Innovation and Commercialization in F-Drones

Unit 8 – Innovation and
Commercialization

Table of Contents
INTRODUCTION................................................................................................................................3
LO 1......................................................................................................................................................3
P1 Explaining innovation and its importance to organizations in comparison with invention...3
P2 Explaining how organizational vision, leadership, culture and teamwork can shape innovation
& commercialization...................................................................................................................4
LO 2......................................................................................................................................................6
P3 Explaining 4ps of innovation and utilize of innovation funnel to examine & shape innovative
ideas............................................................................................................................................6
P4 Examining developments in frugal innovation and providing examples of how it is utilized in
F-Drones......................................................................................................................................7
LO 3......................................................................................................................................................8
P5 Explaining importance of commercial funnel and application of new product development
processing for commercialization of innovation.........................................................................8
P6 Building an innovation business case for f-Drones, including ways to access funding........9
LO 4......................................................................................................................................................9
P7 Evaluation different tools that companies can utilize to develop, retain and protect IP and
knowledge...................................................................................................................................9
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................12

INTRODUCTION
Innovation and commercialization are the key forces that contribute to enhance productivity,
sales, and profits margin of any company. Innovation is defined as creative idea that has
transformed into practical reality, while commercialization describe as process of converting ideas
and inventions into greater wealth for companies, etc. The current study is based on F-Drones,
which known as world's first transition drone manufacturer. The assignment will explain innovation
and its importance in context of company in comparison with invention. It will define how
organizational vision, culture, leadership & team work shape commercialization and innovation.
Furthermore, the report will justify 4ps of innovation and use of innovation funnel to examine &
shape creative ideas. It will describe the development in frugal innovation and example relate to
how it is used in company context.
The assignment will clarify importance of commercial funnel and application of NPD for
commercialization of innovation. Moreover, the study will explain innovation business case and
varied tools that companies can utilize to retain, develop and protect knowledge as well as
intellectual property.
LO 1
P1 Explaining innovation and its importance to organizations in comparison with invention
Innovation can be understood as actions required to create new ideas, procedures and
products implemented which leads on positive effective change with high scale ideas imperatively
on longer scale operations. It also implies value system which derives positive outcome from
competitive efficiency, on which innovation plays crucial role to evolve towards new revenue
targets actively.
Invention is unique or novel experience where procedures and overall well-being product
development process, for improving products and services creatively. This factor explains
invention achieves completely unique function to create the best radical breakthrough, for improved
developed connectivity towards new productive domains.
Comparison between innovation and invention
 Invention refers to occurrence of idea for products or procedures that have not been used till
now, also there is vast level of extended functional parameters to improve productive usage.
For invention scientific skills are required, where new idea strikes enables to bu id smart
progressive efficacy among working scenarios. Invention is often linked with single product

and process which is also one step procedure, where scientific application brings on varied
growth towards varied productive efficacy operational scenarios. Invention may be success
or failure, on longer scale usage where there needs to be analysis developed towards
functional horizons actively.
 Innovation on other hand is bringing advancement in already invented methods, products
and services where set of creative marketing, technical and strategic efficacy diversity is
demanded. The procedures of innovation is occurred when need is felt for improving
functional capabilities in already invented products. Innovation occurs to whole company
operations for bringing on varied range of diversity among competencies, rise on new
advanced scale domains and expand towards the best revenue targets. Innovation adds brand
value to product, for raising informative functional work reach actively, enhance keen
domains actively towards new directive domains for varied scale growth. It can be
understood innovation has shaped business productive diversity effectively and generate
larger scale technical growth, to yield on specific rise on performance parameters
competitively.
P2 Explaining how organizational vision, leadership, culture and teamwork can shape innovation &
commercialization
F-drone may shape its innovative idea and commercialization by using key resources that
are mention below-
Organizational culture-
Positive culture at the workplace always enhance the productivity of workers and drive them
towards creating an innovative idea, which management after evaluating may implement into
practical manner (Wang, Phillips and Yang, 2021). In term of work collaboration and coordination,
the culture of F-drones motivate and encourage applicants to bring creativeness in their
performance. Furthermore, by changing the way they direct a team, a leader in firm drive attention
of employees towards doing creative and innovative practices.
Teamwork-
Just like above component, team work also shape innovation & commercialization in term
of conducting collaborative practices and sharing new ideas that help to promote new drone in
market. Team work enhance innovation in two manners, first it changes cognition, effective
experience and competence of individual worker, which in return boost their creativity and attitudes
to solve issues effectively (Hadjielias and et.al., 2021). Furthermore, group work also contribute to