Innovation and Commercialisation in F-Drone

This assignment focuses on the importance of innovation and commercialisation in F-Drone, a top drone manufacturing company. It discusses the sources of innovation, the role of leadership, vision, teamwork, and culture in shaping innovation and commercialisation. It also explores the usage and significance of the innovation funnel and the development of frugal innovation in the organizational context.

INNOVATION AND
COMMERCIALISATION

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
Importance of innovation in context of chosen company as compare to invention....................3
Leadership, vision, teamwork and culture shape innovation and commercialization.................4
Different sources of innovation and ways company used to foster & develop culture of
innovation....................................................................................................................................5
Usage and significance of innovation funnel to shape innovative ideas.....................................6
Development of frugal innovation and its use in organizational context....................................8
PART 2............................................................................................................................................9
Importance of commercial funnel and stages of NPD................................................................9
Development of innovation business case for F-Drone including ways to access funding......10
Nature of innovation, its development and ways that firm used to overcome challenges........12
Methods used by an organisation in order to protect its intellectual property..........................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Innovation & commercialization are two important elements that most of the companies
used to grow its venture and get success within chosen marketplace or sector. Innovation may
define as process of creating & developing new thing that gain attention of many people. While
commercialization describe as procedure of organizing and managing an innovation or any
invention that help to gain profits. The current assignment will be based on F-Drone, which falls
under list of top drone manufacturing companies in the U.S. This study will explain innovation
concept and its importance for company in comparison with invention. It will define ways
through which leadership, vision, organizational culture and teamwork shape commercialization
& innovation. Furthermore, this assignment will describe source of innovation, process of
developing creative culture and use of innovation funnel. It will justify the application of new
product development and usefulness of commercial funnel. This report will clarify innovation
business case, ways to access funding and several tools that chosen firm used to retain, develop
and protect knowledge as well as intellectual property.
PART 1
Importance of innovation in context of chosen company as compare to invention
Innovation is usually defined as procedure of carrying out of new combinations that
consist introduction of new products (Leckel, Veilleux and Dana, 2020). It just not represent by
manufacturing or introducing new methods, it may describe as act that includes different
activities & actions conduct to uncover creative ways in context of specific thing. In simple
word, it can be anything in a new form that people like the most in marketplace. Innovation can
be considered as a new product, a manufacturing process that saves time and a lot of assets or
even just a small. It provides many benefits to organizations like F-Drones in recent time.
Importance of innovation-
The above term is really very important for chosen company in term of making its brand
more popular in market and increasing its business position against to other firms. It is essential
because innovation develop bigger opportunities, which management grab to grow its venture
even better than last few months or years (Brito and Zapata, 2020). It is significant for excellent
success and growth of F-Drones as it help to create actual concept that target market prefer to
purchase. It is vital on the basis of varied things, for example innovation contribute maximizing

customer base and their satisfactory level, which is really very important to increase for chosen
firm. It makes company able to deliver products and provide its services to offshore platforms
and ships as well.
Comparison between innovation and invention-
Innovation Invention
 This element as compare to invention is
quite beneficial and important for F-
Drones company as it help to provide
satisfactory services and products to
consumers.
 It is less time-consuming act.
 Innovation occurs when existing things
need improvement which make
important contribution in context of
gaining competitive edge.
 While invention may fail to satisfy
people when it does not invent and
present according to needs and demand
of target segment.
 On the other hand, invention process
consume a lot of time.
 On the other side, invention can be
described as creation of goods and its
introduction in market first time, which
may individual buyer does not like.
Leadership, vision, teamwork and culture shape innovation and commercialization
There are varied forms of elements are accessible in the business world that may use to
shape innovation as well as commercialization in effective & systematic manner (Bannay, Hadi
and Amanah, 2020).
Organizational vision-
The vision describe aspiration or desire of an organization that relate to current and future
growth of venture. For instance, F-Drones private limited company vision is to be a leader of
heavy payload drone logistics across sectors in 5 years. This statement drive workers and entire
management to develop new idea and innovate something new by adding valuable things or
features. It helps shape innovation and commercialization in form of increasing profits after
selling heavy payload drones.
Leadership-
It is another useful component that F-Drone used to shape commercialization and
innovation in effective manner. It enables leaders to lead a team of skilled applicants who

contribute in process of manufacturing new drone by sharing ideas, opinions and providing
suggestions that are valuable (Albort-Morant and et.al., 2020). Guidance and directions provide
by leader also play vital role in above context as it encourage and motivate individual worker to
give his or her contribution in regard to manufacture new heavy payload drone.
Organizational culture-
Culture within companies defines that in what manner services will be provided and
products would manufacture in form of innovation which in return increase sales level in term of
commercialization (Franken and et.al., 2020). Supportive, productive and positive culture at
workplace motivate employees to be creative and innovative as it helps to shape
commercialization and innovation that is important for F-Drone firm. The organizational culture
may be shaped by values or beliefs that encourage applicants to innovate new product.
Team work-
Like above elements, team work also support in process of shaping innovation and
commercialization by working together and conducting collaborative practices which in return
enhance productivity and profitability of firm. Effective team play vital role in procedure to
manufacturing heavy payload drones by performing together and sharing creative ideas with
team members, which enable each of them to make contribution at similar level in context of
producing above discuss item.
All above factors contribute in shaping innovation and commercialization in term of
directing workers and guiding to focus on creation of innovative ideas by conducting group
activities.
Different sources of innovation and ways company used to foster & develop culture of
innovation
7 source of innovation-
Unexpected- the above discuss concept take place within company unexpectedly as it
can happen by chance.
Congruity- In an effort to gain competitive edge and overcome competitive challenges,
company may innovate.
Market and industry changes- change relate to industry regulations and market needs,
drive management towards innovation in term of developing new drones.

Demographics- these form of changes occur in income levels, populations and human
capital which enable firm to innovate something new.
Necessity- it is another source of innovation which firm may use to fulfil requirements of
its business in term of growth and success.
Perception change- changing perception regarding products or services can also give
opportunity to company to innovate and be innovative for longer.
New knowledge- Nano technology is an appropriate example of new knowledge that
company use to innovate a new car. New knowledge and learning always drive mind of
individual towards developing creative things.
F-drones can foster culture and develop environment of innovation by providing training
to existing and new employees which in return enhance his or her knowledge and develop new
skills.
Usage and significance of innovation funnel to shape innovative ideas
4 Ps of innovation-
Paradigm- this element of innovation is considered as plan process by which F-Drones
company creates new ideas in form of innovation.
Product- it exhibited that how firm make its drones better by utilizing creative methods
and innovation approaches.

Process- with this component firm focus on supply chain operation to receive appropriate
raw materials or tools that management use to manufacture heavy payload drones.
Position- by using advanced digital marketing technologies and influencing platforms,
chosen company set the image or position of its new product in market where profitable buyers
are accessible.
Importance-
Innovation funnel refer to funnel management procedure which is one of the most
effective approaches use in context of innovation. It is quite essential for F-drones company as it
help to create a realistic and innovative action plan that shape creative idea of firm such as
development of heavy payload drones (Hossain, 2020).
Organization may use this concept in effective manner to shape its innovation idea by
following six stages of this method that are mention below-
Ideas creation-
Illustration 1: 4Ps of innovation
(Source: Innovation space 4ps, 2019)

Firm shape innovative idea by creating it systematically at initial stage. Management by
conducting group meetings and sharing ideas as well as opinion conduct process of innovation.
Idea management-
The most important step that administration may take towards shaping their innovative
ideas is current one, which successfully done by using effective approaches or methods. It
includes examination and selection of new idea.
Development of innovation-
After selecting profitable innovative idea, it's time to move at third phase where
development of chosen concept begin and transform into new heavy payload drones.
Protection & exploitation of results-
Illustration 2: Innovation funnel
(Source: Stages of Innovation Funnel Management, 2021)

Management protect and exploit outcomes of innovation practices by using the best
method of protection and following appropriate mechanisms. For effective innovation, outcomes
need to be introduced in form of new product in market.
Market introduction-
The whole process of innovation is shaped by developing effective promotion and
advertising plan.
Outcomes-
All above attempts and stages provide final outcome to F-Drones in term of obtaining its
desire results such as be a leader in market by introducing first heavy payload drones in the
world.
Application of innovation funnel in company context-
The above discuss concept, in regard to F-Drones private limited organization may apply
by using all the phases, which in return make firm able to manufacture the best drones.
Development of frugal innovation and its use in organizational context
Frugal innovation is commercialization, in regard to quality goods, limited assets and also
in context of quality services that are available to all. F-drones company use this approach or
procedure by removing unnecessary things and reducing complexities, which enable
management to create high quality goods with accessible resources (Iqbal, Ahmad and Li, 2021).
With this process, organization may focus on important things such as quality of drone,
raw materials and identify non-essential features or elements that consume time and money as
well. Firm use frugal innovation by applying core components of this concept such as substantial
cost reduction, focus on main functionalities and optimize performance extent. It helps in form of
driving attention of production department towards manufacture new drone by using existing
elements. It assists increasing profitability, productivity and quality of item. Frugal innovation is
quite beneficial for F-Drones as it help to make product portfolio of company even better than
other brands and attractive as well because no one in market introduce heavy payload drone like
chosen firm does. Enage and iterate, flex assets, develop sustainable solutions, co-creative with
prosumers, make innovative trends and shape consumer behaviour are all included in list of
principles of furgal innovation . Varied examples are accessible in context of frugal innovation,
such as Tata Nano car and haier washing machine mini magical child.

The use of above term is really very important in company as it help to increase
operational efficiency and make effective usage of removal of unnecessary thing that saves time
and enables company to manufacture final product with attractive features. There are different
examples accessible in the business world relate to frugal innovation usage. For example, Tim
Boucarle and James Butterfield marks all the elements of current concept in order to reduce
difficulties of investment chances for practitioners.
Role of frugal innovation in F-Drone company-
The most essential role this term play within chosen company is to increase its
operational effectiveness by adding valuable features and reducing non-essential components. It
also helps to maximize profits margin and customer base (Bannerman, 2020). Frugal innovation
play vital role in term of saving time and efforts.
Critical analysis based on development, embed and measure in regard to innovation in F-Drone
From above discussion, it can be critically analysed that innovation at workplace is
developed and emerge through different forces such as teamwork, use of effective leadership etc.
Furthermore, it measured by using appropriate approaches. The success of innovation is
measured by determining gap between previous and current profits margin. The development
provide benefits in above term, but bring challenges in term of increasing work pressure on
applicants to perform productively without making any mistake.
PART 2
Importance of commercial funnel and stages of NPD
Commercial funnel is process used to identify potential customers and increase sales
profit of a business. It influences the journey of a costumer from identification of products till its
purchase decision.

This method is also known as sales or revenue funnel. The funnel provide information
about the potential costumer this is how an organization can relate with customers need and
requirement. This technique helps to generate more profit and sales rate. Also, the company
easily identify the drawbacks that assert potential customer to buy product from other place. In
context with f-drone the firm will be able to detect and identity the problems with the drones that
influence costumers decision-making.
New product development (NPD)
NDP is a process used in the development of the new products. This process helps in
analysing customer preferences and provide advantage in marketplace. It provide more value to
customer satisfaction and ensures the growth of the firm. In context with f-drone who wants to
build a new unique design drone, and by applying all the stages of NPD, company is able to
implement the product within market. These stages are mentioned below:
New product strategy: This refers to defining clear goals and objectives for development
of new product. F-drone already have such goal to build world's first transition aircraft that will
provide delivery to off-shore areas with heavy pay-loads.
Idea generation: This is the second step which includes generation of new ideas to
achieve the specific goals. In context with the firm it will illustrate various techniques such as
market research, swot analysis, customer behaviour etc. and on the basis of such it will generate
ideas to develop unique drones.
Illustration 3: Sales funnel
(Source: Sales Funnel, 2020)

Screening: In this stage, f-drone evaluate the best ideas out of many by considering the
best one.
Concept testing: This includes selecting the best idea or technique for product
development. Here f-drone will plan the process, strategies, techniques and methods for the
development of the unique aircraft based on market research.
Business analysis: This stage consists of analysing the resources and material available
for the development of new product. F-drone will examine the budget for the production. It will
also analysis the resources such as batteries, sensors, aluminium, thermoplastic and number of
labour etc. need for production.
Product development: In this process the whole idea and concept undergo into
manufacturing process. The production and manufacturing department of f-drone will visualize
the development process of the drone and will use the technique of standardization and
specialization to develop the drone.
Market testing: This stage includes taking feedback from potential customers, online
market test this includes various tools such as google trends, google keyboard planner, google
insight etc. such can be helpful to identify the product. It also includes analysing competitive
marketplace and product.
Commercialization: This is the process when product is ready for launch. Thus to favour
the same, company has to define the time and place in order to launch the same into the market.
Evaluation: The last step consists of monitoring the progress of new offered product
and evaluating, analysing the profit with the set goals. In context with the firm, f-drone will set a
bench mark to measure the profit of the products. At last, it will analysis the profitability of the
past 2 years to evaluate the success of the product.
Development of innovation business case for F-Drone including ways to access funding
Executive summary-
F-Drones need to be market leader and build strong brand image in market by accepting
and implementing innovation concept within firm which enables workers to introduce new
drone. It wants to produce the first heavy payload drones that help to delivery heavyweight
products or other things to offshore platforms.
Mission-

The mission of chosen firm is to reach at international level by selling the best drones all
over the world which in return increase its customer base.
Vision-
The vision of F-drone Company is to become a global market leader that manufacture
and produce top quality drones.
Need for innovation-
The current innovation of company is heavy payload drone for which the overall business
innovation case is developed. It needs to manufacture for specific reason and that is to satisfy
target market needs.
Opportunities in market for new drones-
The above discuss innovative product of F-Drones company has excellent growth and
success opportunity in market where many firms seek to use advance technology for loading
heavy items from workplace to ships.
Competitive advantages-
The threat of substitute products or services is low which create a competitive advantage
for F-Drone which management get by manufacturing unique drones that no one could
manufacture.
Market chances-
Possibilities of innovation success and business growth is higher and features of new
drone is totally different from existing one. As it provide great opportunity to firm in context of
excellent success.
Target segment-
The target market is segmented into commercial and defense. Defense industry is
expected to grow at high CAGR while forecast duration from 2020 to 2025
Marketing tactic-
The best marketing strategy firm will use to promote its new product in market is social
media accounts development.
Need-
F-Drones need to introduce new drones because it wants to leader of innovative and
unique heavy payload drones.
Ways of findings-

The revenue of F-Drones Firm come from launch of new product which require fix
amount. Company get funds or money by using appropriate ways of funding that are:-
Bank loans-
It is one of the most common and easiest form of funding that organization use to
manufacture unique item which enable them to generate revenue. According to this approach,
firm by applying for specific amount of loan collect fund.
Angel investors-
It may define as group of people who are able to invest and provide require money on the
basis of terms and conditions to other companies. F-Drones will use this form for funding
purpose as it enable them to achieve set aims.
Crow funding-
It is another source of funding which firm may consider in context of raising money from
investors.
Business angles-
They are group of people or individual person who are interested in profitable project and
invest in so to earn more benefits in term of money.
Budget-
Particulars Amount (£)
Production expenses 900
Collecting resources 700
Salaries of employees 350
Conduct Market research 300
Marketing 500
Selling 860
Total 3610
Nature of innovation, its development and ways that firm used to overcome challenges
The nature of innovation is based on development of something new in form of tangible
or intangible things.
Selected organization can overcome challenges to develop successful innovations by
using above define ways that fulfil funding relate needs to its business. It provides benefits in

term of providing key resource that firm used to manufacture new drone, on the other hand it
may affect in negative manner in term of taking too much time to receive appropriate amount.
Methods used by an organisation in order to protect its intellectual property
Intellectual property: It is a concept of claiming protection over human intellects. These
include intangible assets such as ideas, thoughts, artistic work designs etc. Overall, it is a process
of seeking property rights over valuable ideas and thoughts (Tran and et.al., 2020). There are
various types of intellectual property, some of them are as mentioned below:
Copyright : it refers to legal rights of the owner to make copies of its creation or work. It
is an exclusive right demanded by the original creator to reproduce its work. This includes
books, films, paintings, maps, music etc. it modern era it also protects software and architecture.
Advantages
 Copyright provides the legal right to secure the original work and allow making various
copies of it. This method not only provide legal protection to produce and reproduce the work but also
provide the authority to broadcast the work publicly. It provides protection of owner's
work from being stolen or misused (Cheng and Yuan, 2020).
Disadvantages
 The process protects the expression of idea but not the idea itself.
 Copyrights is costly and time-consuming process. It is difficult to protect useful product
using this intellectual property.
Patents : this endeavour legal rights for inventors. It is a process of seeking right over an
invention or a discovery made by an individual or an organisation. Such that F-drone wants to
build world's first transition drone which will provide delivery with heavy payloads to off-shore
area. Thus, to protect its unique design patent as an intellectual property will be beneficial.
Advantages:
 Patent gives right to stop others from copying, producing, selling and importing a
particular invention. It allows one-self to use its invention for its own. One can license or sell its patent. This
indeed will provide a business or an individual a source of revenue.
Disadvantages
 The technical information about the patent is made public.

 Applying for a patent is a time-consuming process. It is a costly process and lasts only 20
years it charges patent attorney fees and annual fees.
Trade secret: This refers to maintaining secrecy about a technique, information or a
process. In context with f-drone it needs to keep the process of development information of
unique design of a drone as a secret.
Advantages
 Unlike a patent it does not have a time duration for the protection. This process do not require a disclosure or a registration. It is less time-consuming and
have immediate effects.
Disadvantage
 Trade secret is not registered, examined or approved by the government.
 The company itself has to keep it a secret.
Trademark: This refers to seek protection rights over sign, symbols, designs, logo
representing products or an organisation (Vieira and Claro, 2020). F-drone can use trademark to
protect logo or symbol mentioned on its drones.
Advantages
 This secure originality of company's product and build trust and helps to establish
customers good will. It differentiates company's products from other local products and helps costumers to
recognize products quality.
Disadvantages
 This intellectual property only protects the sign, symbol, design for 10 years.
 It charges registration fee and renewal fee every 10 years.
CONCLUSION
By summing up above discussion, it has been concluded that innovation is quite
beneficial for F-Drones as compare to invention. By using this concept, company has gained a
lot of benefits in term of generating revenue and increasing profits margin. From above analysis,
it has been identified that leaders by providing appropriate guidance and directions to all the staff
members has successfully shaped innovation as well as commercialization in term of maximizing
profitability. Furthermore, it has been analysed that use of frugal innovation and commercial
funnel has enhanced the competence of firm. By following each step of new product

development process, F-Drone has manufactured the most innovative and creative drone which
is much better than previous one. By using patent, copy right and other IP tools firm has
protected its innovative idea from rivals that has been operated in similar sector.

REFERENCES
Books and journals
Albort-Morant, G. and et.al., 2020. How does positive work-related stress affect the degree of
innovation development?. International journal of environmental research and public
health, 17(2), p.520.
Bannay, D.F., Hadi, M.J. and Amanah, A.A., 2020. The impact of inclusive leadership behaviors
on innovative workplace behavior with an emphasis on the mediating role of work
engagement. Problems and Perspectives in Management, 18(3), p.479.
Bannerman, S., 2020. The World Intellectual Property Organization and the sustainable
development agenda. Futures, 122, p.102586.
Brito, A.E.P. and Zapata, M.I.B., 2020. Innovation and its Importance for Competitiveness in
Mexico. Business, Management and Economics Research, 6(11), pp.161-165.
Cheng, L. and Yuan, Y., 2020. Intellectual Property Tools in Safeguarding Intangible Cultural
Heritage: A Chinese Perspective. International Journal for the Semiotics of Law-Revue
internationale de Sémiotique juridique, pp.1-14.
Franken, R. and et.al., 2020. Ranking of human risk assessment models for manufactured
nanomaterials along the Cooper stage-gate innovation funnel using stakeholder
criteria. NanoImpact, 17, p.100191.
Hossain, M., 2020. Frugal innovation: Conception, development, diffusion, and
outcome. Journal of Cleaner Production, 262, p.121456.
Iqbal, Q., Ahmad, N.H. and Li, Z., 2021. Frugal-based innovation model for sustainable
development: technological and market turbulence. Leadership & Organization
Development Journal.
Leckel, A., Veilleux, S. and Dana, L.P., 2020. Local open innovation: a means for public policy
to increase collaboration for innovation in SMEs. Technological Forecasting and Social
Change, 153, p.119891.
Tran, H.D. and et.al., 2020, July. NNV: The neural network verification tool for deep neural
networks and learning-enabled cyber-physical systems. In International Conference on
Computer Aided Verification(pp. 3-17). Springer, Cham.
Vieira, V.A. and Claro, D.P., 2020. Sales prospecting framework: Marketing team, salesperson
competence, and sales structure. BAR-Brazilian Administration Review, 17(4).
Online
Innovation Space 4Ps. 2019. [ONLINE]. Available through:
<https://innovationmanagement4.wordpress.com/innovation-space-4ps/what-is-
innovation-space-4ps/>
Phases of Innovation Funnel. 2021. [ONLINE]. Available
through:<https://www.innoedge.com.hk/innovation-funnel-management/>.

Sales funnel. [ONLINE]. 2020. Available Through: <https://www.mailmunch.com/blog/sales-
funnel/>