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Report on Innovation and Its Importance to Employees of A1 Comms Ltd

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Added on  2020-06-05

Report on Innovation and Its Importance to Employees of A1 Comms Ltd

   Added on 2020-06-05

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INNOVATION
Report on Innovation and Its Importance to Employees of A1 Comms Ltd_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Define innovation and its importance to employees of A1 Comms Ltd................................1P2 Vision, leadership, culture and teamwork can shaping innovation.......................................3TASK 2............................................................................................................................................4P3 Innovation 4Ps and the use of innovation funnel for shaping ideas in employees................4P4 Explaining the process of developing frugal innovation in A1 Comms................................5TASK 3............................................................................................................................................6P5 Importance of commercial funnel and the application of New Product Development..........6P6 Innovation building case for A1 comms Ltd including way of access fund..........................7TASK 4............................................................................................................................................8P7 Different tools for developing, retaining and protecting intellectual property......................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONInnovation is a term which is considered to be very essential in current businessorganization scenario. It refers to implement new idea, plan and strategy which has never beencreated by anyone. It is an activity in which an organisation alter some products or serviceswhich attracts more customers. Innovation means an idea, thought and methods which is usedduring this process. This provides business a competitive advantage over rivals and assist inearning more customers as well as market share. Innovation is basically used to modify all oldproducts with new design, size and colour (Ariga and et. al., 2013). A1 Comms Ltd is ainnovative company, which has been listed in most innovative firm of telecom sector in UK. Thefirm need to highlight some issues or problems in this field. And the case study of Apple Inc. andvirgin group is used to stated that how they deal with some type of issues. TASK 1P1 Define innovation and its importance to employees of A1 Comms LtdInnovation is an important part of every organisation which assist in enhancing companygrowth and development. It helps in increasing differentiation of firm and its goods from itscompetitor. It also aid organisation in increasing the effectiveness and efficiency of procedureswhile enhancing quality of goods or services and fulfilling customers demands. Innovationincludes some activities such as modification, alteration, imagination of new design of productsor services and thought innovative ideas. Some workers get confused inside organisation between two terms invention and creation(Berrone and et. al., 2013). These are totally different from each other and also used in variousconditions and situations. The difference between innovation and invention are as under:BasisInnovationInventionDefinition It is an act in which an individualexecutes idea which has never beenused before. If a person modifiesproducts or services in differentmanner it will also be considered asinnovation. It is an activity in which a persondevelops new idea and somethingcreative that has not been usedbefore. Skill needed An individual should have excellentA person is required to have good1
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