Importance of Innovation and Commercialisation for F-Drone | Desklib

This document discusses the concepts of innovation and commercialisation and their importance to F-Drone. It explains the difference between innovation and invention and how innovation can lead to growth, beat competitors, and differentiate the company. It also explores how F-Drone's vision, leadership, culture, and teamwork can shape innovation and commercialisation. Additionally, it discusses the 4Ps of innovation and the use of the innovation funnel to examine and shape innovative ideas.

Innovation and Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Explain innovation and determine its importance to F-Drone in comparison with invention.
.....................................................................................................................................................3
P2 Explain how F-Drone vision, leadership, culture and teamwork can shape innovation and
commercialisation.......................................................................................................................4
TASK 2............................................................................................................................................5
P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas.................................................................................................................5
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organisational context.................................................................................................................6
TASK 3............................................................................................................................................7
P5 Explain the importance of the commercial funnel and the application of New Product
Development (NPD) processing for commercialisation of innovation.......................................7
P6 Build an Innovation Business Case for an organisation including ways to access funding. .8
TASK 4..........................................................................................................................................11
P7 Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property.........................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
The terms innovation and commercialisation are used in number of ways to regarded as
process of developing new technology integrate in new products, services or process. Innovation
implies both the development and application of a new product, process or services. Innovation
is the process improving existing product. Innovation doesn't mean to do something differently
but to do or make something better. Commercialisation means to introduce new products or
services into the market. Commercialisation is the process to gain profit from innovation through
the sale or use of new products or services. F-Drone is a leading company which is innovating its
products, they are building the first transition drone to allow aerial deliveries to ships and other
seaward platforms. The specific designs of the company possess a combination of high
capabilities. The company objective is to be a leader of heavy payload drone logistics across
industries in upcoming 5 years.
TASK 1
P1 Explain innovation and determine its importance to F-Drone in comparison with invention.
Innovation generally means to replace or improve something such as product, service or
a process. It is a process to bring out a new ideas, new products or new methods to an
organisation (Chesbrough, 2017). Innovation brings a change or something new in the company
that fills an untapped need of the customer. It is a change that is adding value to the products or
services.
Example: The building up of world's first transition drones is an example of invention as it is
related to something completely new. There are modifications made in the existing products.
Invention means creation of new ideas and concepts together in a way to create something that
didn't exist before. It is a scientific idea that is that is developed research & experimentation then
turns in a tangible product. Inventions are patented, as it provides a security to the inventor, for
the intellectual property rights and it also identifies as an actual invention. The invention has to
be new and patent has to be created.
Example: Invention is related to making some changes that is enhancing the capacity of F
drones in terms of covering of distance and weight is one such aspect that is bringing of
innovation in F drones. Here the new unique design will be a combination of long range

capabilities and heavy payload. The innovative in these F drones will be in terms of reliability
standards and high safety.
Basis for Comparison Invention Innovation
Meaning Invention means occurrence of
an idea for a product or service
that has never been framed
before.
Innovation refers to
implementation of idea for
product or services for very
first time.
Concept Invention is an original idea
and it works in theory.
Innovation is a practical
implementation of new ideas
or new concepts.
Occurrence It occurs when a new idea
strikes in the mind of scientist.
It occurs when a need is felt
for a product or any
improvement in existing
product.
Skills In Invention the scientific
skills are required.
In Innovation, technical and
strategic skills are required.
Importance of innovation to F-Drone
There is various importance of innovation to F- Drone they are outlined below-
 Innovation increases growth-
Each and Every Organisation wants to grow their business in order to become more successful
and profitable. The growth of F-Drone can be increased through innovation. They are building
the world's first transition drone to enable aerial deliveries to ships and offshore platforms. This
innovation increases the growth of the F-drone.
 Beat Competitors-
When the company is innovating it becomes easy to beat the competition. Through the
innovation, F-Drone can beat its competitors. It is very creative idea or concept to provide an
aerial delivery of products through drone. The company is building aviation-grade drones that
would set a high safety and reliability standards (Proctor, 2018). This concept is new and
innovative which will beat its competitors.

 Innovation helps to differentiate-
Innovation is all about doing something differently from others. Through innovation the F-Drone
differentiate itself and its products from the competitors, which can be powerful in an
oversaturated market. The main focus of F-Drone is to deliver value to its customers by doing it
in a way that is memorable and different from others. It became a stand out factor for the
company brand identity and business strategy.
Importance of invention for F drones: F drones are working towards developing of first
transition drone that is leading to enable the aerial deliveries that is a design combined with
heavy payload and development of log range capabilities.
In F drone invention is very important as it will lead to adopting of a proper product
development process. So, that new process can be easily adapted in order to create this new
object it will be part of a unique function related with a radical breakthrough it will also lead
towards development of an intellectual property right for F drones by recognizing this as part of
their invention.
P2 Explain how F-Drone vision, leadership, culture and teamwork can shape innovation and
commercialisation.
It considered as organisation focusing on set goals and objectives, values & missions. These is
process which refers to helps to effectively developing various tool in order to guide the team for
looking forward vision of an organisation to commercialisation.
The vision of F-Drone effectively focusing in order to become leader in 6 years. The vision of
the company helps to shape the innovation and commercialisation by innovating the new
products and services due to commercialising the product in the market (Cropley and Cropley,
2020). Therefore, it focuses on F-Drone in order to addressing the innovation and invention
process.
The culture refers the organisation shows the values, attitude and norms of the company. The
employees of the F-Drone are of different cultures, leaders effectively communicating with team
members in order to influencing other thoughts and developing new innovation and invention in
products and services. Behaviour and involvement play vital role in order to achieving
innovation. The team of the organisation also helps to shape the innovation and
commercialisation by performing effectively in order to accomplishing innovation and
commercialise product & services. The team member’s work accordingly in order to successful

attained goal and objectives of the company by developing new ideas or services to the
customers, F-Drone set their goals and objectives as well as formulating new strategies. So, team
members perform effectively in order to developing innovation & commercialisation.
Leadership is the method to lead or organise the company according to the organisational goal
and objectives. Innovation can't succeed without fully present leadership (Fontana and Musa,
2017). There are ample numbers of leadership style such as autocratic, participative, democratic
and laissez-faire. The best leadership style suited for F-Drone is autocratic; this style helps the
company to be successful. It leads too fast decision making process that further creates better
way in which aid business decisions can be achieved.
Team work: It is regarded as the collaborative efforts that are based on achievement of a
common objectives or goal in relation to laid aims and objectives. This concept is related with
group of interdependent individuals who are working towards achievement of a common
objective. While launching of the innovation in F drones there can be use of team work as a
constant efforts which will further lead towards achievement of the required innovation in
context of success of business. In F drones in case of expansion of the launching of new
innovation the team work will lead towards having a approach of dealing with the hurdles and
collaborative efforts in a more digital, dispersed and dynamic manner that is part of overall
efforts of each members. Leaders here will be playing a major part in using of a participative
style so that each member has a opportunity to present their views regarding the way overall
innovation related objectives will be achieved.
TASK 2
P3 Explain the 4Ps of innovation and explain the use of the innovation funnel to examine and
shape innovative ideas.
Innovation is the process by which an organisation creates a new ideas, new products or
services (Bessant, 2017). Innovation implies as the transforming the idea in reality. It is
described as a change that adding up higher value to the products. So that requirements can be
fulfilled of customers. The 4P's of innovation, is innovation mix which must be used by the F-
Drone they are-
Product-

Product is one aspect that is related to innovation, it is the main item which is offered to
customer. If F-Drone launches the new products & then providing a high-grade service to the
customer then it will be able to add value to the company by adding competitive advantages. The
product is the main element of 4P's by which the innovation and commercialisation is done.
Process-
Process is a procedure of how the company creates its value. While creation of innovative
process to achieve high profits. Process is helping the way product is provided by the company.
F-drone will provide the products by aerial deliveries. It is an important issue, because if the
delivery process is longer then it may lead to lower possibility of success as customers may get
frustrated.
Position-
Position is determined as the place in the external market segment in which the product or
services is set as the target market. It is the change in the overall process that is affecting the
present innovation by which an organisation wants to achieve the higher competitive position. F-
Drone wanted to attain a higher position by offering high quality of services to the customers
(Hinings, Gegenhuber and Greenwood, 2018).
Paradigm-
Paradigm stands for the changes to be achieved regarding why, how product is being utilized or
how the things should be getting to done. It includes different values, principles, theories and
beliefs. Paradigms are part of Mental Models and some of the theoretic model. In Innovation,
paradigms & mental models are to be reasoned as the business models. Some of the models are
the tools through which the company can understand how the world works and how the markets
operate. Paradigm is the planned process through which a company has to deal with changes that
have to be made up of innovative ideas & process of how the organisation is managing different
jobs. F-Drone has to deal with such changing situations.
Innovation funnel to shape the innovative Ideas
Innovation Funnel is regarded as the framework that enables a continuous stream of innovative
ideas that have to be screened for its viability. It is often also called as “Funnel management
process”. It is one of the popular approaches that is adopted by some of the organisations to
make a decision what ideas are realistic and what are strategies and action plans have to be

formulated the aim of the innovation is for the objective of generation of many ideas so that it
can be converted in a development plan. It is working towards creation of funnel like shape, from
many ideas to few ideas. Innovative Funnel is the process of developing new idea by describing
the steps in which an idea can be best to provide the better services to the customers ( Ruposov
and et. al., 2018). There are various types of ideas that have to be driven to achieved the goals of
organisation. The first steps in an innovation funnel for F-Drone is to collection of the relevant
information, to analyse it according to the overall customer responses. Then the process comes to
screening the complete idea among the various ideas to decide one of the best courses of action
for its final implementation and actualise the idea into action.
Steps and stages of innovation funnel:
1) Collection of ideas: It is the first step or stage of innovation funnel where there is organisation
of Ideas based on the present knowledge base. More development of Ideas there can be a
collection of information so that there can be use of proper innovative idea for the purpose of
reaching to a better outcome. In case of f drones the focus is on building up of first transition
drone that can lead to enabling of aerial deliveries to ships.
2) Screening process: Second step where there is narrowing segment of funnel representing the
matching of ideas with the overall objectives whether there is presence of any type of
interrelationship. This stage the overall Idea has to be tested based on products or services that
are to be offered to the actual target segment of customers. All the resources available with the
organisation are scarce. So, there is need to focus on having a line with the over-all mission of
the organisation and the present objective of prospective innovation. In this F drones will be
ensuring that there is match between the prospective ideas of expanding the capacity of drones
with the available resources with the organisation.
3) Delivering of ideas: At this stage the organisation ensures that the selected idea is delivered
according to the anticipation with which organisation has started. New product or services is
finally launched in the market. At this step of funnel the idea will be finally launched by
expanding the capability of new F drones with high amount of capacity.
P4 Explain developments in frugal innovation and provide examples of how it is used in an
organisational context.
Frugal innovation is to be defined as process of development new figures, products and
services, business models, with aim of achieving competitive advantages. With help of this

process, market and other sectors in business too get developed at larger scale. This process is
used by all small, medium & large entity (Rosca, Reedy and Bendul, 2018). It also depends on
several factors of the country like social factor, environmental factor and political factor these
are the driven forces of the frugal innovation. These are the factors which are helpful to shape
innovation process.
Characteristics of frugal innovation:
 Frugal innovation is basically related to low cost innovation that is frugal Engineering or
a constant based innovation.
 The main focus of frugal innovation is a substantial cost reduction so that there is more
concentration on the core functionality for the purpose of optimising the overall
performance level.
 In case of frugal innovation there is designing of products in such a manner that there is
reduction of overall complexity that leads to reduction and cost of coats and there is
removal of non essential features from a durable product.
 It is a term that is associated with frugal engineering where the main aim is achievement
of more outcomes in few resources.
So, If F-Drone has to take frugal innovation process it has to consider these various factors
critically and importantly. This study focuses on exploring of process of individual development
ideas & accessing to success. This process is beneficial for organisational growth as it assists
achieving of competitive advantage. It is a process of producing a product by eliminating
expenses at low level and also acts as a process of reducing cost & complexity of the product and
the process through which the product will be reached to customers. The customers are not
happy with the complex process so the process should be simple and convenient to the customers
(Krohn and Buse, 2019). In this competitive market, it is crucial for entity to be well aware of
changes that are necessary for business development on basis of which it is easy to adopt process
of frugal innovation. It leads to increase in future sustainability, improvement in established
products as well as services etc.

TASK 3
P5 Explain the value of the commercial funnel & the application of New Product Development
(NPD) processing for commercialisation of innovation
Importance of commercial funnel:
It is based on whole process when customer is accepting a product based on its innovation. F
drones there is building of world’s first transition drone for the objective of enable the trial
deliveries to offshore platforms & ships.
The funnel is basically divided in three aspects:
Awareness: this is the first stage of sales funnel where there is creation of awareness
identification of the potential customers who are facing a specific problem and there is detailed
research. In present scenario of thrones there has been detailed re few of the way there can be use
of innovation technology for the purpose of formation of thrones that is one of the leading aerial
delivery.
Interest: at this stage interest is created among the customer group related to the invention that is
being done by the organisation. In case of thrones there is use of aerial deliveries in offshore
platforms and ships this will assist the brand to create interest among their target segment of
customers.
Decision: based on this interest the customers will be taking the decision whether to go for a
particular product or not. F drones will be working on their unique designs that will assist them
in creation of world’s first transaction drones. This is one of the features that will assist in
attracting the customers towards availing the services and as a part of aerial deliveries.
Action: this is the last step of the commercial funnel where there will be final action to purchase
or not to purchase a particular product by F drones. Generally the use of funnel is based on
enhancing the promotion of a product for the target segment of customers by use of a leading
business strategy
Marketing funnel segment: It is managed by marketing department in F drones where there is
focus in conversion prospects of target market into leads. In this the main marketing aspect of
FG drones will be the higher safety & reliability standards that are part of this management
system (Johnson, Friend and Lee, 2017).

Sales funnel segment: It is a aspect that is administered by sales staff who is responsible for the
businesses. In F drones this segment is to focus on conversion of prospects in customers. So that
further they can move towards customer funnel segment (Cheng and Yang, 2019).
Customer funnel segment: It is managed by support and service standard who is responsible for
retaining of customers. The aviation grade drones are the major feature that is creating a aim for
F drones to be leader of heavy payload drone logistic across the industry in five years.
New product development process:
Idea generation: NPD process is starting with generation of idea as there is systematic search of
new idea. In case of F drones there is a new idea to develop world’s first transition drone for
enabling of aerial deliveries.
Idea screening: In this stage the new idea is screened or is enabled in F drones the idea of aerial
deliveries was enabled by analysing the safety and reliability standards of the drones.
Concept development and testing: In F drones at this stage the idea is further developed in a
product concept, that is detailed version of new product idea. The concept of F drones is based
on creation of on demand aerial transportation of goods for this they are working towards
innovative drones that can be operated with heavier loads.
Marketing strategies: In this stage F drones is focussing on the way suitable marketing
strategies that can be used for review the new product. For this there is use of digital marketing’s
strategies to engage people and make them aware of the innovation being bought by this brand.
Product development: In this stage of NPD the actual concept is finally converted in form of
product. The unique design with long range capabilities and heavy play load will be finally
launched in the market.
Test marketing: The product by F drones that is developed can be first tested for a small range
of market to evaluate the customer responses (Jagtap and Duong, , 2019).
Commercialisation: It is an aspect where the management is provided with the required
information to make a final decision to launch a product or not. In this there is introduction of the
product in market. F drones at this stage have reached to the final decision to build up first
transition drone to enable the process of aerial deliveries (Mauerhoefer, Strese and Brettel,
2017). There will be use of digital marketing strategy for the purpose of commercializing the
newly launched product.

P6 Build an Innovation Business Case for an organisation including ways to access funding
F-Drones is launching world's first transition drone to help in the process of aerial
deliveries across offshore platforms. Present business case is based on the different element
associated with the launching of innovation by F-Drones.
Element Description
Company overview F drones is company of Singapore that has
received an authorization from civil aviation
authority to conduct BVLOS drone deliveries
to ships in Singapore, they are presently using
5 kg of drones for 5 km now the innovation
plan is to focus on improvement of 100kg
ranging over 100km. F drones are also
working with BW hafnia for development of
their offering with Airbus and Wilhelmsen to
conduct a shore to ship pilot project.
objective F drones has a mission to enable on demand
and large-scale aerial transportation of goods
with innovative drones that can be used for
flying further products with heavier loads.
Solution For achievement of objectives F drones is
working towards managing of pierce through
areas where industries may be lagging behind
or stagnant (Kim and Park, 2018). For the
purpose of quick deliveries at rushing hours
and scanning to unreachable military base
drones are helping in situation where people
cannot reach easily. Drones will be controlled
remote or sometimes accessed via smartphones
that will lead to reaching some of remote areas
with no manpower.

Innovation in services F drones is moving towards launching some
solutions for expensive transportation solutions
to save 80 percent of cost, CO2 emissions and
time (Kun, 2017). The innovation is in form of
use of of shelf drone that will deliver 5 kg
loads across 5 km. The innovation is to
developed 100kg-100 km drone in coming time
period of second half of 2021.
Research F drones is working with Hafnia that is a
leading product tanker brand. According to
view of shanker pillai who is head of
innovation at Hafnai says that F drones is
working towards launching if drone technology
with an aim to conduct the remote delivery of
small packages and emergency delivery to
vessels (F-drones Completes First Commercial
Beyond-Visual-Line-of-Sight (BVLOS) Drone
Delivery in Singapore, 2020).
Cash flow Cash flow: cash flow is regarded as the net
amount of cash equivalents or cash that is
being transferred inside and outside of business
organisation by the function of various
transactions. It can be said that at most
fundamental level organisations ability to
create high value for shareholders is
determined by the ability to generate the
positive amount of cash flow and maximize
long-term free cash flows.
Advantage: in case of F drones being a part of

new innovation cash flow statement will
present the cash position of organisation at the
time of making payment directly by helping to
verify the present liquidity position.
Disadvantage: cash flow is also associated
with disadvantage as cash flow forecast can be
affected by various external factors that are
experienced by organisation. In F drones
because of the volatile business environment.
Different ways to access to funding:
Crowd funding: Crowd funding is a practise where funds can be generated in a project by
raising of small amount of money from large number of people via internet. Crowd funding is a
source of alternative finance (Csedő and Zavarkó, 2020).
Benefits: It is fastest way of raising finance for F drones. It is best way to test the reaction of
public, investor can be easily tracking the progress by promotion of brand through such
networks.
demerits: There is need to do lot of work in building of interest for a particularly project before it
launches. In F drones in case of failed projects there can be risk of damaging the reputation of
business.
Venture capital: venture capital is a type of equity and financing for investors that can be
offered to start-up organisation or small business with long run growth potential.
Merits: There can be expansion opportunity that is not possible with bank loans. It is suitable for
F drones as the brand is willing to launch new innovation in their drones by enhancing its
capacity to 100kg and 100km. It is also a source for valuable expertise and guidance that leads to
building of connections and networks.
Demerits: There is a risk of control and dilution that may lead to under valuation and losing of
control by the co-founder who is Nicolas ang and yeshwanth reddy (Elert, Henrekson and
Stenkula, 2017).

From above mentioned sources of funds, it can be said that the most suitable sources of
arsing fund in present situation is Venture capital as it will help in expansion of the brand by
building of connections and networks at same time financial requirement are also fulfilled.
TASK 4
P7 Evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property
It is necessary to develop, protect and retail different intellectual property rights that have
been developed by organisation. In case of F drones the present innovation of building world's
first transition drone will enable aerial deliveries all this is require to be protected so that it
cannot be imitated by other competitors. Some of such rights are mentioned below:
Copyright: It is a legal right of owner where original creator of product gets exclusive right to
further use it for a specified time period.
It protects creators from original material to avoid duplication (Stojcic, Hashi and Orlic, 2018).
Advantage: it is a great tool that allows the holder to use it as a intellectual property right so that
no other organisation is using it to reproduce their work.
Disadvantage: copyright does not guarantee ownership in all cases and it may lead to slow
dissemination.
Trademark: It is an intellectual property right that consist of identifiable design, sign or
expression that is used for identifying a product or a service from a specific source.
Advantage: the high quality of products and services of associated with the trademark leads to
establishment of trust and Goodwill among customers that leads to creation of a high positive
brand image for long time duration.
Disadvantage: Trademark has a disadvantage that it is associated with high cost as there is need
to pay fees in a time period of 10 years. It creates a high cost burden in a very short duration of
time period and non payment of renewal fees leads to removal of trademark from the register.

Patents: Patent is granting property right that provides investor with a exclusive right to patent
a design, process or a invention of a designated period (Oderanti and Li, 2018). Government
agencies are handling and approving applicants for patents.
Patent:
Advantage: patent insurance a plan of something that is used for prevention of deliberate
infringement.
Disadvantage: Patents are very expensive and may lead to huge amount that can lead to high
cost burden for organisations.
Trade secrets: Trade secret is a aspect that is giving competitive advantage over other
competitors. It provides a competitive advantage that is product of development and internal
research. In present case of F drones the overall competitive advantage is attained by this brand
as they are working towards
The robotic technology advancement is shaping the intellectual property rights according
to present needs and creation of a specialized brand named as “robotic law”. There is need to
identify the way it has to be protected. The most suitable intellectual property right for F drones
is to use patents. So that it will protect them beyond the law (Drones and the challenges of
Intellectual Property, 2016). The innovation will help them in extending their innovation to other
countries where they are presently not having any type of presence without having any risk of
imitation.
CONCLUSION
It can be concluded from above made discussion that innovation is one of the most
crucial aspects that can lead towards achievement of success. With the changing external
environment there is need to focus in implementation of new ideas. Different aspects such as
innovation funnel and frugal innovation are to be considered for smoothing the innovation
process. There is need to identify new product development process by identification of sources
from where funds can be raised. Different intellectual property rights are helpful in projection of
the new innovation.

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Online
F-drones Completes First Commercial Beyond-Visual-Line-of-Sight (BVLOS) Drone Delivery
in Singapore, 2020 [online], Available through<https://www.f-drones.com/post/f-drones-bvlos-
singapore>
Drones and the challenges of Intellectual Property, 2016[online], Available
through<https://brlatina.com/blog/2016/drones-and-the-challenges-of-intellectual-property-for-
new-tech/>