Innovation and Development of Frugal Innovation for Delamere Dairy Drinks

This report discusses the importance of innovation and the development of frugal innovation for Delamere Dairy Drinks. It covers the 4Ps of innovation, approaches of innovation, steps for deriving new and innovative drink, and experiment of appropriate techniques for test, iterate and improve.

Dairy Drinks

Table of Contents
PART-1 : BUSINESS REPORT.....................................................................................................3
INTRODUCTION...........................................................................................................................3
Difference between innovation and invention.............................................................................3
Importance of innovation.............................................................................................................3
ANALYSIS......................................................................................................................................3
4Ps of innovation.........................................................................................................................3
Approaches of innovation............................................................................................................4
Steps for deriving new and innovative drink...............................................................................5
Development of frugal innovation...............................................................................................5
CONCLUSION................................................................................................................................5
Part 2 : Power point presentation.....................................................................................................6
Part 3: PITCH..................................................................................................................................6
Experiment of appropriate techniques for test, iterate and improve............................................7
REFRENCES...................................................................................................................................9

PART-1 : BUSINESS REPORT
INTRODUCTION
Difference between innovation and invention
Basis Innovation Invention
Meaning Innovation means to make
something new or an idea for a
product which is different and
unique, implemented for first
time (Konarev, Konstantinova
and Georgieva, 2019).
Invention means to an idea for
a product occurs which is
never made before.
Activities Innovation is spread across the
organisation and helps in
satisfying needs of customers.
Invention is limited to
research and development
department. In invention
research is done.
Concerned with Innovation is concerned with
various products and process.
Invention involve single
product or process.
Importance of innovation
Vision- Vision of Delamere Dairy company is to increase sales of organisation by innovative
formula and distribution capability.
In Delamere Dairy company, autocratic leadership is applied which leaders are giving
instructions and workers have to follow it. Work is distributed among team members so that it
can be completed on time (Fedorova and Gorodov, 2020). Culture of organisation is good and
employees are getting safe and healthy environment. In other companies democratic leadership is
used in which employees are having right to speak and share their views. Leaders are listening to
what their members are suggesting.
ANALYSIS
4Ps of innovation
There are 4Ps of innovation:
Product – it means to provide good quality product to customers and increase sales of company.
Managers of Delamere dairy should make innovative packing to attract customers.

Process – it means to use process like, for supplying products, recruitment and selection process,
or apply new ideas to increase sales and profit of company (Le Floch-Fouéré and et.al., 2020).
Position – position means to
Paradigm – it means to change something which is done in the organisation. It refers to change
in way of selling or adopt some other techniques so that better products can be provided to
customers.
Forms of innovation
 Incremental innovation – it means to utilise technology efficiently so that needs of
customers can be satisfied and increase sales of company. Managers make some changes
in features, design, packaging etc. to make some innovation in product.
 Disruptive innovation – it means to apply new technology to increase sales of company
and satisfy needs of customers. New technology is expensive, having less features,
difficult to use (Ubaid and et.al., 2019).
 Architectural innovation – this form of innovation refer to taking lessons, skills and
technology is used in different market so that more customers can be attracted.
Managers of Delamere drinks should use incremental innovation which means to provide
new and innovative products to customers. This is the best way to generate more profit and
increase sales of company (Holtskog, 2017).
Approaches of innovation
Innovation of lactose – it means to make some innovation in products and provide good quality
products to customers. Nowadays, consumers are looking for products which is easy to digest
and their health needs are satisfied. This approach help Delamere drinks in increasing their sales
and attract more customers because people want healthy products (Mor, Bhardwaj and Singh,
2018).
Resistant innovation – this approach helps in understanding resistance oriented behaviour of
consumers. All people are having different taste and choice, so it is difficult for managers to
make products and satisfy their needs.
Flavour advancement – it means there are different technological developments in ingredients
or flavour of product. It is essential to provide new and innovative products to customers and
satisfy their needs. Nowadays, people want good quality products with different flavours so this
can be used by Delamere drinks to increase sales and profit.

Steps for deriving new and innovative drink
Next steps for Delamere drinks should go through to derive a new and innovative drink
and ways to access funding are, work a business plan, obtain financing, select proper location,
hire an accountant, obtain all licences, purchase equipment, hire staff, advertise business. These
are some steps which Delamere drinks should apply so that they can increase their sales and help
in accomplishing goals of organisation (Eastwood and et.al., 2019). There are some ways to
access funding such as, determine how much fuds are required, start with some self- funding, get
venture capital from investors, crowdfunding can be used to fund business. Managers of
Delamere drinks can take a small loan, find investors who are interested to invets in business.
These are some ways which can be used by Delamere drinks for access funding and start
business smoothly.
Development of frugal innovation
Frugal innovation means to change strategy of development so that resources and
technology can be used efficiently and make good quality products. This helps in reducing
consumption because less resources are used and technology is used efficiently. Frugal
innovation encourages investment without waste and employees are given training for using
resources efficiently and reduce wastage. Every firm want to earn profit and for that they have to
identify choice of customers and provide good quality products so that needs of customers can be
satisfied (Hossain, 2018).
Market driven innovation refers to designing, managing and implementing innovation
process. This is used by companies who are entering into new market. Some organisations enter
into new market and providing new & innovative products to attract more customers and
increase sales of company. Frugal innovation helps in using resources and technology efficiently
and good quality products can be provided to customers. When company want to expand their
business in other market then they can use market driven innovation and make some innovative
products so that customers can be attracted. Managers of Delamere should apply market driven
innovation so that they can get relevant information about market.
CONCLUSION
From the above discussion it can be concluded that, innovation has some advantages like, it
improves overall productivity, reduced cost, increased competitiveness, improved brand
recognition value, new partnerships, increase profit of company. Some disadvantages of

innovation are, it is costly and time consuming, business can run out of money. There are
different forms of innovation such as, incremental, disruptive and architectural has been
discussed. Frugal innovation and market driven innovation has been discussed.
Managers of Delamere company should conduct market analysis before making any plan
and make strategies accordingly. This will help them in entering into new market and they can
face challenges in market. With the help of market driven innovation managers can identify
strategy used by other companies and managers of Delamere drinks can make better plans and
earn more profit by attracting customers. Managers should apply democratic leadership so that
staff members can work efficiently. In democratic leadership team members are having right to
share their views and suggest ideas which is beneficial for growth and development of
organisation. Managers of Delamere company should give work in team and divide work
according to specialisation of individual person. This helps in increasing efficiency of employees
and focus on achieving goals & objectives of company.
Part 2 : Power point presentation
Done in PPT
Part 3: PITCH
It is important to measure overall effectiveness of an organisation so that it can be identified
that what are the strengths of firm and in which area improvement is required. To measure
overall effectiveness of Delamere dairy is by determining profit earned by company as compare
to other firms. With the help of profit, efficiency can be measured and for comparison net profit
earned by other companies should be identified. Rate of production should be used for measuring
overall effectiveness of firm. By determining production rate of Delamere dairy and rate of
production of other companies (Rozhkova and Olentsova, 2020). This is another way to measure
overall effectiveness of company. Capital efficiency is another way to monitor effectiveness of
company and identify areas in which improvement is required. It is the responsibility of
managers of company to identify weakness of firm and take necessary steps to improve those
areas.
To measure effectiveness of Delamere dairy repayment schedule can be identified like
capacity of company to repay. Financial position of organisation should be determined and
comparison can be done. This helps in determining that company is able to repay amount taken
as loan or not. To run business smoothly, it is essential to take loan and start business. It is

important to focus on financial position of company and on the basis of that overall effectiveness
can be measured. Another way to measure efficiency of company is to determine liquidity of
firm. Liquidity means to check that how much assets company is having and converted in cash.
Liquidity of firm includes working capital of organisation and current ratio (Le, Shan and Taylor,
2020).
Liquidity refers to identify which security or asset can be easily converted into cash without
affecting its market price. To measure financial performance of company solvency of firm
should be measured. Solvency includes debt to asset ratio, means possession of assets in excess
of liabilities. From solvency it can be identified that company is having ability to pay debts or
not (Akgun, Keskin, Ayar and Etlioglu, 2017). These are some ways by which overall
effectiveness of company can be determined and comparison can be done. It is important to
measure financial position of firm because it helps in determining actual position of firm and
managers can make improvements if required.
Experiment of appropriate techniques for test, iterate and improve
Application of new product testing is important concept because it generates idea about
that product is essentially survives in market and it develops attraction of audience or not.
Almost every organization those wants to develop new business and launch new product in
market they have to consider and allow testing process of product (Collins and et.al., 2021).
Consideration of this three method organization can effectively develop attraction of customer
and improves their growth and new opportunities are as follows,
Test
Organization or small business entrepreneur or manager has to consider this fist step
when the supply their survives in market. They have to done quality and quantity check of
product. Test technique refers to overall business performance can effectively run in market or
not that's the reason business consider this first step. Delamere dairy wants to produce and launch
new drink in market they want to develop some unique product so their management consider
that they launch new drink. Then they analyse and research from website, mobile apps and
develop unique methods to analyse and test of product.
Iterate
This step is basically includes activity which is designing or product, different and unique
product development, manufacturing activity perform well or not and many more things which is

essential for business expansion. And expansion of success within the repetition the concept for
production process. Completion of testing activity this concept can provide information about
product survives in market or not.
Improve
Improve activity and step of testing gives information and expansion of new idea
generation is not effectively run in market company can analyse and engage new things and
creativity concepts for effective improvement of product (Cortés and et.al., 2021). Application of
unique and different strategy in product will defiantly improve quality of product. On the other
hand organization manager and operation department those prepare product they have to develop
analyse of product market research. Also, based on customer reviews because they provide
information and develop knowledge of that products which things people not like in product. So
application of continues improvement is developed long term attraction and if people not like
product size and quality then also influence performance of goods and survives in market.
Delamere dairy applies and consider this all method and technique when they produce
and launch new product in market for their effective growth. They can easily improve their
quality of business as well as they effectively develop reputation in competitive market and
engage customer attraction. So analysis and consideration of multiples aspect company has
effectively develops and expand their performance within the utilization of new project
development activity constituently perform in market or not. Survives in international market
innovation is application in business product is one of the most important aspect and
continuously improvement in organization product activity effectively influence business
performance as well as they develop positive impact on company growth.

REFRENCES
Books and Journals
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Cortés, I., and et.al., 2021. Evaluation of adaptive loop-bandwidth tracking techniques in gnss
receivers. Sensors. 21(2). p.502.
Eastwood, C., and et.al., 2019. Managing socio-ethical challenges in the development of smart
farming: from a fragmented to a comprehensive approach for responsible research and
innovation. Journal of Agricultural and Environmental Ethics. 32(5). pp.741-768.
Fedorova, M. A. and Gorodov, A. A., 2020. August. Formation of the dairy industry production
potential: innovations and problems of their implementation. In IOP Conference Series:
Earth and Environmental Science (Vol. 548, No. 2, p. 022013). IOP Publishing.
Holtskog, H., 2017. Forms of innovation—Insights from product development. Journal of the
Knowledge Economy. 8(1). pp.63-76.
Hossain, M., 2018. Frugal innovation: A review and research agenda. Journal of Cleaner
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Konarev, A., Konstantinova, S. and Georgieva, G. V., 2019. October. Technological
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Mor, R. S., Bhardwaj, A. and Singh, S., 2018. Benchmarking the interactions among barriers in
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