Innovation Report of "Educ8 Group"

Unit 8
Innovation

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
LO1..................................................................................................................................................3
P1 Innovation and its importance in comparison of invention.....................................................3
P2 Effectiveness of vision, leadership, culture and teamwork that supports innovation and
commercialization........................................................................................................................4
TASK 2............................................................................................................................................6
LO2..................................................................................................................................................6
P3 Explain 4 p’s of innovation and use innovation funnel to shape innovative ideas.................6
P4 Development in frugal innovation and how it is used in organizational context....................7
LO3..................................................................................................................................................8
P5 Importance of Commercial funnel, New Product Development (NPD) and innovation. ......8
P6 Build an innovation Business Case of Educ8 Group to access the better funding...............10
LO4................................................................................................................................................11
P7 Evaluation of the various tools used by the organization use to develop, retain and protect
their knowledge and intellectual property..................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Innovation is an effective process to convert the effective product or innovative good into
the profitable business idea. The effective innovation process helps in the development of the
better goods or services that assist in fulfilling the identified requirements of the consumers (Ke
and et.al., 2016.). For that report, Educ8 group have taken as the organization of passage. It is
based on UK, SME which works in the education aspect. This report intent to effectively cover
better handling for the various operations which leads to the innovation in the organization in
comparison to the invention. Also, the impact of organizational leadership, culture and vision is
been discussed along with the commercialization. The 4 P’s of innovation and importance of the
frugal innovation and new product development cycle in been taken into the effective
consideration. Also, an innovative business case for funding and various measures to create, keep
and protect knowledge and intellectual belongings of an organization is been taken into effective
consideration (Yu and et.al., 2016).
TASK 1
LO1
P1 Innovation and its value in comparison of innovation.
The Educ8 group is UK based education and consultancy firm that work for the better
handling of instruction and training operation in UK. They take into consideration the
impressive, importance and effective standard that help in the effective handling of operational
activities that help in the significant increase in business activities and the profitability of
business enterprise. The better management for various operations assists in significant
improvement and development of various innovative business concern processes (Yin, Shi and
Yan, 2014.). The innovation is the procedure that assist in better management of the different
functions, increasing the maximizing the profitability of the enterprise. The effective innovation
process helps in better management of different business operational activities. Also, it is very
important for a firm like Educ8 Group. The innovative approach of the organization helps in the
important adoption of the different measures which will lead to the significant development of

the better-quality product and services to provide the effective satisfaction level to the consumers
and better revenue generation to the stakeholders of the cited firm. That help in the better
productivity and development of the business, improving work processes as well as efficiency
and operational capacity of the company.
Besides this the innovation is also important in a business firm as it helps in the effectual
improvement of work processes and enhances the operational standard of the firm. The better
innovation process will help in the significant rise in the potentiality of the operational process
that has increased the satisfaction level of the customers. For instance, the effective and
innovative method of using mobile devices like tablet PC’s for providing the education will pull
the maximum number of customers or students and will assist in providing the good and high
quality of services and products that will help in the rising the profits of the enterprises (Song
and et.al., 2016.). It is different from the invention process as:
Innovation Invention
It is the process of effectively using the
existing product or service to develop a better
product or service.
It is the process to develop a product or item
using the scientific concept.
It is the combination of technical and
management processes.
It involves only scientific approach by
research and development.
It is developed to solve a real time problem of
the customer.
This is developed as a result of executing
scientific operations.
It is the effective utilization of the invented
product.
It is the utilization of a concept or idea.
It increases the efficiency of the company (Ge
and et.al., 2017.).
Its improvers the scientific approach of an
organization.
P2 Effectiveness of vision, leadership, culture and teamwork that supports innovation and
commercialization.
The various operational factors like vision leadership, culture and teamwork effectively
plays a very important and crucial part in the development that supporting better innovation and
commercialization of the various products and services that are provides by the quoted firm and