Innovation & Commercialization Strategies
Added on 2020-06-04
14 Pages4065 Words53 Views
|
|
|
INNOVATION ANDCOMMERCIALISATION
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1Innovation and its importance............................................................................................1P2 Role of vision, leadership, culture and teamwork to shape innovation andcommercialisation...................................................................................................................2TASK 2 ...........................................................................................................................................3P3 4P's of innovation and use of innovation funnel...............................................................3P4 Development of frugal innovation....................................................................................5TASK 3 ...........................................................................................................................................6P5 Importance of Commercial funnel and New product development..................................6P6 Build an innovation business case.....................................................................................7TASK 4............................................................................................................................................8P7 Different tools to develop, retain and protect knowledge and intellectual property.........8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONInnovation can be described as to create some new idea, thoughts and concepts whichcan be implement in an organisation. Innovative strategies or policies are essential to be appliedfor increasing productivity as well as profitability in appropriate manner. It is necessary to applyinnovative or unique practices into a business to improve brand image and increase number ofcustomers along sales (Aarikka-Stenroos and Sandberg, 2012). This report is based on En-softwhich perform as best vendor of delivering software solutions in accurate way. It was founded in1997 and highly profitable from that time as it grows to annual revenue of 10 million pounds.This assignment will discuss about innovation with its importance and role of vision, leadershipor culture to shape commercialisation. It also includes 4P's of innovation with development offrugal innovation and new product development. Different kinds of intellectual of properties ofan organisation are required to be protected through utilising several tools which are givenbelow.TASK 1 P1Innovation and its importanceInnovation refers to to create something new to implement in business for making aneffective plan of action to conduct various activities or tasks properly. Innovation andcommercialisation is all about to create unique ideas to apply in business for improving theirprofits. Ensoft have to generate an effective through to boost up efficiency strategies for attainingbetter outcomes in company. They can use several innovative technique or methods to providesoftware solution for clients to achieve their satisfaction in proper manner (Bagchi-Sen, 2010).Some of significances gained through innovation are given below:Improvement of quality of services which are provided to customers according to needs ,wants, demands and preferences of people. Trendy changes or modifications can be done in effective as well as efficient way toachieve better profits in En-soft. Implementing creative ideas helps to attract new client along with retaining the currentone to grab more market area. Innovative concepts are also applied into several activities or tasks in manufacturingprocess to improve productivity on regular basis in less period of time. 1
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents