Innovation and Commercialisation

This document discusses the importance of innovation and commercialisation in the F-drones organization. It explores the 4ps of innovation and the use of innovation funnel. It also discusses the development of frugal innovation with examples. Additionally, it highlights the importance of commercial funnel and the application of new product development.

INNOVATION AND
COMMERCIALISATION

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
LO1..................................................................................................................................................3
P1 Innovation and its importance with invention........................................................................3
P2 leadership, culture, vision and teamwork in shaping the innovation and commercialization
for the organization......................................................................................................................5
P3- 4ps of Innovation nd the use of innovation funnel..............................................................6
P4- Development of frugal innovation with examples................................................................7
P5- Importance of commercial funnel and application of new product development.................8
P6- Build business innovation case for the organization including source of funding. ..............9
LO4................................................................................................................................................10
P7 Tools that organizations use to develop, retain and protect knowledge and intellectual
property......................................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
Online ........................................................................................................................................12

INTRODUCTION
Innovation refer to the process of working on new ideas and to make new ways of
working into actions. Commercialization refer to the ways in which the selling of the product is
done. Innovation and commercialization are very crucial and it is important for the lives,
innovation are very important as it eases the work easy and also help in doing in new and better
ways. F-drones works in the drones services and logistics with the aim of being the best drone
delivery brand in the market in next 5 years. They are working in delivery of product and
services into the offshore places and on the ship logistics. They claim to have less 80% of carbon
emission and other saves as they save time in delivery and one of the best ways of delivery
(About Us. 2020). The report will explain the working of the F-drone into the market and how
can innovation can be effective and what are the importance and needs of innovation. The report
further explain about the 4ps of innovation and the new product development process.
MAIN BODY.
LO1
P1 Innovation and its importance with invention.
Innovation : Innovation refer to something new which is being done by different thinking or in
new way of doing. It is referred as the introduction of doing something new and innovative.
Innovation is important as they are helping in doing things in new ways.
The importance of Innovation as compared to Invention : Inventions are one of the most
important ideas and way of working which focus on new things or new ways of working. They
help in finding innovation by giving the idea. As compared to this, innovation are the
implementation of invention into action. F-drones have found an innovation of in the drones by
increasing the build quality to make it a source for delivering the product and services at offshore
places. As compared to this F-drone have made a lot of inventions including the Dron deliveries
in the business. They worked on the idea of proving the product or services to the people by

Dron delivery ideas. The invention of the Nokia are to work on the cellphones creation, They
produced NOKIA 1100 as an invention for the developing country. They create an idea of
developing the device which can help them in making a call.
The importance of invention is that it helps in making better services and also in
increasing the working way. As compared to this the innovation refers to the process of
implementation of the ideas to make a product or service. For example, F-drone has made the
invention of delivering the product and services by drone in the offshore places. They made a
product to increase the standard of drone in the market. On the other hand, Nokia produced an
innovation of telephones and made a GSM phone which was launched on 1st July 1991. They
made this work and make the first call on that date. F-drones have focused in increasing the
drones stability and also the strength in the product so that they can provide better deliveries in
the offshore places. The importance of innovation is that it helps in creating a better services and
make things easy for the places like offshore. The invention help in creating a fast delivery of
product and services in the market to places where the facilities are not easily find.
Comparison of innovation and invention
Basis Invention Innovation
Meaning Invention refer to the idea
occurs for product or process.
Innovation implies the
implementation of the
invention idea.
Concept Original idea and working
theory
Practical implementation of
idea
Skills Scientific skills Set of marketing and technical
skills.
F-drone as organization The invention is the idea of
working on the Drone to
increase the performance.
F-drone innovates and
manufactures strong drones so
that they can help them in
providing the services they
want to offer to the market.
NOKIA as organization Telephones GSM phones in 1991 on 1st of

July.
P2 leadership, culture, vision and teamwork in shaping the innovation and commercialization for
the organization.
Innovation and Commercialization are shaped by different process in the organization.
The following ways are:
Leadership : Leadership help in increasing the performance of the idea as it will be done in the
action under people who are already working in that direction. It helps in increasing the quality
and process of innovation. Leadership also provide an impact in the commercialization of the
product into the market by motivating the employees in the marketing team to work hard and
find the places where the services can be impactful and help in business goals.
Culture : Working into the good organization culture where people are motivated and
supportive in creating a better innovation helps the organization and people to innovate better
products. It also helps in creating a better commercialization of the product and services at F-
drone by creating a culture to work hard. They can help and create a healthier ways in doing
cultivable working to promote the services. A great culture at the organization also enhance the
workplace by supporting and with positive culture to promote the ideas into actions (Wang,
Phillips and Yang, 2021).
Teamwork : Teamwork is very important and it can also develop better performance at the
organization. F-drone work in team to increase the efficiency of their innovation because team
work provide more ideas and also show the consequences an idea can make. It helps in
increasing the quality and standard of the organization product and services which can make the
innovation better. To commercialization teamwork can provide a better convincing strategies in
marketing the product on wider level.
Vision : The vision of the organization is to become the best in the drones in the world in next 5
year. They want to rule the market into the drone industry. The vision helps the organization in
reminding the goals and objective and also make them stay positive and improve in performance
as they know what they need to achieve. It also makes them understood about where they need to
commercialized their product and services and how they can achieve the goals and objectives of

the business. Vision helps them in developing better strategies to the places they want to achieve
goals.
P3- 4ps of Innovation nd the use of innovation funnel
Process
Process refers to the working of the organization and the ways in which the F-drones are
providing their products and services in the market. F-drones understand that they create a
process of providing the services in such a way that major people or audience can connect. It will
help them in achieving the business goals and objective (Kim and Park, 2018).
Product
Product of the F-drones are the drones they are offering for the deliveries in the market
and the offshore places. The organization are producing strategies in enhancing their product and
services quality. They work to offer the best product to achieve the business goals and objective
they are aiming for.
Position
Position is the psychological categories which is related to the perception of people about the
organization. It is the mindset of the employee or the customers about the brand and their
product. In today's market it is very important for the company to make sure that their market
image or the perception of the people are good about organization.
Paradigm
It refers to the business model which the organization used to understand the actual
working of the business and it also represents the idea and working of the F-drones. The model
F-drone is using and the concept they are working is the paradigm. F-drone are using the
delivery concept into the drones.
Innovation Funnel
Innovation funnel refer to the bunch of ideas at one places which go through the steps in finding
the actual working idea or invention on which the organization works to make it happen. It
creates a process of develop idea into final product by the implementation and the development
to make final product. It includes three steps :

Investigation : Investigation is the first step of the funnel process as it is the stage where the
most number of ideas are present and it also the stage where the ideas are storage. Then the
organization investigate the ideas and do the process of working on the idea to increase the
innovation chances on the idea by actions (Rasmussen and Eliason, 2017). It is very important
stage as there are thousands of ideas float here which need to be understood and worked on to
find the best for the organization benefit (Eberhardt and et.al., 2017).
Development : Development can create a huge impact in the diversion of the ideas as it can
enhance the working of the business and the innovation strategies. This stage helps in finding the
better and selected ideas so that the organization can develop a better process of creating the
invention into innovation.
Shipping Product : Shipping product are the final product of the innovation after the several
ideas of the invention into the organization. It is the end product after several steps which can be
used by the organization for better offering of services.
P4- Development of frugal innovation with examples
Frugal Innovation:
It is the process of reducing the cost of the goods and the complexity in production. This
includes the removing of non-essentials from the product and make it better to sell in the
developing countries. Frugal innovation is very helpful in increasing the market by changing
limits in the durable goods to sell in developing countries. It helps in increasing the market and
also to provide the services to the developing countries so that they can utilize the product and
services. Organization works so that they always focus on the frugal innovation so that they can
also capture the market of the developing countries and achieve more goodwill and profitability
(Rasli and Kowang, 2017).
For example :
Nokia is one of the top brands in the telephonic industry, and they are producing a huge
amount of telephones in the international market. After getting a good success in the market they
shifted to India with their innovation of NOKIA 1100 which they launched in India, as India is
the developing country. They launched the cellphone in India because they knew that India is a
developing country with huge population and the launch of the cellphone gave a great result to
the organization and provide great result. It is a frugal innovation as the organization changed its
policies and the quality of the product to minimize its costing for the developed countries.

Diageo is multinational in beverage alcohol having headquarters in UK. They have invented and
followed the process of developing the beer in low price to promote in new places or in
developing countries to increase the performance and also to acheive the goals and objective of
the business. It is a frugal innovation as this innovation is made to increase the quantity in the
minimum costing so that the organization can sell in the developing countries.
P5- Importance of commercial funnel and application of new product development
Commercial funnel is the marketing way which is used by the organization by which they
find, qualify and trade their mechanized to the audience. It breaks down the journey of awareness
to purchase stage. The importance of the funnel is that it create awareness and also provide a
action section for the organization.
New product development
New product development refers to the process which include different stages and the
introduction of the new product into market the organization is working. F-drone are developing
their new product in the market and trying to increase the brand awareness of the product and
services they are offering. New product development is important and it increases the activity of
development and it also increases the quality by going through the activity of development.
 Idea generation- This stage refers to the process of identification of the product and the
product functions and its requirements defined along with the voice of customer,
according to that it can functionally design the ideas and float freely to find compelling
potential solutions (Servoss and et.al., 2018).
 Feasibility study and design planning - This helps the management in evaluating the
business success. It is the process at which the idea is being planned and verified by
evaluating from different angles to understand its weakness and strength. After looking
from different angles and making different view. Organization chooses the best of the
requirement product and use it to develop a better product in the development process.
 Design and development - This stage includes the verification and the validation
developed for the future. It is the final quality checking with systematic determination
which everyone agreed.

 Testing and verification - Testing and verification is the stage where the organization
test the product and services they are offering, and they also make different ways to
verify the product and services. This help in understanding better about the detailed
information of the product, it can create a wider understanding about the product and its
issues.
 Testing marketing - Testing marketing refer to the process in which the organization test
their marketing, first they test few samples in the market and then wait for the result or
the feedbacks. After that they work accordingly and increase the process of marketing
with the quantities in the process of developing (Yang and et.al., 2018). F-drone can use
this and increase the chances of providing better product information.
 Commercialization - After getting all the necessary feedbacks and the result of the
testing marketing then the organization went for the sell of the product officially. They
finally finalized the product they want to offer the market and also seek all the possible
services they can offer to the organization. F-drone can use this in the commercialization
and increase the sell of organization.
P6- Build business innovation case for the organization including source of funding.
Introduction
F-drone have made an innovation in the drone product as they have developed the
product and made it in the service of delivery to the offshore places. The organization have made
several developments into the drones to make them better in utilization as a service provider.
Need for innovation
The need for this innovation is important as it had helped a lot of people at the ships and
offshore places where it was hard to provide the services, The organization solved that with their
innovation. It had helped a lot of people in getting the deliveries where it is hard to deliver the
product faster.
Analysis
F-drone have made a lot of process in developing the services but it had created a lot of
opportunity and progress in the offshore places to provide the deliveries. They got a great impact
after they used the technology and innovation of the company. The analysis explains that F-

drone can make great strategies in creating the deliveries as they are developing by different
testing of the product to increase the services.
Benefits
The benefit of the F-drones are that it helped the people who were staying in the offshore
places and the ship to get the services which they had to give a lot of time but it is easy for them
to get the deliveries faster now. The organization product had helped a lot of people in the
process of operation working and it creates a wider choice for the people (Hashim and et.al.,
2021).
Funding
The funding were from different sources including the banks, credit, friends and family. The
organization has used a lot of ways in increasing the funding to make the product get into the
action. Organization had taken help from bank as a finance by showing the statements and the
capabilities of them for repaying. The organization have used different ways of sources of
funding which also include the funds from families and friends. It makes things better as it
enhanced a good process and is easy to get due to the trust in the family or in the friendship.
Conclusion
Working on the innovation needs ideas and the process of the will to complete the wok and make
it into the final product. The services the F-drones are providing is totally different and the places
they are offering the services are different from other.
Recommendations
They can use the testing marketing to understand the market choices, and they can also increase
the brand strength by utilization of the product development.
LO4
P7 Tools that organizations use to develop, retain and protect knowledge and intellectual
property.
Intellectual property (IP):
IP are the manufacturing process to plan of a product launch, it is a trade secret like a
chemical formula. IP can help in increase of the brand safety and it also creates a huge advantage
for the F-drone to provide the monopolistic the product in the market.
 Patents

Patents grant legal rights to exclude anyone to make the same product as the parent
company. It helps the organization in maintaining the monopoly in the product range. It can also
be registered into the foreign countries. Once a brand hold the patents then other can apply to
license the product as patent can last for 20 years (Lai, 2018).
 Copyright
The copyrights protect the expression of the idea but not the idea itself. The owner can
reproduce the product as many times as they want. The organization does not need to write
record to hold the copyrights but the enrolment is a prerequisition if they want to sue the
copyright infringement.
 Trademarks
Trademarks are the name, sounds, phrases or are the symbol used in the association with product
or service. Trademarks are the level the brand show of quality which companies build as a
reputation. It is the sign which allow the consumer to understand and identify. It help in creating
better and faster understanding to the customer.
 Trade secret
Trade secret are the secret of the business which they hide from others as this is their confidential
formulas and strategies they use in the product or services (Kelly and Kim, 2018). It gives the
safety to the process and the structure of the product so that no one can copy the product.
CONCLUSION
From the report it can be concluded that it is crucial to have design because innovation help in
solving issues and it is crucial to make different ways in solving things and ideas. Innovation is
the part of life and F-drone have made a concept of working into the delivery of the product and
services in the offshore places and in the ship logistics. Further it can be concluded that the
organization have developed the ideas into innovation and used it to increase the performance of
the organization in the market. They are developing the innovation and the ideas in creating a
better use of market. The case explains the working of organization and the new product explain
the development ways by which the organization can create a leverage in market. New product
development helps in understanding the process of development of the product and the ways in
which the development can be developed for the organization.

REFERENCES
Books and Journals
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Yang and et.al., 2018. The Commercialization of University and Research Institutes’ Science-
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Online
About Us. 2020. [online]. Available through: <https://www.f-drones.com/aboutus>. [Accessed
on 12 February 2021]