It is important that people must analyse market and then problems faced by public and it applied in organisation to provide satisfaction to consumers. The report talks about difference between innovation and invention and their importance, role of leadership, culture, teamwork and innovation funnel in achieving innovation (Azarmi, 2016). This report states that company has to plan properly regarding change in operations, there are various steps which has to be followed by manager to develop new product and services. TASK 1 1 P1 Innovation and its
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INTRODUCTIONInnovation means to come with new things. It is important that people must analysemarket and then problems faced by public and it applied in organisation to provide satisfaction toconsumers. There are many problems related to innovation and it must be solved by individuals.This report is based on 4com telecommunication company. This company was launched in 1999with an objective to improve communication skills. The report talks about difference betweeninnovation and invention and their importance, role of leadership, culture, teamwork andinnovation funnel in achieving innovation (Azarmi, 2016). There are 4 P's of innovation andfrugal innovation which assists in invention. This report states that company has to plan properlyregarding change in operations, there are various steps which has to be followed by manager todevelop new product and services. Innovation is done by single person so it is important toprotect it from being used in general; so, there is discussion about such tools which helpindividual to safeguard its rights and property.TASK 1P1 Innovation and its comparison with inventionDefinition of innovationInnovation means to come with new change in existing product. This is important tomake long relations with consumer. There are many benefits which can be availed by consumer.When comes with new and innovative ideas, then this increase faith and trust of customer.Definition of inventionInvention is different from innovation but sometimes people use these termsinterchangeable. Invention is coming with new thing which does not exist in market. This can bedone when manager has to analyse market and in case they feel some missing then he come withnew concept (Caiazza, 2015).Difference between innovation and inventionINNOVATION INVENTIONAdding something new in product ansservices.Coming with new thought is known asinvention. Innovation helps company to satisfyneed of customer.After invention it is advertised to publicand from there demand arises.1
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