(PDF) Organisational Vision, Leadership, Culture

Added on - 17 Mar 2021

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Table of ContentsIntroduction..................................................................................................................................2Part 1...........................................................................................................................................3Explain innovation and determine its importance to organisations in comparison withinvention...................................................................................................................................3Explain how organisational vision, leadership, culture and teamwork can shape innovationand commercialisation..............................................................................................................5Explain the 4Ps of innovation and explain the use of the innovation funnel to examine andshape innovative ideas.............................................................................................................6Explain developments in frugal innovation and provide examples of how it is used in anorganisational context..............................................................................................................8Part 2.........................................................................................................................................10Explain the importance of the commercial funnel and the application of New ProductDevelopment (NPD) processing for commercialisation of innovation.....................................10Build an Innovation Business Case for an organisation, including ways to access funding....12Evaluate the different tools that organisations can use to develop, retain and protectknowledge and intellectual property.......................................................................................13Conclusion.................................................................................................................................16References................................................................................................................................17
IntroductionOrganisations in the present era began to be more focused on the advancement and innovationaccording to the market changes or technology changes as the top interest, therefore focusingon the study is to demonstrate the effect of invention and its importance to the workforce or themanagement who works for the development of ideas for F-drones. F-drones is also consideredas a substantial organisation and have further guided in improving both innovation andcommercialisation. There's still information collected in the context of 4Ps innovation,commercial funnel, innovation funnel, frugal innovation, and together with the requisiteresources for obtaining and sustaining an intellectual property.
Part 1Explain innovation and determine its importance to organisations in comparison with invention.InnovationInnovation is a concept that has become a tangible asset for today's organisation's as there arerapid changes or growth in infrastructure or technologies which makes the competition to thenext level. It can be service, system, or marketing strategy changes for an organisation, or a mixthat triggered on the industry and creates new advantages and development for theorganisation (Williams, 2006). Innovation is as much as an increase from what is common andusing resources that exist within the organization, even if they are diverse, or are increased bynew initiatives.F-drones aim to transport packages or items for long-haul drone ships, which arehighly capable of handling heavier weight, as a revolutionary concept(Sinha, 2008). Thisrevolutionary concept puts F-drones in the competitive environment where most droneproduction firms focus.Differences between innovation and inventionInnovationInventionMeaningInnovation means thecreation to a current goodsand services with innovativeideas. In other words, theinnovation uses a plan tobuild it successful with itsconsumers in a specialmanner(Sinha, 2008). F-drones current product line issomething innovative asshipping the products withdrones is an innovative idea(Williams, 2006).Invention concerns thecreation of everything totallydifferent and unique. Theinvention of such drones byF-drones which can carry orlife heavy items can beconsidered as invention(Baudry, 2017).Skills requiredA variety of strategy,Anyone who possesses
technological, and marketresearch skills are veryimportant for innovation. F-drones needs to survey themarketplace if there are anynew inventions made in thefield of technology that canbe used to build a newtechno drone for the industry(Baudry, 2017).technologicalexpertisecreates an invention. F-drones can hire expertise inthe technical field who canhelp F-drones in building newproducts with high technicaladvancement(Sinha, 2008).InvolvesInnovation is a combinationof product categories,services provided by differentorganisations. F-drones mayhave different product lineswhich are required for theproduction of a drone, forexample some drones havedifferent type of camera(ROE, 2020). So theproduction line of F-dronesinvolve different category ofline to bring innovativeoutputs.A particular item, facility, orsystem includes an invention.F-drone’stechnicalmanagement or technicianscan help in the upgradation ofthe existing product that isalready owned by theorganisation(Arreola Risaand Keys, 2013).Carried out byA businessman whoestablishes anything about abusiness unit carries outinnovation(O'Sullivan andDooley, 2009). F-dronesowner needs to keep aknowledge on what needs tobe the aim or objective of thebusiness, which will lead toAn invention is conductedaround by a researcher whohas such a unique initiative.In every organisation there isR&D department whichincludes all the hightechnicians or developers,who are responsible fordevelopment of products. F-
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