Innovation and Commercialization - Teamwork and Leadership

Innovation and
Commercialization

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Innovation with its importance at organisation in comparison to invention.........................1
P2. Ways through which organisational vision, culture, teamwork and leadership can shape
innovation and commercialisation...............................................................................................3
TASK 2............................................................................................................................................6
P3. 4P's of innovation addition to usage of innovation funnel for examining as well as shaping
innovative ideas...........................................................................................................................6
P4. Development of Frugal innovation........................................................................................7
TASK 3 ...........................................................................................................................................8
Covered In PPT............................................................................................................................8
TASK 4............................................................................................................................................8
P7. Different tools to develop, retain along with protecting knowledge with intellectual
property........................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation is defined to application of solutions for generating novel ideas, products
addition to procedures that are unique as well as cost effective (Al-Mubaraki, Muhammad and
Busler, 2015). It involves multiple activities which uncovers ways to perform workings or things.
In addition, commercialisation is characterised to procedures that brings innovations of
commodities and services in market. It transforms ideas, innovations together with knowledge
into broader wealth for businesses addition to society at large. To develop understanding about
innovation and commercialisation, Samsung Electronics is chosen which performs trading
activities in industry of electronics including digital media devices, memory chips, electronic
appliances, semiconductors and integrated chips. The company is committed for making
improvements in global community as well as catering ground breaking innovations that can
help in enhancing lives of general public. The report discusses about innovation as well as
differences between innovation with invention. It further includes different innovation types and
procedures required for commercialising innovations. At last, it involves different methods to
protect ideas along with their pros and cons.
TASK 1
P1. Innovation with its importance at organisation in comparison to invention.
Innovation: Changing current business model as well as adopting changes to deliver
effective services and products is termed to innovation. In other words. It means to implement
new ideas to manufacture dynamic commodity that stimulates towards growth of business. It
increases livelihood of succeeding entity by creating efficient work processes addition to better
performances and productivity. For Example, Samsung Electronics recognises needs of market
and dedicate its efforts with resources to manufacture new innovation and offer the same to its
targetted customers. It delivers best products with operational excellence addition to innovations.
Examples of the innovations of Samsung electronics are 5G Phones are more camera lenses
(Examples of Samsung Innovations. 2019). Importance of innovation are as follows:
 Responding towards trends addition to competition: It helps an organisation to
analyse current trends as well as opportunities in near future (Importance of innovation.
2018). Samsung Electronics not only respond towards emerging customer needs rather
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predicts future trends so that they come up with new idea which will help in meeting
demands and staying ahead in competition.
 Competitive advantage: Consumers sees innovations as something which helps in
adding values on organisational product. Managers of selected entity uses the concept in
effective manner that provides competitive advantage to saturate market and spread legs
rapidly.
Invention: It is generally featured with new ideas, unique imagination along with
creative thinking that are represented through methods. In other words, invention is a new idea
that that has not entered into market and is to be introduced for first time. Examples of Samsung
Electronics inventions are Samsung QLED TV and Samsung Galaxy S6 Edge+ (Examples of
Samsung Inventions. 2019). The company understood the demand of market about the innovation
and launched it in 2018. Importance of invention are:
 Attract more customers: With invention, Samsung electronics attracts large base of
customers by introducing unique features of mobile phones and other appliances at
reasonable costs that fulfil market demands. Innovative product: Invention helps in launching innovative product which is not done
by other companies. Samsung Electronics by carefully understanding product needs
manufactures innovative products.
Comparison between innovation as well as invention
Comparison basis Innovation Invention
Definition Innovation is defined as
procedures for applying
policies, methods and ideas to
develop existing product in
innovative manner.
Invention is defined to new
idea or method for
manufacturing and launching
in market which is yet not
produced before.
Focus Focus of innovation is on
combining several products
(Ding, Eliashberg and
Stremersch, 2016).
Invention focuses towards
introduction of new
commodity.
Required skills as well as Innovating product requires Invention requires scientific
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qualities marketing, mechanical along
with strategic skills.
skills.
Samsung's scenario with examples describing the ways successful implementation of
the concepts along with time period.
Samsung Electronics started its operations in 1969 by inventing black and white
televisions. With the passage of time, company has expanded its reach in the international market
by opening possibilities through introducing innovative technologies. The entity developed new
concept development procedure that helped in implementing as well as executing innovations
with inventions of Samsung Galaxy S10 in the year 2019 (Samsung Galaxy S10 case study.
2019). Earlier, marketers of the company understood the demand of customers along with
forecasted future trends and conducted field research to prepare the report with statistics. Further
with these reports, thinkers or designers discussed the idea and reached to final conclusion for
manufacture innovative solution that can satisfy customers. With the formulated proper business
strategy and idea, the concept of innovation was developed and invention of the Samsung Galaxy
S10 was done. The company successfully launched the product and attained huge market shares
with great response.
P2. Ways through which organisational vision, culture, teamwork and leadership can shape
innovation and commercialisation.
Every entity has some set vision and objective concerned with pre evaluated targets.
Innovation with commercialisation are crucial and prominent for Samsung Electronics as with
such concepts, managers addition to staff members are able to perform, operate as well as
execute distinct activities in effective ways that can also helps in attaining beneficiary outcomes.
Employees when communicated properly about the objectives, they work with fuller capabilities
that also helps in maximising organisational productivity and coordinating team efforts for good
performances. Organisational vision, culture, leadership addition to teamwork contributes great
to shape innovation as well as commercialisation, the contributions are as follows:
Organisational vision: Samsung Electronics has set vision to inspire world with
building future made up of richer digital experiences with innovative commodities together with
technologies. Clarified vision acts as searching best ways to attain success. When management
authority clarifies vision to work force which will help in motivation as well as working
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effectively as it is one of the way through which managers discusses with employees about any
new trends or their ideas which can shape innovation along with commercialisation through
making modifications in products or manufacturing new product by following vision in order to
rule customers mind and attaining top positions (Greenstein, 2015).
Culture: Effective, favourable as well as accurate organisational culture plays important
role in establishing new business addition to accomplishing long term success through achieving
set objectives. By following the elements from the model of Charles Handy Culture, Samsung
Electronics can make provisions to shape innovation and commercialisation. Description of the
elements of the model is as :
Power culture: Herein, powers are held with few people only who spreads influences
within workplace. The culture involves rules and regulations that are followed by employees
while performing tasks.
Role culture: Entities following role culture controls everyone in and clarifies
responsibilities or roles to all members within the company. It is built as per the organisational
structure possessing strong command chain.
Task Culture: The moment teams are build, task culture is formed so to address progress
of projects as well as particular problems.
Person culture: Herein, individuals see themselves as superior addition to unique. All the
business are full of persons coming from different expertise and background. In this, power is
with each member of team.
From the above mentioned cultural elements, management of Samsung Electronics
follows task culture where individuals with different skills, experiences and capabilities are
chosen to form departments (Hadidi and Kirby, 2015). Further, teams within departments are
formulated such that problems with solutions are identified pertaining with organisational issues.
Team members have skills and experiences that helps in handling challenges that shapes
innovation as well as commercialisation through formulating effective strategies to resolve
problems within time and attain success.
Leadership: Effective style of leadership influences, encourages addition to motivates
personnels to execute actions with fuller capabilities or efforts. When leaders of Samsung
Electronics cooperate and support employees then staff members start trusting them and works to
enhance work quality to attain best results. Leaders of Samsung Electronics follows
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decentralised leadership style in which they delegate their powers among work force or their
followers which improves staff engagement through which they are free to share their views or
opinions. Superiors consults and takes advices from subordinates in order to produce new item or
modify existing ones. Through taking advices from workforce, leaders gets new ideas that helps
in shaping innovations with commercialisation by implementing new procedures and bringing
new innovations that can result in huge market success.
Team work: Teams are key elements for any company which are pre requisite for
performing activities while innovating products and procedures in commercialisation. They
follows Bruce Tuckman’s theory while forming teams. Following is the descriptions of stages of
the theory:
Forming: Herein, members of different departments of Samsung Electronics are
assembled as well as allocated tasks for innovations.
Storming: At this stage, tasks are addressed by team members and ideas are suggested to
accomplish work. In addition, team members of the company shares their views about market
trends and the new things that can help in innovation and commercialisation of products
effectively (Menter, 2016).
Norming: Herein, teams move towards coordinated working practices by accepting
responsibilities as well as build trusted relationships. Team members coordinate with marketers
of Samsung Electronics such that if any changes are required in innovations then they can be
done.
Performing: Team members are aware about what is to be performed and reason for
performances. They focuses on achieving vision and performing tasks to innovate products and
commercialise them in the market.
By following all the steps at Samsung Electronics, team members can combine distinct
innovative idea and get success. To achieve goals, team work plays crucial role in making ease
of meeting targets that can also shape procedures of innovations and commercialisation through
proper coordination and implementing new ways to execute activities associated with the
concepts.
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TASK 2
P3. 4P's of innovation addition to usage of innovation funnel for examining as well as shaping
innovative ideas.
4P's of Innovation is a model that was propounded by Joe Tidd along with John Bessant.
Using the tool, organisations discovers aspects to improve innovation process addition to
implementing it in business. While planning activities, such tool is used by management team of
Samsung Electronics to understand current position as well as ways through which
improvements in the 4Ps can be done (4 Ps of innovation. 2015). It also helps in providing
directions about where to go along with which areas needs innovations. The 4Ps are described
below and management of the company can opt any one of them for innovations while
introducing in future.
Paradigm innovation: It involves procedures to frame policies in order to monitor
organisational activities. It is used to improve the ways business activities for innovation are
performed. If management of Samsung Electronics uses paradigm, then they starts analysing new
business aspects and can make changes in current business models in order to gain success.
Product innovation: It is characterised to the main element that company sells as well as
makes modifications as per customer needs or specifications to acquire huge market shares.
Samsung Electronics have series of innovations including consumer electronics addition to home
appliances. If the company has willingness or vision to attract numerous audiences then they
should perceive accurate idea about customer need such that effective strategies can be framed
for attracting huge customer base.
Process innovation: Steps that are followed while manufacturing, distribution along with
presenting of innovations in market are termed to process. It also comprises activities related to
hiring people, supplying, training and workflow. It is important for Samsung electronics to
modify their procedures involved in production, distribution along with display of innovations so
to increase awareness of customers, boosting presence with attractive product displays and
meeting competitive advantages by accomplishing objectives in less time and effective manner.
Position innovation: It is related to introducing a product in the competitive market.
Samsung Electronics always targets their existing customers by introducing new and unique
product in the market. They targets people between the age group of 16 to 65 years for IT and
Mobile Products, 25 to 65 years for consumer electronics and 25 to 50 years for Samsung Device
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solutions. They also set strategies to enhance customer awareness about products so that higher
market share with huge sales can be acquired (Rodrik, 2015).
From the mentioned 4Ps, good option for Samsung Electronics is product innovation as
innovating new product can help in greater opportunities for expansion as well as increasing
market shares with huge profit margins.
Innovation Funnel: Mechanism which develops new concepts addition to ideas about
products or services in innovation funnel. It is among the powerful innovation tool that enables
continuous idea streaming which can used to screen visibility. Various firms opts the approach to
create innovation with realistic action plans. It has three essentials including investigation,
development as well as shipping products. Administrators of Samsung Electronics uses
innovation funnel to implement plans in order to modify existing products. In context to
investigation phase, they inform objectives and engage employees to collect all the relevant data,
information and statistics. Further In development stage, the data is accepted as well as stretched
to make essential modifications and developing innovations of existing product. In shipping
phase, from the all products particular innovated commodity is selected and shipped to different
markets so to make offerings to customers (Styhre, 2015). With this, managers develops ideas at
all stages to shape products through examining needs of innovate products and implementing
appropriate strategies which helps the business to expand.
P4. Development of Frugal innovation.
Frugal innovation: Another name of it is frugal engineering. It is a technique that
includes procedures to eliminate non essential features, complexities as well as diminishing cost
values of products offered by business. Management of Samsung Electronics uses frugal
innovation while modifying products so to remove non productivity activities that affects
performances and adds complexities in manufacturing procedures together with adding more
product costs. The outcomes of frugal innovation are positive as well as benefits in enhancing
profit margin of Samsung electronics.
Example of Frugal innovation:
Samsung Electronics has applied the concept to reduce redundant costs or activities that
are involved in manufacturing operations (Van Lancker, Wauters and Van Huylenbroeck, 2016).
The company by using ways like purchasing product materials in bulk, moving towards
manufacturing offshores and opting automations. For example, automation are adopted through
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replacing humans with machines when staff members goes for strike which will help in reducing
activities that are unproductive. It will enhance capital efficiency and product development
efficiency by eliminating non valuable features.
TASK 3
Covered In PPT
TASK 4
P7. Different tools to develop, retain along with protecting knowledge with intellectual property.
Various tools that can be utilised by management of Samsung Electronics in order to
develop, retain as well as protecting privacy of knowledge addition to intellectual property are
the followings:
Copy rights: These are termed to legal rights of business owners of products or
intellectual property. In other words, the creator or founder of products along with to whom they
provide authorisation have exclusive rights for reproducing same items or commodities.
Samsung Electronics by using such tool can attain benefits of protecting their ownership of
intellectual property as well as earning more incomes from developing and manufactured unique
products. In contrary, if any one uses the copyrights with out permission of owners then they are
charged heavy penalties that can impact on their profit margins (Ye, Jha and Desouza, 2015).
Trademarks: Trademarks are termed to recognizable words, insignia or symbols that
indicates particular commodities addition to legal differences with other products comprising
same features. It helps in identification of particular products as well as brand ownership in the
competing market. If Samsung electronics adopts trademark tool then they will gain benefit to
protect their symbols or products from competitors of similar products. On other hand, trade
marks fails to protect intellectual property as it only provide protection to products not strategies
of marketing or distribution.
From the above tools, Samsung Electronics goes with both one as to earn more incomes
from copyrights of few commodities as well as to protect their commodities from competitors.
With these tools, the company can effectively develop, retain as well as protect key intellectual
properties.
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CONCLUSION
From the discussion it can be said that innovation and commercialisation goes hand in
hand. Importance of innovation is to responding towards trends as well as competition and
acquiring competitive advantage where as importance of invention is to attract more customers
and innovative product. By setting appropriate vision, adopting task culture as well as following
decentralised leadership style the company can shape its innovations and commercialisation
procedures. 4Ps of Innovation comprises of paradigm innovation, product innovation, process
innovation along with position innovation. Numerous tools like Copy rights and Trademarks can
help in developing, retaining with protecting knowledge as well as intellectual property.
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REFERENCES
Books and Journals:
Al-Mubaraki, H. M., Muhammad, A. H. and Busler, M., 2015. Measuring innovation: the use of
indicators in developed countries. World Journal of Entrepreneurship, Management and
Sustainable Development. 11(3). pp.220-230.
Ding, M., Eliashberg, J. and Stremersch, S., 2016. Innovation and marketing in the
pharmaceutical industry. SPRINGER-VERLAG NEW YORK.
Greenstein, S., 2015. How the internet became commercial: Innovation, privatization, and the
birth of a new network. Princeton University Press.
Hadidi, H. E. and Kirby, D. A., 2015. Universities and innovation in a factor-driven economy:
The Egyptian case. Industry and Higher Education. 29(2). pp.151-160.
Menter, M., 2016. Principal investigators and the commercialization of knowledge. In University
evolution, entrepreneurial activity and regional competitiveness (pp. 193-203).
Springer, Cham.
Novikov, S. V., 2018. Russian support for innovation and export growth. Russian Engineering
Research. 38(4). pp.305-308.
Rodrik, D., 2015. From welfare state to innovation state. Project Syndicate, 14(01).
Styhre, A., 2015. Financing Life Science Innovation: Venture Capital, Corporate Governance
and Commercialization. Springer.
Van Lancker, J., Wauters, E. and Van Huylenbroeck, G., 2016. Managing innovation in the
bioeconomy: An open innovation perspective. Biomass and Bioenergy. 90. pp.60-69.
Ye, C., Jha, S. and Desouza, K. C., 2015. Communicating the business value of innovation.
International Journal of Innovation Scienc. 7(1). pp.1-12.
Online:
4 Ps of innovation. 2015. [Online]. Available through:
<https://egyptinnovate.com/en/innovation-tool/4ps-exploring-innovation-space >
Examples of Samsung Innovations. 2019. [Online]. Available through <https://newatlas.com/5-
innovations-2019-smartphones/57404/>
Examples of Samsung Inventions. 2019. [Online]. Available through:
<https://time.com/collection/best-inventions-2018/5454318/samsung-2018-qled-tv/>
Importance of innovation. 2018. [Online]. Available through: <https://lisacaprelli.com/7-reasons-
innovation-is-important/>
Samsung Galaxy S10 case study. 2019. [Online]. Available through:
<https://community.arm.com/developer/ip-products/processors/b/processors-ip-blog/
posts/samsung-galaxy-s-ten-years-of-mobile-evolution>
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