Innovation Commercialisation and Technology Management

The provided assignment details explore the concepts of innovation commercialization and technology management. It includes references to various academic papers and online resources that discuss topics such as patent assertion entities, research product commercialization, entrepreneurship, and eco-innovation. The assignment also touches upon the difference between invention and innovation, Samsung's latest inventions, and organization culture, among other related concepts.

Innovation and
Commercialisation

INTRODUCTION
All organizations are looking for the growth of business that helps to make higher profits
by enhancing business activities. Innovation consider as way of launching new products and
increase the sale of innovative products that leads to a successful organization. There is changes
is needed for companies that change their existing goods through perceptive the present situation
of demand and make efforts to fulfil existing marketing needs. Commercialization refers a
ongoing way of launching new or improved products in to market so customer can purchase new
products and increase sale of business. To know the importance of innovation and
commercialization Samsung has been selected that deals in electronic devices and transform new
thoughts and technology in order to attracts customers and increase sale of business industry.
Such report discusses about the importance of innovation, how leadership, vision, culture and
teamwork are shaping creation and development, 4p's of innovation and developments in frugal
invention. In addition report will discuss about essentiality of commercial funnel and innovation
business case that helps to achieve business objectives.
Task 1
P1
A process and procedure of converting fresh concepts and thoughts in to finished goods
and services that attracts people and emphasis to purchase new products is known and
innovation. The main aim of innovation is to germinate any new special products for the
purpose of adding value to customer's lives and customers pay amounts to get that particular
product. An organization must develop their ideas and thoughts that helps people to use new
products and increase their living standard. For example, Samsung is multinational company that
are providing electronic devices to customers. It inspires the world by innovating new products.
In starting, it introduced black and white television and keypad phones but after adopting new
technology and strategic skills it launches many new products by making changes in them for the
purpose of attracting people and gaining competitive advantages (Ahn, Minshall and Mortara,
2015).
Importance of innovation
 It is important to make creative development that attracts people in order to show
their interest in creative products and services.

 This is helpful in responding to competition and trends.
 It helps organization to get competitive advantages and make higher profits.
 It has a unique selling point that increase the number of customers.
 It is useful to reinforce the brand of any organization by making continuous
improvements.
Invention is a process of developing a working idea in order to improve product and
machine for the purpose of creating an object or result. It helps to introduce a newly commodity
which is not introduced by any other organization. For example, Alexander Graham Bell was
great Scottish engineer who has invented telephone in 1876 because of people were not able to
communicate with each other so telephone was invented at first time. The Samsung is planning
to send fireproof box and gloves that can protect customers returning potentially explosive
Galaxy Note 7 phones, it sparking a contention or firestorm that create a new invention for
people (Chun, Chung and Bang, 2015).
Importance of invention
 It is useful in professional development that creates a separate or unique device.
 It become a mentor for other people. It helps to extend the boundaries of human knowledge, experience or capability.
Difference between invention and innovation
Basis Innovation Invention
Meaning A clear way of improving an existing
product and services.
A way of introducing new products or
services at first time.
value To add value of already existing
products (Difference between
innovation and invention, 2019).
Creating of new product which has
not been came yet within market
segment.
Skills required Marketing, technology and strategic
skills are needed.
To make invention scientific skills are
needed.
Occurs It occurs when there is need to make
improvements in existing product.
It occurs when new ideas generated in
the mind of scientist.
Samsung's scenario that states how this concept has generated and when:

Samsung formed a process of New Concept Development (NCD) in which every
enterprise units are implemented and execute new products. Its members and employees puts a
lot of efforts in innovation. They established a team on 1st September 2006, and the first PIT
office started in Silicon Valley, California in the year of 2007. They have completed their
innovation in four steps such as they understand what trends are increasing in the world, to think
and design new ideas, to develop the concept and build business strategy and at the final stage
PIT works with business units to finalize the product concept based on market and customer
requirements. The main purpose of PIT to concentrate on production development and solution
concept concept by using customer perceptibility. Therefore, such organization has implemented
the innovation process effectively that helps to get competitive advantages. With the help of this
process Samsung has launched unique products with different features that are attracting people
and increasing sale of organization (Latest invention for Samsung, 2019).
P2
The success of any organization is based on organizational vision, culture, leadership and
team spirit of employees that helps to understand the challenges and manage them effectively.
Every organization has a dream to beat the competition and sustain in business environment for
long term. This is essential for organization to focus on vision, culture, leadership and teamwork
that can shape innovation and commercialisation effectively (Fuertes-Callen and Cuéllar-
Fernández, 2014). Samsung is focusing on such factors for the purpose of contributing towards
innovation and commercialization such as:
Vision: This means goals and aim of organization that helps to sustain in competitive
environment. Companies should have their clear vision and strategy that helps to achieve
business goals. Such as Samsung electronics growing continuously at globally by using
information technology and also managing the more than 200 subsidiaries across world.
Samsung has long term vision that is “inspire the world, create the future”. The management of
such organization maintain the profitable technology business operations that contributes in
innovation and commercialization (Vision of Samsung, 2019).
Leadership: It is an art of attracting and motivating the people towards achieving
common business goals. It helps to sharing thoughts and guiding people that is shaping
innovation and commercialisation. For instance, Samsung is following democratic leadership
style that helps to decide to launch a new products or innovation with the helps of employees. It

distribute responsibility between employees and members that helps to make right business
decisions. This democratic leadership style can shape innovation and commercialisation by
giving job satisfaction to employees and solving organization problems by sharing with
superiors.
Culture: This means organization has certain beliefs, values and policies that
differentiate from others. Organization culture is the important for all businesses as it helps to
decide the way in which employees interact with themselves and other parties. Samsung
electronics also following a effective organization culture that can shape innovation and
commercialisation efficiently. Organization culture are defined by Handy Charles that are as
explained:
Power: This culture states that organization where power remains in the hands of only
some people who can make decisions accordingly. Here, employees has to follow employer's
instructions and not allow to share their ideas openly (Organization culture, 2019).
Task: When team are formed by organization for the purpose of solving problems and
attaining targets is consider as task culture. Such culture states each team member need to
contribute equally and accomplish task efficiently.
Role: This culture includes roles and responsibilities of employees which are delegated
according to specialization, qualification, interest and education that helps to accept challenges
properly.
Person: In business environment there are some companies where employees feels that
they are important than business entity is known as person culture. In this culture employees only
focus on themselves rather than organizational needs and they works only for the shake of
money.
Samsung is adopting role culture in which roles and responsibility of each employees are
delegated according to their qualification, interest and technical skills. This culture encourage
every employees and managers to take initiative willingly to innovative products and services
that can shape innovation and commercialization. To introduce new products management has
delegate roles and responsibilities among employees that helps to achieve goals by shaping
innovation (Hang Do and et. al., 2014).

Team work: It can understand as collaborative efforts of a group in order to achieve
common goals and to complete a assigned task in efficient way. Samsung has followed Bruce
Tuck man theory for the purpose of team development that are as explained:
Forming: In this stage, Samsung's employees are depend on their leader who guides
them and give direction for new innovation and goals of organization.
Storming: In this phases, the team member of Samsung focused on its goals to avoiding
distractions like relationships and emotional issues that helps to shaping innovation and
mercantile.
Norming: Team member of Samsung understand their roles and responsibility clearly
with the help of leader and they also engage in fun and social activity that helps to complete the
task within stipulated time.
Performing: The team of Samsung is more strategic that knows clearly that what they
are doing and why in order to attain business goals effectively. It helps to maintain relationship
leaders and team towards achieving common goals.
Therefore, every team member of Samsung electronics are more innovative towards their
work and encouraged by leaders that shaping innovation and commercialization efficiently. They
are operating business with proper guidance and allocation of sources which is needed to
manufacture new products and services and make efforts to implement such idea.
Task 2
P3
Innovation consider as a tool for business enterprise that attracts people by introducing a
new product and services. 4P's of innovation introduced by John Bessant and Joe Tidd. This tool
is adopted by Samsung electronics that helps to discover how innovation process can improve an
existing business. The process of innovation for Samsung electronics is defined as:
Paradigm: This factor is mainly used to improve the business by making changes within
existing product. Samsung electronics focus on such strategy and planning to introduce
innovative products by making changes in existing product.
Product: This step states that how an organization improve their product and services
with the help of innovation. Samsung has produced a new product that is Samsung Galaxy S10
which is more attractive and unique.

Process: It states that how an organization create the offer for innovative product and
services. Samsung includes manufacturing and distribution process such as it hires people with
marketing skills which attract people and encourage to buy such new product.
Position: This step is used to target the offering area for particular product and services.
Samsung focus on new market segment by targeting the individuals based on all ages of people
and by serving more than 200 countries (Hemphill, 2014).
Innovation funnel: This means funnel management process which is utilized by many
companies for the purpose of creating an innovative and real action plan. The main aim of
business organization is to manufacture such type of products that can satisfy needs and wants of
targeted customers. By satisfying the customers company can achieve value from them that can
be consider as profit for organization (Innovation Funnel, 2016). Samsung is using innovation
funnel process for the purpose of upgrading its product offering that are as explained:
Illustration 1: Innovation funnel, 2016
Source: Innovation funnel, 2016
Investigation: Organization should analysis the competitor in similar market with similar
products or different products before entering in to a market that helps to understand which
products are in trend. Samsung also need to do a research to know competitors and demand of its
goods in market.
Development: After analysing the market condition company manufacture products and
services according to market demand. Samsung is following this phase by manufacturing
Samsung Galaxy S10 with unique design according to the customer demand of target market.

Shipping products: The next process is shipping the products which should be done
after introducing the products and designing process. The management of Samsung electronics
focus on the shipment process that involves transport system and home delivery etc. It helps
company to save products from unnecessary damages.
Therefore, by applying innovation funnel process Samsung can launch its innovative
products that is Samsung Galaxy S10 and get competitive advantages effectively (Ismail, Nor
and Sidek, 2015).
P4
Frugal innovation: An engineering procedure which can be used by business enterprises
to reduce the complexity and cost of a goods or production. Basically this process is used to
remove the non important features from goods which are durable and are selling in developing
countries (Frugal innovation, 2016). It is suitable and applicable for Samsung electronics as well
as other organization such as:
Illustration 2: Frugal innovation, 2016
Source: Frugal innovation, 2016
Application of Frugal innovation by using Samsung example

Frugal process is adopted by Samsung management for the purpose of reducing the
unnecessary cost from manufacturing cost. It accepts design cost, features like high screen,
fingerprint sensor, wireless power Share perk etc. and ignore the useless features that is
beneficial to reduce the cost of production such products. Therefore, it is helpful process for
Samsung that can reduce the cost of smart mobile phone by decreasing unwanted cost of
designing and development of product (Rass and et.al., 2013).
Effectiveness of Frugal innovation
This is effective process that ignores the unnecessary cost of products and customers get
desire products like Samsung Galaxy S10 within cost effective prices and they purchases such
type of products. Moreover, it increases the capital efficiency, product development efficiency,
eliminating non value adding features etc. (Maritz and Donovan, 2015).
Task 3 (Covered in PPT)
P5
P6
Task 4
P7
Tools are important for business entity to protect the ideas, intellectual property and
techniques of company (Park and Jeong, 2013). Herein, different services which can be used by
company to protect the company privacy that are given below:
Patent: This means company can protect the new invention, features, design and other
confidential things of company which can harm organization. Samsung can use this services after
getting the patent of its electronic items, home appliance etc. By using patent no one can copy of
its products which differentiate from others (Pfeffermann, Minshall and Mortara eds., 2013).
Trademark: It is used by companies to differentiate the products or goods of
organization from its competitors. It is a brand name that make different from other by involving
word, name, symbol, device or logo.
Samsung need to follow some legal requirements before adopting any service or tool that
helps to prevent knowledge, intellectual property etc. Therefore, management of Samsung is

following legal requirements in order to select best option (Polzin, von Flotow and Klerkx,
2016).
CONCLUSION
From this report it has been concluded that innovation is important for all organization
that attracts customers more and increase the sale. Commercialization refers sale of products and
services which is manufactured by organization. Leadership style helps to motivate people and
supports them to accept the challenges. Organization culture helps to attracts employees for
achieving common goals. Organization should focus on legal requirement for the purpose of
protecting intellectual property and knowledge.

REFERENCE
Books and journal
Abdul Razak, A., Murray, P. A. and Roberts, D., 2014. Open innovation in universities: The
relationship between innovation and commercialisation. Knowledge and Process
Management. 21(4). pp.260-269.
Ahn, J. M., Minshall, T. and Mortara, L., 2015. Open innovation: a new classification and its
impact on firm performance in innovative SMEs. Journal of Innovation
Management. 3(2). pp.p33-54.
Chun, D., Chung, Y. and Bang, S., 2015. Impact of firm size and industry type on R&D
efficiency throughout innovation and commercialisation stages: evidence from Korean
manufacturing firms. Technology Analysis & Strategic Management. 27(8). pp.895-909.
Fuertes-Callen, Y. and Cuéllar-Fernández, B., 2014. What is the role of commercialisation and
reputation in product innovation success?. Innovation. 16(1). pp.96-105.
Hang Do, T., and et. al., 2014. Predicting anticipated rent from innovation commercialisation in
SMEs. European Journal of Innovation Management. 17(2). pp.183-208.
Hemphill, T. A., 2014. Patent assertion entities: do they impede innovation and technology
commercialisation?. Technology Analysis & Strategic Management. 26(7). pp.717-731.
Ismail, N., Nor, M. J. M. and Sidek, S., 2015. A framework for a successful research products
commercialisation: A case of Malaysian academic researchers. Procedia-Social and
Behavioral Sciences. 195. pp.283-292.
Maritz, A. and Donovan, J., 2015. Entrepreneurship and innovation: Setting an agenda for
greater discipline contextualisation. Education+ Training. 57(1). pp.74-87.
Park, J. and Jeong, C., 2013. Financing the Commercialisation of Green Innovation. STI Policy
Review. 4(1). pp.94-118.
Pfeffermann, N., Minshall, T. and Mortara, L. eds., 2013. Strategy and communication for
innovation. Springer.
Polzin, F., von Flotow, P. and Klerkx, L., 2016. Addressing barriers to eco-innovation: Exploring
the finance mobilisation functions of institutional innovation
intermediaries. Technological Forecasting and Social Change. 103. pp.34-46.
Rass, M. and et.al., 2013. Open innovation and firm performance: the mediating role of social
capital. Creativity and innovation management. 22(2). pp.177-194.
Online
Difference between innovation and invention. 2019. [Online]. Available through:
<https://keydifferences.com/difference-between-invention-and-innovation.html>
Latest invention for Samsung. 2019. [Online]. Available through:
<https://www.reuters.com/article/us-samsung-elec-smartphone/samsungs-latest-
invention-a-fireproof-box-for-note-7-returns-idUSKCN12C22U>
Vision of Samsung. 2019. [Online]. Available through:
<https://www.samsung.com/uk/aboutsamsung.html/aboutsamsung/>

Organization culture. 2019. [Online]. Available through:
<https://www.managementstudyguide.com/charles-handy-model.htm>
Innovation Funnel. 2016. [Online]. Available through:
<https://www.ifm.eng.cam.ac.uk/research/dstools/innovation-funnel/>
Frugal innovation. 2016. [Online]. Available through:
<https://rightpeoplegroup.com/frugal-innovation/>
New product development process. 2019. [Online]. Available through:
<https://viennaadvantage.com/blog/business-hacks/how-to-develop-a-new-product-in-5-
steps/>