Innovation and Commercialisation in F-Drones

Unit 8 – Innovation and
Commercialisation

TABLE OF CONTENT
INTRODUCTION......................................................................................................................3
PART ONE................................................................................................................................3
Critically analysing how innovation is developed and measured in the F-Drones................3
F-Drone's culture, vision, leadership and teamwork assist in shaping innovation and
commercialization..................................................................................................................4
Varied sources of innovation and development of innovative culture within company........5
4 Ps of innovation and use of innovation funnel to shape innovative ideas...........................5
Implementation of frugal innovation and examples..............................................................6
PART TWO................................................................................................................................7
Importance of commercial funnel and application of NPD for commercialisation of
innovation...............................................................................................................................7
Innovation business case .......................................................................................................9
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................12

INTRODUCTION
Innovation and commercialization go hand in hand but are two different things
which contributes towards the expansion and success of the organization. Innovation
accounts for the developing effective ideas or products while commercialization refers to
bring that idea or product to the market. This report is based on the organization named F-
drones which has developed world’s first drone for the transition purpose. Along with this, it
will explain the importance of innovation to the firm in comparison to the innovation in
addition to the difference sources of innovation and ways in which the company creates
ambience of innovation. Also, the report describes the relevance of the innovation funnel and
the frugal innovative term. It also states about the significance of the commercial funnel and
the usage of NPD processing for the purpose of commercialization of innovation.
PART ONE
Critically analysing how innovation is developed and measured in the F-Drones
Innovation
It is basically the procedure or the process for coming up with the new ideas which
will result into having greater effect over the growth of the business (Cusumano, Gawer and
Yoffie, 2019). For a business, it accounts for the creative perspective like creative thing
process and differentiating mind.
Invention
Invention is the process through which realization of the thought happens. In basic
words, it is the way toward setting a thought in action.
Importance of innovation in comparison with the invention in case of F-Drones
The world is moving fast in an unpredictable manner. F-Drones have come up with a
new innovative idea which will help it in taking competitive advantage in the target market
while the invention is the process of realizing the benefits (Busco and Quattrone, 2018). In
the present market, individuals are mainly concentrated around imaginative and distinguished
items which is subsequently resulted into to the achievement and success of this innovation
driven organization. In the organization F-Drones, it is operating towards creating the world’s
first drone having the objective of effectively making the aerial deliveries to the ships and the
other moving platforms. The major benefit of this that having the greater capacity to deliver
approximately 100kg at a distance of nearly one hundred km which is completely automatic
and electric.

The real result of the innovative drone is that it will help in saving a lot of time and
efforts along with the cost. Alongside that, it also assists in saving labour and the decrease of
fossil fuel by-product concerning the transportation in marine and the offshore transportation.
Then again, invention is the last stage in regard to creation of the item. F-Drones being a
creative organization has been able to attain growth and success which thus is one of a kind
and worth adding for its clients (Damanpour, 2017). In this manner, it very well may be said
that the innovation is having a more noteworthy significance in the association F-Drones,
when contrasted with the invention. Along these lines, innovation and invention are required
or essential for accomplishing the goals and getting the 1st mover benefit in the marketplace.
F-Drone's culture, vision, leadership and teamwork assist in shaping innovation and
commercialization
Commercialization basically accounts for the cycle of joining all the activities to
present another item on the lookout. The different factors that help in shaping innovation and
commercialization are given below.
Culture and Vision
The culture being followed by F-Drones is built on the forthcoming goals and the
targets which the organization desires to achieve. Along with that, the vision of the company
is of becoming the leader in respect to the aerial delivery of logistics along with the best and
high quality of goods and services and this can be attained through the innovative ideas
(Gobble, 2018). Thus, vision, has a huge influence on the innovation process. Culture is
tending to change or shape the nations and its points of view. However, the social contrasts
can't be dodged and the influence of innovation differs from one nation to another like for
one it is positive and for other negative.
Leadership
There are different types of administration style yet in this organization democratic
leadership style is utilized. It is on the basis that the leaders of this organization would not
like to adjust on making the most of the possibility or chances which it can without much of a
stretch snatch the target market. It has led to making this organization creative.
Teamwork
The organization has a group who are expertise in various fields and are valuable in
improving and making commercial the new item. In the event that the whole group works as
per the set objectives and targets of the association by the way of giving creative thoughts in
respect to new item to the customers then F-Drones would be successfully ready to achieve