Innovation in Organizations Assignment
14 Pages4508 Words61 Views
Added on 2020-06-06
Innovation in Organizations Assignment
Added on 2020-06-06
ShareRelated Documents
INNOVATION
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of innovation in organisation in comparison with invention .............................1P2 Organisational vision, leadership, culture and teamwork leads to shape Innovation. ..........2TASK 2............................................................................................................................................3P3 4P's of innovation and how they shape innovative ideas ......................................................3P4 Development in frugal innovation with example . ................................................................4TASK 3............................................................................................................................................5P5 Importance of commercial funnel and application of NDP process for commercialisationof innovation ..............................................................................................................................5P6 Innovation business case for organisation ...........................................................................6TASK 4............................................................................................................................................8P7 Different tools that organisation use to develop, retain, protect knowledge and intellectualproperty. .....................................................................................................................................8CONCLUSION ...............................................................................................................................9REFRENCES ................................................................................................................................10
INTRODUCTIONIt is essential for each and every organisation, to create new changes at particular timeinterval in their commodities and services which they are offering to their consumer. Thisassignment is basically revolve around the two segments one is innovation and another iscommercialization (Thore, 2012). They defined entire process through which they make changesin the whole organisation. Along with this improve the utility and services of products for theirtarget audience with the help of making new ideas and implement those strategies . There isrelationship between commercialization and marketing activities which directly and indirectlyhelp company in developing products. There is advantage of industry by using various markettrends 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. Theirmain objective is to provide innovative services to their customers. So this report is going to helpin 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, protectknowledge and intellectual property. TASK 1P1 Importance of innovation in organisation and its comparison with inventionCreativity is described as a process through which company make any kind of good andcreative change in their products and services to make it more useful for the consumer. In thecase of 4com company, Innovation is a key to modify their products although in order to meettheir target. 4com is a company which maintain their own culture in respect to the creation. Theterm innovation means to coming up with new ways of doing things. Bringing innovation intobusiness can help save time and money, and give the competitive advantage to grow and adaptdiversity at marketplace. Along with this, it also consists to change business model and adaptingto changes in environment so as to deliver better products or services. Successful innovationshould be an in-built part of business strategy, where managers create a culture of innovationand lead the way in innovative thinking and creative problem solving.They make new ideas, strategies by enhancing technological devices and implement them onproducts and services of company. There is significance of innovation in organisations are asfollows: - Enhance productivity: - If any of the organisations use new and innovative ideas andimplement on their respective production process of their commodities, then this will help themin 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 inreducing some wastage attentiveness to organisation's wealth, finance and technology. This willautomatically help to employees in engage with proper utilization of resources (Teece, 2010). Helps in improving communication skills: - This innovation assistance to createinformation flow through which all functions operate properly. This willingly help in propercontrol of work, addition in employee's morale which leads to developing team work. Properflow 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 reducepossibility of issues and problems at workplace. It intentionally supports 4com company to make
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Innovation and Commercialisation - 4Comlg...
|13
|4468
|29
Report on Innovation and Its Importancelg...
|17
|4894
|37
Innovation INTRODUCTION 3 TASK 14 P1 Innovation and Commercialisationlg...
|13
|4086
|105
Innovation INTRODUCTIONlg...
|15
|4144
|290
Innovation and Commercialisation in 4Comlg...
|16
|5129
|28
Innovation And Commercialization Assignment- 4Com Companylg...
|14
|4971
|73