The 4 Ps of Innovation and Business Model

The provided text discusses various sources related to innovation, including articles from Harvard Business Review and Research Policy. It covers topics such as value creation, business model innovation, open innovation, and the financing of R&D and innovation. The assignment likely requires students to analyze or apply these concepts in a real-world scenario.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK1.............................................................................................................................................3
P1. Explain innovation and its significance to employees of A1 Comms Ltd............................3
P2. Vision, Leadership, culture and teamwork that shape innovation process...........................5
TASK2.............................................................................................................................................6
P3. 4P's of Innovation and use of innovation funnel in order to shaping ideas among
employees....................................................................................................................................6
P4 Describing the process of developing frugal innovation in A1 Comms................................8
TASK3.............................................................................................................................................9
P5. Significance of commercial funnel and their application in new product development.......9
P6. Innovation building case for A1 comms Ltd. Including way of access fund.....................10
TASK4...........................................................................................................................................11
P7. Different tools used for developing, retaining and protecting intellectual property...........11
CONCLUSION..............................................................................................................................12
REFRENCES.................................................................................................................................13

INTRODUCTION
Innovation is consider as most important things which is essential from current present
scenario. In other word the term may be described as process in which something new is
developed which never exist in business world. It is an activity or plan in which organisation can
make changes in their goods and services which attract more customers. In dynamic environment
modification has been done in rapid speed so in order to sustain in competitive market company
require to come with innovative and modern technology in order to gain the advantage over
competitors. Under this assignment the company which is pre-freed i.e. A1 Comms which is UK
based telecommunication company and leading Unified business communication services and
solution providers that deliver B2B services (Adner and Kapoor ,2010). Further, company
focusing on new digital technology in their telecom sector in order to enhance growth. Apart
from it this discuss about the significance of innovation and its importance for workforce, Role
of vision, leadership and culture that shape innovation and importance of intellectual property
rights for protecting interest of real owner.
TASK1
P1. Explain innovation and its significance to employees of A1 Comms Ltd.
Innovation is that part of business that change the shape of whole organisation in better
way. Under this method individual wants to innovate something new which differentiate their
products and services with other competitors. Therefore, it help in enhancing growth and
productivity of business. The most important thing that increase the brand image and goodwill
of company is to provide standard quality of goods and services that allows clients to trust on
that brand and not switch over other rivalry.
In many organisation staff members get confused become the term innovation and
invention which are totally different from each other and used differently in each and every
circumstances. The difference between innovation and invention can be prescribed below:-
Basis Innovation Invention
Meaning It refers to a process that
implies the implementation of
creativity or idea for new
product and services for very
It described as term in which
idea for product and services
are generated by using
different process that never

first time. exist before.
Concept It is a way of practically
implement the new idea in
external environment.
Individual think it originally
and its working is done on
theory basis
Skills and ability required Under this process
organisation require set of
managerial, strategic and
business skills for making it
progressive.
Need scientific skills because
of which organisation need to
hire such person which posses
good knowledge of science
and arts.
Concerned with It is an combination of
different products and process
which need to be evaluated
from research and
investigations.
Under this case it is a way in
which development is made on
the basis of single product and
process.
A1 Comms Ltd. Is a world famous operating telecom sector which face tough
competition from their rivalry. Their are different new entrance in market who require huge
capital investment in order to start their business and find various types of hurdles and threats in
order to enhance profitability and productivity (Amit and Zott ,2012). Therefore, it is essential
for small scale enterprises to adopt innovative and creative ideas in order to remain sustain in
business world. Apple Inc. is one the leading company who developed I pod that has a capacity
of storing more than 1000 songs and USP of this product is that it is small in size and end the
market of Sony Walkman which is big in size and main reason behind it is the creative ideas and
innovative techniques which full-fill the requirement of niche business.
Their are some advantages of innovation to A1 Comms and its staff workforce which
described below:-
From employees point of view:-
 It help in acquiring new skills and talent which boost up the career development of
employees.

 Employee get an opportunities to learn something new and innovative which enhance
their performance and allows them to solve complex problems.
 Employees boycott the attitude of resistance towards changes and easily adapt all the
modification arises in organisation structure. Apart from it help in increasing the efficiency and effectiveness level of staff members.
From organisation point of view:-
 It allow the organisation to easily understand all the needs and requirement of customer
so they make modification in their existing and new product items.
 Company can create better brand image and goodwill through better and advanced
technologies in their services which increase the graph of growth as compare to previous
year.
 Enhance the profitability ratio and increase the liquidity capacity of company.
All the above points are the benefits that can be gain from innovation after
implementation of whole process in successful manner. Therefore, A1 Comms Ltd. Ensure the
continuous improvement in their working structure for the purpose of accomplishment of goals
and objectives.
P2. Vision, Leadership, culture and teamwork that shape innovation process
Innovation is describes as an method which required to be mixed into basic organisation
process in order to get good outcomes in future. Company need to utilise their tools and
techniques in order to accomplish long term vision in proper manner. Therefore, there is an huge
responsibility of managers and leaders to provide further direction to their employees so they use
modern technology in good and effective manner. Combination of abilities, skills and
capabilities at the time of using innovative tactics allow organisation to increase their growth and
development in effective and efficient manner (Boudreau and Lakhani ,2013). Organisation has
their own vision, mission and leadership which require to improve according to working climate
so that team work will be encouraged. Some important factors that describe the innovation in
following manner:- Vision:- It can be described as long term objective of organisation that help in enchaining
growth and development. At the time of establishment of company the foremost thing
management require to do is the formulation of vision on the basis of targets and goals
can be developed. The vision of firm is very simple “ Getting the top most place in

telecommunication sector by providing effective and innovative solutions.” the main
objective of company is to maintain good network for improving connectivity in united
kingdom. Mission:- it is consider as part of vision which is made for short term basis in which
organisation established their strategic policies and procedures in such manner that assist
in achieving ultimate objectives of company. Culture:- In order to develop the organisation in better and competitive manner it is
important to maintain ethical principles in their corporate culture so that employees
complete their daily targets in good and effective manner. Company HR manager need to
create such policies which ensure fair trade practices that allow the workforce to maintain
decorum and honesty in environment. Leadership:- Leadership is a way of influencing the behaviour of other by the act of
individual that inspire other person to follow that same path in their life. In other way it is
an special quality that develop in person from their birth and in case of organisation that
person guide their team members that how effectively they achieved their daily targets in
proper manner. Further, this is another method to generate motivation in whole
workforce.
 Teamwork:- In big organisation it has been seen that at the time of mutual objectives
company succeed to achieved them only when all the members work in coordinated and
cooperative manner. If team spirit maintain among internal employees then it allows
them to share their ideas and opinion which motivate and encourage them to perform job
in good manner. Apple Inc. is one of the organisation that divide their work in different
department according to the specialisation of individuals that allow that to enhance the
standard quality and effectiveness in working culture.
Therefore, it is vital for A1 Comms Ltd. To follow all the above mentioned points in order to
develop more innovative techniques in their telecommunication business. Their are different
rivalry in telecom sector that already made their strong brand value in market so in order to
achieve success whole management team of A1 Comms Ltd. Come with additional features in
their telephone along with Wi-Fi facility which is possible through good corporate culture of
business.

TASK2
P3. 4P's of Innovation and use of innovation funnel in order to shaping ideas among employees
The goals of company is that at the time when management highlighted their issues and
problems manager must ensure the utilization of some innovative tactics in their business culture.
The innovation funnel give the whole summary about all the steps that taken place at the time of
developing any product and process (Brown and Wyatt ,2010). In other words main objective of
innovation is to create such product or process that fulfilled the present market needs in both
manufacturable and economic forms. Different research has been conducted has been conducted
at the time of innovation funnel in which innovative idea or creativity come in practically in the
form of products. Therefore, it assist in explaining all the directions which need to be followed
by individual to innovate are stated below:-
4Ps of innovation Products:- It is vital concept in whole innovation process that offers to end user to satisfy
their needs. Product can be develop by collecting all the information and data related to
different variables of market and its capabilities. For example A1 Comms Ltd. Is one the
telecommunication company that supply their packages and services which are fully
competitive and able to beat all the challenges of rivalry. Apart from it if company adopt
innovative techniques of Apple Inc. then they able to gain sustainability in external
competitive market. Process:- This step define the overall procedures at the the time of manufacturing goods
and services or in other ways a time consuming thing that attract consumers towards that
company. Using innovative techniques allows firm in reducing the cost of product and
increases the efficiency of enterprise. Apple Inc. is one of the leading brand that deals in
software development, mobile phone and other thing and main USP of company is term
work and because of which they developed I pod which is small in size and far better
than Sony Walkmans which allows workers to achieve goals in effective manner. Positioning:- A1 Comms Ltd. Need to research all the innovative techniques that used by
their competitors in order to beat all the challenges of rivalry. Company require to learn
that how they place the products in the mind of target audience in order to satisfy their
demand and wants. From the research data it has been seen that telecom sector is one the

growing industry that touch the path of success in very fastest manner in order to adjust
with changing environment.
 Paradigm:- In every organisation there are some factors and aspects which can be
utilised in developing innovative activities or in other word a complete observation is
required for formulating action plans in order to combining the creative and innovative
features in the whole process of business organisation.
A1 Comms required to make additional changes in order to create the value for their goods and
services in order to attract the potential customers. Innovative managers provide direction to their
employees in order to develop product and services that increase the goodwill and productivity
of business which leads to lowering the cost and enhance effectiveness in better way.
P4 Describing the process of developing frugal innovation in A1 Comms
In organisation innovation can be described as process that used in designing the products
that helps in achieving accurate level of productivity and efficiency. Frugal innovation is the
method of describing the whole procedures which were used at the time of developing new
product (Chesbrough ,2010). Hiring of professional staff allow the organisation to used their
skills and abilities at the time when they facing any complex situations and at the time of taking
rational decisions. Apart from it Budgeting is the source through which overall financial
performance can be evaluated and prepare after comparing the actual needs with the potential
needs of buyers. Following points must be considered by the managers are described below:-
 Managers require to examine the people who have ability and capabilities in order to lead
the workforce within company this allows them to accomplish daily targets on stated time
period.
 If management team having wider knowledge of whole innovation process then it helps
them in formulating strategic policies and procedures.
Both Apple Inc. and Virgin Group utilised their available resources in order to accomplish all the
task and targets in effective manner by using their own professional skills and capabilities.
Enterprise uses frugal innovation techniques in order to minimise the cost and time at the time of
consumption of products. In Business world Apple Inc. is one of the innovative company which
deeply understand all the needs and wants of costumers in proper way which allow them to
minimise all the intervention of mediator who uses their finance and resources because of which

market data are not achieving in effective manner. Apart from it this allow employees to share
their issues and problems which motivates them to do effective work.
Various advantages can be availed by developing frugal innovation and it can be understood on
the basis of following points:-
 Innovation frugal allows organisation to easily identify opportunity that ensure better
profitability and efficiency in their working culture.
 In dynamic environment different changes are occur in random basis so in order to sort
out all the issues and problem organisation need to scan external market on daily basis so
that all the barrier arises in accomplishment of targets can be removed.
 Formulation of proper strategic policies and procedures allows organisation to get
competitive advantage over competitors.
 It assist managers to organise systematic programmes of training and development in
order to teach all the employees how to use all the innovative techniques at the
performing any activities for getting better outcomes in future.
 Proper monitoring and continuous observation allow management to get all the data and
information about different employees specially regarding their skills and capabilities at
the time of doing any work.
 Replanning must be their and all the modification will be added into strategy which
allows them to accomplish desired goals in appropriate manner.
 Sustainability can be maintained by using creative and innovative ideas in further
development of products and services.
TASK3
P5. Significance of commercial funnel and their application in new product development
Commercial funnel can be described as process in which different research method has
been used for success of organisation. In other word it is a way of converting the potential
consumers into end consumers of product and services. On the other hand new product
development is the complete procedures which used to developing new product in market that
attract customers and satisfy their needs in better way (Crossan and Apaydin ,2010). Proper
framework and designing the product in different way allow them to gain competitive
advantages over rivalry.

Therefore, A1 Comms must analysis all those factors and elements that help in reducing
risk associated with particular activity. Recently organisation facilitating different types of
telecom services to the enterprise but they need to make innovative changes and digitalisation on
their existing and new services so that they strengthen their position in external market. After
that company need to follow different steps:-
Idea:- Firstly they need to search a better idea in order to developing the product in market so
that creativity come in practical life.
Research:- After getting an idea individual research about the primary and secondary data that
are related to that product to know that idea of launching is relevant or not.
Develop:- Under this stage whatever the idea come in mind need to develop in such manner that
help in satisfy current needs of costumers.
Testing:- After final development of product and services company management team has tested
it on some limited customer to know the goods and bad thing which they experienced by using it
so they make improvement if possible.
Analysis:- After getting the feedback from different customer research team analyse all the
situations and come at final conclusions before launching product officially.
Introduction:- Finally the product and service whatever the idea is launched in market in order
to earn profit and brand value.
All the above point must be considered by A1 Comms Ltd before launching any new product in
market and also analysis the 4P'S of innovation in order to manage all the resources effectively.
P6. Innovation building case for A1 comms Ltd. Including way of access fund
In every organisation managers need to develop such types of case that help in achieving
the objectives and it also includes investing time, money and capital into project which allows
them to use all the resources in order to get high level of returns (Dahlander and Gann ,2010).
Apart from it is a basic concept which is used for developing new product. Various steps which
need to follow under it:- Gathering inputs:- Under this step manager need to collect all the data and information
in order to assisting other activities of organisation in efficient manner. Analysis:- Whatever the data collected by managers should be analyse and implement it
in proper manner for better results.

 Conclusion:- Under this step in which different operation related to business are
developed and declared in the front to top management so they take rational decision
making.
 Understand the objectives:- After knowing the vision of organisation the next thing the
manger has to focuses is related to the overall objectives which enhance the growth and
productivity.
Apple Inc. and Virgin group both are developed multinational company having own brand value
and goodwill in market. A1 Comms in order to implement their upcoming project has to manage
finance which can be arranged through investors which described below:- Business investor:- These are those individuals who believes in investing more money in
market and if they find good opportunity they definitely invest money in it without
concerning about risk.
 Venture capitalist:- These firm are generally establish in order to facilitate finance to all
start ups who are innovative and creative in their business plan and they feel that
particular association provider higher returns in future.
TASK4
P7. Different tools used for developing, retaining and protecting intellectual property
Intellectual property rights are those exclusive rights which is given to an individual in
respect to their ideas, thoughts and all the tangible and intangible assets (Edquist ,2010). At the
time when any person create something new and innovative and if it is officially success in
market so in order to protect it from unfair or fraudulent use intellectual property rights has been
given are described below:-
 Patent
 Copyrights
 Innovation rights
 Trademarks
 Trade secret
A1 Comms Ltd. Deals in telecommunication sector holds different types of property so in order
to protect in from fraudulent act UK government formulate various types of legal laws which
safe real owner from such losses. So, various types of intellectual property rights are described
below:-

 Copyrights:- This act is enforced by UK government in year, 1988 that give exclusive
right to real owner in respect to their original artistic work and if any person wants to use
that brand then it has to take permission from real owner and return make the payment in
form of royalty. Patent:- This right has been given at the time when individual develop something
innovative or creative and it can be protected through patent act on the basis of which no
other person can used it without taking permission. Trademarks:- It means use of symbol, sign, design and any other aspect that distinguish
the product and services of individuals from others. The owner of that trademarks get the
legal right to use it exclusively and get the right to sue if any other person take
disadvantage of it.
 Trade secret- It can be described such method in which different design, activity, process
and pattern are used in order to gain competitive advantages over competitors.
CONCLUSION
It has been concluded from the above assignment that innovation plays an important role in the
growth and profitability of business. A1 Comms Ltd. In order to maintain sustainability required
to used proper methods and techniques through innovation frugal and also take the assistance
from 4P's of innovation in strengthen the product portfolio of company. Apart from it some legal
right related to intellectual property has been given in order to protect real owner from unfair and
fraudulent trade practices of others.

REFRENCES
Books and Journals
Adner, R. and Kapoor, R., 2010. Value creation in innovation ecosystems: How the structure of
technological interdependence affects firm performance in new technology generations.
Strategic management journal. 31(3). pp.306-333.
Amit, R. and Zott, C., 2012. Creating value through business model innovation. MIT Sloan
Management Review. 53(3). p.41.
Boudreau, K .J. and Lakhani, K. R., 2013. Using the crowd as an innovation partner. Harvard
business review. 91(4). pp.60-9.
Brown, T. and Wyatt, J., 2010. Design thinking for social innovation. Development Outreach.
12(1). pp.29-43.
Chesbrough, H., 2010. Business model innovation: opportunities and barriers. Long range
planning. 43(2-3). pp.354-363.
Crossan, M. M. and Apaydin, M., 2010. A multi‐dimensional framework of organizational
innovation: A systematic review of the literature. Journal of management studies. 47(6).
pp.1154-1191.
Dahlander, L. and Gann, D. M., 2010. How open is innovation?. Research policy. 39(6). pp.699-
709.
Edquist, C., 2010. Systems of innovation perspectives and challenges. African Journal of
Science, Technology, Innovation and Development. 2(3). pp.14-45.
Gassmann, O., Enkel, E. and Chesbrough, H., 2010. The future of open innovation. R&d
Management. 40(3). pp.213-221.
Hall, B .H. and Lerner, J., 2010. The financing of R&D and innovation. In Handbook of the
Economics of Innovation (Vol. 1, pp. 609-639). North-Holland.
Kline, S .J. and Rosenberg, N., 2010. An overview of innovation. In Studies On Science And The
Innovation Process: Selected Works of Nathan Rosenberg (pp. 173-203).
Lee and et. al. ,2010. Open innovation in SMEs—An intermediated network model. Research
policy. 39(2). pp.290-300.
Lundvall, B. Å. ed., 2010. National systems of innovation: Toward a theory of innovation and
interactive learning (Vol. 2). Anthem Press.
Patti, G .J., Yanes, O. and Siuzdak, G., 2012. Innovation: Metabolomics: the apogee of the omics
trilogy. Nature reviews Molecular cell biology. 13(4). p.263.
Teece, D .J., 2010. Business models, business strategy and innovation. Long range planning.
43(2-3). pp.172-194.
Online:-
The 4 Ps of Innovation 2018 [Online]. Available through <https://hbr.org/2010/06/the-4ps-of-
innovation>.