The Importance of Innovation in Cyberspace

This assignment delves into the significance of innovation within the realm of cyberspace operations. It analyzes how innovation shapes military strategies, drives technological progress, and influences policy formulation in this dynamic domain. The document draws upon scholarly sources to provide a comprehensive understanding of the multifaceted nature of innovation and its implications for cyberspace security.

Assignment Brief – BTEC (RQF)
Higher National Diploma in Business
Student Name ID
Unit Number and Title 08:Innovation and Commercialisation
Academic Year 2019-20 Cohort Sept 18 Block 2
Unit Leader Assessor
Assignment Title Innovation in a small business context
Issue Date 25.03.2019
Submission Date
(Formative)
29.04.2019
IV Name
Deadline for assignment
submission
13.05.2019 (Summative Feedback)
Learners Declaration:
I certify that the work submitted for this unit is my own and the research sources are
fully acknowledged.
Date: 30.04.2019

Table of Contents
INTRODUCTION..........................................................................................................................2
LO 1.................................................................................................................................................2
Explaining the importance of innovation and explaining the comparison between innovation
and invention...............................................................................................................................2
Explaining that how organisation vision, leadership and culture and teamwork building a
shape of innovation.....................................................................................................................3
Analysing the different sources of innovation that helps to foster and develop an environment
culture..........................................................................................................................................4
LO2..................................................................................................................................................5
4P's of innovation........................................................................................................................5
Innovation Funnel.......................................................................................................................5
Frugal innovation and examples of it .........................................................................................1
Role of frugal innovation............................................................................................................1
LO3..................................................................................................................................................2
Importance of commercial funnel and application of product development processing ...........2
Innovation Business Case...........................................................................................................4
Detailed Innovation Business Case.............................................................................................4
LO4..................................................................................................................................................5
Different tools use can use to develop, protect knowledge and
intellectual property...................................................................................................................5
Nature of innovation and overcoming occurring challenges......................................................5
CONCLUSION...............................................................................................................................6
REFERENCES ...............................................................................................................................7
1

INTRODUCTION
Innovation and commercialisation is the process which distinguish new practices in the
business for further development. Innovation is the process of translating an idea or invention
into a good or service that creates value for the customers. In other words, innovation is the
evolutionary innovations that are brought about many incremental advances in technology
development. Present study based on innovation and commercialization based on the case study
of Essence Drinks which itself created a health drink which is Mango Lassi. The study will
present the importance of innovation and invention to determine the comparison between
invention and innovation. Furthermore, study also described about how vision, mission,
leadership and teamwork enhance the innovation within the organisation. Overall study
explained the deep understanding of innovation and new product development.
LO 1
Explaining the importance of innovation and explaining the comparison between
innovation and invention.
Innovation is the processing to implement the new idea or concept within the
organisation. It involves multiple activities to disclose the new ways to do things. Innovation
create opportunity for the company to maintain its business sustainability growth in the
competitive market (Bag and Anand, 2016). Innovation is a kind of fuel that generate new
profitability for the company and enhance their market value in long range. The concept of
innovation is the new equipment in an organisation that makes the good and enlarging idea
process to measure the effective learning outcomes and goals in order to sustain the better
advance facilities.
Invention is a unique or novel devise or method which composition or process which is
based on the fresh process. In other words, company create new product or launch new service in
the market for the very first time is called invention (Bell and et.al. 2018). Essence Drink also
create an innovative product which is Mango health Drink to all kind of age customers this is an
invention that company create and start their business for very first time.
In other words, innovation and invention are sometimes used for interchangeably,
although the concepts are readily distinguished. All past inventions are very beneficial and
effective for the company.
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Difference between innovation and inventions
Basis Innovation Invention
Strength Innovation is stronger and
stable than invention in terms
of acceptance.
Invention strong element is
that it is based on new fresh
process instead of existing
product services.
Weaknesses Innovation involves
uncertainties to get success.
Invention required high cost
which sometimes not
affordable by the company.
Advantages Invention provide (Cardon,
McHenry and Cline, 2016).
Disadvantage Occurred high cost range. Need specialist and productive
employees.
Effectiveness It is the new disciplined
process by handling in unique
manner.
Effectiveness of invention is
they symbolised with new
name and features created by
the company.
Ineffectiveness Innovation requires high
market research which
required different sources.
Invention requires huge
investment new product
development growth.
3

Explaining that how organisation vision, leadership and culture and teamwork building a
shape of innovation.
Vision: Vision or mission is the starting point for strategic plan and objectives and
metrics. Vision develop ways of performing the task in order to accomplish company aims and
objectives. Vision settings the new positive and directions for the company success. This helps to
inspire people, to support employees to adapt to change and to seek out. Essence Drinks set their
vision to create more value to customer by launching new drinks with different flavours. This is
the vision for which company set further task and activities. It also helps the organisation to stay
focused on its goals in order to achieve set growth and development.
Leadership: To build a new creative and innovative idea into implementation, leaders
play a very important role to guide employees into the correct manner (Ciabuschi, Dellestrand
and Martín, 2015). Leadership styles helps team leaders to understand the new concept or task
that will going to perform within the organisation. To make more interesting goals. Innovative
and motivated leaders have always creates positive change that helps the organisation to improve
and be innovative in the business environment. That helps to build creative and motivated work
culture that brings new ideas and innovation growth. Leadership is one of the major challenges
and growth that affect the business growth and long lasting channel which makes the things more
effective and leading. Essence drinks has democratic and situational leadership styles to embed
innovation.
Culture: To acknowledge innovative idea, there must have that kind of environment
within the business. To create innovative culture, Essence Drinks should need to invest towards
the positive culture growth. Such as be intentional with the innovative intent, also company
needs to create a structure for unstructured time, and also need to develop enthusiasm among
employees so it makes positive and productive cultural environmental growth. Positive culture
helps to build positive and creative culture that indirectly influence better growth. Promoting
innovation and ideas should on every leader scoreboard (Grosser, Venkataramani and Labianca,
2017). Inject creativity with acquisition among employees helps employees to learn something
new and innovative. Culture innovation which makes the best and developing new results for the
new betterment growth.
Teamwork: This is the fact that an organisation cannot achieve and accomplish the target
without having the effective learning goals. In other words, it brings long term goals and helps to
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define the working goals. Without having the support of team members company could not
perform their work productively. Teamwork helps each other and support in the critical situation.
Also, they bring new ideas and discussion on that topic in detailed manner. This process helps to
build the innovation within organisation.
Innovative teams working for ED
 Functional innovative team working in Essence Drinks that are very well performed for
the company functional task. In other words, cross functional team where people from
different function work together for a common goal.
 Self directed team members working for ED who manage their work by own and also
introduced new creative ideas for the organisation and goals. In other words, self directed
team comes under together on their own. These kinds of team members also required less
inputs that helps ED to focus on the other development area.
Analysing the different sources of innovation that helps to foster and develop an
environment culture.
Employee creativity and innovation are essential for the success of business. To foster
innovation in company, it requires some sources and techniques to build the innovative culture
such sources are employees should always been on purpose (Miozzo and et.al., 2016). In other
words, people should know their work and responsibility for better focus on the innovation.
Other sources is to develop the innovative culture. Build effective teams is the greatest tool or
technique that helps to create a innovation culture within the company culture.
LO2
4P's of innovation
This 4 p of innovation include the product, price, place and promotion. This used to help
the marketing and innovation of Essence drinks in the UK market by the company (Fan, Lau and
Zhao, 2015). Akshay who is the founder of the Essence drinks can use this 4p of innovation
strategy to launch its new product in the market. These 4 p of innovation are:
 Product – As a essence is the Mango lassi which is developed to give satisfaction to the
customers in the summer. Akshay can launch the other flavour of essence drinks in the
UK market that attract the customer demand in the UK market. As this mango essence
drink have unique mango flavour, that attract the customers and give them satisfaction
and energy as well, that the other competitors are not provided to the market. It is original
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and organic not added any chemical and extra ingredient that make it unique from other
essence drinks in the market.
 Price - Price is the amount which customer willingly pay and it is very important
component of the 4 p that determine the demand of the product in the market. Customers
also prefer to purchase those products which give the good quality in minimum amount.
This essence drink price is low it not very high as compared to the other drinks in the
market provided by the competitors, which attract the customers.
 Place -Place is also important part of the innovation. Company should have the deep
understanding of the target market (Fan, Lau and Zhao, 2015). For increase the sale by
Innovation Company should also change the target market to sell the essence drink.
Where clients look for this kind of products more, where potential clients go. Promotion – for promoting the Essence drinks company can use different promotional
activity to increase the sale in market and to attract. Essence drinks has new attractive
packaging and label that attract the customers and to promote can use TV, radio,
newspapers and print media.
Innovation Funnel
The aim of funnel is to provide the graphical structure to think about the product
generation and screening any other development process and combine them to produce a new
product. This founder of the Essence can also use this funnel for investigation. This funnel
involves three different tasks. First widen the mouth of the product in this organisation expand
its knowledge and access information to increase the new product and process idea. Second is to
narrow the funnel neck in this generated ideas must be screened and only focused on most
attractive opportunity (Yun, 2017). And the third challenge is to ensure that the selected
product like essence drink deliver to the right market.
6

There are two dominant models of the development funnel
Model 1: This model is used in large firms. In this model research and development
group generate various ideas for the technology, process and product. These ideas will be applied
and then screened at various stages.
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Illustration 1: Innovation Funnel
(Source:Innovation Funnel)
Illustration 2: Model 1
(source: innovation funnel)

Model 2: This model is used by the small, entrepreneurial start-ups on single product
project (Innovation Funnel,2016). In these circles represent the new product, shaded indicate the
process of development and at last screen, scale and size of the product.
Application of innovation funnel at Essence Drinks:
Innovation funnel is beneficial for new product development in the market.
Therefore, Essence Drinks will apply the innovation funnel for introduce new product in
the marketplace.
Frugal innovation
Frugal innovation refers to as a process which helps in reducing the cost of goods,
reducing the complexity and its production. It refers to the removal of the non-essential and
irrelevant features from the product or the services provided by the company (Radjou and
Prabhu, 2015). It is also known as frugal engineering. It is a concept which encourages
businesses to respond and react to the limitations of the resources and to convert these limitations
and restrictions into a business opportunity to profits and popularity. It is a very new, latest and
popular form of innovation. The essence drink also uses frugal innovation by combining the use
of the latest technology with the cost of production which ultimately results in lowering the cost.
As a result of lowered cost the revenues and the profits will increase.
Different examples of the frugal innovation are as follows- Fold-scope - it is an origami microscope which is made from the use of sheet of paper
and lens. It is designed to cost not more than a dollar.
 Solar light bulbs - it is a system developed in some Philippine slums where solar
skylights which is made from one litre of soda bottle which is filled with bleach and
water provides light to the place. The light produces by this set up is equivalent to light
produced by a 55 watt bulb and it may reduce electricity bills.
Examples:
 GE US$800 ECG machine
 US$100 One Laptop Per Child
 1-cent-per-minute phone calls
 mobile banking
 off-grid electricity
8

Role of frugal innovation at Essence Drinks
The fragile innovation refers to a type of innovation process through which the needs and
problems of the people are developed as a business opportunity in order to cater and fulfil the
needs and requirements of the people at the same time the company will grow and earn revenue
and profits. The frugal innovation plays a very important and crucial role. The role of frugal
innovation at Essence Drinks is discussed below -
 It combines all the low costs with the latest technology to create a good product and to
survive in the tough cut throat competitive market.
 It helps the company in assessing their potential and to increase the capability of the
organisation to grow and prosper.
 Here the aim is to increase the customer base by innovating in the products and
increasing the production and accordingly increase the sales which will lead to cost
reduction.
 It leads to know the customer needs because frugal innovation leads to knowing the
customer needs and produce the products accordingly.
 This practices mainly focuses on the core functionalities which are required for doing
specific purpose and activity (Weyrauch and Herstatt, 2017).
 It includes designing the products to meet the needs of the customers by using low cost
technologies, leveraging them in different ways and minimising the wastages and use of
the resources.
 The use of frugal innovation dramatically results in the production of the goods and
services at a lower cost of production.
 It involves rethinking the production processes according to the latest developments in
the technology and the business and macro environment.
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LO3
commercial funnel
Commercial funnel is also called as sales and revenue funnel. It is the very essential for the
company improving the sales process which is beginning from the action. This funnel is
depicting the different thoughts regrading to the starting of sale where large dimension of
consumers are regarded and tend to get smaller during time of buy (Busch, Dauth, Fischer
and Souza, 2018). Commercial funnel means to the purchase procedure which firms led
consumers through when buying product. It is divided into many stages which differ
depending on the particular sales model.
 Sales or commercial funnel is important for any business whether they operate online or
offline.
 It is bringing possible consumers into fold on consistent basis which they can market and
promote products and services to over time.
 Without process in place, which is constantly being optimized and tested to increase
value from each consumers (Prabhu, 2017).
 It leads to more engagement of customers with the Essence drink in the type of info and
techniques.
 Company has been able to follow this funnel concept to enhance the efficiency of
employees further delivering better quality goods at the lower costs.
New Product Development :
Selected drinks introduce new good which is Guava Lassi in the UK. Thus, Essence drink
requires following all the application of the new product development processing which includes
different steps such as:
Idea Generation:
It is first stage of new product development procedure in which company generate the
thought which is introduced the new goods which is Guava Lassi. In which, company is utilized
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SWOT analysis of firm, current marketing trends etc. This can help to raise the sales and profits
of firm (Hyvärinen, Keskinen and Varis, 2016).
Idea Screening:
It is the next stage of new product development procedure in which company screening
the idea in which company requires identification of market and consumers, detail of consumers
behaviour and preferences, technical feasibility of thoughts, determine the competition and their
existing goods within the market. This can help to firm in relation to introduce the new goods
which is Guava Lassi.
Strategic Analysis:
It is next stage of new product development process in which company needs to strategic
analysis for introducing the new product which is Guava Lassi. In which. Organization ensuring
the thoughts fit into their business strategic plans and determining the demand and profits margin
(Kim, 2019). This can help to raise the sales and profits of firm.
Product development and testing concept:
It is next stage of new product development process in which company needs test the
concept and developing product which is Guava Lassi. Developing concept involving the quality
functionalities, price and execution. This can help to raise the sales and profits of firm.
Commercialization:
It is next stage of new product development process in which company needs changing
the goods and services as per consumers demand, support and feedback towards firm. This can
help to firm in relation to introduce the new goods which is Guava Lassi. This can help to raise
the sales and profits of firm (Kim, 2019).
New product range at Essence drinks:
Create an innovative new range of drinks, but does not want to move away from
lassis
Image
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flavors
ingredients
 Guava
 Milk
 Saffron
price
sales and marketing
 Social media platforms
 Effective Designing of Can
nutritional values
 Vitamin C
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 Vitamin B-6
 Protein
target audience
 Children and youngsters
 Every age group
Innovation Business Case
Below mentioned is the Innovations Business Case for the company. The organization
Essence drinks is going to launch its new refreshment drink in the market in order to deal with
the present competition. There are many ways by which innovation business case is useful for
introducing the new and creative product which is “Green Guava Lassi” by Essence Drinks in
the marketplace. For the build innovation business case, company needs to follow the different
stages such as:
Confirm the opportunity:
Essence Drinks needs to describe the situation which is introduced the new product
“Green Guava Lassi”. It will involve background to project, investment logic and high level
business needs.
Analyse and develop shortlisted options:
Company needs to determine the alternative concept and chose three or four options to
analyse. It is necessary to collect data about each secondary, analyse the options and develop
shortlisted choice.
Evaluate the option:
Firm needs to evaluate ways of secondary will deliver on the business objectives after
that chose the preferred option. It is taking into action the strategic and financial value made and
risks.
Implementation strategy:
Company make the application plan for the preferred option, detailing ways of
accomplishing gaols of business. Thus, essence drinks needs to implement the marketing strategy
for introduce new product “Green Guava Lassi” in the marketplace.
Recommendation:
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Firm needs confirm suggested option. Thus, company make business document and
present suggestion to the board and administration group for approvals to proceed.
Customer needs: As per the findings, it has been found out as the organization is having
large competition in the market. It has become important for the organization to deal with this
competition (De Bonis and Gandolfo, 2018). Companies such as Coca-Cola, Pepsi and Thumbs-
up are having good market reputation, and they tend to take the organization customers away. In
order to deal with this Essence drink has thought about launching a new product which is “Green
Guava Lassi”
Product Concept: The concept of the product is that the “Green Guava Lassi” is different
from other products available in the market. It will be produced from healthy and organic
strawberries.
Concept Uniqueness: The concept is unique because the sold products from the
organisation are not having any sort of competition. Not a lot of companies are “Green Guava
Lassi” in the market. The product will gain more consumer attention and will help the
organization to earn new profitability and achieve better success. Along with it, it will provide
the organization with new direction in developing itself that new customers are being achieved.
Feasibility: The product sold by the organization is feasible. The company will be able to
develop its new product because the raw materials required for the product are available in the
market easily. The process of development of the product will start from manufacturing of the
bottles, the product, it’s testing, and at last, packaging, this process is going to allow the smooth
development of the product and its smooth selling as well.
Benefits for the Essence drinks: The new product will benefit the organization in so
many ways. It is going to help the organization in reach new development aspects and ensure
that better growth and development is being achieved within the competitive environment. Along
with it, it is going to bring a better direction in which the organization can improve itself to
achieve set growth and development.
Decisions: The decisions which are made by the organization in order to successfully
launch its innovated products includes ensuring better promotion and making use of digital
marketing activities. It is going to help the organization in reaching new growth and ensuring
that its product is performing successfully in the market.
Access funding for new product range:
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In relation to, company adopt the different ways of accessing the funds like back loan,
venture capital, crowdfunding and other ways for launching the new product in the marketplace.
Bank Loan:
Company can take loan from the bank after that repay the amount with the interest to
bank. This can help to develop the new products and services in the marketplace. This aid to
raise the profit and sales of the firm. Essence Drink introduce the new product that is “Guava
Lassi” in the marketplace. Company also utilized the existing profits for introduce the new
product in the market.
Venture Capital:
It is the funding which investors give to start-up and small companies which are believed
to have longer growth possible. Venture capital normally comes from well-off investors,
investment, bank and any other financial companies. This aid to raise the profit and sales of the
firm. Essence Drink introduce the new product that is “Guava Lassi” in the marketplace.
LO4
Different tools use can use to develop, protect knowledge and Intellectual property
In order to develop, protect and retain its intellectual property the organisation can make
use of the below mentioned tools:
Patenting: Patenting is going to allow the organisation to protect inventions and improve
the existing innovations. In order to do this, it is important that the organisation takes the help of
the government and the government agencies (Kim, 2019). The patenting of the utility, plant or
design can improve the overall quality of the product and is going to allow the organisation to
protect its knowledge and intellectual property.
ADVANTAGE  Government gives patent owners with
dominance protection for up to statutory
life of the patent.
DISADVANTAGE  There are highly expensive and often
times costing tens of thousands of
dollars to prosecute.
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Trademarks: The words, names, devices, symbols and images can be used as trademarks
in order to protect the intellectual property. This will help the organisation to retain them for a
long period and also to ensure that they are safe and secure.
Investing in Non-disclosure agreements: It is important for the organisation to achieve
new level of growth and ensure better growth and management. In order to do this, the
organisation can invest in well-written non-disclosure agreements (NDA's). This is the finest
approach to protect the intellectual rights and ensure that desired growth is achieved by the
organisation. NDA's will also help the organisation to retain its information for a better time
period.
Advantage  There are no statutory limitations for
life of trademark.
disadvantage  The risk for genericise which happen
when public start to link brand with
common goods of same utility.
Nature of innovation and overcoming occurring challenges
The nature of innovation refers to the present area or the situation in which an
organisation decides to produce its products and services (Prabhu, 2017). It helps the
organisation to identify in what manner the products and services needs to be produced in order
to ensure better market growth and profitability.
As per the present nature of the community, its people and the social structure the
organisation faces challenges while ensuring better innovation and growth. These challenges
include new trends, changing needs and demands of the people and competition. In order to deal
with these challenges, it is important for the organisations to make use of a variety of strategies.
It is going to help the organisation in reaching new development and ensure new growth. The
strategies in order to overcome the occurring challenges in innovation includes, setting up a team
to understand at what places these challenges are occurring and in what manner the challenges
can be solved by the organisation. The set team can identify the challenges and can prepare
required strategies accordingly (Grosser, Venkataramani and Labianca, 2017.). The other
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strategy which is used here includes evaluating the importance of organisational needs and
requirements and innovating products accordingly. This often reduces the risks and allows the
organisation to work more freely.
CONCLUSION
The below report showcases the importance innovation and determines its importance for
the organisation while comparing it with the invention. As per the done evaluations, it has been
concluded that innovation is one of the biggest requirements of today's organisations in order to
successfully operate and ensure required growth and development. The other aspects which are
covered in the report in what manner the vision, leadership, culture and teamwork can shape
commercialisation and innovation. These aspects allow comprehending the nature of innovating
and explains the importance of innovation in today's working environment.
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REFERENCES
Books and Journals
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innovation. The Quarterly Journal of Economics. 134(2). pp.647-713.
Busch, H.C., Dauth, T., Fischer, L. and Souza, M., 2018. Frugal innovation approaches to
sustainable domestic energy: two cases of solar water heating from Brazil. International
Journal of Technological Learning, Innovation and Development. 10(3-4). pp.231-257.
Cardon, L. G. E. C., McHenry, C. D. P. and Cline, L. C. C., 2016. The Relevance of Culture:
Recognizing the Importance of Innovation in Cyberspace Operations. Military
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intelligence through the lens of marketing mix. Big Data Research. 2(1). pp.28-32.
Grosser, T. J., Venkataramani, V. and Labianca, G. J., 2017. An alter-centric perspective on
employee innovation: The importance of alters’ creative self-efficacy and network
structure. Journal of Applied Psychology, 102(9), p.1360.
Hyvärinen, A., Keskinen, M. and Varis, O., 2016. Potential and pitfalls of frugal innovation in
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p.888.
Kim, T. T., 2019. Venture capital, startups and commercial real estate: Innovation potential in a
bespoke industry. Corporate Real Estate Journal. 8(3). pp.204-209.
Miozzo, M. and et.al., 2016. Innovation collaboration and appropriability by knowledge-
intensive business services firms. Research Policy, 45(7), pp.1337-1351.
Prabhu, J., 2017. Frugal innovation: doing more with less for more. Philosophical Transactions
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