Innovation Management and its Frameworks

This assignment delves into the crucial field of innovation management, examining various established frameworks that guide its successful implementation. It covers concepts like open innovation, national systems of innovation, and business models, while encouraging critical analysis of their effectiveness in diverse organizational contexts.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and its significance in comparison with invention..............................................1
P2 Organisational vision, teamwork, leadership and culture can change shape of innovation...2
TASK 2 ...........................................................................................................................................4
P3 4p's of innovation and uses of funnel innovation..................................................................4
P4 Development in Frugal innovation in context to company....................................................5
TASK 3............................................................................................................................................6
P5 Importance of commercial funnel and application of NPD processing.................................6
P6 Innovation Business Case for business organisation.............................................................7
TASK 4 ...........................................................................................................................................8
P7 Tools that organisation can use to develop, retrain, intellectual property.............................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation means to develop or create new ans unique ideas related to any products,
process, technology and services. It helps in finds new methods to finish the work or task. EE
business organisation is a small business company and it deals in providing mobile networks,
internet service provider ans also a IPTV provider. It operates its mobile network services in
United Kingdom and it is also a largest 4G service provider. In this report mentioned about the
innovation and invention and its significance. This leadership, culture, vision and teamwork can
helps in give the shape to commercialisation and innovation (Adner and Kapoor, 2010).
Company uses 4p's of innovation and innovation funnel can helps in give the shape to innovating
ideas. In this present report, mentioned about the development in frugal innovation in business
context. There are some importance of commercial funnel and company uses new product
development for introducing new products and services. This business firm uses some tools and
techniques to develop and protect knowledge of intellectual property.
TASK 1
P1 Innovation and its significance in comparison with invention
Innovation means to use unique idea in to action form. Innovation helps in making
products better and it also helps in make changes in goods or services according to customers
preferences. This term helps in developing new ideas and methods related to any technology,
process, products etc. EE limited company provides 4G services to its customers which gives
high quality of Internet and calling facilities to its customers. It is a largest mobile network
provider in United Kingdom. This company introduces new and innovative ideas to make its
business better and successful and to fulfil the needs and wants of customers. Invention refers to
discovering new things with do not exist before (Brown and Wyatt, 2010). Invention of new and
unique things can be patented and render safety and security to inventors for their intellectual
property. There are some differences between the invention and innovation:
1. Invention means to discovering new things which do not present before and on
other hand innovation Emacs to crating and generating new ideas in to reality.
2. In invention, there is a requirement of only scientific skills and innovation, there
is need of technical, marketing, communication and interpersonal skills.
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3. Invention refers to creation and introduction of a process at first time and
innovation refers to improvement in existing products or services, process.
4. Invention is related to single process or goods and innovation is related to mixture
of many goods, services and processes.
5. In invention there is activities involved related to research and development and
in innovation, every person of an organisation are involves in it.
Innovation is very important for ever field and also helps in making the the process of business
successful. It is very helpful in making the small business successful. It has some importances in
business:
Growth and Productivity- From innovation, company makes changes in its products
specifications and features which can satisfy the needs and wants of customers (Crossan and
Apaydin, 2010). It will helps in increasing the sales and also helps in enhancing the productivity
and profitability of business firm.
Helps in attracting customers- If employees think new ideas to make products attractive
and different from other telecom business enterprise. This organisation use many ways to retain
its existing customers and to attract new buyers. Innovation helps in making all things successful.
Helps in improving communication- Innovation helps in improving and maintaining
the communication between different departments or employees. For creating new products or
for changes in existing goods, employees will interact with each other and discuss about the new
features. Through this, communication level will be increased and also helps in building the
relationship healthy and harmonious.
Apple Inc. organisation render good quality products and services which can help in
satisfy the demands of customers. Both companies make changes in its products according to
change in taste and preferences of people.
P2 Organisational vision, teamwork, leadership and culture can change shape of innovation
In any business firm, culture, teamwork and leaders plays important role. It all are helpful
in making business process successful. In this organisation there are many employees are
working (Dahlander and Gann, 2010). The vision, leadership, teamwork and culture can helpful
in changing the shape of innovation and commercialisation.
Vision- It refers to think about future regarding company prospectus. The vision of EE
limited company is to gives better services to its customers. From this, people can trust on
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company to provide them digital living. It want to be a biggest digital network provider in all
over the world. On the other hand Apple Inc. wants to provide phones with better quality features
and which are different from other companies cell phones.
Leadership- It helps in guide or leads employees in an organisation. It helps in
commercialisation and innovation to new products. Leaders provide proper guidance to its team
members and the team members of company give their contribution in innovation process
(Davila, Epstein and Shelton, 2012). They gives their full support in introducing new products
and modification in existing products. Leaders motivate their employees towards teamwork
without arising any conflict.
Teamwork- It is very important in doing any work. In EE private limited business
organisation, every employees work in a team and give their full contribution in innovation
process. To work in a team, managers motivate its employees. They work in a team by using
their skills, knowledge and abilities. From working in a team, the efficiency and effectiveness of
business will be increased and it will helps in increasing the profitability and stability of
business. In a team, every members work on achieving the common objectives and aims of
business firm. There are some skills are required for teamwork like for instance:
 Proper communication
 Keeping aside person glory
 Accord building
 Compromise
Culture- Every business organisation work in a different culture. The culture is not same
of every business. Culture refers to morals, values, beliefs, society's rules and regulations which
are created by people of society. In a company, there are many people are working and they all
are from different culture (Gassmann, Enkel and Chesbrough, 2010). To innovate new ideas, it
should be necessary to maintain good organisational culture of company. In organisational
culture involves:
 way of employer teasing his employees
 Give freedom in decision making process to employees by its employer.
Sometimes, the organisational culture impact on the productivity and goodwill of
company. If the management will not treat its employees in well manner and will not give
respect to its employees, then they will not do their work properly and work for achieving goals
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of business enterprise. So, it is necessary to maintain good culture and it helps in innovation and
commercialisation.
TASK 2
P3 4p's of innovation and uses of funnel innovation
Innovation funnel helps in improving the good quality standard of products and services.
There are 4p's of innovation and that are product, position, process and paradigm innovation.
Product innovation- This type of innovation helps in making the goods and services
effective and also helps in modification or adding new features and specifications in it (Hall and
Lerner, 2010). The team members of this company, works on making products and services
attractive by innovating new ideas.
Process innovation- Process helps in make the goods better. In this, innovation helps in
make the production process better. From improving in the process, the quality standard of
products will be improved. And from it, the sales efficiency of goods will be improved and also
helps in increasing the goodwill and growth of this organisation.
Position innovation- The management of this business enterprise, re position the
perception of an existing products and services, process and technology in a particular context. It
means top make changes in specific process in which products are to be detected.
Paradigm- It means the framework and shape of business organisation. If the structure of
company will be good , then there will be no issue arise and helps in innovating new ideas.
Funnel innovation helps in developing the process, goods or services. The basic objective
of this innovation is top introduce those types of products which are according to market
expectations. This funnel innovation provides a graphic structure for innovation about
developing another option. In this innovation, there are three challenges are included (Hjalager,
2010). These all are as follows:
Wide of mouth- On this step, this business firm enhances its abilities, knowledge,
information and data. The main objective of this step is to collect more ideas effectively. If the
ideas will be more, then the number of products will also be more that organisation can easily
introduces. The main strategy of this company is to sources of collection of information. There
are two sources from where information can be collected that are primary and secondary sources.
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From primary sources data or information can be collected through conducting survey,
questionnaire etc. and in secondary data data can be gathered from mag zines, books, libraries,
internet etc.
Narrowing segment of funnel- In this step, there is a need to do screening of ideas
which are generated inn first stage (Huberman and Miles, 2013). In screening process includes
matching all ideas with the objectives of company to see that ideas are related to business goals.
Narrow segment of Funnel- In this stage, confirms that the chosen ideas present on
organisational goals that are to be anticipated at the time of business firm was started. The new
services and goods is launched or market at this step.
P4 Development in Frugal innovation in context to company
Frugal innovation is very helpful in introducing new business models and it also helps in
modifying the products or services to provide satisfactory services to its customers. If company
render products with good quality standard then it will helps in retain its existing customers and
attracting new customers or market. The main main of this inno0avtion is to reducing any
damages ans wastages from products or from manufacturing process. Like for example, Apple is
a good brand and this company makes I Phones, from this frugal innovation this company can
make changes the features of its phones and also give additional facilities in I Phones.
In coming days, advances technology helps in making the manufacturing process good
and from this the national income of country will be maximised. From this, more buyers can
purchase costly products and from this, the living standard of people will be improved. Frugal
innovation helps in development of goods (Huizingh, 2011). The following points can be
considered in development of Frugal innovation:
By adding extra features- From adding some additional features in products,
organisation can make its products attractive. This frugal innovation technique helps in make
making products effective.
Reduction in production process cost- This EE limited company works on reducing or
minimizing the cost of production by musing the optimum resource and provides its goods on
reasonable cost. If this business enterprise acquire good raw materials at low price from suppliers
then from this, company will supply its goods and services at less cost to its buyers.
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Adopting new and advanced devices- By using new technology, company can improve
in its services and provide good quality products at low cost. From adopting technology,
company can changes in its production process.
TASK 3
P5 Importance of commercial funnel and application of NPD processing
The commercial funnel is a process of purchasing that company lead to consumers at the
time of buying products (Leiponen and Helfat, 2010). It is a mapping that represents actual
present selling of its business. This funnel helps in modification in present products to retain its
active customers or to attract new buyers. There are following points which describe the
importance of commercial funnel:
To improve quality of products- Commercial funnel helps in improving and increasing
the quality standard of its services and goods.
Minimizing losses- This funnel helps in minimizing the manufacturing cost and it helps in
minimizing the additional price.
Research programme- This business firm conduct research programme for doing the
market survey and for knowing market strategies and competitors. From doing market research,
the researcher can collect information from primary and secondary sources. Before launching
any new products and services, it is necessary to know about marketing strategies.
Building reputation- If this business firm will render better quality standard goods at
reasonable prices, it it will helps in attracting customers and also helps in maintain good image in
front of people.
Growth and profitability- If an organisation produces goods according to customers
demand, then from this the sales of company increases and its profitability or growth will also
enhances.
New product development helps at the time of introducing new services and goods in
market. EE private limited company use process of new product development for introducing
new mobile phones (Lundvall, 2010). In its process, there are some steps included:
Idea generation- It is a first step, in this stage, there is a need of generation of idea before
introducing any new product. This company develops innovative ideas by knowing the internal
and external SWOT (strengths, weaknesses, opportunities and threats) analysis.
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Screening idea- After generating ideas, in this stage, there is a need of choose one best
idea which should be reliable, meaningful and workable and which helps in minimizing the
damages in production process.
Concept definition- After screening stage, there is a requirement to testing the concept of
products. In this included the legalities, patent research etc. with new product development. It
considers conditions like for instance design of goods, technical feasibility etc.
Strategic analysis- In this, company do analysis of its strategic plan and ensures that the
ideas is fill in the business plans and then evaluating the demand and cost and profit margin.
Product development and testing- After the strategic analysis, there is a requirement to
pass stages of marketing and technical development. In this, the developed idea should be
converted in to actionable form and then make model of new products and services. After
making model or framework, testing of good will be started (Melville, 2010). The testing should
be conducted inside the laboratory safely.
Test marketing- In this, this business organisation conduct marketing programme of
product in market place. Basically, it is a testing of customers perception. In this step, changing
the services and goods on the basis of customers preferences. For test marketing, company can
use pilot testing to customers. At the time of introduces new products in market, this business
enterprise uses marketing mix techniques. In this techniques includes product, price, place,
promotion.
Commercialisation- When the testing has been done, it is necessary to take final decision
related to launching new products at market place. In this, there is a requirement to set the final
cost of product. In this, organisation use promotional strategies at large scale.
Market performance review- After launching of new product, it is necessary to take
review from market related to goods (Patti, Yanes and Siuzdak, 2012). Company should be
determine the performance of market place as well as goods and make changes in its policies and
strategies.
In case of Apple and Virgin group, these two successful organisation use this process at
the time of introducing new products. It uses promotional techniques at large scale.
P6 Innovation Business Case for business organisation
EE limited operates its business on small scale level for providing benefits at the time of
developing new goods or services. But, most of the times, it faces some problems at the time of
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using the resources in production process. In the case of innovation business , there are some
stages are incorporates:
Executive summary- It is a private and small business company. It is a largest network
provider in United Kingdom. This company offers wife range of 4G services to its customers. It
provides mobile phones with Wi-Fi calling feature and the Wi-Fi connection. The access internet
services at highest speed.
Need- The main objective of this company is to give better services and high speed of
internet data to its customers from using advanced technology (Teece, 2010). It wants to gives
good quality communication services to customers so that they can connect qwiwth each other at
all over the globe.
Solution- The solution of this case is that it can provides 4G services in calling and
Internet. Through this services, the quality of Internet speed will be increased.
Research of customers- In this step, there is a requirement of searching the new
customers and ten target them at different market place. This company can so the research on the
needs and preferences of customers.
Development and design planning- After conducting market research, it is necessary to
design the planning on the basis of its buyers demand. It is also required to plan about products,
and what technology should be used?
Investment requirement- It is required for doing every work. Funds are necessary for
business process. Company can take financial helps from banks, bondholders and speculators of
company (Brown and Wyatt, 2010). The speculators and bondholders gives loan to company
according to their past experiences.
TASK 4
P7 Tools that organisation can use to develop, retrain, intellectual property
Company uses many techniques to keep safe,, secure and retain its intellectual property.
In this property involves products, services processes, ideas, industrial designs etc. to protect
these, organisation uses:
Patents- Patent is right and authority which is given by government. In this government
gives the right to company or any person to sell, manufacture of its products.
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Trademark- In this, company registers its name, symbol, phase, tagline which are related
to company's services and goods (Crossan and Apaydin, 2010). Trademark protection available
for 10 years and after then it has to be renewed.
Copyrights- It is a legal means securing the work of company. It is a basic type of
intellectual property that gives rights related to distribution, manufacturing etc. Copyright is
under the law and provides legal rights of using its services and products and no person or
company can use services of EE private limited company.
CONCLUSION
It is concludes from the above report that EE ltd. Organisation provides better quality
quality internet and communication services. In this present report studied about the innovation
its significances. Organisation uses 4p's of innovation such as products, process, position and
paradigm innovation. This organisation use different tools to retain and to safe its intellectual
property.
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REFERENCES
Books& Journals
Adner, R. and Kapoor, R., 2010. Value creation in innovation ecosystems: How the structure of
technological interdependence affects firm performance in new technology
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Brown, T. and Wyatt, J., 2010. Design thinking for social innovation IDEO.Development
Outreach.12(1). pp.29-31.
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.
Davila, T., Epstein, M. and Shelton, R., 2012.Making innovation work: How to manage it,
measure it, and profit from it. FT press.
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.Handbook of the
Economics of Innovation.1. pp.609-639.
Hjalager, A. M., 2010. A review of innovation research in tourism.Tourism management.31(1).
pp.1-12.
Huberman, A.M. and Miles, M.B., 2013.Innovation up close: How school improvement works.
Springer Science & Business Media.
Huizingh, E. K., 2011. Open innovation: State of the art and future
perspectives.Technovation.31(1). pp.2-9.
Leiponen, A. and Helfat, C.E., 2010. Innovation objectives, knowledge sources, and the benefits
of breadth.Strategic Management Journal.31(2). pp.224-236.
Lundvall, B. Å. ed., 2010.National systems of innovation: Toward a theory of innovation and
interactive learning(Vol. 2). Anthem Press.
Melville, N.P., 2010. Information systems innovation for environmental sustainability.MIS
quarterly.34(1). pp.1-21.
Patti, G.J., Yanes, O. and Siuzdak, G., 2012. Innovation: Metabolomics: the apogee of the omics
trilogy.Nature reviews Molecular cell biology.13(4). pp.263-269.
Teece, D. J., 2010. Business models, business strategy and innovation.Long range
planning.43(2). pp.172-194.
Online
Innovation management (4) - '4 P's of Innovation' – Emagazin, 2003. [ONLINE]. Available
through: <https://www.veza.biz/eng/4Pinnovation.html>. [Accessed on 1st July, 2017].
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