovation and its importance to employees
In the advance era of technology, various changes has occurred in the business
organisation. Innovation refer to the process of innovating or translating an invention and idea
into a service and good which builds value which persuade consumer to pay. In brief, the term
refer to a great or effective idea implemented brilliantly, and interacted in a manner which is
both fully celebrated initial concept magic (Innovation of small medium enterprises for
sustainability, 2011). On the other hand, commercialisation is the procedure through which an
new services or good is established within the trade. Though these processes are initial and
essential for an organisation like Professional Placement Resource, it creates various different
barrier within the company that restrain their growth and development. Small business
organisations like Professional Placement Resource are obstructed from growth due to the
process not appropriate activities of commercialisation cause of lack of financial resources. With
help of innovation, company can offer better services to its customers and can better satisfy their
needs. With some updated technology or new feature in its software company can fulfil the
requirements of its target customers. It is very essential for company to have required resources,
skills and time for ensure effective implementation of innovation and to get all benefits related
with it. For enhance skills of workers, company can provide them training.
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But at initial term, this is required for organisation to develop an accurate understanding
between both innovation and invention terms. Invention refer to the technical and scientific idea
or technique which the mediums of their accomplishment (Dahlander and Gann, 2010. ). An
invention often is novel, unique, non-obvious and have its distinct utility. An invention is created
by an inventor and researcher through deep evaluating over a certain issues. This is an act of
discovering something which has never been formed before.
The term invention and innovation are closely interrelated with each other. He product
initially is being invented by inventor which later being innovated or modified into better version
of it through adding new features. For example, company has invented better activities of
requirements and selection within the market and they have expanded their reach in overall the
world through the digital technology. There are various sources which can help the Professional
Placement Resources business industry i.e. incongruities, needs of process, unexpected failures
and achievements, new skills and knowledge within the market, demographic changes,
alternation of perception and meaning etc. The company focus over using more advanced and
modified technologies for wide reach of enterprise in regard of recruitment (Davila, Epstein and
Shelton, 2012). This is the reason company have been enlisted as one of the best recruitment
SME in UK.
As both term, invention and innovation are interlinked, there are various basic differences
between these. Here are briefed major distinct:
Difference between Innovation & Invention
Invention Innovation
Invention refer to the new methods, products,
concepts and idea for establishing new concept
of business.
It refer to alternation and change in existing
methods, objects, commodities, services etc.
This require scientific and proper technical
research for meeting new discovery.
Use of new market trends evaluation and
organised innovation procedure is utilised.
For e.g. Invention of WWW. e.g. Constant improvement of WWW to
digitalised era.
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P2 Leadership, vision, teamwork and culture shapes innovation and commercialization
Workplace diversity can be profitable for the innovation through carrying all elements
together and widening the idea pool. Commercialisation and innovation is influenced from
various elements and factors within the organisation that shapes their basic formation.
Professional Placement Resource is hiring and selection company which contour their creative
modification within their services and products as they help in meeting the determined outcome
in better manner (Drucker, 2014). The factors which configures their different elements consist
of leadership style, teamwork activities and operations, culture of Professional Placement
Resources etc. Here are mentioned how each of these differently forms them mentioned as
below:
Organisational culture, teamwork and leadership impact
Professional Placement Resource is an consumer oriented highly driven placement
company which has been ranked as 7th best SME of placement in United Kingdom. The
enterprise represents number of people reaching wide range through the help of online media.
Various scholar in this sector who are manufacturing various effective services and products. It
has been observed that leadership, working methods and other components affects the strategies
of innovation and commercialisation, both Megan Boxcer and Richard Kiss are appropriate
example in regard of this case (Gassmann, Enkel and Chesbrough, 2010). The force of worker is
unique that can assist in delivering new company perception aiding in new services and products.
Hence leaders do not impose and rules their thoughts but guide whole team member for success.
Both of them coordinate effective working of team and managing the resources for attaining their
targetted goals. Leadership Role: It has crucial role in the organisation development which help in
expansion and improvement in enterprise. Megan Boxcer opt democratic styles of
leadership in their company. On the other hand, Richard Kiss has adapted the autocratic
style of leadership which is restraining their development. By undertaking the innovation
ideas of organisation in Professional Placement Resource, organisation can gain various
benefits. A leader determined the major decisions of company who decide nature and
elements of commercialisation and innovation within the company. By adopt democratic
style of leadership, leaders of firm can encourage employees to participate in decision
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making process through which all can develop mutual goals and can perform
accordingly. Role of Team-work: Teamwork activities is more beneficial techniques which can help in
working the whole activities in more productive manner. It has been proven that carrying
out effective teamwork activities that enhance overall productivity. Activities of team
work support the decision making of both businesses of Megan Boxcer and Richard Kiss.
It is very important for professional placement resource to encourage development and
working of teams at workplace as this ensure optimum utilisation of resources, at the
same time, help in get effective solution of complex business problems.
 Role of Culture: Culture of enterprise is essential aspect which can make the company
unique from different organisation. According to the culture of an enterprise
determination of innovation of services and product is being undertaken. Thus, the idea
can be gained (Hall and Lerner, 2010). The concept can be built on the basis of
enterprise's culture which can aid in considering the preferences and demands employee.
It is very important for manager to encourage employees to come up with new ideas so
company can provide innovative and new services to its customers.
Commercial practices can assist in promotion and marketing that can help in meeting the
determined target of newly launched and innovated products within market. The above
mentioned elements, therefore, set the major commercialisation and innovation methods that
PPR adopts and execute.
TASK 2
P3 4Ps of innovation and use of the innovation funnel to examine and shape innovative ideas
The beholder of enterprise often aims over the innovation in order o make radical
changes within the company. A company need different types of innovation for distinct situation
which can help them in altering and modifying their methods, structure , techniques or methods
modification (Hjalager, 2010). There are various innovation forms which is used for Professional
Placement Resources for different purpose. Here are mentioned the major types of innovation i.e.
explained here: Breakthrough Innovation: It incur within the organisation when they work over the
specific service that consist of numerous features in one commodity.
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 Sustaining Innovation: In order to retain the existing product in market, creating of
value is marked by organisation through adding new modification and improvement
within service. Disruptive Innovation: This define the new technology formation within the working
situation of market. It is more complex to use and expensive innovation type.
 New market innovation: In order to expand the business organisation, this types of
innovation is used. This perform in regard of introducing of services and products in new
trade.
Hence, these methods can enhance the productivity of the services and products which is
served by Professional Placement Resource. In order to meet the appropriate innovation in
suitable sector, PPR need to evaluate innovation mix i.e. explained as below: Product Innovation: It can be considered alternation in the system of manufacturing
which is need to develop for gaining more consumer within the marketing and
promotional activities (Huizingh, 2011). Process Innovation: There are numerous services that is positioned through company.
Professional Placement Resource is improving new commodities in market along with
creating several service factors that is helping them in development and evolution in the
competitive market. By the assistance of re-branding, firm can enable to meet the level of
credibility within the organisation. Press Innovation: This element indicates the environment or various elements of
environment in which an individual operate or develop the product. Conditions exist in
environment largely affect the creative skills of an individual (Leiponen and Helfat,
2010).
 People Innovation: Individual is Intrapreneur or entrepreneur, the one use his/her
abilities, skills, motivation and other to create a product. There is a model known as KAI
which can be utilise to measure creativity skills of a person.
P4 Explanation of developments in frugal innovation
Frugal innovation is a popular term which is utilised for the decrease of service cost and
product production cost by utilising less expensive techniques and altered technique. This
usually maintain reduction in non-essential service features that create the raise in sales of
services of PPR. These are innovation form which can help the society in several manner like
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decreasing the cost of overall manufacture, less utilisation of electricity along with lower
products and service prices in order to deliver effective cost and service. For example:
Professional Placement Resource is using the frugal technologies such as social media websites
for reaching wide range of consumer in less costing of the products.
Frugal innovation need to determine the mind-set to adapt the available development
opportunities in order to focus over the innovation value. It helps a company like PPR in
sustaining in the competitive industry through trimming the service production cost delivering it
to the minimum price in market (Manso, 2011). There are major six principles of frugal
innovation that is mentioned here: Engage and Iterate: This type of innovation claim to repeat the innovation in same
product without making techniques and alternation in the innovation. It states that
enterprise can meet the targetted outcome through innovation. Asset Flex: For better and appropriate strategies and idea solution, PPR is can divert
some of those innovation for supporting in enterprise sustainability. Sustainable Solution: This aims over the case issues in order to find a suitable solution
of issue. Shape Consumer Behaviour: By assessing the consumer preferences and buying
behaviour, Professional Placement Resource can adopt various needed change in their
products and services. It can help in meeting the positive outcome. Creation of consumer value: It is also regular and effective process of communication
and assisting consumer in evolution of organisation in numerous distinct processes.
 Innovation Stakeholders: For coordinating and organising better stakeholder,
organisation can improve development and evolution methods in various style ( Melville,
2010).
With help of all these principles company can easily create innovative solution for its
customers in effective and can offer the same to everyone. Main aim of frugal innovation is to
make the innovative features in reach of everyone. This provide various development
opportunities to firm so with this professional placement resources can increase number of its
profits.
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TASK 3
P5 Importance of the commercial funnel and the application of New Product Development
Commercial funnel refer to the process of forming or discovering new ideas or methods
for helping or producing new services and products. The procedure is used for execution of
company plans through undertaking various plans, ideas and strategies. This can aid in delivering
project idea within short period of time helping in the enhanced result in better manner.
This process comply for new product development that is require to adopt by
Professional Placement Resource within a short span of time. An enterprise faces various issues
and challenges for meeting the future outcome. The respected company is focusing over the
expansion of their business and enlarge their reach in order to meet more targetted consumers
and potential buyers (Sartori, Favretto and Ceschi, 2013). But first this is required to assess the
procedures of this funnel which is mentioned as below:
 In the initial step, idea is being generated r introduced by PPR for hiring and selection of
worker.
 Organisation can improve several different concepts and ideas for innovative goods and
services.
 The final idea selection is made on the basis of according environment. The final produced product is being implemented in the organisation for upcoming
development.
New Product Development Plan Generation of Idea: It is he first stage involved in process of new product development,
in this various sources can be use by company to develop ideas for implement innovation
at workplace. Professional Placement Resource is focusing over the new idea generation
as per the requirements of consumer and buyer's demands. Company can develop the
rewarding system for better recruitment. Screening of Idea: Presentation and Screening of rewarding idea is being conducted in
order to evaluate the opinions and reviews of people for assess limitation in the whole
plan (Teece, 2010). Under this, company examine the long-time benefits related with the
idea of innovation in order to select the best idea. Experiment and Development: This is the next phase in which testing of the new service
is being made after which the development of final product started. Company examine
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the new developed idea from every scale to determine that chosen idea support in
achieve overall objectives of business or not. Development of product: In this phase, the service is being developed for the final
outcome. Company use all its available resources and knowledge to development of new
product in order to achieve its business objective. Commercialisation: Professional Placement Resource will make optimisation numerous
different marketing and promotional tools for attracting sales and consumers. This is the
stage, in which company, do promotion of its innovation in order to make its target
customer aware and to generate more revenues.
 Launching: The program of service launch is being undertaken in this phase through the
help of promotional and marketing elements. In this company, launch its product in
market for offer featured services to its target customers and to satisfy their needs.
Thus, through using the above mentioned procedure in more organised and disciplined
manner, PPR can opt the opportunities as well as innovate their service and products in idea way.
The produced product would be more accurate and effective leaving an impact over consumer. It
is very essential that every step of above mentioned process should execute well at workplace.
With this, company can easily offer unique features to its customers and at the same time can
generate more revenues.
P6 Innovation Business case
PPR is using numerous techniques and methods of innovation for deploying the UK
business for which organisation has evaluated various expansion business case. In order to
emphasise of the base of clients, they have planned various techniques that is discussed here: Executive Summary: PPR is a recruitment and selection management organisation that
can help in meeting the final outcome in more significant manner. In order to develop and
sustain, they need to develop an effective plan for innovation. Need: As organisation have been enlisted as one of the best service providing SME,
company need to modify and develop new services and products for sustaining in the
competitive business market. Solution: For retaining and improving the clients or service user, the resected company
can expand their market through enlarging the use of promotion and marketing methods
that can help in increasing the business reach.
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 Market Evaluation: In order to understand the needs and requirements of consumer and
market, new product need design is being framed by PPR. The company need to enhance
the amount of budget which they spend over 20% work. Planning & Evolution: In this, development of planned activities or business plan is
being made. It is very essential for manager to identify all the resources require to
implement innovation at workplace in effective manner. Skills, technical resources,
financial resources and various resources are require to implement innovation at
workplace. Financial Requirement: Company arrange various types of services and products which
can help in meeting the demands of whole development. There are various financial
sources such as bank loan, friends loan etc. It is very important for company to have
adequate amount of funds otherwise it create unnecessary delays and increase cost of
business operations.
 Expected Benefits: After planning and budgeting procedure, the approximate feedback
and outcome is being determined and evaluated within the company which later is being
compared with actual outcome.
TASK 4
P7 Tools used to develop, retain and protect intellectual property and knowledge
Intellectual properly is a legislative framework which can be executed accurately through
experts. SME companies like Professional Placement Resource alter and improve their services
which they need to protect through claiming over Intellectual Property Rights of United
Kingdom. There are various elements which is needed to undertake for IP purpose such as brand
copyrights, trademark, patent, benchmark etc. The major benefit of this procedure is to protect,
retain and develop enterprise for safeguarding to organisation helping in libel and potential
buyers (Yin, Shi and Yan, 2014).
Role and Rights of Intellectual Property
In recent economy based scenario, production components return is less than their
knowledge of it. IP help in better profitability by rendering the proper insurance of knowledge.
To protect and safeguard from depriving of their own are and rights that facilitates some basic
rights by which the invention protection can be made that consist of patent, copyrights etc.
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Tools of IP
There are various tools which can help in protecting these rights and acts that is
mentioned as below: Trademark: This refer to the service introduction identity which is presented graphically
as well as an gestural recognition of service reliability of firm. Patent: It refer to accomplishment for assisting new instruments, products, process or
services usages (The Law of Recipes: Are Recipes Patentable?, 2012.). A company can
claim their patent of their invention and follow these within their workplace. Professional
placement practices can use this tool to secure its intellectual property. With this
company can get competitive benefits and can sustain in market for long run.
 Copyright: This helps in the safeguarding art and creation of an individual group or
community including painting, music, artistic creation etc. through registration and
claiming over it.
Thus, Professional Placement Resource can make use of appropriate IP tools for
safeguarding their inventions and innovations. This can help them in meeting the targeted
outcome along with better solution of their issues.
CONCLUSION
It can concluded from the above report innovation plays very wide role in the success
derive a paramount proportion that can help in development of new and existing products. In the
advance era of technology, various changes has occurred in the business organisation. The term
invention and innovation are closely interrelated with each other. It defines that
commercialisation and innovation is influenced from various elements and factors within the
organisation that shapes their basic formation. Also frugal innovation need to determine the
mindset to adapt the available development opportunities in order to focus over the innovation
value. There are various elements which is needed to undertaken for IP purpose such as brand
copyrights, trademark, patent, benchmark etc.
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REFERENCES
Books and Journals
Online
Innovation of small medium enterprises for sustainability. 2011. [Online]. Available through:
<https://www.slideshare.net/togar/innovation-of-small-medium-enterprises-for-
sustainability>.
The Law of Recipes: Are Recipes Patentable?. 2012. [Online]. Available
through:<http://www.ipwatchdog.com/2012/02/10/the-law-of-recipes-are-recipes-
patentable/id=22223/>
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