Innovation & Commercialisation of a Waste Recycling System

This study material discusses the importance of innovation compared to invention, how vision and leadership shape innovation, the 4 P's of innovation, frugal innovation with examples, and the importance of the commercial funnel and NPD. It also explores the innovation case of Big Belly and different tools to retain intellectual property rights.

Innovation &
commercialisation of a waste
recycling system
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Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Innovation and its importance as compared to invention.......................................................3
P2 How vision and leadership, culture shape innovation............................................................4
P3 4 P’s of innovation..................................................................................................................5
P4 Explain frugal innovation with example................................................................................7
P5 Importance of commercial funnel and NPD...........................................................................8
P6 Innovation case of Big Belly..................................................................................................9
P7 Different tools to retain intellectual property rights.............................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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INTRODUCTION
Innovation is considered as component through which companies grow and expand. It
provides a framework through which they are able to develop new products and services.
moreover, with help of innovation it is easy to gain competitive advantage and add value in
product or service. they are also able to increase customer base and generate more revenue.
besides, innovation is done in process as well to enhance product quality. it leads to providing a
new experience to customers (Choi, Choi and Rhee, 2020). also, with advance technology it has
been easy to implement innovation in it.
here, in this report it will be described about significance of innovation and how culture,
leadership, etc. shape it. Moreover, it will be explained about 4P’s along with frugal innovation
with various examples. in addition, it will be discussed about innovation funnel and at last it will
be explained different types of IPR for protecting knowledge and data.
P1 Innovation and its importance as compared to invention
Innovation refers to developing a new product or service by using knowledge. it can be
done in either process, method, etc. or in product or service. besides that, it enables in adding
value or new features to product or service. It is important for business to cope up with
technological change and survive in such a competitive business environment. They are
continuously able to innovate something new in order to attract customers. Furthermore,
innovation enables in competing in market for long term. however, there is great difference
between innovation and invention (Fei, Qu and Zhang, 2016). both terms are related to new
concept but varies from one another. The difference is as follows :
Basis Innovation Invention
Meaning Here, ideas are executed to
create new process or
products.
It is defined as creating of new
idea and concept.
Concept practical concept theoretical concept.
Skills Requires technical, innovative
and creative skill
Requires theoretical skills
Activities It is applied in any area of
business
it is limited to R&D
Concerned with Usually, linked with Here, it is related to specific
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developing of new product
and services
product or process.
Refer to Here, value is added to some
thing
In this new product is created.
Moreover, importance of innovation to business is mentioned as:
High quality products- Innovation is done to enhance product quality. In this deviations are
identified with process and then improved. This help in maintaining product quality as defects
and errors are solved. besides, business efficiency is increased as well. Also, new products are
offered to customers and profits is generated.
Offering advance tools and equipment’s – Innovation provide advance and new tools for staff to
work upon it. with help of these tools it results in increasing efficiency. Along with it, variances
are solved and process becomes streamlined (Ferreira, Cabral and Marques, 2017). In addition,
employee performance is enhanced as well as they are able to learn new skills and work in
creative way.
P2 How vision and leadership, culture shape innovation
For implementing innovation there is a great role of culture, vision, leadership and team
work. This is because they are all interlinked with one another and any impact on other affect
innovation. So, how they shape it is defined as
Vision
the vision depicts that what organisation wants to become or where it want to go in
future. It provide a direction to innovation and framework on how it is implemented. It helps in
motivating employee’s
Leadership
it plays vital role as leader are main source through which innovation is implemented.
The leader inspire and motivate staff to do things in creative way. Also, leadership ensures that
culture maintained is positive. Leadership provide vision and direction for innovation.
(Fujiwara, 2018 ). it offers new ideas and ways of carrying out operations.
Culture
culture also shape innovation as it reflect that how employee’s are adapting it. It helps in
bringing positive culture within organisation and allowing staff to enhance their performance.
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Besides, when culture is positive it automatically make things easy for staff to adopt innovation.
The values and ethics are modified and followed.
Teamwork
similarly, team work is also related to shaping of innovation. Here it allows staff to
change their way of working and improving performance. Here, goals and objectives are set and
clearly defined which enables in supporting and implementing innovation. So, entire process is
modified and things are changed. Staff feel encouraged and highly contribute in achieving goals.
They work with more interest as they find something new things to perform.
P3 4 P’s of innovation
There are 4 P’s of innovation in which each one specifies concept. These all are related to
knowledge and info of innovation done and applied in various areas. besides, the main aim of P
is to analyse type of innovation and apply it (Hs and Kuo, 2020). The are defined as :
Product- here, the P is related to developing new product or services or redesigning it. here, new
features are added into it in order to enhance its value. besides, main purpose is to attract
customers and generate high revenue by developing new product and services to fulfil their
needs. usually, in this business understand the market condition and find out needs of customers.
So, this enables in implementing innovation by developing new product and services. For that it
is necessary to do effective and proper planning that how product is to design and what features
are added into it. This is because it results in adding value in it. Apart from it, production process
is modified as well.
Process- in this innovation is done in process or methods within organisation. here, operational
process is modified and main purpose is to increase efficiency of business. moreover, the weak
areas are identified and then accordingly innovation is done within process. basically, some areas
are modified with help of new technology or systems and techniques. Generally, for this type of
innovation BPR tool is used. It gives insight on what type of changes can be done in process or
redesigning is done.
Paradigm- It is a unique type of innovation in which first of all goals are developed or formed.
here, both short and long term goals are formed and then it is evaluated where innovation can be
applied. It can be related to process, method, business model, etc. is innovated. Alongside,
sometimes new concepts and models are identified as well for doing innovation (Kumar,
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Holuszko and Espinosa, 2017). This enables in gaining competitive advantage and competing
with rivals. However, new knowledge is applied as well that allows in implementing innovation.
Position – here, business do innovation to enter in new market by determining needs of people.
this type of innovation enables in attracting more people in new market and generating more
revenue. Along with it, by changing position in the market business is able to gain competitive
advantage. For this new techniques and methods are applied such a doing promotion and
advertising to generate awareness. besides, main aim is to increase customer base with help of
position innovation. Sometimes, there lies vast number of opportunities for company to expand
but on contrary this innovation fails as well. Big Belly can also enter in new target market.
Innovation funnel is related to filtering of ideas that are been generated. So, this make it
easy to select an idea which is unique, creative and attractive than others. Other than this, the
ideas are filtered on basis of certain criteria. It is important to select an effective idea that is
suitable and feasible for business. In this there are several stages which is defined as
Mouth of funnel- Here, all generated ideas are collected and stored. By this it gives insight on
what type of innovation is required whether it is in process or product (Nikabadi and
Hajihoseinali, 2018). through that, Big Belly can also collect data about innovation and
customer needs.
Narrowing funnel- It is second stage in which ideas are filtered on basis of several criteria.
also, ides chosen is compared with goals. it makes things easy to implement innovation.
Narrowed part – The idea is finally selected and then innovation is applied. It is selection
process. the idea is firstly tested and further procedure is done.
Thus, Big Belly can also use innovation funnel to select and filter idea and do innovation.
This will make it easy for them to apply innovation within their business model. the company
will be able to grow and expand in other markets.
P4 Explain frugal innovation with example
Frugal innovation can be explained as the engineering and re engineering processes that are
performed by various business organization in order to reduce the cost of the organizational
operation and complexity of the various operations of company. The main objective of the frugal
innovation processes is to implement different type of practices with in organization in order to
reduce the operational cost of organization process by implement different new creative and
innovative ideas in organizational practices. There are different processes are performed by the
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managers and engineers to implement effective changes in the organization practices. This
process is related to the product and services of organization (Weyrauch and Herstatt, 2017).
There are some features and elements are present in the product and services of company that are
neither important for organization nor for customers and this is just added cost to the company
products. These products can be replaced with new and simpler product in order to reduce the
complexity and cost of company product and services. There are different examples of frugal
innovation around world that can provide better knowledge of frugal innovation. There are many
advantages of frugal innovation for business organization and customers. Some of the main
advantage of frugal innovation for business organization are- making company product
affordable, gather effective knowledge about the customer and develop new value chain. This is
how some of the main objective of the frugal innovation.
Improve the Affordability of Products
There are different business organizations are there which are trying to providing their
products to the customers at effective price. This is not possible for the organization to
implement cost cutting processes in organization practices without affecting the features of
company features. This process is also known as re engineering process where technical people
of organization try to find and implement new processes in organization operations in order to
reduce the cost of manufacturing and cost of raw material used in product development. By this
process cost of product can be reduced. For example TATA Motors is one of the most famous
automotive organization in India and also operating in there countries. TATA motors have
implemented the frugal innovation process in their organization to improve the affordability of
their cars to improve their sales in target market (Pisoni, Michelini and Martignoni, 2018). They
have developed a car which is known as TATA Nano which is one of the most famous cost
efficient car in Automotive industry. They have used the re engineering process to remove the
element and features from the car to reduce the cost of manufacturing in order to reduce the cost
of their product. By this process they have made their product affordable for customers.
Know More About Customers
This is most important for the business organization to develop product and provide
services to the people in order to meet all the demands of customers. By following process of
frugal innovation process engineers and management of organization evaluates the needs of
customer to implement cost cutting strategy in their products and services. For example, Jaipur
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foot is one of the best example of the frugal innovation. There are many disabled people in India
are not able to afford prosthetic legs. These prosthetics foots are too costly. The idea came from
Jaipur where people have developed prosthetic foot with minimum cost to make it affordable
(Hossain, 2018). In this process complex features of prosthetic leg are removed to make it
affordable for people. This is how frugal innovation is used to meet the demands of customers.
Implement New Value Chain
This is also one of the goal of frugal innovation where it is main advantage of the
organization to implementing new value chain in the organization to provide better facilities to
the customer who were initially avoided by company (Phu, Fujiwara and Hoa, 2018). TATA
nano and Jaipur Foot are best example of new added value chain that is developed by the
entrepreneurs to provide services to those people who were not targeted by organization
previously.
P5 Importance of commercial funnel and NPD
Commercial funnel is also known as sales funnel which allow in marketing model. It is
process to find out buying process of company. In this detailed info is analysed about customer
buying process. Moreover, the entire sales process is tracked. Alongside, there are four steps
used in it which is defined as :
Awareness – In this awareness is created about product in the minds of customers. with help of
that, customer can be easily attracted. Generating awareness help in making them aware about
new product or service offered by firm.
Interest- here, organisation must create interest in the minds of people so that they are able to
purchase products or services. For this they do effective marketing in different ways by using
various sources. It allows customer to take proper decision.
Decision – As name depicts the customer makes a decision to buy particular product or service.
it is because they have analysed all data and info about product or service. Furthermore,
attractive offers and discounts is offered by business to convert customers (Umair, Anderberg
and Potting, 2016).
Action- In this customer finally buys the product or service.
However, Big Belly recycle waste and also offer many types of services as well. So, in
order to remain compete in market they must develop new service.
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New product development means to add value in product by developing it. Also, by
identifying customer needs a completely new product is developed as well. This allows in
growth and development by attracting more people. Other than this, procedure of producing
product or performing business operations is changed. In that new machines and tools are used.
this leads to increase in efficiency and productivity of firm. The NPD consists of many other
concepts as well.
Long term growth - with help of NPD it is easy to attract more customers. this means that NPD
ensures long term survival of organisation. they are continuously able to develop new product
according to the needs of people in different market.
Enhanced social life – by offering new product with added features social life of people is
enhanced. it is because their needs are fulfilled so they start demanding more. New product also
bring change in trends within people.
Similarly, NPD can be beneficial for Big Belly. they will be able to offer new services to
people and grow in market. Furthermore, by changing the way of delivering services efficiency
can be enhanced.
P6 Innovation case of Big Belly
The company can do innovation by using AI in developing smart recycling systems. In
addition, they can also use robots in collecting waste from dustbins (Xu, Elomri and Liu, 2017).
so, it will reduce the risk of having terrorist attacks. thus, technological innovation can be
implemented in offering new services to people. this will help in increasing their efficiency of
operational process and gaining competitive advantage. Furthermore, it will led to bringing
flexibility in recycling waste and generating high profit. Another type of innovation that can be
implemented is use of solar energy in recycling waste. this will result in reducing cost in
operational process. so, for this the business plan is defined as :
Executive summary – Big Belly is providing waste and recycling services to people. for this
there are cloud computing platforms used.
objective
To use solar energy in recycling of waste
To generate rise in revenue and profit.
Source of funds – In order to do innovation company will acquire funds they can apply for loan
from bank.
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Big belly can develop new products by using intelligence system in the clouds. This will
help them to make waste system more advanced. It will allow in generating more profit and
attracting people. Hence, use of intelligence system in bins will make it easier for people use.
P7 Different tools to retain intellectual property rights
It is vital for business to hold their property rights, information and data with the goal that
they can not be replicated. This permits in restraining some other business to create comparable
item or apply same information. Other than that, it helps in securing private information and
data. Nonetheless, utilizing of IP rights makes it simple to ensure information. For this there are
various IP accessible which are characterized as
Patent – this is an IP which permits in ensuring any creation or advancement done. the patent
confines different organizations to duplicate, create or offer comparative item to individuals.
with this it turns out to be simple for business to increase upper hand (Fei, Qu and Zhang,
2016). In any case, patent is an imposing collection which is utilized for securing information.
The firm get legitimate option to secure information. Thus, on the off chance that anybody
duplicates their item or procedure legal action is made against them.
Trade mark- this information with respect to logo, image, slogan, This is on the grounds that
every business logo, image, differs from each other. In this manner, it is simple for clients to
recognize and distinguish item and administrations effectively in the market.
Copy rights- this is an IP that is typically utilized in ensuring expressions, music, sound, and
numerous different things. it is not related with business information and data. by utilizing
copyright it turns out to be anything but difficult to adjust, reproduce, and so on by taking
authorization from unique copyrighter. For that a powerful procedure is to be followed and
furthermore explicit charge is to be paid for utilizing work of copyrighter.
Trade secret- it is that information on business which comprises of equation, process, fixings,
and that are utilized in creating item. Alongside this, it contains calculations which is utilized in
item also. in this way, it empowers in separating organization model too.
Along these lines, it is assessed that Big Belly IP consists of patent as well as portfolio in
which technologies of solar power compactor are patented. The solar power patent is granted
7,124,680 and 7,481,159. (Big belly patents, 2019) similarly, electrically power program waste,
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nodes in sensor network trash compactors and receptacles are patented. The company filed a
case against Ecube labs for patent infringement.
CONCLUSION
From this report it is summarised about the importance of the innovation and
commercialization with in Big belly company. The difference between innovation and
innovation has been discussed in the report to develop better understanding about innovation and
invention. Various driving forces of innovation in business organization has been evaluated in
report. Four P's of innovation also has been considered in the study to implement innovation with
in the organizational practices. The development of the frugal innovation also has been learned
in report that can be used by the company to provide better services to their customers.
Importance of commercial funnel also has been studied in the report along with building
innovation case in organization. Tools that can be used by organization to protect their
knowledge has been studied in report.
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REFERENCES
Books and journals
Choi, H.J., Choi, Y. and Rhee, S.W., 2020. New implementation plan for improvement of waste
recycling in Korea. In Sustainable Waste Management: Policies and Case Studies (pp.
579-585). Springer, Singapore.
Fei, F., Qu, L. and Zhang, H., 2016. How to integrate the informal recycling system into
municipal solid waste management in developing countries: Based on a China’s case in
Suzhou urban area. Resources, conservation and recycling, 110, pp.74-86.
Ferreira, S., Cabral, M. and Marques, R.C., 2017. Life cycle assessment and valuation of the
packaging waste recycling system in Belgium. Journal of Material Cycles and Waste
Management, 19(1), pp.144-154.
Fujiwara, T., 2018. Waste recycling system for a tourism city in Vietnam: Situation and
sustainable strategy approach–Case study in Hoi An City, Vietnam.
Hsu, E. and Kuo, C.M., 2020. A Recycling System for Sustainable Management of Waste Solar
Photovoltaic Panels in Taiwan. In Energy Technology 2020: Recycling, Carbon Dioxide
Management, and Other Technologies (pp. 241-248). Springer, Cham.
Kumar, A., Holuszko, M. and Espinosa, D.C.R., 2017. E-waste: an overview on generation,
collection, legislation and recycling practices. Resources, Conservation and
Recycling, 122, pp.32-42.
Nikabadi, M.S. and Hajihoseinali, A., 2018. E-Waste Recycling System in Closed Loop Supply
Chain. International Journal of System Dynamics Applications (IJSDA), 7(2), pp.55-80.
Phu, S.P., Fujiwara, T. and Hoa, K.T., 2018, June. Waste Recycling System for a Tourism City
in Vietnam: Situation and Sustainable Strategy Approach–Case Study in Hoi An City,
Vietnam. In IOP Conference Series: Earth and Environmental Science (Vol. 159, No. 1,
p. 012046). IOP Publishing.
Umair, S., Anderberg, S. and Potting, J., 2016. Informal electronic waste recycling in
Pakistan. The Journal of Solid Waste Technology and Management, 42(3), pp.222-235.
Xu, Z., Elomri, A. and Liu, W., 2017. Global reverse supply chain design for solid waste
recycling under uncertainties and carbon emission constraint. Waste management, 64,
pp.358-370
Online
The Difference Between ‘Invention’ and ‘Innovation’. 2018.[online]Available through:<
[http://mediashift.org/2012/03/the-difference-between-invention-and-innovation086/]>.
Big belly patents, 2019. [online] Available through :<https://bigbelly.com/patents/ >
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