Innovation and Creativity Assignment- EE Ltd

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Highlight Importance of Innovation to employees and its comparison with invention...1
P2 Describe ways in which organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation..........................................................................................2
TASK 2............................................................................................................................................3
P3 4P's of Innovation and use of innovation funnel to shape innovative ideas.....................3
P4 Developing process of frugal innovation................................................................................4
TASK 3 .........................................................................................................................................6
P5 importance and application of commercial funnel and application in relation to new
products. ................................................................................................................................6
P6 Innovation observer in business case ..............................................................................7
TASK 4............................................................................................................................................8
P7 Tools required to develop, retain and protection of knowledge and intelligence properly 8
CONCLUSION ............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation is basically a concept of introducing new ideas and thoughts which have
certain motives to be achieved. It involves creation of new things and content to perform
actions. Hence, some fresh concepts are introduced that full fills the needs and requirements of
target groups. This report highlights various aspects defining pros and cons of innovation in
respect to distinct methods or ways. Innovation have major impact on society and people in
many various ways which leads to satisfaction of necessity and wants. It includes EE limited
company of telecommunication industry which was constituted in 2010. This is a small business
entity which focuses on introducing new and diverse products for their customers. Hence, helps
in maintaining their good image in the market place. Along with this, report also features 4P's of
innovation and utilization of commercial funnel. Moreover, it also comprises of various
techniques of safeguarding intellectual property rights.
TASK 1
P1 Highlight Importance of Innovation to employees and its comparison with invention
As innovation always concentrates on rising new and innovative things in the society
whose aim is to accomplish success in long term (Sawyer, 2011). EE limited is well known for
its networks and renders benefits to personnels and workers in an organisation. Apple Inc is a
well established technology company which always attracts prospective people with their
products. This company always act as a tuff competitor for other company. Basically, Innovation
is a vital process because of number of reasons which are discussed below:
 Attracting huge number of customers
 Facilitative in constructing goodwill in the competitive market area
 Achievement of final mission and goals of business entity in a particular time frame.
 Enhancing different methods and ways of increasing knowledge of work force through
introduction of modern technology and tools.
 It helps in modifying the existing prevailing products by moulding it according the
consumer demand and taste.
Innovation have many associated advantages in regard to company and each individual as
it serve as a flourishing and developmental means. That is the reason EE limited wants to enlarge
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their operations and working all over the world. There is another term invention which sounds
similar to innovation but are different on certain grounds.
INNOVATION INVENTION
It is a process of improving present equipments
which aims in pulling more number of
prospective buyers.
On the other hand, Invention refers to
proposing entire originative and fresh thoughts
or process in the society.
While examining scenario of apple company, it
is observed that they always come up with new
and innovative iPhones which are different
from its previous model. They introduce new
features and styles in their various models.
On contrary, if Apple company pioneered their
phones with completely distinct features and at
the same time no other replacement is available
than it will be described as invention in that
particular field.
Alterations can be conducted by inexperienced
and less skilled individuals just by employing
specific occurrence.
Under invention, knowledgeable and talented
people can conduct this process. As it is a
complex process.
From the above discussed part, it has been concluded that innovation and invention are
completely contrary in their scope and roles. Apple Inc is a excellent instance of innovation as
well as invention. In regard with this, EE limited have to attain their elementary objectives that is
profit maximization and cost reduction .
P2 Describe ways in which organisational vision, leadership, culture and teamwork can shape
innovation and commercialisation
It is very much require to have a clear and brief mission that are directed in attaining final
goals and objectives (Goldberg, 2013). EE limited have their own vision which has to be earned
in their business life. Vision of the company may include creation of respectful place in the
market which is full of number of players who are struggling for the same. Organisation culture,
leadership, teamwork also have a critical role in forming commercialisation and innovation
because of its wider scope. Apple Inc vision involves securing the top position among best
computers in the world. Hence, they work accordingly to achieve their final goals. Vision- Vision of any company involves what are their aims and objectives. Similarly,
EE limited have their transparent objectives to increase their revenues each year.
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