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Innovation & Commercialization Essay of XLN

   

Added on  2020-07-23

15 Pages4738 Words30 Views
Leadership Management
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INNOVATION& COMMERCIALIZATION
Innovation & Commercialization Essay of XLN_1

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3P1. Introduction to innovation and its importance when compared to invention.......................3P2. Ways by which innovation and commercialisation is shaped through organisational vision,leadership and culture.................................................................................................................4M1 Development of an innovative environment using various sources.....................................6D1 Analyses about how innovation is developed in an organisation..........................................6TASK 2............................................................................................................................................6P3 4Ps of innovation and use of the innovation funnel...............................................................6P4 Developments in frugal innovation........................................................................................8M2 Analysing and applying innovation funnel in an organisation.............................................9M3 Evaluate the function of frugal innovation in organisation context...................................10TASK 3..........................................................................................................................................10P5.Importance of commercial funnel and its applicability on NDP for commercialisinginnovation..................................................................................................................................10P6 Innovation business case for XLN company.......................................................................12M4 A business case on innovation which measures overall effectiveness of organisation......13D2 Evidence based judgement of organisation to overcome from the various challenges todevelop successful innovation...................................................................................................13TASK 4..........................................................................................................................................14P7 Various techniques which are used to develop, retain and protect various patent rights....14CONCLUSION .............................................................................................................................14REFERENCES..............................................................................................................................15
Innovation & Commercialization Essay of XLN_2

INTRODUCTION Innovation is the process of implementing new and advance technology in anorganisation which assist to execute different types of operations in stipulated time period(Kilelu, Klerkx and Leeuwis, 2014). It is considered as significant for an organisation toimplement new and advanced ideas in the organisation which leads towards attainment of goalsand aims of the organisation. This leads to effective business practices. These techniques helps toattract large number of customer in marketplace. XLN Company is the small telecommunicationcompany which provides service in the UK. The company needs implementing different types ofnew and advanced technology in order to accomplish different types of operations in an effectivemanner. Organisation takes help of different approaches of leadership in order to execute newand advance technology in the organisation plus it leads to enhance the working capabilities ofthe organisation. 4p' s of innovation play significant role to accomplish different changes in theorganisation within stipulated time period. It helps to flourish the business in different field andaids in invention of different types of products and services in proper manner. Proper way oforganisational leadership, vision and teamwork aids to give proper structure to implementinnovative idea and its commercialisation. TASK 1P1. Introduction to innovation and its importance when compared to inventionImplementation of new and advanced technology aids to develop organisation in propermanner. In order to implement innovative techniques determine the various conditions of theorganisation whether the organisation is ready for the change. Implementation of these changehelps to enhance the quality of production process in proper manner. Provide various types ofservice with helps of innovative method aids to attract large number of customer in themarketplace (Aarikka-Stenroos, Sandberg and Lehtimäki, 2014). The enterprise produce severaltypes of products as per the demand made by the customer.Significance of innovation when compared to invention Innovation plays a significant role in order to execute various types of new andinnovative ideas to achieve goals and objectives of organisation in an effective manner. Bytaking help of some effective real theories which provide attitude and confidence and attain
Innovation & Commercialization Essay of XLN_3

knowledge about to solve with different types of risk and also accomplish different types ofoperation in an effective manner. The difference between innovation and invention is describe below: Basis of differenceInvention InnovationMeaning It is related with the differentmethods which help todevelop new services andproducts (Godin, 2012). It assumes about an activityby the employee working inthe organisation which giveshape, size and implement newcolour changes in existingproducts. WorkIndividuals develop newthoughts and prepare goodswhich are not developedbefore. It can change all services andproducts according to thecurrent and leading technique Necessary skills An individual has new andinnovative skills which havetendency to invent newservices and products in orderto attract large number ofcustomers. An individual have themechanising, technologicaland strategic ability which aidsto increase growth of business.In this case study, it is reveals about the organisation adopt different types oforganisation execution of new and innovative ideas in order to changes various types of productsand services which are already present in the organisation. Like, Apple manufactures laptops andI-pods and also stores more than 1000 songs and the iPod. Company modifies its products atsmall level in order to attract large number of clients in the marketplace. P2. Ways by which innovation and commercialisation is shaped through organisational vision,leadership and culture In order to accomplish different types of operation of the business which aids to attaineffective result, XLN Company implements different types of changes in the organisation tocomplete various types of function in the specified time period. The leader of the organisation
Innovation & Commercialization Essay of XLN_4

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