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The 4 Ps of Innovation and Business Model

   

Added on  2020-07-22

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INNOVATION
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK1.............................................................................................................................................3P1. Explain innovation and its significance to employees of A1 Comms Ltd............................3P2. Vision, Leadership, culture and teamwork that shape innovation process...........................5TASK2.............................................................................................................................................6P3. 4P's of Innovation and use of innovation funnel in order to shaping ideas amongemployees....................................................................................................................................6P4 Describing the process of developing frugal innovation in A1 Comms................................8TASK3.............................................................................................................................................9P5. Significance of commercial funnel and their application in new product development.......9P6. Innovation building case for A1 comms Ltd. Including way of access fund.....................10TASK4...........................................................................................................................................11P7. Different tools used for developing, retaining and protecting intellectual property...........11CONCLUSION..............................................................................................................................12REFRENCES.................................................................................................................................13
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INTRODUCTIONInnovation is consider as most important things which is essential from current presentscenario. In other word the term may be described as process in which something new isdeveloped which never exist in business world. It is an activity or plan in which organisation canmake changes in their goods and services which attract more customers. In dynamic environmentmodification has been done in rapid speed so in order to sustain in competitive market companyrequire to come with innovative and modern technology in order to gain the advantage overcompetitors. Under this assignment the company which is pre-freed i.e. A1 Comms which is UKbased telecommunication company and leading Unified business communication services andsolution providers that deliver B2B services (Adner and Kapoor ,2010). Further, companyfocusing on new digital technology in their telecom sector in order to enhance growth. Apartfrom it this discuss about the significance of innovation and its importance for workforce, Roleof vision, leadership and culture that shape innovation and importance of intellectual propertyrights for protecting interest of real owner. TASK1P1. 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 betterway. Under this method individual wants to innovate something new which differentiate theirproducts and services with other competitors. Therefore, it help in enhancing growth andproductivity of business. The most important thing that increase the brand image and goodwillof company is to provide standard quality of goods and services that allows clients to trust onthat brand and not switch over other rivalry. In many organisation staff members get confused become the term innovation andinvention which are totally different from each other and used differently in each and everycircumstances. The difference between innovation and invention can be prescribed below:-BasisInnovationInventionMeaningIt refers to a process thatimplies the implementation ofcreativity or idea for newproduct and services for veryfirst time.It described as term in whichidea for product and servicesare generated by usingdifferent process that neverexist before.
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ConceptIt is a way of practicallyimplement the new idea inexternal environment.Individual think it originallyand its working is done ontheory basisSkills and ability requiredUnder this processorganisation require set ofmanagerial, strategic andbusiness skills for making itprogressive.Need scientific skills becauseof which organisation need tohire such person which possesgood knowledge of scienceand arts.Concerned withIt is an combination ofdifferent products and processwhich need to be evaluatedfrom research andinvestigations.Under this case it is a way inwhich development is made onthe basis of single product andprocess.A1 Comms Ltd. Is a world famous operating telecom sector which face toughcompetition from their rivalry. Their are different new entrance in market who require hugecapital investment in order to start their business and find various types of hurdles and threats inorder to enhance profitability and productivity (Amit and Zott ,2012). Therefore, it is essentialfor small scale enterprises to adopt innovative and creative ideas in order to remain sustain inbusiness world. Apple Inc. is one the leading company who developed I pod that has a capacityof storing more than 1000 songs and USP of this product is that it is small in size and end themarket of Sony Walkman which is big in size and main reason behind it is the creative ideas andinnovative techniques which full-fill the requirement of niche business.Their are some advantages of innovation to A1 Comms and its staff workforce whichdescribed below:-From employees point of view:-It help in acquiring new skills and talent which boost up the career development ofemployees.Employee get an opportunities to learn something new and innovative which enhancetheir performance and allows them to solve complex problems.
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