Innovation and Commercialization Report - Birchbox
Added on 2020-07-23
14 Pages3611 Words44 Views
Leadership Management
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Innovation and Commercialisation
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Innovation and its importance for the employees...................................................................3P2 Shaping of innovation and commercialization by organizational factors...............................4TASK 2............................................................................................................................................5P3 4P’s of Innovation and innovation funnel...............................................................................5P4 How can Birchbox develop frugal innovation........................................................................7TASK 3............................................................................................................................................9P5 Importance of commercial funnel and Application of NPD...................................................9P6 Innovative business case of Birchbox.....................................................................................9TASK 4..........................................................................................................................................10P7 Different tools Birchbox can use..........................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONInnovation can be termed as a process of inventing something new that may provebeneficial for the company whereas Commercialization is considered as a process which helps inthe transformation of the concepts and the inventions in order to achieve a great amount ofwealth and success for the employees and organizations as well (Wonglimpiyarat, 2010). Boththese processes help in bringing the concepts and ideas in the market and it can further lead tovarious good changes in various factors of the business such as the productivity, sales, marketingetc. The report is about involvement of innovation and commercialization in Birchbox and thecomparison of the results from the Apple and the Virgin group.TASK 1P1 Innovation and its importance for the employeesInnovation is that part which is important for any business to stay competitive. Birchboxalso focuses on the same tool because it is a great way to impress and attract customers throughsome creative and innovative ideas. Birchbox has a policy that it involves various new ideas intheir process and products which are sufficient to attract any customer. The organization oftensends the box containing make up essentials and beauty products to their customers. It is a betterway to make customers happy and by these small means, they also consider that their work isbeing appreciated which helps in maintaining the focus of the customer on the company. As incase of Apple, they focused on developing a music player that can hold a large number of songsbut consume a small disk space. Although there are a wide number of music players across theworld but Apple focused on something innovative by developing a music player that can hold agreat amount of songs in less possible space (Love, Roper and Bryson, 2011). This factor of Apple made it such successful that for about a great number of people havepurchased iPods because everyone wants to have a big collection but the problem of occupyinghuge space makes it unable to do so (Kianto, 2011). But Apple made it possible through theirinnovative and creative ideas. Along with the general beauty essentials, Birchbox included arange of organic products as well which increased their popularity even more. As it is beneficialfor the customers, it is equally beneficial for the employees of Birchbox as well as it helps them
gaining a great amount of customers coming for organic as well as non organic range. The sameway Virgin group was a simple publishing venture but the creativity and aggressiveness ofBranson, founder of the Virgin group, made it possible to grown into a big investment firm. Nowthe firm has developed into a group of small sub divisions such as Virgin money, Virgin rail,Virgin entertainment etc. So, the creative ideas and vision can help the organization in achievingsuccess at faster rates. Like in the case of Birchbox, after the idea of involving organic range aswell, they gained more customers, thus more success as well for their company. It helped thecompany in gaining a huge number of happy customers who are happy with the new range and itis also beneficial for those who face from any skin issues and use only organic products.P2 Shaping of innovation and commercialization by organizational factorsThere are various organizational factors which affect the commercialization and innovation of an organization. The same way, it is describe below that how organizational factorssuch as vision, leadership, teamwork and cultured have affected the innovation of Birchbox :Team work: Team work can bring efficient results for Birchbox. As the company focuseson marketing beauty essentials and decided to involve organic range as well, different smallteams can be allotted for the well management of the process. One team can interact with thecustomers that what products they require more in the organic range. The second group can focuson developing these products by using a good range of the ingredients. Other group cancontinuous ask for feedbacks from the customers. By working in small teams, Birchbox can beable to achieve success more fast and thus, also in gaining a large number of customers. This isthe power of teamwork that can help Birchbox in satisfying a number of customers (Adam,2014).Leadership: Leadership skills are essential in managing and controlling all the processes of the company. As in Birchbox, the leader control all the responsibilities of keeping a check on employees, motivating them and taking continuous feedbacks from the customers as well so that
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