Innovation and Communication in Language Connect
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Explanation of the context for innovation and determine the difference between invention and innovation in Language Connect: 4 1.1 Explanation of innovation and determination of its importance to Language Connect in comparison with invention: 4 1.2 Explanation of how organizational vision, leadership, culture and teamwork can shape innovation and commercialization in Language Connect, UK:5 2. Discussing the process required to commercialize innovation in Language Connect, UK: 9 3.1 Explaining the importance of the commercial funnel and the application of New Product Development
Innovation and Communication in Language Connect
Added on 2020-01-07
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INNOVATION AND COMMERCIALISATION(LANGUAGE CONNECT COMPANY),WITH REFERENCE TO APPLE INC. ANDTHE VIRGIN GROUP1
Table of ContentsIntroduction:....................................................................................................................................31. Explanation of the context for innovation and determine the difference between invention and innovation in Language Connect:....................................................................................................41.1 Explanation of innovation and determination of its importance to Language Connect in comparison with invention:.........................................................................................................41.2 Explanation of how organizational vision, leadership, culture and teamwork can shape innovation and commercialization in Language Connect, UK:...................................................52. Explaining the different types of innovation:..............................................................................62.1 Explaining the 4Ps of innovation and explain the use of the innovation funnel to examine and shape innovative ideas in Language Connect, UK:..............................................................62.2 Explaining developments in frugal innovation and provide examples of how it is used in anorganizational context of Language Connect, UK:.....................................................................8Meaning of Frugal Innovation:................................................................................................8Development of frugal innovation in SME:............................................................................8Case Study related to frugal innovation:.................................................................................8How Language connect can achieve frugal innovation – few tips:.........................................93. Discussing the process required to commercialize innovation in Language Connect, UK:........93.1 Explaining the importance of the commercial funnel and the application of New Product Development (NPD) processing for commercialization of innovation in Language Connect, UK:..............................................................................................................................................9Meaning of Commercial Funnel:.............................................................................................9Importance of Commercial Funnel:.........................................................................................9New Product Development (NPD):.......................................................................................10Importance of commercial funnel and NPD:.........................................................................102
Suggestion for innovation:.....................................................................................................10Motivation technique used for commercial funnel:...............................................................10How the commercial innovation is achieved – some excerpts:.............................................113.2 Building an Innovation Business Case for Language Connect, UK including ways to access funding:...........................................................................................................................12Innovation Business Case – Its meaning:..............................................................................12Importance of Innovative Business Case:..............................................................................12Understanding the customer perceptions in SME:................................................................12Benefits of customer segregation:.........................................................................................12Technical Innovation – How to achieve it:............................................................................13Ways to achieve the funding related to innovation:..............................................................134. Evaluating the range of methods for protecting ideas and understand their advantages and disadvantages in Language Connect, UK:.....................................................................................144.1Evaluating the different tools that organizations can use to develop, retain and protect knowledge and intellectual property in Language Connect, UK:..............................................14Meaning of Intellectual Property:..........................................................................................14Importance of the intellectual properties in Language Connect:...........................................14Development of Intellectual Properties in Language Connect:.............................................14Retaining the intellectual property of Language Connect:....................................................15Conclusion:....................................................................................................................................16References......................................................................................................................................173
Introduction:Language Connect is a language translation company that facilitates connecting the local people.The headquarters of the company is located in London. There are many services provided by thiscompany that includes translation, localization, interpreting, and voice over, transcription SEObased on various languages (Chesbrough, 2010). Though it is a small scale company, yet itestablishes innovation in various aspects to reach a mark in this age of globalization. Itscompetitors are many, and the business is global. Here, in this project, the improvement of thisorganization is discussed along with some references of innovation based policy from the Appleand Virgin Group. 1. Explanation of the context for innovation and determine the difference between invention and innovation in Language Connect:1.1 Explanation of innovation and determination of its importance to Language Connect in comparison with invention:The term invention is completely different at it has no direct connection with the wordinnovation. This is very true for most of the organizations. Invention actually means the creationof a newbie product that is unique in the market. The product would have no connection with anyof the products of the competitors. The success of a new product is directly proportional to itsamount of likeness by the customers (Storey & Greene, 2010). The likeness of a particularproduct is mainly increased by advertisements of the products either by offline and online means.The innovation concept differs a little here. It implies the innovation applied to an existingproduct to make it appear more attractive. The innovation in maximum number of services within the Language Connect follows thecategory of VRIN to achieve its innovation. According to this concept, an innovation of aproduct is achievable if the newbie product becomes valuable, rare, inimitable and non-sustainable compared to any other available competitors in the market (Rafols, et al., 2012).Another method of marketing can be applied to create an innovation in a product, and that is,4
following the 4Ps of innovation. It includes the product, process, paradigm and positionpertaining to the product. A proper example regarding the difference between Apple and Virgin Group can be cited. Thismakes us understand the difference between an invention, and the innovation. Apple designed acompletely new operating system that is truly unique. Unlike its only competitor Microsoft, theApple based operating system was quite easy to operate, and is the most suitable kind of systemto use for a layman. This is truly an invention, and according to Steve Jobs, Apple always createsa product that is unique, and has no match in the entire industry (Gassmann, et al., 2010). TheVirgin Group, on the other hand encourages any sort of entrepreneurial idea within the company.It does pick up young people with new ideas from the community, and the business growsfacilitating the teamwork. So, the process and method of the Virgin Group can be compared withinnovation and not invention. Language Connect offers various services related to the academics, learning and even translationof languages. Language learning is the best method to facilitate the growth of any community.Many people use the google translate app nowadays for a short free services. However, thegoogle translate app has not reached its blue print stage (Gawer, 2011). The real service can onlybe procured from a company like Language Connect. The inclination to learn a new language hasincreased drastically among the new generation owing to the outsourcing jobs. Thus, severalinnovation strategy can help Language Connect outsmart many other small scale company. Too much invention related changes are not that required for this company. However, thecompany can also focus on developing a complete translation app that is better than Googletranslate. If the company can invent this, then it would get a huge popularity in the virtualmarket. Innovation is determines effective results for ascertain positive results and performances.In this way, Virgin group can share their employees ideas and opinion towards the business formaking effective results and performances. 5
1.2 Explanation of how organizational vision, leadership, culture and teamwork can shape innovation and commercialization in Language Connect, UK:Language Connect offers realistic services related to language translations on an all-round basis.The major purpose and the vision of the company is to provide completely unique translationwithout much mistakes. Moreover, the translation and any sort of language training services isfacilitated within a very small amount of time (McAdam, et al., 2010). It’s another purpose is tospread the uniqueness of the company across global horizons. It even dreams of getting a lotbetter in the competitive edge among all its competitors. The horizons of the business iscompletely at a macro level as it thinks about the language based translation, and its importancein the global horizon. The leadership techniques of the organization is quite systematic. The line managers ofLanguage Connect helps the company employees to understand the mission, vision andobjectives of the company. The employees are trained by the managers in such a way thateverybody moves towards the organizational goal. The work culture is very good where theindividual mistakes of employees are rectified, and the weaknesses of employees are encouragedto be improved over a stipulated timeframe (Love, et al., 2011). Every employee can visualizetheir own improvement by the help of this method. The motivation of employees within thecorporate body is provided by both intrinsic and extrinsic motivation pertaining to the system. The work culture in the Language Connect is mainly based on the concept of teamwork. Themarketing and the HRM teams are divided inside the organization into specific departments.Every team has certain amount of objectives, which they are required to fulfil. The teammanagers within the different teams increase the competition within the workplace (Osborne &Brown, 2011). The increase of teamwork is sometimes done by increasing the communicationamong group members, and also through group discussion. Every employee is given a voicewithin the organization that inculcates the company with some provisions of new ideas. This alsogrows some kind of team spirit within the company. The innovation of Virgin Group can be compared in this regard where they encourage everyinnovative idea inside the organization. Every new idea is valued, and such new ideas are oftengenerated within the Virgin Group went as far as campaigning new entrepreneurial ideas from6
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