Innovation Strategies

Running head: INNOVATION STRATEGIES
Innovation Strategies
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1INNOVATION STRATEGIES
Table of Contents
Type of innovation according to the Doblin’s framework in the expanding door innovation...3
Ways by which an innovator create and captures value and identification of potential
customers....................................................................................................................................3
Different types of IPR protected by the Innovator.....................................................................4
References..................................................................................................................................4

2INNOVATION STRATEGIES
Type of innovation according to the Doblin’s framework in the expanding door
innovation
Based on the Doblin’s framework, there are ten major types of innovation such as the
profit model, network, structure, process, product performance, product system, service,
channel, brand and customer engagement. The new door expansion aspect should pave way
for transforming the offerings of the organisation and manage other sources of value creation
into cash by bringing something new, furthermore create new opportunities to enhance
technological outcomes and ensure generating higher revenue (Saebi and Foss 2015). The
network innovation can allow for sharing risks while introducing new expanding door,
thereby, harness the assets and capabilities of the organisation to prevent occurrence of thefts.
To implement an effective innovation idea, the company needs to align the innovation
strategy with the talents and assets by encouraging the employees to carry out research and
development activities. This could make them skilled and knowledgeable enough to
implement IT systems and facilitate the uniqueness and efficiency of the expanding door to
lock small and large parcels (Poot, Faems and Vanhaverbeke 2014). The product
performance concept for the expanding door is also supported by Doblin’s framework to
improve the performance of the expanding door and allow the business to gain competitive
advantage in business. The expanding door must be marketed in such a manner that the
clients are aware of it and can understand the efficiency of its usage, which can amplify the
value of the product and ensure that the clients gain interest and are influenced to make
purchases again. To represent the product in the marketplace, it is important to manage good
communication through promotional and advertising strategies that can transform the product
into a prized product and make customers believe that their parcels and delivered products
can be much safer with lesser chances of theft with the use of the expanding door (Prajogo