Innovation & Commercialization Assignment - 3Com

INNOVATION
&
COMMERCIALIZATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and its importance for organisation in comparison with invention.....................1
P2 Vision, leadership, culture and teamwork can shape innovation and commercialism..........2
TASK 2 ...........................................................................................................................................3
P3 4P's of innovative and use of innovation funnel....................................................................3
P4 Development in frugal innovation and its use.......................................................................4
TASK 3............................................................................................................................................5
P5 Importance of commercial funnel and application of new product development..................5
P6 Innovation business case........................................................................................................7
TASK 4............................................................................................................................................7
P7 Tools used to develop, retain and protect knowledge and intellectual property....................7
CONCLUSIONS..............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation can be stated as a new idea, fresh up-gradation, novel technology invention,
procedures and methods for accomplishing desires and want of local as well as international
clients. 3Com is a leading corporation and got popularity because of its best networking
techniques across the globe. They have introduced several new techniques to complete needs and
wants of customers. This report is divided into some portions that will going to present idea
about effective utilization of innovation as well as efficiency in meeting targets within short
period of time. This assignment also focused 4P's in innovation that managers can use in their
businesses (Aarikka-Stenroos and Sandberg, 2012).
TASK 1
P1 Innovation and its importance for organisation in comparison with invention
For 3Com company, creativity is necessary as they deal in networking sites and
technological devices to meet technical demands of their clients across nation. This action
enables people in establishing connections with each other in effective manner. Herewith all this,
innovation is very much compulsory and necessary for an association because it is as same as
digital marketing that believes in creating something new and unique. There are some
importance that showcases essentialness of innovation.
 With this manager can shows a path in which novel and unique operations can be done
for meeting goals and targets.
 By assistance of creativity many brand-new buyers can be attracted towards company.
 This activity enhances returns of corporation.
 Innovation stands association apart from rivals in industry.
 Top management of 3com can formulate some policies and tactics for launching
modifications in their current working style.
There are several distinctions in innovation and invention that are describe as beneath:
INNOVATION INVENTION
This can be consider as some new variation
and up-gradation in current working
technology and style.
It is a brand new development of technique
which addresses specific desires and wants of
customers.
1