Innovation in 4Com limited : Report

Added on - 21 Jul 2020

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INNOVATION
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Innovation and its importance to employees with a difference with invention................1P2 Organisation vision, leadership, teamwork in shaping innovation and commercialization3M1...........................................................................................................................................4D1...........................................................................................................................................4TASK 2............................................................................................................................................4P3 Explain 4P's of innovation and use of funnel innovation..................................................4P4 Development of Frugal innovation...................................................................................6M2...........................................................................................................................................7M3...........................................................................................................................................7TASK 3............................................................................................................................................8P5 Importance of commercial funnel and application of NDP..............................................8P6 Building of innovation business case including ways to access funding..........................9M4.........................................................................................................................................10D2.........................................................................................................................................10TASK 4..........................................................................................................................................10P7 Different tools that an organisation can use to develop, retain and protect intellectualproperty.................................................................................................................................10M5.........................................................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONBoth innovation as well as invention is totally distinguish from each other but someindividual consider it same. Innovation means modify existing goods and services of associationwhere as invention means produce different thing for people which is not similar to other items(Wooten and Ulrich, 2017). Present assignment is based on 4Com limited which is doing theirbusiness in telecommunication and much popular in entire world. They are having almost 5000workers in their business. Fundamental aim of this report is to determine difference amongstinnovation as well as invention. It is required for firm to decide their vision, mission, goals andso on; thus, they can provide direction to their staff members. This assignment is going to discussabout 4P's of innovation and utilization of funnel innovation. Company can usecommercialisation to introduce their items at international market. Along with this, to protectintellectual property manager can use various tools such as copyright, design and many more.TASK 1P1 Innovation and its importance to employees with a difference with inventionIt is fundamental for each and every type of firm to alter their activities as well asoperations as per time. As a result, they can easily attain desired targets and goals within limitedperiod of time and will acquire long term success. Both leader as well as manager has to gatheressential data and information from marketplace; therefore, they can change their goods andservices as per need of their customers(Camagni, 2017). This will be known as innovation inproducts. Innovation is considered as a procedure and as per this, employer will add someadditional features into items or may be develop new goods.If manager wants to make their products more attractive then, it is fundamental for him toimplement new thoughts into it; thus, they can attract more people towards them. This will aidthem to compete with their competitors at competitive world. 4Com wants to provide wirelessservices to their users. For above stated purpose, they want their staff members more skilled aswell as knowledgable. As a result, this will help them to get more share at marketplace for longerperiod of time. Along with this, innovation will assist workers to enhance their working abilitiesand gather data from market; thus, they can easily deal with their customers. There are varioussignificance related to innovation to staff members are stated as beneath:1
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