Innovation Management and Performance

This assignment delves into the world of innovation management, examining its impact on company performance. It draws from a range of sources, including academic journals and books, to provide insights into the best practices and models for managing innovation effectively. From the triple helix model to frugal innovation, various concepts are explored in relation to their potential to enhance company performance.

INNOVATION AND
COMMERCIALIZATION

Table of Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Innovation and invention........................................................................................................3
P2 Leadership, team work, organizational vision and culture shape commercialization and
innovation....................................................................................................................................4
M1 Different source of innovation..............................................................................................7
D1 Innovation is embedded, developed and measured in company............................................8
LO 2.................................................................................................................................................8
P3 4Ps of innovation and use of innovation funnel to shape and examine innovative ideas.......8
P4 Developments in frugal innovation........................................................................................9
M2 Apply innovation funnel in context of organization.............................................................9
M3 Role of frugal innovation in Samsung.................................................................................10
LO 3...............................................................................................................................................10
Covered in PPT..........................................................................................................................10
LO 4...............................................................................................................................................10
P7 evaluate the different tools that organization use to develop, retain and protect knowledge
and intellectual property............................................................................................................10
M5 Evidence based on evaluation of different tools in business environment..........................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation is defined as path of developing, visualizing and executing ideas into
production of products and provide services that makes values. On the other hand,
commercialization is process of creating new goods (Etzkowitz and Zhou, 2017). The present
report is based on Samsung electronics organization. It explains innovation and its significant to
company in comparison with invention. Define vision of company, culture, leadership and team
work can shape commercialisation and innovation. This report justifies, 4ps of innovation, how
innovation is developed and measured in company and also clarifies development of frugal
innovation in firm. Furthermore, explain different tools that company use to retain, protect as
well as develop intellectual property and knowledge.
LO 1
P1 Innovation and invention
Innovation-
It is the procedure of doing something new and different from the other, in simple words
innovation is new idea, new imaginations and creative thoughts in form of methods and devices.
It can be considered as application of fine solutions which match with the new requirements,
present market needs and inarticulate needs. Innovation takes place through supply of effective
services, products and other things made for target market. For example, Samsung is South
Korean multinational company, they comprise many affiliated businesses. Organization is well
known for its innovation, they develop the new concept of development procedure that all
business areas execute and implement when innovating new services or goods (Berry and Berry,
2018). It is one of the best organization, still remained in top from their entrance to the world of
smartphones. Company continuously innovate range of smartphones, like Samsung Galaxy S9
Plus, Note 8, A9 etc. Samsung electronics inspire the world through creating innovative
technologies that helps its customers to live their life's happily.
Invention-
On the other side, invention is concept of creating new thing that someone has made,
invention is the procedure which has been made up and also define as the procedure of making
up something for commercial purpose. For example, Samsung puts efforts into invention and
innovation, NCD process is implemented in company through project innovation team

effectively. This team help to made the best solutions and develop production concepts using for
commercialization.
Difference between invention and innovation-
Innovation Invention
Innovation occurs when company improves
and makes the significant support to existing
goods and procedures. For example, due to
globalization Samsung drives towards
innovation, they innovate smartphones,
memory system, LED solutions and digital
appliances.
Innovation is primary stage to bring about
goods, it deals with bringing the distinctive
approach and new ideas to Samsung.
On the other hand, invention is defined as
creation of new process and products for first
time. For example, Samsung invent Micro bit
that is an open source hardware ARM based
embedded system. Samsung and other firms
are the developer of this software that drives
market in new way towards growth.
As compare to innovation, invention deals with
procedure of how company goods and services
bring it to clients actually.
Innovation is crucial in company because it offers business border in penetrating markets
faster. It give the great connection to develop market, which lead to large opportunities.
Innovation catalyst for success and growth of Samsung and help to adapt new techniques and
grow in marketplace. Company that innovate create efficient work procedures and have better
performance and productivity.
P2 Leadership, team work, organizational vision and culture shape commercialization and
innovation
Organization vision shape innovation and commercialization-
Samsung is the world's biggest manufacturer of electronic devices, through
transformative technologies they want to provide consumer power to explore new experiences.
They want to deliver the best quality products and improve global community that enhance every
day activities of people's. It is technology conglomerate firm, whose vision statements centring
on innovation for international social development and betterment through technological goods.
Organization long term vision refer to inspire world with modern technologies and contributes to
economic prosperity by creating the new future.

Company research is actively conducting R&D to determine new future progress area
and protect advanced technologies for their goods to improve people's lives and create new value
(Dogan, 2019). According to their vision statement, they drive business to new heights in
improving existing goods offering and providing new products. In addition, they follow vision
and expand their business at global market in order to reach customers. They make some
innovation in range of smartphones and add some new features based on current market trends
and consumer needs as well. Through innovation and invention, company shape
commercialization, they can earn more profit and gain higher position within market place.
Leadership-
Leadership is the technique of managing the organization according to organizational
objectives and goals and then become growth and predetermined behaviour and norms of
Samsung. Situational leadership style is followed by Samsung electronics, as situational
leadership positively related to leader. Leader and CEO of company need to have clear vision
and mission, objectives of firm, these components help to guide group of people in organization
to commercialization and innovation. With good leadership style, a leader can be able to guide
group of people and shape innovation and commercialization. For example, Samsung leaders
follow situational leadership, they understand needs of innovation and provide appropriate
guidance to their workers about how to implement change and make some innovation in existing
range of electronic products. Leader with Situational leadership, support and motivate employees
and help to create positive work environment that increase productivity and drive staff towards
commercialization.
Culture-
Samsung has innovative centred organizational culture, it is the part of organizational
design which emphasise workers skills, capabilities and knowledge for innovating organization's
technology goods such as laptop and smartphones (Voegtlin and et.al., 2019). Their
organizational cultures include core values, customs and traditions expected and applied in
behaviour of workers.
Charles Handy's model of organizational culture, defined four different types of culture
that help to shape commercialization and innovation of Samsung.
Power culture-

When power in company remains in hand of only one person and they can take decisions
without including other it negatively impact on overall business. If only one person in Samsung
enjoy special privileges, make decision and have liberty to express their point of views, it make
negative effect on other staff members. They get disappoint and demotivate in this types of
working environment and culture which effect on their performance and abilities of innovation.
When other people's do not have freedom to work accordant to roles, they cannot be able to
make innovation and shape commercialization in company.
Role culture-
According to role culture, management define all the staff member its roles and guide to
perform accordant to it which help to accomplish goals and achieve business objectives. In this
type of culture, workers decide what is the best they can do which drive them towards innovation
and commercialization.
Task culture-
This culture is form when group of people in company is formed to address particular
projects growth and specific issue related to innovation. When Samsung adopt task culture they
can be able to shape innovation and commercialization (Alexander and Joe, 2019). According to
this culture, power of decision making is divided into team, each and every team member
contribute to accomplish task and equally support in decision making procedure. It impacts
positively on organization productivity and profitability, in task culture management divide task
between all the team members where they work hard to complete project in most innovative way
which is beneficial for business.
Person culture-
When Samsung can implement this culture, workers feel that they are essential than its
company. According to person culture, employees concerned about themselves rather than
organization which is not suitable and appropriate for business growth. Staff come only for
money, they never get any kind of attachment to complete work which make negative impact on
firm and innovation of new products.
Teamwork-
Working in team allows brainstorming and increases collaboration, as positive results
productivity improves and more new ideas is developed. According to Bruce Tuckman's team

building and development model, effective and strong team can shape innovation and
commercialization. This model is based on 4 stages, that are:
Forming-
When team members learn about challenges and opportunities, they can begins to
manage task related to innovation. Leaders provide appropriate guidance to workers that help to
build strong team and enhance their abilities to innovate something new.
Storming-
According to this stage, team starts to interact with others and gain trust which is
beneficial and helpful to develop team. When team members start to work with each other they
can complete task and innovate new products effectively.
Norming-
Leaders aware team about competition in market, and divide accountability to work for
success of business. Through equal division of work team members can be able to innovate
goods and make something new which is quite different from competitors.
Performing-
After identify competition, get the best support of leader and established roles in
workplace, company build strong team that help to achieve common business goals and able to
develop innovation.
M1 Different source of innovation
Market and industry structure change-
Changes in regulation and product lines are the different source of innovation that drive
business towards them (Bhatti and Prabhu, 2019). Samsung continually be on watch for any kind
of change which make them able to innovate new things.
Changes in perception and mood-
People perception and demands is changes, that drive business towards innovation.
Changes in way people live life, force company to adopt these change and produce products
according to it.
By implementing change company can foster and develop innovative environment, which
is beneficial for them. When Samsung understood need to consumer they can work according to
it and innovate goods as well as services that meet with people expectations.

They can develop culture of innovation, through motivating workers and force all of them
to take participation in decision making procedure in which they can take part and share ideas
related to innovation.
D1 Innovation is embedded, developed and measured in company
Innovation is developed in Samsung when they identify short term goals and explore the
activities effectively. If the worker performs effectively and share their ideas of innovation they
can embedded innovation in company. Management within organization demonstrate ability in
employees to develop and create profitable idea for innovation.
LO 2
P3 4Ps of innovation
Creation deals with procedure by which company thinking new services and creates new
ideas. 4Ps of innovation is mix of creativity which is used by Samsung.
Paradigm-
It is planned procedure by which firm faces changes of creating innovative ideas,
Samsung plan how to innovate idea in changing situation. In technological sector, radial change
in not necessary which less effect on company.
Product-
It is the main element of Samsung on which future business objective and goals is
dependent. In order to attract consumer toward innovation of company, they can sell unique
products and design it with some additional features.
Process-
It is the term of innovation refer to production and development of new goods for market
and making it efficient and cheaper for consumers.
Position-
Position of new product or innovation deals with advertising activities that Samsung
performed to build strong relation with its consumers.
Innovation funnel of Samsung-

Innovation funnel is process of creating and developing of new ideas by describing stages
by which plan can be better for providing good services to people. Throughout collecting
information of consumer, Samsung can deal with how innovative concept is best suited for
people wants and needs, then it comes to screen idea with different thoughts, decide which is
best for implementation. Innovation funnel help business by removing extra things and provide
essential thought to actualize idea of innovation into action.
P4 Developments in frugal innovation
FI is the process of reduction cost as well as complexity of goods, it refers to removing
non-essential elements and features from durable products like phone or car and other electronic
products in order to sell in developing nations effectively. In other words, FI is conception which
Illustration 1: Innovation Funnel
(Source: Innovation Funnel, 2017)

urges company to act to limitations in resource whether material and profitability turn into
innovative ideas.
It can have used in Samsung company, where they can reduce extra expenses investment
in unnecessary things (Ratten, 2019). Through frugal innovation company can reduce
unnecessary features in their smartphones and deliver the best quality products to consumers.
SME cut traditional advertising in favour of low cost alternatives, cut extra expenses of
employee, reduce cost of extra expenses, remove additional and non-important feature in their
products which make them frugal.
M2 Apply innovation funnel in context of organization
Criteria in innovation funnel management procedure-
It is essential that IFMP is not limited to generate new process and innovations, it is
ongoing projects that constantly ruined by means of previously developed criteria to assure that
they work optimally.
Innovation funnel management process needed that each idea continuously and be
carefully compared against number of rules, criteria and filters. Development of innovation
funnel in company is based on three stages-
Mouth of funnel-
In this stage, Samsung increase their knowledge and information based on innovation,
they need to collect data about competitors, existing partners and similar goods in market.
Narrowing funnel-
In this stage, company assure that chosen idea is tuned to their objectives that were drawn
up when firm is started.
Narrowed part funnel-
In this phase of IF, company form innovation and used to deliver quality.
M3 Frugal innovation role in Samsung
FI role in company is to create and capture the value in emerging markets. FI low down
the prices of products and retain people with firm for long time, it contributes to design improved
goods. Their role is to provide the best thinking platform, along with frugal innovation Samsung
can gain competitive advantages and offer their product globally.

LO 3

LO 4
P7 evaluate the various tools which organization use to protect knowledge and intellectual
property
Intellectual property means a creation of mind sets like literary, inventions and artistic
works, symbols, name and images used in commerce. Instead of commercializing the invention
and creation by the Samsung company, it is considering taking other ways of exploiting its
intellectual property rights. This knowledge and information is very important for company in
order innovate new product safely. Key IP tools are as follows:
Patent:
It is a right which is granted for an invention but before applying this it is important to
consider whether a it is right for the invention or not. That is most difficult from IP to get and
expensive to enforce. This provides a patent owner Samsung to how and whether the invention
can be used by others (Before apply patent, 2019). The main advantage of patent is to the limited
competition for designing new product can assist a business in limiting competition. Other hand,
through that have created potential profits for Samsung because not only patent holder sold
products but the business also has licence the patented product or idea in order to earn money.
Copyright is the judicial term which is used to describing each rights to creators have
over their literary to work. This provides proper right to oppose any offender who claims the
ownership of that particular work. The copyright create advantage for Samsung in invention of
new product and services. This provides various benefits like extra benefits delighted in by the
infringer or constitutional harm. This is more suitable for innovation in Samsung because it is the
secure statement of an idea.
Those are the IP tools which are used for developing, retaining, protecting knowledge
and intellectual property. Those are help to manager of Samsung for safe and secure innovation.
M5 Evaluation of various tools which are used in business environment
The intellectual property rights and tools highly helped to business and its growth in
effective manner. These tools are very beneficial for Samsung this provides the various
advantages and benefits which are as follows:
Intellectual property have right to protect company processes, inventions and concept
which is crucial to maintaining the brand and competitive edge. For example: copyright
protection is automatic (Hossain and Kauranen, 2016). Registering copyright with the UK

copyright ownership of that particular invention, copyright office creates a public record which
are confirming claimed copyright ownership of work. However, patent involves a formal,
application. This can protect a design or plant species.
CONCLUSION
From above it has been summarized, differences between invention and innovation.
Vision of company, its culture and teamwork helps to form commercialization &innovation in
Samsung. Internal and external sources of innovation help company to access funding which is
beneficial for new product development. Furthermore, innovation funnel plays essential role in
organization as it help to represent significant resources. Company use different types of tools
that help to protect intellectual property.

REFERENCES
Book and Journals
Alexander, B. and Joe, T. eds., 2019. Managing innovation: internationalization of
innovation (Vol. 34). World Scientific.
Berry, F. S. and Berry, W .D., 2018. Innovation and Diusion Models in Policy Research.
In Theories of the policy process (pp. 263-308). Routledge.
Bhatti, Y. and Prabhu, J., 2019. Frugal innovation and social innovation: linked paths to
achieving inclusion sustainably. In Handbook of Inclusive Innovation. Edward Elgar
Publishing.
Bossle, M. B. and et.al., 2016. The drivers for adoption of eco-innovation. Journal of Cleaner
production. 113. pp.861-872.
Cadeddu, S. B. and et.al., 2019. Frugal Innovation and the New Product Development Process:
Insights from Indonesia. Routledge.
Dogan, M., 2019. Creative marginality: Innovation at the intersections of social sciences.
Routledge.
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innovation and value creation. Journal of business venturing. 31(1). pp.39-54.
Etzkowitz, H. and Zhou, C., 2017. The triple helix: University–industry–government innovation
and entrepreneurship. Routledge.
Hossain, M. and Kauranen, I., 2016. Open innovation in SMEs: a systematic literature review.
Journal of Strategy and Management. 9(1). pp.58-73.
Küçükoğlu, M. T. and Pınar, R. İ., 2015. Positive influences of green innovation on company
performance. Procedia-Social and Behavioral Science. 195. pp.1232-1237.
Lichtenthaler, U., 2016. Toward an innovation-based perspective on company
performance. Management Decision.54(1). pp.66-87.
Martínez-Costa, M., Jimenez-Jimenez, D. and Castro-del-Rosario, Y. D. P., 2019. The
performance implications of the UNE 166.000 standardised innovation management
system. European Journal of Innovation Management.22(2). pp.281-301.
Ratten, V., 2019. Frugal Innovation. Routledge.
Tidd, J. and Bessant, J. R., 2018. Managing innovation: integrating technological, market and
organizational change. John Wiley & Sons
Voegtlin, C. and et.al., 2019. Grand societal challenges and responsible innovation. Journal of
Management Studies.

Online
Before apply patent. 2019. [Online]. Available through: <https://www.gov.uk/guidance/before-
you-apply-for-a-patent>
Charles Handy Model of Organization Culture. 2018. [Online]. Available through:
<https://www.managementstudyguide.com/charles-handy-model.htm>
Innovation Funnel. 2017. [Online]. Available
through:<https://www.toolshero.com/innovation/innovation-funnel/>