Innovation And Commercialization Assignment- 4Com Company
Added on 2020-06-06
14 Pages4971 Words73 Views
|
|
|
Innovation
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of innovation to an organization in comparison with invention.........................1P2 Organizational vision, leadership, culture and teamwork can shape innovation andcommercialisation.......................................................................................................................3TASK 2............................................................................................................................................5P3 4Ps of innovation and use of the innovation funnel to examine and shape innovative ideas5P4 Explanation of developments in frugal innovation................................................................6TASK 3............................................................................................................................................7P5 Importance of the commercial funnel and the application of New Product Development....7P6 Innovation business case for 4com company.........................................................................8TASK 4..........................................................................................................................................10P7 Tools used by an organization to develop retain and protect intellectual property andknowledge.................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12.......................................................................................................................................................12
INTRODUCTIONInnovation is an essential process for every organization in which they define innovativeideas for their production process. It is more effective concept which helps to organization toachieve positive results in appropriate manner. In modern era, businesses are rapidly changes inwhich owner of the business wants to find society in needs and provide them accordingly. In thisprocess improvement is more effective to implement in their production activity to reach theirtarget and achieve organizational goals and objectives (What is innovation?, 2011). In thiscontext, commercialisation is also a new way in which company easily increase their profitabilityin most effective manner. Present report is based on 4Com company, which is UK based thatprovide better services in telecommunication field. This company make business phone,application and developing software and their main aim of doing innovation in their organizationto achieve success. They also focus on their services to satisfy their client needs in appropriatemanner. This report define importance of innovation which comparison with the invention. Inthis 4Ps is also a part of the report which helps in improving their performance level. Along withthis, various tools for protecting intellectual proper is also mentioned in this project. TASK 1P1 Importance of innovation to an organization in comparison with inventionIn modern era, every company understand that technologies are changes rapidly as wellas shiftily. If they want to achieve better goals and objectives then they implement new andinnovative ideas to improve their process. Innovation define new and creative ideas and conceptwhich helps in execute fresh concept in order to improve the old methods. In organizationalcontext, innovation define new technologies, methods, strategies, services and various systemwhich use to enhance their process to increase overall profitability of the company in appropriatemanner. Innovation play important role in build creative organization to get better results. Importance of innovation to employees: Innovation define their important role in the organization to build strong goodwill oforganization at market place. It is more used for the company to produce creative products inwhich they easily attract large number of customers and also satisfy their needs. Betterinnovation help in improving the employees performance because it define better improvementin overall method and strategies (Anderson, Potočnik and Zhou, 2014). With the help of1
innovation employees hare their new ideas and opinion to discover their business process andalso resolve all the issue within the organization. In this context, CEO of Apple Steve Jobs isbelieves that workforce as well as employees are the main assets of the company which helps indefining innovative ideas to the company in which they easily understand the their organizationalvision and objectives in effective manner (Boons and Lüdeke-Freund, 2013). Imply the betterinnovation into the business is possible by group of people in which all the members worktogether and implement the new ideas to achieve their target. It also contribute in motivate theemployees towards the team work and get common goals.Innovation is best mode in which it define new shape for the business in whichemployees are the main pillar. Without them implementation of new ideas in not possiblebecause they need creative ideas to modify their existing process and improve their productivelevel which helps in boost up employees confidence in effective manner. Virgin Group is a popular company in UK which include various areas such as Travellifestyle, entertainment and finance. They also include better innovation with their employees inwhich they lead their workers to done their task in effective manner and also achieve their targetin minimum time period. Workers has many knowledge about the company and its process inwhich they implement the new and creative ideas to reach at target. On the other hand the Appleis one of the biggest company which provide smartphone in overall world. In this the CEO of thecompany provide better training and development programs to their employees in order toachieve effective innovative process in their production process so that they easily capture largemarket share. In 2001, Apple launch iPods and mp3 device which include endless song in thesmall device. In this they maintain better employees relation to evaluate as well as explainingtheir new strategies to develop their process in systematic manner. Difference between innovation and invention:InventionInnovationIt define as well as discovering new ideas,process, methods and technologies to seteffective aspect in the activities.It is an effective concept in whichimprovement and development can be done inthe exist products services and technologies forbetter innovation. Example of invention such as iPods by Apple(Breznitz and Murphree, 2011).Example of innovation is to improvement in I-phone by launching better version and model. 2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Innovation and Commercialisation in 4Comlg...
|16
|5129
|28
Innovation and Commercialisation of Ensoftlg...
|13
|3948
|38
Understanding Innovation and its Driverslg...
|13
|4468
|29
Innovation in Organizations Assignmentlg...
|14
|4508
|61
Innovation and commercialisation - mango lassi Assignmentlg...
|14
|4768
|336
Report on Innovation and Its Importancelg...
|17
|4894
|37