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Advanced and Commercialised Strategies of Apple company : Report

   

Added on  2020-07-22

13 Pages3799 Words193 Views
INNOVATION ANDCOMMERCIALISATION

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of innovation on employees...........................................................................1P2 Organisation role for shaping innovation and commercialisation....................................2TASK 2............................................................................................................................................3P3 4 P's of innovation and uses of innovation funnel.............................................................3P4 Developing frugal innovation............................................................................................4TASK 3............................................................................................................................................5P5 New Product Development application and significance of commercial funnel..............5P6 Build an innovation business case study...........................................................................6TASK 4............................................................................................................................................6P7 Evaluation of various tools and techniques for protection of intellectual property rights6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONInnovation is a process in which organisation make effective changes in their products sothat they will attract the customers in a large level (van Hemert, Nijkamp and Masurel, 2013). Itincludes alteration which is related to the product's design, packaging, price, production strategyetc. On the other hand, commercialisation include implementing the products by usinginnovative techniques in a market. The present report presents the advanced and commercialisedstrategies which are used by the Apple company. It explains initiate and its importance which areuseful for the Apple's company employees. It also describes the organisational vision, leadership,culture and teamwork for shaping the innovation and commercialisation. In second phase, itexplains the 4 P's of innovation which are used for innovation funnel. Third phase of the report describes the importance of commercial funnel and applicationof New Product Development process. Furthermore, with the help of business case study itpresents the ways of funding. At last by evaluating the tools for developing, retaining andprotecting knowledge are also presented in the report.TASK 1P1 Importance of innovation on employeesInnovation is a creative idea by which organisation will develop new products with freshdesign, quality etc. in the market. Creativity is a type of skills by which individual will takeeffective action to improve the quality of the products. It is diversified into two parts: Inventionand Innovation (Therrien, Doloreux and Chamberlin, 2011). Invention is a procedure in whichproducer produce a new product in market for the first time. Innovation includes making changesin the existing products. By using both invention and innovation process, it will help thearrangement to achieve their desire goals. Apple is a multinational company which develop computer software and providing onlineservices. They render iPhone (smartphone), iPod, iPad, tablets, media player, watches, TV etc. Itis a world largest information technology company which supply online services like iTunesstores etc. On the other hand, cited organisation is the second largest manufacturer of mobilephones (Wong, 2011). Apple company is the best example of innovation because it has producedvarious kind of advanced techniques for development of products or services. In 2001, institutionlaunched iPod which is a media player and it stored 100 songs. After that, it makes lots ofinnovative changes like MP3 player, iPod etc. Tate manager needs t Apple organisation to1

develop more new changes and innovation in their products so that company achieve their goalsmore effectively (Somaya, Teece and Wakeman, 2011). Changes can be made by alterations inculture, environment of a cited firm. As per the scenario, it has developed new iPod which createdemand in the market. Tate manger want new changes so that company always try to motivatetheir employees and create new skills in them. On the other hand, Tate firm uses large scale ofinnovative products or services and give the opportunity to their employees by which they willadopt new techniques and equipment in their business operations. Thus, by the use of innovationactivity and new techniques it will help to improve efficiency of the Tate company so that theycan achieve their desire goals well.P2 Organisation role for shaping innovation and commercialisationInnovation and commercialisation plays an important role for an organisation. By usingthese methods firm can achieve their desire goals and also increase their profitability. In order tothis, creation and commercialisation make great impact in customer's taste and preferences(Schoonmaker and Carayannis, 2010.). Thus, Tate company need to make effective coordinationbetween employers and employees so that they will adopt the innovative techniquesappropriately. They need to focus on their vision, leadership styles, teamwork and culture. Byusing the vision, firm will decide what they want in future, so that as per the pre-plan they willmake effective action for accomplishing their goals. For example: Apple has launched MP3player so that cited firm need to focus on their vision and make effective changes in theirworking plan for developing a new MP3 player. Leadership also make great impact in organisational activity. It is an ability by whichindividual make effective control, monitor and encourage other staff members in an organisation.Effectual leadership style help to improve the performance level of an employees. For example:Apple has developed wide range of iPod and media players. In order to this, company makeeffective planning and make some innovative changes so that they will attract the customers. Inorder to this, effective leadership is necessary so that company will achieve their target andperform in an effective manner (McCoy, Badinelli, Theodore Koebel, 2010).Team work in an organisation denotes the impressive coordination between employersand employees. It includes proper understanding and appropriate use of communication. In orderto this, all the team member need to complete their task by using group's skills, knowledge,ability. This is very useful techniques for adopting innovative strategies for developing the2

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