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Aspects of Innovation in 4Com - Assignment

   

Added on  2020-06-04

13 Pages4358 Words26 Views
INNOVATION

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Significance of innovation in equivalence with invention ....................................................1P2 Teamwork, vision, culture and leadership contour commercialisation and innovation. ......3TASK 2............................................................................................................................................4P3 Innovation's 4P in the use of innovation funnel to analyse shape innovation ideas. ...........4P4 Development frugal innovation with example .....................................................................5TASK 3............................................................................................................................................6P5 Significance of commercial funnel and NDP for commercialisation of innovation .............6P6 Build Innovation business case for an business, including access ways of funding .............7TASK 4............................................................................................................................................7P7 Tools through which develop, protect knowledge, retain and intellectual property. ............7CONCLUSION................................................................................................................................8REFRENCES ..................................................................................................................................9Books and Journals ....................................................................................................................9

INTRODUCTION Innovation can be defines as the process in which the the people engage with unique ,new and creative products for the customers. In this the company also implement the newproducts in the business environment with the creative thinking and idea to fulfil the needs anddemands of the consumers (Stokes, 2011). In this activity the company engage with theirqualified commodity or goods in the new colour, shape, sizes and also change their existingmodel in very effective way so that will be liked by the clients. Innovation basically refers to thethings which is develop and modified by the new designs and by very innovative ideas. Thisinnovation simply provides the help and high growth as well as progress to the organisation(Sawyer, 2011). 4Com is a small organisation which run the telecommunications and engage inthe activities such as mobile business phones, router, broadband, internet and many more. Thisassignment will present all the aspects of innovation and how to use in the company so it willhelp in the development. It also consider the all aspects of the innovation positive as well asnegative and how to generate, use, evaluate so it will intrigue to the consumer. That will bebeneficial by increasing the sales and goodwill in the market. TASK 1P1 Significance of innovation in equivalence with invention .This innovation process prove great development and growth top the organisation. It alsoassist in the increase the number of consumers by the innovative products in the business marketplace There is almost every company which demands for for the fresh and innovative ideasthrough this they increase the profitability and productivity. It simply also consider and enhancethe quality of the commodity which gradually make available the effectiveness and efficiency inthe very positive manner (Rosenbusch, Brinckmann and Bausch, 2011). It also modify and createthe goods and services in that way so it willautomatically increase the sales and satisfy the clients needs and demands. When the companythinks of the innovation they also consider the new technology, idea, design, shape, size, colourin the kind and execute as well implement in the development of the product. Importance of theinnovation are as follows :-

It enhance the productivity by apply the new and original concept on their particularcommodities and the services then it will lead to the increase more progress, growth andsuccess. It helps in create the strong market footing in the business which will create the greatcompetitive environment in the market (Lundvall, 2010). This innovation is the basic keythrough which they maintain, create, innovate some new products and services.Some of the employees usually has confusion about the innovation and invention but inactuality they both are far different from each other and they complete each other to make theproduct a fresh and good quality and attract the profit through this. The comparison between theinnovation and invention are as follows :- BasisInvention Innovation Meaning In this process of invention, Itdefines the concept and idea inwhich it occurs in respect ofthe process as well as thecommodity. That demands forthe totally fresh which neverbeen in the successful earlier. Innovation generally defines asthe fresh creative idea which isregarding to the technologicalprocess or commodity for thevery initial time. Function It produce the freshcommodity in the market. This add some of the limitedvalue on the something whichis already present in thebusiness environment. Concept Scientific skills requiredIn this strategic, mechanicaland marketing skills is needed.Activities In this they demands andengage in the activities ofresearch and development. It can extended majorly acrossthe organisations. Occurs whenThe fresh concept is settled bythe scientist. Company feels and demandsfor the improvement,modifications, in the alreadypresent commodities.

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