Innovation and Commercialization Sample Assignment

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