Innovation and Commercialization Report

This report analyzes the concepts of innovation and commercialization using Ensoft, a UK-based software company, as a case study. It explores the importance of innovation, the role of organizational factors in shaping innovation, and the application of various frameworks like the 4Ps of innovation and the innovation funnel. The report also discusses frugal innovation, the commercial funnel, New Product Development (NPD) processes, and tools for protecting intellectual property. It concludes with a business case for Ensoft's new inventory control software and strategies for accessing funding.

Innovation and
Commercialization

Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
P1 Innovation and its importance to organization in comparison to invention.......................................3
P2. Ways by which organizational vision, leadership, culture and teamwork can shape innovation and
commercialization...................................................................................................................................4
TASK 2..........................................................................................................................................................5
P3. 4Ps of innovation and explain the use of innovation funnel to examine and shape innovative ideas
.................................................................................................................................................................5
P4. Development in frugal innovation and examples of how it is used in an organizational context......6
TASK 3..........................................................................................................................................................6
P5. The importance of the commercial funnel and the application of New Product Development(NPD)
processing for commercialization of innovation......................................................................................6
P6. Innovation Business Case for Ensoft for accessing funding...............................................................7
TASK 4..........................................................................................................................................................8
P7. Different tools to protect, develop and retain intellectual property and knowledge .......................8
CONCLUSION...............................................................................................................................................9
REFERENCES..............................................................................................................................................10

INTRODUCTION
Innovation refers to creation of new ideas and imagination in the form of method or
device. It refers to applications or technique for better solutions which meets to requirements and
needs of an individual (Stokes, 2011). It is the process of converting ideas or thoughts into goods
and services to satisfy consumers’ needs and wants. This report is carried out in the context of
Ensoft which is a UK based company. It is a software company in which approx 70 engineers are
performing their activities. Along with this, process required by commercialization and range of
methods protecting ideas is also evaluated under this project. This helps company in achieving
their goals and allure more consumers towards company.
TASK 1
Overview of company
Ensoft is a software company which specializes and develops all aspects of networking
software. The company offers or deliver networking solutions to its consumers or clients at
affordable rates. More than 200 cities are using software applications produced by company.
They have also introduced many software packages through out the country. It was established
by Dr. Lymon C. Reese in 1985 in UK. It designs and build tools that increase quality and
security, manage variation, cyber-physical systems, etc.
P1 Innovation and its importance to organization in comparison to invention
Innovation is the process of translating ideas and thoughts into valuable goods and
services which consumers buy to satisfy their needs. Innovation also helps various companies to
develop or launch new products from existing product at marketplace among customers. In this
concept of innovation, company produces new products with help existing goods and efforts of
employees. On the other hand, invention is the method, unique device or overall product
development process. It is the process of creating a product and introducing method for an initial
time.
Importance of innovation
Innovation helps a company to achieve success and growth. A company needs to be
innovative to stay competitive at market place. It helps company to create dynamic products by
implementing new ideas or with existing products (Ries, 2011). It is a new method of production
of goods. In context of EnsoftEnsoft, innovation also helps company to produce new products
with existing products to satisfy its consumers. It helps company in achieving their goals and
objectives in allotted time frame. On the other hand, invention refers to launching or introducing
new product at market place which has been introduced before.
Basis Innovation Invention
Concept Innovation is the concept of
practical implementing of
new ideas.
Invention is the concept of
original ideas and inventing
new products.
Skills Innovation is a set of Invention is a set of scientific

strategic, marketing or
technical skills. It is
concerned with various
combination of products and
processes.
skills. It is concerned with
single process or product.
P2. Ways by which organizational vision, leadership, culture and teamwork can shape innovation
and commercialization
Innovation refers to creation of new ideas and imagination which helps company to
produce new products from existing one. In context of Ensoft, it is important for company to
clear vision and objectives to achieve goals. It is also essential for leaders to motivate and
encourage employees so that they can give their best. In addition to this, teamwork and culture of
organization is also helpful for company to shape innovation and commercialization with of
increase their profit margins. Thus, some ways which can shape innovation and
commercialization are as follows:
Organizational vision: For success and growth of company it is important for CEO of
company to have clear vision, goals and mission of company. This will help team members to
achieve their goals and company’s vision to commercialization. In Ensoft, the CEO of company
also focus on vision and shape innovative ideas to produce products which helps consumers to
satisfy their needs. The vision of Ensoft is to create company where bright engineers can perform
their activities by accepting challenges all time.
Leadership: Leaders of company also plays an essential role to shape innovation and
commercialization. They have a clear vision of future of business and goals for long term. They
also maintain coordination and trust with employees of company (Sawyer, 2011). The leaders of
Ensoft also helps company in attaining goals and objectives in allotted time frame. They give
shape to innovation and commercialization by their innovative and creative ideas.
Culture: Organization culture refers to norms, attitudes of employees of company and
how things are going in business. It is an important part of company which can affect employees
and their performance. Different cultures of employees in company also affects innovation and
commercialization of products or goods. In Ensoft, the different lifestyle, attitudes, beliefs, etc of
employees also affects company’s management or innovation and commercialization.
Teamwork: In this, the workers of company perform their jobs in groups or teams to
achieve goals and objectives of company. They work on a common and specific tasks to
accomplish it on time. They solve their issues commonly by taking help of each other and
sharing information and details (Ordanini and Parasuraman, 2011). Teamwork is also helpful for
company for shaping innovation and commercialization. They innovate and commercialize new
products from existing products by putting their efforts. They also provide best services with
innovative ideas to its consumers which helps company to achieve their growth and success. In
this way, teamwork is helpful for Ensoft and shapes the process of organizational innovation and
commercialization.
In this way, organization culture, teamwork, leadership and vision shape innovation and
commercialization. This also helps company to produce new and innovative products to satisfy
needs and demands of consumers’.

TASK 2
P3. 4Ps of innovation and explain the use of innovation funnel to examine and shape innovative
ideas
Innovation is the process by which organization creates new and innovative ideas and
products from existing products. In this, there are 4Ps of innovation given by John Bessant and
Joe Tidd. The 4Ps of innovation or innovation mix is used by Ensoft for creation of new products
and satisfy needs to consumers by fulfill their desires.
 Paradigm: This is the first innovation mix used by company. It refers to planned method
or concept by which company faces changes done by innovative ideas or imaginations
(Goldberg, 2013). It also considers how a business all activities by facing new challenges
and extortions. In context of Ensoft, the manager of company used this process to faces
challenges and situations. They plan their business in such a way that it helps them to
overcome with situations and deliver goods and products to its consumers by satisfying
their needs.
 Product: This is an item or finished goods which company offers to its consumers to
satisfy their needs and demands. In this company also takes various initiatives by
producing valuable goods. They also manufacture products with their innovative ideas
and imaginations for their existing products at affordable rates. Product is an important
element of 4Ps in innovation and commercialization. In case of Ensoft, the manager of
company also produces new and innovative products to fulfil demands of consumers
(Camisón and Villar-López, 2014). They also produce products in affordable rates form
their competitors to stay at top at market place and to attract more and more consumers
towards their company. So, product is also an important factor of innovation and
beneficial in increasing sales turnover and revenues.
 Process: It refers to the method of preparation new products and process of delivery of
goods to consumers. Process is also an important factor in innovation mix which helps
company to reach their targets efficiently. It is also considered by the manager of Ensoft
to fulfil service users demand. It is important for company to use effective method of
preparation of products. They should also look after the process of delivering products to
its users. The process of delivery should be shorter which increase possibility of success
and growth of company. On the other hand, if delivery process is longer than it will
reduce success and revenues of company. So, it is essential for organization to focus on
delivery process and systems of production.
 Position: This is the last but foremost factor of innovation mix. The position, reputation
and image of company is important for success and growth for longer period of time at
market place. By this factor consumer will also attract towards business enterprise.
Innovation and process of commercialization also assists company in making their
position at market place among consumers.
Innovation funnel: It refers to the process of creating new ideas and imagination by describing
stages of ideas which can be best suited in providing better and valuable services to consumers’.
There are different types of imaginations and funnel by which ideas are driven to maximize

company’s profits and sales turnover. In context of Ensoft company also uses different process
and techniques to increase their profitability margins (Baron and Tang, 2011). The first step of
process of innovation funnel is to collect information which helps in dealing with demands and
needs of consumers. The other step is screen the ideas, considered to be the best idea
implementation. In this way, company use these steps to fulfil needs of consumer’s with of
increasing their revenues and sales margins. Innovation funnel used to examine innovative ideas
and shape to employees through strategic thinking. It is essential for company to guidance or
provide training to workers about concepts and plan of their objectives. Strategic planning is
considered to be the most important practice which is used to build and create innovative ideas in
employees minds.
P4. Development in frugal innovation and examples of how it is used in an organizational
context
Frugal innovation is the process in which company produce products in regard of scarce
resources. This depends on other factors which includes political, social and environmental
factors. These all factors are important and helpful for company in shaping their innovation
process and commercialization (Boons and Lüdeke-Freund, 2013). It is also beneficial for
company because it helps them to produce products by reducing level of wastage and allocating
all resources properly and efficiently. In case of Ensoft, company also considers this process of
frugal innovation which helps company in achieving their goals and objectives in allotted time
frame. This also lead to manage level of production process. Along with this, it assists manager
of business enterprise to deliver products to its consumers according to their requirements. As
tastes and preferences of consumers for products are different so in order to fulfill different
demands of consumer’s company uses process of frugal innovation so that they can deliver
products to their suitable consumers. For example, tastes and choices of people living in UK are
different from other countries. Ensoft launch and introduce products according to demand of
people living in UK and launch different products for other country according to wants of
individuals living there ((West and Bogers, 2014).). So, the process of frugal innovation helps
company Ensoft to deliver products according to requirements of consumers and shaping the
innovation and commercialization process.
TASK 3
P5. The importance of the commercial funnel and the application of New Product
Development(NPD) processing for commercialization of innovation
Commercial funnel: It is also known as sales funnel and this process is used by sales
and marketing companies. It is a course or journey of individual perspective to go through on
way of becoming costumers. In context of Ensoft, this concept help company to measure their
growth and success range between steps of innovation funnel. This process is also essential for
companies because it is helpful for them to measure and analyses activities in which
improvement is required or needed to be done. It is also important for achieving goals and
objectives and perform well.
New product development: It is the process of bringing or introducing new product at
market place among consumers. This concept is used by usually all companies to increase their

sales and profitability margins. It is also essential for company to attract its consumers towards
their products. In case of Ensoft, the process of NPD used by company to stay competitive and at
top position at market place (Govindarajan and Ramamurti, 2011). This assists company in fulfil
demands and desires of consumers and satisfying their needs. By this, business enterprise can
also know their consumers better and makes effective relationship and coordination with them.
Thus, Ensoft is going to develop new product is inventory control software which helps them to
control wastage with utilizing all resources properly. In this context, there are various process of
NPD which are as follows:
 Idea generation: It is the first and important stage of NPD which is considered by
companies to generate new ideas for production. In Ensoft, company gathers and collect
relevant information from market regarding consumers desire.
 Idea screening: It is the process filtering ideas to pick new ones. In this, ideas are
screened to opt new one by dropping old process. This also helps Ensoft to create large
number of ideas with aim of succession and achievement of goals.
 Concept testing: After screening of products, the third stage of NPD is concept testing. It
is important for company to test new product whether they are working properly or not
before launching in market.
 Business analysis: In this, company analyses and decide various concepts which they
should use to introduce their new product that is inventory control software. It includes
marketing, branding and business strategies along with estimated product profitability
and marketing mix of new product.
 Product development: After gone through with all stages, the concept of product
development takes place. This stage of development product results in building up a
prototype of model.
 Test marketing: After developing product, company introduce it in market to get
feedback from costumers and changes are made if required.
 Commercialization: This is the final and last stage in NPD. In this, final product is
introduced among consumers and marketing mix is done. Every minor and major changes
are made before introduction.
P6. Innovation Business Case for Ensoft for accessing funding
Business cases refers to invite new and improved product in market for consumers to
satisfy their needs and requirements. In this investments of funds and money is important for
company for company to bring new products in market (Gawer and Cusumano, 2014). In context

of Ensoft, money is also essential for company for setting plans and development operations of
new product at market place.
Executive summary
Ensoft is a software company which deals and offers various software solutions or
applications to its consumers. The new product which company is going to introduce is
Inventory control application. This software will help company to allocate all resources properly
by reducing wastage. It is a solution oriented program which assist business enterprise to achieve
their desired outcome and increase profitability margins.
Vision: The vision of Ensoft is to create healthy and productive workplaces for young
and old people to perform their activities.
Mission: The mission of Ensoft is to make improvement in well-being, productivity, or
work ability of young and old people.
Objective: To innovate new and attractive web to introduce right people towards
company.
The problem statement: In this, all issues and problems are addressed related to new
product. The problem which can arise is, if operator of software does not able to understand the
correct methods and use of application.
Analysis of the situation: In this section company can analyse the problem or issue
occurring with software . It is important of operator to have proper knowledge about software
before using it. They use read rules of operating and follow them.
Cost benefit analysis: The inventory control software is beneficial for company because
it helps them to control wastage by allocating all resources properly. Along with this, by offering
product in affordable cost more consumers will buy product which assist company to increase
their goals.
Recommendations: In this, company can improve and make changes in its product by
considering feedbacks of their consumers. They can also increase sales by offering valuabel
products in affordable rates.
In addition to this, company uses various methods of assessing funds which are as follows:
 Crowdfunding: In this company raise small amount of money from large number of
people through online sources such as internet. In Ensoft, company considers this
process of crowdfunding to increase their funds to launch new resources and helpful
products in market.
 Angel investors: It is an individual who provides large fund or capital to companies in
exchange of debt or ownership for start-ups and setting business. Ensoft also approach to

angel visitors with aim of growing status of company and fulfilling the demands of
consumer’s needs.
 Venture capital: It is a form of financing or funds required by companies to introduce
new products at marketplace (Jiménez-Jiménez and Sanz-Valle, 2011). These types of
capital help companies in their growth and achievement.
Company researches and analyse whether their new product is liking by consumers or
not. The teams and managers of company together creates new ideas of formulation their
applications at market place. This will help them to attract more customers towards product of
company.
TASK 4
P7. Different tools to protect, develop and retain intellectual property and knowledge
Intellectual property: It is a tool which company uses to save its products from rivals.
By this tool, business enterprise can gain competitive advantage and secure their products form
copying them. Through this, the rivals of organisation cannot copy brand name and products of
other companies (Lichtenthaler, 2011). This will also help managers of company in maintaining
their image and reputation at market place among all consumers. This is also beneficial for
Ensoft to protect its brand from its competitors. There are different tools which company uses for
protection of intellectual property are as follows:
 Copyright: It is a legal tool which uses by company to protect its brand and products
from competitors at marketplace. It is a set of restricted legal monopoly given to bearer of
copyright for their creative work. This is beneficial for company to retain their consumers
by products. In Ensoft, company also uses tool of copyright so that their rivals cannot
copy their products and introduce their own at market place.
 Patents: It is also an important form of intellectual property (Jay, 2013). Patents gives
rights to owner of company to exclude competitors form making, using, selling invention
for limited period of time. In context of Ensoft, company can take actions if their
competitors copy their invention and designs of products. Company should file for
patents rights within 12 months of time period. By this tool, company can secure and
protected from its competitors or rivals of copying their product. This is beneficial for
company to produce and introduce new product at market place securely.
 Trademarks: It refers to the symbol, design or phrase of company's logo which other
organisation cannot copy. By this tool, consumers can recognise company's products and
services they offer to them. The manager of Ensoft also uses this tool to protect its name

of brand symbol from rivals to copy them. This assist company to make strong
consumers base and increase sales turnover.
 Design rights: It is also an important tool which is used by company to protect its
product for others. It refers to characteristics of product such as, shape, colour, design,
texture, etc. created by company (Manso, 2011). This is also beneficial for Ensoft to
secure product form its competitors at marketplace. By this tool, no company has right to
copy design and features of product of other company. This helps company to introduce
more attractive products in market without fear of copy.
CONCLUSION
From the above mentioned report, it has been concluded that innovation and
commercialisation plays an essential role in growth and development of brand's image of
company. Organisation culture, leadership and teamwork is also effective in shaping innovation
and commercialisation Along with this, 4Ps of innovation mix in context of organisation is also
been discussed in above report which helps company to launch new products in market. In
addition to this, there are also various tool of protecting intellectual property used by company to
secure themselves from their rivals and competitors. Innovation funnel helps to shape innovative
ideas in minds of employees. Along with this, NPD also assist company to increase their sales
turnover and profitability margins.

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