Innovation and Its Importance to Employees of A1 Comms Ltd : Report
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Added on 2020-07-23
Innovation and Its Importance to Employees of A1 Comms Ltd : Report
Added on 2020-07-23
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INNOVATION ANDCOMMERCIALISATION
INTRODUCTIONInnovation is a statement which is considered to be very important in present businessscenario. It refers to implementation of something in real life that has never been done before. Itis also considered as an activity where a person modifies something that already exist andimplements it in real life. Innovation is simply considered to be an idea, device or method. Itprovides business a competitive advantage over its rivals and assist in gaining a high percentageof consumer base. Innovation basically adds more value to the existing product or services(Adam, 2014). The report is based A1 Comms Limited, which is a innovative company and hasbeen listed into various forum as one of the most exciting and innovative company in telecomsector. But still it needs to address some problems that exists in its field. This is a reason becauseof which the case study of virgin group and apple Inc is utilised to state how they dealt withsame critical condition. Task 1P1 Innovation and its importance to employees of A1 Comms LtdInnovation is considered as the core values of this organisation which is one of thefastest growing company in telecom sector. It assist in enhancing distinction of company and itsproducts from its competitor. It also aids administration in rising the efficiency and effectivenessof process while enhancing quality of products and meeting customers needs (Bastalich, 2010).Innovation includes different types of activities such as grabbing and changing a specific idea,information and imagination for designing a product and service. Employee's usually get confused inside organisation between two terms innovation andinvention. Both of them are entirely different and are used in different conditions and scenario's.The difference between Innovation and Invention is expressed below:BasisInnovationInventionDefinitionIt is a process where a personexecutes an idea which has neverbeen used before practically. Also ifa person modifies existing productand make its more valuable andeffective then it will also beIt is considered to be a activitywhere a new idea or something hasbeen created by an individual. Thatis one of its kind. 1
considered as innovation. What is itIt is basically an implementation andmodification of existing strategy orproduct.Something new is created for thefirst time.Skills neededA person needs to have a goodknowledge of his field A person needs to have a greatscientific skills. A1 Comms Ltd is working in telecom sector that has intense rivalry among bigcompanies. There are numerous new entrants in the industry as it do not require huge capital tostart up and also existing player pose a high level of threat to organisation productivity andprofitability. This is the reason which makes innovative approach even more important for thecompany (Chun, Chung and Bang, 2015). Apple Inc is one of the best example when it comes tousing innovation in differentiating itself in market. They developed an I-pod which was smallerin size and could store more than 1000 songs. It was a major innovative product which changedthe concept of Walkman. They use to be huge and heavy, also very difficult to control. But I-podchanged the whole scenario. This small change assisted Apple Inc in achieving competitiveadvantage in market and establish a image of being an innovator in the mind of consumer. There are various advantages associated with innovation to A1 comms and its employees,like:For employeesIt boost workers complex reasoning process and issue addressing ability. Improvement in efficiency and effectiveness level of staff.Gains new abilities and skills which leads to career development.For organisationIt enhances profitability and margins Improves customer satisfaction and fulfils needs of end user.Establishes a different image in the mind of consumer which is good for company.As stated above, these are few benefits of innovation that is supported by managementand company (Clausen and Rasmussen, 2011). A1 comms Ltd needs to ensure that each andevery activity of their organisation and employees is aligned with the core values of beingprogressive and imaginative to achieve goals and competitive advantage. 2
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