Report on Innovations and Inventions of Apple and Virgin Mobile : Case Study
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Added on 2020-06-06
Report on Innovations and Inventions of Apple and Virgin Mobile : Case Study
Added on 2020-06-06
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Innovation
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Innovation and its importance to employees.........................................................................1P2 Use of organisational vision, leadership, culture and team work can shape innovation andcommercialisation.......................................................................................................................2TASK 2............................................................................................................................................3P3 4P's of innovation and the use of innovation funnel in shaping the organisation..................3P4 Use of frugal innovation........................................................................................................5TASK 3............................................................................................................................................6P5 Importance of commercial funnel .........................................................................................6P6 Building an innovation case in relation to access funding.....................................................7TASK 4............................................................................................................................................9P7 Use of various tools in relation to retain and protect knowledge and intellectual property .9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONThe term innovation means introducing some new ideas, products or altered methods atmarket. This approach is helpful for any business entity because with the help of this methodcompany can launch their new products in the market. This is completely different frominvention which means to invent something new (Aryal and et. al., 2016). Innovation can takeplace at existing product or goods but invention is taking place for the new purpose and product.This assignment is all about O2 which is a largest telecom company at UK who provide all typeof internet services to their users. This report is all about innovations and inventions of acompany by using the case study of apple and virgin mobile. Also, there are various forms ofinnovations taking place in a business organisation which company have to follow in an effectivemanner. Moreover, company have to follow adequate steps in the field of commercialising theirbusiness by using concept of innovation. Further innovation means new idea generation inexisting things by adding some more features into that so it has several number of advantagesand features which a company have to evaluate properly. TASK 1P1 Innovation and its importance to employeesInnovation means changing and adding some new and more features in existing products.This term is completely differing from the invention because invention is for the new product orcreating something new. As per the O2 company reference their innovation can take place byproviding more quality services to their users. In this context, company introduce something newat market which is in the form of 4G services (Breznitz and Etzkowitz, 2016). This is veryimportant for the reference organisation employees because it leads to improvement in theirskills and working pattern. Impact of innovation on employees of O2 are as follow: 1.Increase their thinking pattern by identify more and more solutions of crucial problems.2.Thinking criteria get expanded by identifying better ways for dealing with challenges.3.By more and more creative thinking management can reduce the chances of conflicts inan organisation. 4.Lead to change in their skills by accepting the change of business environment. Hence as per all these things it gets identified that innovation enable an organisation to grow andexpand their business (Chun and et. al., 2015). Employees of O2 become able to deal with any1
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