Innovation & Commercialization Strategies

This assignment delves into the crucial relationship between innovation, business models, and successful commercialization strategies. It examines various theoretical frameworks and practical examples to understand how innovations are transformed into marketable products or services. The content includes an exploration of open innovation, technology transfer, and the role of regional networks in fostering innovation. Case studies are analyzed to illustrate effective commercialization practices and key factors contributing to success.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Importance of innovation in organisation in comparison with invention .............................1
P2 Organisational vision, leadership, culture and teamwork leads to shape Innovation. ..........2
TASK 2............................................................................................................................................3
P3 4P's of innovation and how they shape innovative ideas ......................................................3
P4 Development in frugal innovation with example . ................................................................4
TASK 3............................................................................................................................................5
P5 Importance of commercial funnel and application of NDP process for commercialisation
of innovation ..............................................................................................................................5
P6 Innovation business case for organisation ...........................................................................6
TASK 4............................................................................................................................................8
P7 Different tools that organisation use to develop, retain, protect knowledge and intellectual
property. .....................................................................................................................................8
CONCLUSION ...............................................................................................................................9
REFRENCES ................................................................................................................................10

INTRODUCTION
It is essential for each and every organisation, to create new changes at particular time
interval in their commodities and services which they are offering to their consumer. This
assignment is basically revolve around the two segments one is innovation and another is
commercialization (Thore, 2012). They defined entire process through which they make changes
in the whole organisation. Along with this improve the utility and services of products for their
target audience with the help of making new ideas and implement those strategies . There is
relationship between commercialization and marketing activities which directly and indirectly
help company in developing products. There is advantage of industry by using various market
trends and strategies.
This study is revolve around the 4com company which is a telecommunication industry;
it provides networking facilities to people so as they can communicate in better manner. Their
main objective is to provide innovative services to their customers. So this report is going to help
in understanding and interpreting significance of innovation in organisation, frugal innovation

and different tools, 4P's of innovation which is used by business so they can assist, retain, protect
knowledge and intellectual property.
TASK 1
P1 Importance of innovation in organisation and its comparison with invention
Creativity is described as a process through which company make any kind of good and
creative change in their products and services to make it more useful for the consumer. In the
case of 4com company, Innovation is a key to modify their products although in order to meet
their target. 4com is a company which maintain their own culture in respect to the creation. The
term innovation means to coming up with new ways of doing things. Bringing innovation into
business can help save time and money, and give the competitive advantage to grow and adapt
diversity at marketplace. Along with this, it also consists to change business model and adapting
to changes in environment so as to deliver better products or services. Successful innovation
should be an in-built part of business strategy, where managers create a culture of innovation
and lead the way in innovative thinking and creative problem solving.
They make new ideas, strategies by enhancing technological devices and implement them on
products and services of company. There is significance of innovation in organisations are as
follows: -
Enhance productivity: - If any of the organisations use new and innovative ideas and
implement on their respective production process of their commodities, then this will help them
in increasing the productivity. As they will use their new technologies and tools. Generally,
consumers attract by new innovative ideas and products.
Helps in optimum resource of utilization: - This innovation specifically helpful in
reducing some wastage attentiveness to organisation's wealth, finance and technology. This will
automatically help to employees in engage with proper utilization of resources (Teece, 2010).
Helps in improving communication skills: - This innovation assistance to create
information flow through which all functions operate properly. This willingly help in proper
control of work, addition in employee's morale which leads to developing team work. Proper
flow of communication is very useful in 4com by understanding company's needs and desire.
Increase health and safety: - If innovation takes place then it will tend to reduce
possibility of issues and problems at workplace. It intentionally supports 4com company to make

use of robotics in move heavy things so along with this they provide safety to employees and
good working conditions.
As according to the case study of Apple. Inc., Innovation help them in growth by
launching good ideas in their products like I - Pod, as likely to this 4com can also achieve
success if they go to the path of innovative strategies and features in their mobile phones. There
is difference between innovation and invention, this is seen as in tabular form as follows: -
INNOVATION INVENTION
This innovation can be implied in the
commodities and services for the very first
time.
In this invention is being applied in the existing
commodities and services to make various
change.
There is new and fresh idea enforced
practically.
They working with original idea in the existing
theory or concept.
In this process of innovation they use various
strategic, technical and marketing skills.
They use scientific skills in the invention
process.
They are combination of different products and
process.
This is simply concerned with single product
and process.
P2 Organisational vision, leadership, culture and teamwork leads to shape Innovation.
Commercialisation and innovation is not manageable without assistance of organisation's
vision, culture, teamwork, and leadership (Snow, 2011).
Role of vision in commercialisation and innovation: - There is sight of 4com company
which improve the services of mobile phone communication in UK. This visual sense helps to
implement innovation and commercialisation practically in their products and services. As along
their aim is to maintain and improve these services of communication. So on they create various
innovations like, they make them available business phones which is supported by 4com. These
things help them to modify the demands of their phones among the customers and corporate
client.
Role of leadership in innovation and commercialisation: - This leadership can be
described as the way which may influence personal and professional characteristics of worker in
organisation. This will help in motivate all the employees and coordinate them so they can able

to achieve their respective organisational goals (Schoonmaker, 2010). Same as 4com company,
in this organisation leadership also help them in raising company's growth by encouraging
workers. Which will lead to enhancing their skills which will be beneficial for the company.
Role of team work in innovation and commercialisation: - Team work defined as the
corporation of the members in achieving their objectives and goals of the company. In the 4com
company have positive team work which helps in successful execution of innovation and
commercialisation at work place. So, on they make effective goods and services with updated
and modified features, which directly and indirectly gratify to consumer needs and demand.
Apple company is forefront company in this sector of technology. Although they continuously
make innovative products and which run smoothly in the market.
Role of organisational culture in innovation and commercialisation: - Culture is
somewhere responsible for innovation and commercialization in 4com. This company has pride
on their culture and built organisation to work hard in the company. So on they strive and
achieve excellency in every sector which contribute in significance in every community. This
kind of hard work supports organisation to catch up the growth.
TASK 2
P3 4P's of innovation and how they shape innovative ideas .
Its very essential for every organisation to create and implement something innovative
practically. This will satisfy to customer needs and demands and earn strong market footing in
the market (Rafinejad, 2007). For very effective innovation in the 4P's, this scheme is used by
this 4com company. As according to the case study of Apple and Virgin, they achieve growth
and success through this 4P's by make available innovative products in market place. 4com is
also able to achieve success and growth are as follows :-
Product :- It is described as physical goods which is offering to the customers through
the organisation so they can able to meet their objectives and improve relationship with the
clients. So on there was demand of business mobile phones although 4com grab this opportunity
and help in satisfying to their consumers by make them available innovative products.
Process :- It is a system through which they able to develop product. As in context of
4com, they needed essential resources which is obtained by company in which involves human
resources, funds, fresh technologies. Company was able-bodied to produce business mobile

phones for clients with the help of various innovative techniques and tools. This is also in favour
of skilled and talented workers through which they do production activities.
Position :- This process of position is similar to promotion method. As according to the
case study of virgin company they appreciate and praise to the tools for promotion of products
and services. 4com also use tolls like print media and electronic media to reach large number of
audience this will leads to awareness among people and that will be beneficial for 4com
company.
Paradigm :- In this process of paradigm which help in making beneficial product for the
consumer. This paradigm helps in handling with fresh and innovative ideas which helps in order
to improve all the goods and services which is specifically provided by company. 4Com
company use this tactics and add various features in their business mobile phone which leads to
increase in sales and demand too.
Innovation funnel is directly assist to company and provide focus on the desire and needs
of clients. Along with this market trends also help them to centring to competitors of the
company in the business environment. 4Com company has enough capabilities to accomplish the
needs of consumer by providing them innovative business mobile phones. Which help them to
go at high positions in the scenario of market. Its necessary to check it out other techniques and
tools which can intentionally help them to meeting desires and demands of customers. They help
to the company with available product at low price to the very large number of consumers.
P4 Development in frugal innovation with example .
This frugal innovation helps them to developing some of new kind of business mobile
phone models by designing them, reconfigures their value of chain (Lindič, 2011). So on by
order to the serve customers who can face affordability in confinement in very sustainable
manner. It develop involvement of either tapping and approaching resources and other invalid to
make comprehensive markets. Frugal innovation assist to providing structural methods with the
help of different resources this can be explained as follows :-
Helps in innovating additional characteristic :- This is necessary innovation and it is
used by 4com company, to modify and improve goods and services. In the order to render
gratification to consumers and assistance in enhancing benefit and market share of the business.
4Com innovative products will make available to the brilliant experience of the gadgets to

consumer. For example :- company generally make available friendly software to there
consumers, which might be beneficial to maintain great dignity in the market place.
Reduce the cost of production :- By using frugal innovation helps to decrease the cost of
the production, it might be help in the use of fresh techniques and tools. Which may be help in
raising the amount of gross sales which can be gathered by selling these products. Production can
be reduced if they are able to obtain raw material at the lower cost.
Expand Product line :- 4com company launch the latest technology and and afloat view
of that specific products and reach to their target consumer and market. Frugal innovation assist
to company for increasing their merchandise line which intentionally help to company in
growing market (Kim, 2011).
TASK 3
P5 Commercial funnel and application of NDP process for commercialisation of innovation .
There is relation between commercial funnel and product selling. 4Com company
generally deal with telecommunication services in which includes technical gadgets, business
mobile phone, internet broadband, application and software, calls, lines and business lines and
many more apart from this. These are all products which is made by company to gratify the
needs of consumer along with this marketing also include in this. Commercial funnel innovation
can also be described as the, company try to investigate all the tastes, preferences, needs and
demands customer are looking for. This investigation helps to the company in developing the
product and shipping to make available for the consumer. They have main objective is to develop
product to have an idea from the concept to reality so they make develop the product to satisfy
needs of the consumer in economical and measurable form (Huizingh, 2011).
As according to the study of Apple Inc. there strategies help in holding top position in the
market by using variety of latest technology. As likely similar to this 4com company also try to
make available new features and functions in addition with calling. Therefore, the apple
introduce technology HiHi along with this 4com also planning to adopt this technology for the
fast growth of the company by meeting to the desires of consumer (Godin, 2012). There are
various stages of commercial funnels are present like leading sales, generation of prospectives,
need of identification etc. this help in making and developing more new products.

Commercialization is the method through which they introduce new products and
services in the market. By application of new products development is used for the processing
commercialisation of innovation. There are various steps which is includes in development of
new products are as follows :-
Idea generation :- The new idea and though is generated by the market research which
is conducted by the company. They basically observe and notice to the business environment and
afterwards analyse and then they go to any conclusion.
Idea screening :- Idea which is being made, should be taken into process by practically
implement them. They also do screening so they can able to know the idea's affordability and
market potential for strong footing.
Testing and development :- This is basic and important thing in the whole process. They
have to test the idea in the business environment so they will get to know that whether this will
be working or not and able to gratify to their consumer needs (Gambardella, 2010).
Business analysis :- They specifically test to the product and analyse that this idea and
product will be beneficial into the market or not.
Product development :- After to the actual process of product development . Which
derived as company will be enough capable to investigate that exact specification and design of
the method of manufacturing.
Commercialisation :- All the marketing plans and strategies should be finalised in this
stage of commercialisation. So they consider as a product available for the manufacturing.
Launch :- After going through all the stages, they prepare and finally introduced in the
market to that products. Therefore collect feedback of that product by the consumer.
P6 Innovation business case for organisation .
4Com company was introduced in 1999, which has basically an aim to improve the UK's
small organisation market's communication service (Ettlie, 2012). Business case is generally
develop to justify risk of investing in innovation, to highly convenience to the administration to
approve idea which is formulated to ensure that business think logically through with this
everything. There are few steps which is include in the case of 4com company are as follows:-
Executive summery :- This 4com company willingly provide innovative
telecommunication services to their customers in the whole UK. So, top attract large number of
the consumer which will help them to increase and earn good reputation in the business market.

The need :- There is company demands for the corporate customers through which they
can make effective use of there business phone systems, internet and business broadband.
Solution :- Solution is very needed and must to understand , so they can be helpful to
complete the basic requirements of the customers. So, on they make effective use of the product
which is being available by the company to their target clients.
Why product is innovative :- There is next phase of the innovation business plans, so
through which they know why the product of the company is use of innovative. 4Com is
providing the business phone system which use of the innovative technology used by the this
company named HiHi. This technology helps them to make various video calls with the help of
the business phone system.
Customer research :- In this step of the process, they make proper research to the target
market in which includes various consumer where they are focusing on (Bogers, 2012). This
company is specifically concerned about the corporate clients who make large us of the business
phones.
Design and development of plans :- After the entire market research, the design and
development of the product is done along with order to make product available in the business
environment.
Requirement of investment :- Like every organisation 4com also demands to be finance
and funds to make development of the product. Funds are mainly responsible to gathering all
different types of resources.
Expected benefits :- there are various benefits which company will get from the
innovative products that will be analysed in this phase.
There are various methods through which they can raise funding . They can boost up the
rapping method in which their own financial resources are being used by the company. In this
involve money from the saving account (Bogers, 2010) . Company can also use funds from
various sources in which includes their friends, family members, banks, financial loans,
institutions many more.

TASK 4
P7 Tools organisation use to develop, retain, protect knowledge and intellectual property.
Acquiring of knowledge and management is very essential for each and every kind of the
organisations. For the development of the fresh product in the market they needs to adopt new
technology same as the company Apple Inc. by acquisition of new tactics for example :- ipod. In
case of the virgin company they are in race of innovation too they also use different methods to
protect their intellectual property. 4Com also used in various tools in order to do so. Company
should examine all of the sources in phase of gathering knowledge of the business which
intentionally help in the progress and growth in retention of the workers.
These various ways which assist in gaining the competitive advantage are as follows:-
Consumer knowledge :- If company gather all the basic information in respect of
consumer's preferences, taste, needs and demands then this will be easy task for the company to
make all efforts to fulfil them (Bagchi-Sen, 2007). This all knowledge regarding the
development of the product is all collect by the company itself.
Suppliers and employees :- If they analyse the organisational environment and by taking
feedbacks, information from the clients of the company. There employees and suppliers will be
gathered by the business so on it will raise and monitor the performance of the entire
organisations.
Knowledge regarding market trends :- it is very essential to understand the current
trends of the market. As this will help to the 4com, to gather all the content in respect of new
technologies and competitors in the market (Aarikka-Stenroos, 2012). Acquiring knowledge in
the present market helps them in interpreting strategies in respect of price, product, place and
promotion.
Research and development :- By the assistance of proper research and analyse the
development by the company. They will be able to collect all the necessary information which
help in conception of fresh ideas and plans. The organization Apple Inc. helps making
innovative music player with the help of research and development.
Intellectual property refers to creations of the mind: inventions; literary and artistic
works; and symbols, names and images used in commerce. Intellectual property rights are like
any other property right; it allow creators, or owners, of patents, trademarks or copyrighted

works to benefit from their own work or investment in a creation. It is a reward creativity and
human endeavour, which fuel the progress of humankind.
 A copyright protects certain forms of expression; it includes works of art as well as
written materials. It does not include an entire broad subject or topic, but rather only what
you might express about that subject or topic.
 A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes
the source of the goods of one party from those of others. It can be word, phrase, symbol,
and/or design that identifies and distinguishes the source of a service rather than goods.
 A patent is a limited duration property right relating to an invention, granted by the
Trademark Office in exchange for public disclosure of the invention. Patentable materials
include machines, manufactured articles, industrial processes, and chemical
compositions.
CONCLUSION
As according this report, it is concluded that innovation and commercialization is very
essential for the organisation. It is important for the company to raise and create new ideas and
plans which is being made in the cognition of the product development. Commercialisation and
innovation will be assist for 4com company to collect more consumer in the existing and new
market. It is also analyse by this report that 4P's is very helpful for the organisation, if any of
organisation compel to this method then they will be able to achieve their goals and will
automatically build the market reputation. This assignment also helps to understand the value of
innovation in current market trends and these concepts effectively used and applied by the
organisation.

REFRENCES
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Online
Difference Between Invention and Innovation. 2016. [online]. Available
through:<http://keydifferences.com/difference-between-invention-and-
innovation.html>. [Accessed on 9th August 2017].