Innovation and Commercialization

This document discusses the concepts of innovation and commercialization in organizations. It explains the difference between invention and innovation, and the importance of both to companies. The document also explores the impact of leadership, teamwork, and organizational culture on innovation, using Samsung as an example. It provides insights into Samsung's background and its commitment to innovation.

Innovation and Commercialization

Table of Contents
1) INTRODUCTION...................................................................................................................................3
2) BACKGROUND OF THE ORGANISATION.......................................................................................3
3) DIFFERENCE BETWEEN INVENTION AND INNOVATION...........................................................4
4) TYPES OF INNOVATION....................................................................................................................9
5) PROCESS OF COMMERCIALISING INNOVATION.......................................................................14
6) HOW TO PROTECT INNOVATION..................................................................................................17
7) SUMMARY AND CONCLUSION......................................................................................................20
REFERENCES..........................................................................................................................................22

1) INTRODUCTION
Innovation refers to new idea, thoughts and imaginations in form of the method. This is
viewed as applications of the better solutions and meets new needs and existing market
requirements. This includes the deliberate application of the imagination, initiative and
information in order to deriving the various values from the resources and consists all the
processes through which the new ideas are to be generated and also converted in useful goods.
Innovation takes place by provision of the effective processes, technologies, products and
business models which made available to markets. Innovation is an important topic because it
attracts the people most and helpful in making the business successful (Ambec and et. al., 2013).
In this present era, customers want the unique and different products which help in satisfy their
needs and wants. It helps in develop the positive impact on mindset of the customers and they
can be loyal towards company for long period of time. Under mention report, there will be
discussion about the invention and innovation and also difference between both of them.
Organizational culture, values and teamwork impact on innovation and the commercialization
will be mention here.
2) BACKGROUND OF THE ORGANISATION
Samsung is South Korean multinational conglomerate company. It was founded in
year1938 by Lee Byung-chul. This is flagship firm of Samsung Chaebol that accounting for the
70% of revenue of group in year 2012. Samsung electronics has the assembly plants as well as
sales network in around 80 countries and this has more than 308,745 staff members. This is
largest manufacturer in world of semiconductors and consumer electronics in terms of revenue.
This company is main manufacturer of the electronic components like Chips, lithium-ion
batteries, image sensors, flash memory and camera modules for consumers like Sony, Nokia,
Apple and HTC. It is largest manufacturer of the smart phones, television and mobile phones.
The company sells home appliances, like TVs , computers, refrigerators , washing machines and
main electronic products such as smartphones and laptops. Samsung remains a trustworthy
supplier of key components such as DRAM and non-memory semiconductors (Battistella and
Nonino, 2012).

Samsung has pushed limits of the mobile technology and set standard for what smart
phone can be. Through advancing the mobile technology, developing groundbreaking form of
factors and also providing creative solutions, Galaxy series has helped the millions attain more.
Samsung is dedicated to developing and providing quality goods and services that will make its
consumers around world more comfortable and knowledgeable. By actively seeking ground-
breaking technological technologies and value development, Samsung is committed to
improving the world. Samsung vision is core to our dedication to leading technology, solutions
technologies that empower communities world-wide to unite with our ambition to make the
world better full of smart digital experiences (Burnett, 2017). It is also committed to bringing
new values to sector and to consumers while at the same time upholding shared values between
staff and partners, as it understand our role as a innovative leader in global society. Samsung
wish to build an exciting and prosperous future for all at Samsung Electronics.
3) DIFFERENCE BETWEEN INVENTION AND INNOVATION
Define innovation and invention. Also define commercialization
Innovation- It refers to a mechanism that creates new ideas and benefits and attracts a
large number of customers. The image of the company is positive. Innovations include deliberate
information, creativity and initiative application in derived value from the resources and involve
processes through which the new innovation occurs and turned into the useful goods and
services. In the market, innovation also occurs when the organization applies ideas to better meet
customers’ expectations. Depending on the requirement or desires of customers, companies
develop new products. In this current era, innovation increases the attraction of customers to
services or company products (Calabrese, 2016). It covers the creation process and introduces a
new system, feature or goods. The innovation concept is becoming essential for companies in
today's scenario, where the wants and needs of consumers are changing at fast speed. When
business provides its customers with something different and innovative, it only helps to attract
many customers but also offers competitive benefit. In order to introduce innovation successfully
and also to get all its advantages, a business company has an important part to play in.
Invention- This is novel or unique device, composition and method. Invention process is
process within overall engineering as well as process of product development. This may be

improvement upon new process or product for developing an object. A unique function as well
as resulting invention can represent radical breakthrough. These works are new and are not
evident to other qualified persons in similar area. An inventor will go a long way to achievement
or failure. There may be any patented inventions. A patent preserves the inventor's right to
intellectual property legally and acknowledges legally that an invention asserted is an invention.
The regulations and demands for patenting invention differ by country, and it is often costly to
obtain a patent (Castillod, 2016).
Commercialization- It refers to introducing new goods and method of production in to
the commerce. The process of commercialization is the marketing of innovative products and
services. More extensive marketing involves the production, marketing, sales, distribution,
customer support and other important functions to achieve a new product or service's commercial
success. Commercialization connotes entry into mass market but also involves move from
laboratory into the commerce. The ideation stage is seen by many as a funnel’s head. While
several ideas come into the top of the funnel, only fraction finally goes downwards. Ideation
aims to create new goods and services that match unresolved consumer demands, while offering
great benefits at low cost, and most functioning designs integrate with the business model of
company (Cooper, 2016).
Explanation for both concepts and differentiate between them
Innovation occurs when someone improves and also makes the necessary contribution in
existing process and services. It gives the inventor security and intellectual property rights, and it
is also a true invention. In addition, there are different rules for obtain of a patent in various
countries and the process is expensive. The invention should be new, important and unobvious in
order to be patented. On the other hand, invention is creation of process and a product for first
time. It is an act of creation, design or discovery of the unprecedented device, method and
process (De la Mothe and Paquet, 2012). In brief, this is new scientific idea conceived as a
tangible object through research and experimentation. This can be new method in which a
product is made, or a new product development can be achieved. The difference among
invention and innovation mention below:
Basis Innovation Invention

Meaning Innovation implies first time
that the idea has been
implemented for the product
or process.
The idea for process or
product that was never made
previously refers to the
occurrence of the invention.
Skills required This requires technical,
strategic and also marketing
skill.
Scientific skills
Activities The activities of innovation
spread across the company.
This is limited to the
department of Research and
Development.
Occurs when This occurs when a product
needs to be experienced or the
current product changed.
It occurs when any new idea
strikes.
Related with It is related with the
combination of different
processes or services.
Single process and product.
Table 1: The difference among invention and innovation
(Source: The Difference Between ‘Invention’ and ‘Innovation’)
Importance of both innovation and invention to organizations
Importance of Innovation
Provide competitive advantage to company- If a company produces and offers something
special to its consumers, it differs from several other players on the market. New product assists
to get more customers ' attention and increases sales of the product of the company. This gives
the business competitive advantage and long-term sustainability. In order to achieve competitive
advantage, the continuous implementation of the innovation concept by Samsung is very
important (Díaz-García, González-Moreno and Sáez-Martínez, 2015).
Increasing communication process efficiency- The concept of innovation is a specific
one as various tasks are performed by the organization. This is quite important that businesses
use efficient communication networks to benefit from all developments. It eliminates uncertainty

among clients by letting them know of their duties and responsibilities while raising increasing
conflicts at work. Effective communication channels are used by Samsung organization during
innovation and coordination between different other functions of the enterprise.
Proper use of business resources at optimum level- If an organization executes the
conception of innovation then it offers a chance to use all resources. It helps make it easier for a
company to produce and offer its consumers featured products at reasonable prices, all of which
increase their corporate goodwill. This enables Samsung to sustain its customers themselves for a
long time (Dodgson, 2018).
Importance of Invention
Solve problems easily- To solve specific issues, company must come up with the creative
answers. It faces problems that do not appear to go away many times. To find a response firm
never came with, have to think beyond the box. This you to build product, store your stock and
find an innovative way to boost company.
Compete with competitors- This becomes easy to beat competition when Samsung think
innovatively. It only has to be innovative and can quickly find new ways to develop products
and communicate with customers. In addition, imagination will help firm to determine the
appropriate marketing methods to grow business (Drauz, 2014).
How Innovation is developed
Innovation is mainly developed to focus on meeting needs and preferences of consumers
as well as market requirements. In this, formation of partnership is mainly through needs of
market and product development but viewed with the fear through managers. Innovation
development is based on the type of economic growth that the company develops and its
interactions with the internal and external environments. The conclusion was drawn that SMEs
do not systematically invent, but intuitively and firmly rely on the concept of their founders.
They innovate in order to satisfy customers' expectations and industry requirements. Leaders and
owners continue to look carefully at the formation of partnerships (Genç and Di Benedetto,
2015).

Samsung firm is leveraging technology this knows in better manner such as mobile,
security and the semiconductors to develop the intelligent platforms for the IOT. In context to
this, forwards thinking cities are starting to embrace the technological innovations which leading
to the dramatic modifications in transportation, services, housing, security and safety.
Organizational vision, leadership, culture and effective teamwork influence innovation and
commercialization, and how these factors can make an organization an innovative organization
Timely basis of innovation is required by each company because of increasing consumer
needs and wishes. This is necessary for employers to look at all factors influencing their
implementation in order to achieve all the advantages. The effect of its application is as different
factors. In the formation of commercialization and innovation, teamwork, vision and leadership
play a significant role. They are all elements that make the organization operate smoothly. To
order to ensure that workers will not have difficulties to meeting them within a certain
timeframe, the goal of the company should always be transparent (Gennaioli, Shleifer and
Vishny, 2012). There are various aspects given below which give the shape to innovation and
commercialization:
Leadership- Innovation is a significant consideration for staff members employed in an
enterprise. Samsung Company needs to have sufficient skills and expertise to achieve all its
advantages. Leaders play a significant role in guiding employees and impact their organizational
behavior. The leaders should constantly encourage employees to think innovatively, and they
should be offered to this proper working environment. The leader will increase the commitment
of the employees to the company's success with the right approach to the leadership. Employees
also benefit from personal skills and leadership characteristics. Samsung execute successfully
and concurrently with an overall correct leadership strategy (Gopalakrishnan and et. al., 2015).
Vision- This is an indication of the company's role in the years. It primarily impacts
innovation, as it can accomplish a certain goals and to achieve a competitive position on the
market with the aid of an innovation business. Innovation can be said to contribute to the growth
of the organization. The vision of Samsung is “To inspire world with innovative technologies,
design and the products which enrich lies of people and also contributes to the social prosperity
through developing new future.”

Teamwork- It means the employee work as a team to conduct business tasks and meet
customer requirements. One of key advantages of teamwork is that this creates trust between
employees and strengthens their knowledge and skills. Teamwork promotes and incorporates
creativity in diverse business ventures. In order to achieve all of the advantages of a team, this is
important that all the team members have proper communication, so that they can better fulfill
their duties and responsibilities.
Organizational culture- Culture defines communications flow in the working
environment and emphasizes methods used by companies for other work. Successful corporate
culture encourages and embraces creativity in the right way. This is important to have a positive
organizational culture to allow employees to perform more and more efficiently. Staff members
can change and concentrate on innovation easily in a positive environment. However, culture
should be enjoyable so that every Samsung staff member can contribute through adopted the
advanced technologies and develop unique products (Gutierrez-Gutierrez, Barrales-Molina and
Kaynak, 2018).
All of the main factors which shape innovation and influence the output of innovation.
Manager of Samsung can prepare a plan to ensure that innovation is implemented effectively.
The manager of Samsung firm must analyze these factors very significantly. This allows the
business to offer its customers more and more services while maintaining them for a long period
of time. Main advantage of the innovation is that they give more customers the chance to serve
while helping them gain a competitive market position.
Sources of innovation including the merits and demerits of each source.
Sources of innovation exist outside an organization in its intellectual as well as social
environment. There are different sources of innovation with their merits and demerits given
below:
The unexpected- There can be unexpected innovations. It can happen incidentally.
Somebody could stumble over new idea or product. In human experience there are many
unpredictable developments. Even fire is an unexpected innovation which people have failed to
overcome. However, it is interesting to note that several significant innovations have taken place

unexpectedly in our history. Often, as scientists seek something, they keep stumbling on further
something else.
Merits Demerits
This is related to unexpected innovation. The more cost and resources are involved in it.
It develops the new and innovate products. Chanced of failure is more.
Innovation Based on Process Needs- System incongruities in the main, a "bad" or
"missing" connection is needed in the current process. Innovation opportunities exist if the
process is to be completed. There must be a 'better way' doing something that users receive
enthusiastically (Hakansson, 2015).
Merits Demerits
This requires current process. Without completion process, innovation cannot
be existing.
Customers received something new and
unique.
This takes more time.
4) TYPES OF INNOVATION
4P’s of innovation
4ps of innovation is model that developed through Joe Tidd and John Bessnt. As the
requirements and demands of the consumers change quickly, the process of development is quite
important for companies in order to respond to this change. It is not only helps to fulfill
consumer requirements but also helps to take advantage of market possibilities. To achieve every
advantage of innovation, its effective implementation is very important. There are 4Ps of
innovation that help to better apply innovation. This tool is useful when looking for advancement
in the business of the innovation process. This discusses how every business field can be
improved. There are 4ps of innovation mention below:

Product- It is known as the company's final offer for target consumers in order to satisfy
the requirements of customers. The balance of tangible and intangible attributes is recognized as
well. Samsung offers its customers in a variety of areas around the world different products or
services. This is important for businesses to consider the needs of their consumers and it can be
achieved by means of research to improve the sales of their services. This allows the company to
deliver services to its customers and can keep them for a long time (Hashmi and Biesebroeck,
2016).
Process- Innovation process involves forms and improvements in the distribution of
goods and services. This can combine the production, marketing, delivery and support of or offer
a service with strategies, capabilities and technologies. There are various ways for the customer
to enhance the operation (Datta, Mukherjee and Jessup, 2015). Samsung wants to pursue the
cycle of introducing innovation to give its consumers something better. This is essential that
employees are trained to develop skills so that they can play their job effectively.
Position- It is the market segment currently being targeted for product or service.
Innovation in the position can lead to product being new market segment, which has not
previously or has not been entirely new towards new market segment. Position innovation
underlines the different instruments used by Samsung to make its consumers aware of and
impact them to buy products and services. There are various digital tools available which
Samsung can use to boost sales (Kalaignanam, Kushwaha and Swartz, 2017).
Paradigm- This means that the company provides more features to improve its utility and
a sale, as it supports attracts more buyers. Once again, Samsung switches paradigm. With speed
as well as size, Samsung keeps flashing mobile landscape. For an example, the very same storage
capacity as the desktop / laptop SSD-toting computer was available for phones. The constant
battle for apps as well as data would be gone.
Innovation funnels and explains how they are used to develop innovative ideas
Innovation Funnel is framework for a constant flow of ideas which are feasible. It is a
common innovation method used through several businesses for the development of an
ambitious and practical action plan. This is a common approach to innovation used primarily by
the organizations to create an action plan for innovation. The aim of a project is to realize ideas

through alignment to clear goals that can meet consumer requirements in an economical way.
Innovation funnel is mainly used by companies to effectively integrate and benefit from
innovation. It includes mostly a process in which organization, in order to fulfill their needs,
takes the shape of real life and then transforms it in product to give end users. One of major
advantages is that this offers organizations the ability to recognize and assess current trends of
market. Samsung is able to conduct research to gather additional information on customer
needs; company can sustain customers for long period of time (Kazmi, 2017). There are different
ways innovation funnel develop the innovative ideas mention below:
Wide mouth of funnel- It aims to strengthen knowledge base of a company under this
kind of innovation. The main reason is to collect the several ideas and select new and faster idea
to assists in establishes products and processes. Samsung Company can accumulate research data
and information, organizations, existing partners etc.
Narrowing segment of funnel- Organization is implement concept with screening
assistance. It is about fulfilling ideas with the objectives of its organization. Business and
management have to assess risk as well as returns after their completion and check their products
and services together with their purchasers (Kushwahab and Sharma, 2016).
Narrow segment of funnel- Under this, the organization supports the fact chosen to
achieve the objectives of a company that is expected only at time of the launch.
Funnel discussed to chosen organization and benefits and demerits of innovation funnel
The innovation team of Samsung conducts an investigation before make improvement in
any product and process. This has clear understanding regarding all market trends. Samsung
Company put its efforts into innovation. Its project innovation team is born out of requirement to
have incubator group in order to work with each unit of business to give the high market insight
(Lee, Olson and Trimi, 2012).
Benefits of innovation funnel
Developing product range- Innovation will almost definitely advantages Samsung
business with a single product or a limited range of products. A wider range of products offers a
chance for higher revenue and sales, and also reduces shareholder risk.

Add more value- Efficient innovation is an excellent way to develop a product with a
single selling plan, a product that the consumer is willing to pay for and which allows a business
to distinguish itself from its rivals.
Better quality- The main focus of Samsung is that customer expectations are likely to
satisfy higher quality goods and services. If they are marketed effectively, revenues and profits
will increase (Metcalfe and Miles, 2012).
Demerits of innovation funnel
Competition- Innovation gives only competitive edge if rivals cannot recreate in own
companies. While patents give legal security, many creative products and processes are difficult
to protect. One danger is that one research-led, creative business uses the initial investment and
lose all just by competing on the coat-tails of progress with a lot of me-too competitors.
Uncertain returns- A great deal of research is speculative and future income and profits
are not guaranteed. Longer the development time frame, the higher the risk of competition
overcoming research
Concept of frugal innovation
Frugal innovation is process of minimizing complexity as well as cost of production and
products. This is related to removing the non- essential features from durable products such as
phone to sell this in the developing countries. The innovative and featured products are main
focuses of the frugal innovation. This lowers the expense of manufacturing new goods, while
preserving their characteristics as well as quality. It helps the organization raise income by
selling its goods to more consumers and also trying to leverage the business opportunities. The
main objective is to maintain quality of the product by reducing the cost to each consumer.
Frugal innovation seeks to bring additional value to the more people at minimum prices. This is
frugal because company requires being easier and very economical without losing quality of
customer experience (Owen, Macnaghten and Stilgoe, 2012). Companies have to deal with
variations in financial and non-financial resources. In order to produce new ideas to improve
results, they must use limitations in another way. This form of innovation is focused on
limitations and can also be referred to as reverse innovation. In order to ensure that companies
benefit more in every situation, organizations use the frugal innovation. A frugal innovation for

companies is useful and necessary because it evaluates current trends and market requirements
through proving new as well as attractive products. This is important to find right approach or
solution to any problems that occur on the marketplace.
Provide examples in chosen organization on the developments in frugal innovation or how
organization has used frugal innovation
Frugal innovation allows consumers to explore business models and change services and
products to offer enhanced services to their customers. Its main objective is to reduce wastage or
harm or some form of product difficulty. This leads to cheaper and quicker creative solutions.
This provides many tools with practical solutions. This is the most important elements of
innovation and is produced by various businesses in the production process. New and emerging
technologies would help boost manufacturing processes and help raise national income in the
future. Consumer buys cheaper, low quality goods at the premium cost and helps to raise
people's living standards. Frugal innovation utilizes a variety of techniques to maintain its area
through altering the various goods so that individuals who face restrictive affordability can better
access services (Yoo and et. al., 2012). Frugal innovation in Samsung is necessary because the
resources are scarce increasingly and it is looking for the ways to do with the less. With the help
of frugal innovation, Samsung firm comes with the low cost mobile phones with the optimal
functionalities. There are some developments in frugal innovation mention below:
Reducing manufacturing cost- Samsung businesses are using this strategy to high their
cost of production and to concentrate on the fair price of products. It buys from suppliers raw
material at a set price, and helps its customers to make services available at a reduced price.
Additional features in existing goods- Using this technology or strategy, the firm can
maximize its processes and services. It helps to ensure the efficiency of services through adding
certain further features as well as specifications.
Emergence of advanced technology- Samsung company uses the advanced technology in
produce services and products. Technology leads to the production of better service and products
quality at low costs.

Frugal innovation plays significant role in improving business performance, helping
organizations in attaining the business objectives within a given time duration. Due to of the
lack of market strategy, increased competition, an rise in alternative goods prices, and several
other factors, major corporations like Samsung face tough times . Companies think about frugal
innovation in this kind of situation to boost their corporate efficiency.
For an example- The Samsung organizations have used this frugal innovation to enhance
business sustainability on the market. This company uses this innovation to reduce both errors
and waste during production and products (Datta, Mukherjee and Jessup, 2015). This is really
important for Samsung managers to think intelligently about how this helps efficiently introduce
innovation. In addition to this, an innovation should be easy so that businesses can support more
clients.
Benefits of frugal innovation to chosen organization
Frugal innovation seeks to bring greater value to more people at minimum prices. This is
frugal because company requires being easier and incredibly cheap without losing the
consistency of user experience. Frugal innovation turns the limitations in resources whether
institutional, financial and material in to benefits through using them in the new methods. It can
be attained by minimizing product complexity of product or process of manufacturing and
eliminating the not necessary features (De la Mothe and Paquet, 2012). There are some
advantages of frugal innovation in terms of organization mention below:
Creating value- Frugal innovation is something of an innovation with the limited
resources within broad innovation. Frugal innovation is a result of corporations' attempts to do
more. This is an economically cost-effective process designed to create better, quickly scalable
products, services or business models to achieve a significant economic as well as social impact.
Doing better with less- Frugal innovation focuses on developing with fewer and
discovering ways of reducing market uncertainty. Frugal innovation embraces emerging
economies' indigenous innovative capacity while ensuring more inclusive and resource-efficient
growth of Samsung. Frugal innovation is often vastly preferable to developing cheap low-
technology products, but it is not only cheaper. Frugal innovation is pursuing low-tech
approaches that are needed or can be paired with new science and technological boundaries.

5) PROCESS OF COMMERCIALISING INNOVATION
Commercial funnel and the importance to an organization
Commercial funnel is a procurement mechanism by which businesses purchase goods to
consumers. The term also applies to the way a business identifies hires and sells the goods to
purchasers. This is a system by which at the time of sale customers ' perception is changed to
their goods. For order for successful contact to be possible, the views and desires should be
easily decided. This will help clients select the product best from a wide range of alternatives and
also have some creativity in the characteristics of their products according to their requirements.
In this respect, organizational management needs to invest huge sums of money in processes of
this kind in order to meet customers' demands for unique as well as useful product features
(Díaz-García, González-Moreno and Sáez-Martínez, 2015). The commercial funnel is mainly
used by Samsung Company to gain attention of large number of customers and also sustain at
marketplace.
Importance of commercial funnel
Minimize losses amount- New and improved technology helps to optimize the use of
resources that reduce waste and error levels. By increasing production, it increases the profit
margin of Samsung related to the products.
Improvement of quality- Samsung organization is not contributes to the development of
features but also to improving overall quality of goods, invests heavily in the development of
their products. Performance is critical in shaping consumer behavior.
Maintain goodwill- When Samsung provides high quality services and delivers goods to
purchasers on time; the company’s image will be good to its customers.
Improves conversion rates- A better funnel means more precise ads, leading in effect.
More leads, more desires and more clients, eventually. Another explanation for that conversions
may come from the 360 degree view on sales team on how every lead goes by funnel, time this
takes to become consumer and conversations company have with client. This lets them develop
own sales pitch and refine them (Etzkowitz and Zhou, 2017).

Predict the sales volume- Internet marketing requires numbers. They can contribute to
enhance an existing strategy and to develop new strategies. A company can forecast its sales
volume with a sales funnel as this shows how so many clients go to next level. Over long term, it
can be tremendously beneficial.
Process of new product development (NPD)
New product development is procedure of marketing new product. Business may have to
participate because of changes in customer tastes, growing rivalry and technical advancements or
take advantage of new possibilities. Innovative companies are effective in understanding what
audience needs, enhancing intelligent goods, and creating new products that fulfill and meet the
standards of their customers. A product process is differs in every existing scenario in terms of
its design features, utility and durability and so on introduced into the market. The needs and
expectations of consumers to shape a connection to them need to be measured in order for their
new product to thrive on the market (Dutta and Folta, 2016). The steps involved in process of the
new product development mention below:
Idea generation- In first step, there is a systematic look out for the new product concepts,
company essentially interested. To find worthy of pursuit a company must generate several
ideas. Markets, buyers, promotions, distributors and manufacturer are the key outlets for new
product ideas. It begins mainly with searching and creating ideas that can come from different
sources such as the R & D department of companies, market and customer preferences, rivals,
focus groups, staff and sales people.
Idea screening- The goal of generation ideas is to build wide variety of ideas. The aim of
this stage is just to reduce them to those that truly deserve to be followed. Samsung have
different approaches from product development boards to systematic market research. A
checklist can be used in this stage to evaluate each concept on the basis of the necessary
conditions for the product to be launched into the market effectively and its relative value.
Management will determine how well it suits the marketing and knowledge skills and other
strengths of company. At last, management can achieve an overall evaluation of the capacity of
the organization to deliver product (Hausman and Johnston, 2014).

Conduct testing and development- An interesting idea must be transformed into a design
for the company. A new product is a comprehensive version of the ideas presented in a specific
customer sense, in contrast to one which is an idea for a product that the business might consider
itself as marketing to clients. That is another distinction from a promotional picture of an real or
future promotional viewed by customers. When ideas are created, they have to be symbolically
or visibly checked with customers. A word / image can be appropriate for some concept tests, but
a physical display would improve the concept test’s reliability.
Test marketing- In a competitive market, the promotion of the commodity programme is
necessary. The business uses a marketing blend before the product is introduced to promote the
product. In view of the market, the company uses marketing mixes of 7p, including product,
price, place, promotion, process, people and physical evidence. When products are not on the
market, sales person discovers the reason for their failure after launching by getting input from
people. The business then makes improvements to consumer ion programs and products and
once again launches them on the market (Ke and et.al., 2015).
Commercialization- This step is about market entry of product and this will be costly for
growth, sales and promotion. The organization would have to agree on the date and place of the
launch. It is very much reliant on the organization's ability to handle risk and scope of
distribution network.
Take review of market performance- Samsung will take review of new products market
results. Company will assess their performance and prevent improvements in market plans,
objectives and procedures that lead to the success of business.
Innovation business case which highlights the following:
(a). The innovative case using innovation source and the NPD framework- Business case
both an effective and acceptable strategy used by Samsung firm to benefit and draw huge
numbers in order to buy services or products. The system is efficient and necessary. Its primary
objective is to select an efficient business case and to resolve all challenges during process of
production. The innovation cases related with the new product development Framework in order
to introducing the new Product at market place. In order to launch new Product at market place
in a successful manner, there is a need to Innovative case to an organization. As Samsung is a

large size organization and its main focus is on introducing the new Product at market place and
also attracts the large number of customers (Drauz, 2014).
(b). Access to funds - Samsung need to grow as their goods and services are produced so
that customers are given sufficient attention on the market. Furthermore, the company must fund
itself on the basis of defined workplace activities. Managers must manage investment for their
development purposes. There are several various financial assets. A corporation offers funds to
its speculators and bondholders. Based on their past experience, they offer financial support for
the company.
(c). Market development - Market development is strategy for growth which identifies the
current products and develops the new market. Non- purchasing customers in presently targeted
segments are targeted for market development strategy. In new markets, it also addresses new
consumers. For informing the customers about the new product, Samsung used the different
forms of advertisements and promotions for an instance social media, television, newspapers and
many others. In order to launching the new Product at market place, Samsung company needs to
developing the effective marketing strategy in order to attract the large number of customers and
all about the will test the new product to provide them with customers and they will give the
people about it (De la Mothe and Paquet, 2012).
(d). Evaluation- In this step, collecting all the necessary resources are important because
manager should evaluate them and also search the alternate methods in order to finish in the
products. Under this, manager of Samsung needs to identify the effectiveness of the product
difference focus on reviews and feedback of customers at marketplace.
(e). Improvement strategy- Any policy or process in a work environment that helps focus
on how things are done regularly is a continuous improvement strategy. This could be
accomplished through regularly improving or focusing on improving the process. On the basis of
launch of the new product, Samsung used to make improvement in its new product by using the
effective improvements strategies. To make improvement in the new product, this helps in the
positive impact on mindset of the customer at market place. For improvement in the new product
or process, Samsung can use the Six Sigma improvement strategy this helps in reducing the
chances of errors and also found in the high quality of products.

6) HOW TO PROTECT INNOVATION
Organization can protect their innovation using different techniques
The imagination of mind as an artistic work, a customized symbol and also innovation is
intellectual property that is most commonly used in commerce but is not generally found. This is
usually protected by legislation that allows the public to achieve financial benefits and to
consider the potential of inventing and producing something new. In this case, it provides an
acceptable compromise between the public and an inventor's interest. This is the inventor’s right
to safeguard intellectual property (Gopalakrishnan and et. al., 2015).
Trademarks- This is a symbol that varies between organizations. According to that, the
organization owner placed it signature as mark on certain products. It may be design, word and
logo that authorize services or products. It is also useful to give legal rights to a producer to
distinguish between its works in other places that need to be licensed. It took approximately 6
months for the UK Registry to be developed and it needs renewal every 10 years.
Copyright- It is legal document that helps give creative work, academic achievement, etc.
the creator and the right to sell brands and services. The property is owned by copyright owners.
This is subject to legislation and offers laws on the use of its goods and services. This is not
natural, but expressed in notes, paper and also music. This is a legal right to perform, write,
publish or even record artistic, musical or literary material both attributable and exclusive to the
originator over fixed years. The right to defend intellectual property is a civil privilege of the
owner. In addition, the copyright law establishes original content creators and even rights to be
build them effectively.
Confidence- It means the protection of trading secrets and sensitive secrets through
automation. It requires organization’s income and accounting data on employee pay of the
corporation, which it is difficult to disclose before other organizations.
Trade secrets- In it, Personal information and data cannot be revealed to an entity in
order to support its greatest competitors on the market. This can be a formula, procedures and
information of other companies (Hashmi and Biesebroeck, 2016).

Patents- This affects an invention's exclusive property. According to this, the
Government authority sets a limited period of time, typically the only right to exempt others
from the successful production, use and selling of the invention. It is the owner’s legal
possession which lets decide how and in what way to use it. Anyone that wants to use property
must then take the owner's permission and patent.
These all are the effective techniques to protect the intellectual property. The products of
Samsung are covered through one or more of US patents.
Strengths and weaknesses of each technique identified above
There is some strength and weaknesses of each technique that helps in protect the
intellectual property mention below:
Copyright
Strengths Weaknesses
Protects the production and sale of knock-off
goods against copycats.
Copies of goods identical, but with other re-
designs do not prevent "intelligent" copying.
In many other industrialized countries,
copyright could be imposed under GATT
Treaty.
When they find that their work is "fairly used,"
people will legally misuse it. Fair practice is
for research, criticism and the journalism.
It Protects the "creative work" without
permission from using others. If they do, they
can be brought to justice (Kalaignanam,
Kushwaha and Swartz, 2017).
Employer is copyrighted to this product or idea
when creating something as an employee.
Table 2: Strengths and weaknesses of copyright
(Source: self-created)
Trade secrets
Strengths Weaknesses
There is not any registration cost involved and
the trade secrets are not registered with
Either by fraud or by error, company can loss
the trade secrets.

governmental body.
This is possible to license and also sell the
trade secrets.
A remedy, in particular internationally, is also
hard to obtain.
There is no limitation in duration. Ownership is hard to prove
Table 3: Strengths and weaknesses of trade secrets
(Source: self-created)
Patents
Strengths Weaknesses
Before this is finished, inventors can file
temporary patent application protecting
patentable invention.
If a lawsuit is filed, the defendant also argues
that patent is not valid. There are several
various ways to show that the product is not
unique or unobvious. This can be suspected.
Patent proprietors can file a patent
infringement suit without permission against
someone using invention. Courts may order
and indemnify the patent proprietor.
Patents last just 20 years and inventor has not
any legal rights for invention after they have
expired because they are inside the public
domain.
Inventors can be covered by patent in all other
countries through Patent Cooperation Treaty
and Paris Convention through timely filing of
requests and payment of fees.
Patents are approved for 1 to 3 years. Any
application is allocated a patent examiner and
examiner decides if the patent complies with
technical criteria and is fresh and unobvious.
Table 4: Strengths and weaknesses of patents
(Source: self-created)
Trademarks
Strengths Weaknesses
First individual to use them is the property of
the trademarks. If created, a company may
submit an application for the purpose of use to
PTO.
Where a registered trademark has not been
listed on the PTO, lawsuit against infringer
may be handicapped.
Anyone who uses or initiates the same label Unable to protect unusual, generic and

would be called a "willing violator" even by
courts.
confusingly same marks, weak marks and
operational characteristics, trademark
legislation cannot (Calabrese, 2016).
Simple protection of a label can be obtained
without prior approval from federal courts
pursuant to Latham Act.
When the owner of a trademark is not harmed,
the court is entitled to allow the claimant, in
very specific conditions, to use mark as well.
Table 5: Strengths and weaknesses of trademarks
(Source: self-created)
7) SUMMARY AND CONCLUSION
It can be concluded from this report that innovation is a key to success and companies
such as Samsung develop the innovative goods to meet their customers ' requirements. This
study has shown that the invention is distinct than that of innovation and businesses rather than
invention incorporates innovation. In order to secure innovation within the organization, leaders
play a critical role. Positive organizational culture supports teamwork and mitigates the potential
risks associated with business incorporation. This selected organization, through its strong and
well-developed mission, seeks to promote ongoing innovation. The organizations consider
the frugal innovation and the development of new products to achieve these goals even in
challenging situations. This organization's innovation funnel lets them assess their creative
strategy effectively. This company has developed commercial funnel to market its creative
goods. There has been discussion about built a business case and are exploring mechanisms
promoting information and intellectual control to shed light on this organization's creative
approach.

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Online
INNOVATION AND 4Ps OF INNOVATION. 2016. [Online]. Available through :
<http://www.bizexcell.com/innovation-and-4ps-of-innovation/>
Innovation Funnel. 2016. [Online]. Available through:
<https://www.cleverism.com/lexicon/innovation-funnel-definition/>