Innovation and Sustainable Development

This assignment delves into the multifaceted connection between innovation and sustainable development. It examines how knowledge assets, particularly in the context of open innovation and frugal innovation, contribute to achieving sustainability goals. The analysis also considers the role of innovation culture in fostering a collaborative environment that promotes both economic growth and environmental responsibility.

UNIT 8. INNOVATION AND COMMERCIALISATION
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Table of Contents
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The contemporary business scenario is experiencing an accumulation of various historical
events in relation to the innovation and commercialisation. These rapid changes appear
remarkable in changing the way each organisation is looking at innovation and
commercialisation. The organisations are considering innovation and commercialisation as an
effective tool to improve their position within the market.
At the same time, innovation and commercialisation play crucial role in improving the
performance standard of the small and medium-sized industries (SMEs). These SMEs are
considering and analysing the performance of the big firms of the industry in this regard. Further,
they are aiming at developing a holistic framework for innovation and commercialisation based
on their findings.
The prime objective of these organisations here is to come up with winning strategies and
develop competitive products. In this regard, this assignment considers the case of Brands2Life
and explaining their functioning and highlights the impact of the innovation and
commercialisation skills of Apple and Virgin on the organisation.
Task 1
LO 1: Explaining the context for innovation and determining the differences between
invention and innovation
P1 Explaining innovation and its importance to the employees of Brands2Life
In the modern era of continuous development, innovation plays the significant role in
setting the position of an organisation within the industry. Innovation refers to the ability of an
organisation to develop new ideas and approaches. In addition, the organisations need to put
these ideas and approaches into their organisational practices.
The fundamental motive of the organisations behind putting these approaches and ideas
into action is to ensure effective commercialisation. Success in innovation and
commercialisations can add value to the performance of an organisation (Carmeliet al. 2012,
p.341).
The business dictionary defines the term innovation as transforming ideas into product in
order to enhance the value of the product. The customers of an organisation pay for this
enhanced value of their required product or services. Therefore, the organisations aim at
analysing their ideas to realise them at an economical cost. That is, the innovation strategies of
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an organization must be cost efficient and specific. This, in turn enhances the value of the
developed products.
In this context, it is essential to mention that although innovation and invention are often
discussed simultaneously, there exists a structural difference between these two. The invention
refers to the development of a new product, whereas innovation is about developing new ideas
(Gokhberg and Meissner, 2013,p.313).
That is, innovation allows an organisation to turn invention into marketable products.
Precisely, innovation refers to bringing distinctive features in the inventions. Invention generates
demand for the product of an organisation (businessdictionary.com, 2016). Innovation, on the
other hand, allows an organisation to serve their customers in accordance with their specified
needs.
In contrast to the theories of innovation, invention refers to embodying new ideas
(businessdictionary.com, 2016). That is, it refers to the capability of an organisation to develop a
new product to the customer base of the organisation. Invention opens a new dimension to the
organisational operations of different companies.
However, considering the benefits of product invention, organisations aim at acquiring
the most from their innovations. In relation to this, the organisations rely on patents and
copyrights to protect their entities. For further understanding, it is effective to consider few
examples of innovation an invention. For instance, Apple opened the door to a new horizon in
the market of music systems by developing iPod.
The market already incorporated various music systems that demanded to offer the best
features to the customers. However, they all failed to accommodate a large variety of music in a
remarkably small sized device like Apple’s iPod. This refers to the innovative initiative of Apple.
On the other hand, when steam engine was discovered, there was no alternative of it in the
market. This indicates invention. An as the development on the functioning of steam engine
indicates, this invention opened door for further innovation.
Along with the big business bodies, the SMEs are considering innovation sincerely due to
its importance in improving the market position of the enterprises. In this regard, the employees
of Brands2Life need to understand this significance as well. Brands2Life is a multidisciplinary
agency in London (brands2life.com, 2016). This award-winning organisation shares an extensive
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global capability. To improve their industry position, the organisation needs to understand the
importance of innovation.
Brands2Life appears quite effective in this regard nevertheless. Their emphasis on
incorporating the strategic planners, creative thinkers, and people with great expertise in their
field reflect this effectiveness (brands2life.com, 2016). For example, in the context of the Virgin
Group, the innovation skills have been maintained, as the managers have developed the strategic
plans after consulting with the lower level employees and their innovation ideas have been
restored in many cases and have proved to be successful for the company.
In relation to this, it is essential to analyse the performance of the large organisations in
this case. For example, as world’s most innovation organisation Apple put emphasis on diversity
(apple.com, 2016). It allows the organisation to gather a varied perspective of innovation from a
large set of people with different ideas and approaches.
For example, it allowed the company to understand the market demand regarding music
player. This allowed them to develop iPod that claimed the no. 1 position in the market within
few months of its release. On the other hand, Virgin believes in keeping the curiosity alive
(virgin.com, 2016).
In this regard, the organisation encourages ideas from all their employees. Further, the
organisation believes that curiosity allows a person to take the risk. To ensure effective
innovation, willingness to work with risk is essential. However, the organisations need to assess
the risk while developing decisions as well.
As the multidisciplinary organisations, Brands2Life needs to encourage their employees
like Virgin. Further, they need to support the employees through innovativeness. This would
contribute to boosting the organisational image of Brands2Life.
P2 Explaining the way organisational vision, leadership, culture, and teamwork can shape
innovation and commercialisation
To understand the innovation and commercialisation effectively, it is essential to consider
each of the factors associated with organisational performance and analyse their influence on
innovation and commercialization. These are considered as the main sources of innovation. The
first to mention in this context is the organisational vision.
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To ensure efficacy in innovation and commercialisation, the organisations need to
develop a clear vision. That is, the authority needs to have a proper idea of their purpose.
Further, they need to promote this vision among the employees. This is essential to encourage
the employees and ensure innovativeness from their end.
For example, Virgin group has their organisational vision clear and they believe in
encouraging and supporting each other within the organisation to ensure innovation and boost
their performance (virgin.com, 2016). In this relation, it is essential to mention the importance of
teamwork and effective leadership.
Teamwork is one of the most commonly used organisational practices to encourage and
support the employees. In addition, as teamwork promote the cumulative effort, it appears
effective in developing the innovative idea (Davis and Marshall, 2014, p.223). In this regard, it is
essential to ensure strong leadership within the teams. Effective leadership is essential to
optimise productivity within the team (Bock et al. 2015, p.291).
Further, efficient leaders can encourage the team members to practice creative thinking
by sharing the passion with them. This creative thinking is a crucial factor in the context of
innovation.
On the other hand, culture is an important factor in this case. Each organisation needs to
ensure a culture that encourages and supports their employees. This would allow the employees
to share their ideas with others (Martín-de Castro et al. 2015, p.359). For example, the
organisational culture at Apple is based on diversity (apple.com, 2016). This allows the
organisation to gather ideas from people with diverse observations.
The innovation cultures may be restored in the company by inculcating the following
steps that includes the defining of the innovation cultures followed by the innovation
programme. The third step involves the determination of the plan that is generally followed by
the vision and leadership.
The fifth step is related to the leading of the plan from the present place; however, an
important consideration in this stage is the next stage of valuing the people that are important for
the companies or the organisations. The next stage is the process of analysing and nurturing of
the better ideas of the people of the company, followed by the reclaiming of the authority to
interrupt things for any precautionary measures.
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Redesigning the work environment and the improvement in the tools and techniques are
important. JFDI and the communication freedom are the concluding steps that are essentially
required for the innovation cultures to be maintained (Peretz et al. 2015, p.900).
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Task 2
LO 2: Explaining different types of innovation to the employees of Brands2Life
P3 Explaining the 4Ps of innovation and the uses of innovation funnel to shape and
examine innovative ideas to the employees of Brands2Life
Considering the importance of innovations, the research and development team of each
organisation is using several innovation theories to shape and examine the innovative ideas of the
employees. Innovation is often in the eye of the beholder the company what may be new ofr one
product, may be old product news for another. Company despite this identifying and innovation
with useful thinking that focus on the different innovation process in the products, process,
peoples and press. The 4Ps model to develop to provise a powerful tool for analysing the impact
of these elements in the business process.
Product innovation- The first factor is the product. The organisation needs to
consider their purpose and then the thing of the innovations they can make in the product to
make their mark in the market. For example, Apple considered the possibility of bringing
innovation in the music player market. Regarding this, they analysed the market to identify the
scopes of further improvement. Innovation in the products to change in the things of the products
and services that provide by the company. The company changes in the products and services to
changes in the designs, features, quality, prices and packing, there are may also innovation in the
products which help to achieve the humanitarian goals by the company. Apple company come
back after some the innovate the many products are Apple II, iPod, I phones and I pads. Is the
latest product launch by the company. The company innovation in the products by the apple have
been novel and crating new innovation in their products like high battery life of the products,
slim laptops and new touch technology features.
Process innovation- To ensure effective innovation, the organisation needs to
analyse the process requirement effectively. This includes analysing both internal and external
processes. Company innovate the new ideas that focus on the process include the products are
creating and delivered to the end customers. The company's many products are use in the relief
settings for initially development for the non-relief context that focus on the innovation of the
humanitarian to considering a products exiting after the use. Process innovation of apple
company has been made to available the music to be purchased by the customer through the
online. Innovation in the apple company process to searching the new opportunities for selecting
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the best option, option implementation and create the new benefits for the process of the business
supply and creating the products.
Position innovation- The next factor position is essential to analyse the organisational
perception of their performance. This is referred as the position factor. Apple company involves
the innovation in the positioning to establishing by the products or process context. This
innovation refer to the changes in the specific product or its process to perceived the
symbolically and how they used it by the end users.
Figure 1: 4Ps of innovation
(Source: Martín-de Castro et al. 2015, p.361)
Paradigm innovation- The last factor, paradigm focuses on the required changes to
appear successful in bringing innovation. Apple changes in the paradigm from starting products
manufacturers to create the new products. This innovation related to the mental model to sahpe
to the company.
Another theory that appears effective in this case is the innovation funnel. The
fundamental idea of innovation funnel is to collect ideas from the employees (Vanhaverbeke,
2013, p.6). The model further provides the guideline to turn the ideas into products and
commercialise them. In this context, the model highlights the importance of assessing the ideas
and tests them to identify their efficiency in improving the market position of the organisation.
Once a product successfully passes the test, gate, the organisation launches the product in
the market. The application of innovation funnel is evident in the organisational practice of
Virgin (virgin.com, 2016). Virgin Group encourages ideas from all their employees. Further, the
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organisation believes that curiosity allows a person to take the risk. To ensure effective
innovation, willingness to work with risk is essential. However, the organisations need to assess
the risk while developing decisions as well. Once it passes the assessment gate, the organisation
tests the product and finally launches it.
Figure 2: Innovation funnel
(Source: Vanhaverbeke, 2013, p.6)
Knowledge may be an important source of innovation. It involves the knowledge of the
economy of the company and the markets that are related to the company. Moreover, the
materialistic knowledge together with the other aspects provides an essential source of
innovation. Another source of innovation is the Incongruity. In this method, the need for the
change is the major factor that drives the way for the effective innovation in the different
companies and the organisations (Link et al. 2014, p.111). These methods may have an
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important step forward for the company to have the desired levels of innovation to be established
within the companies or the organisations.
P4 Examining the way Brands2Life can develop frugal innovation
The basic utility from developing the frugal innovation is it allows the organisations to
minimise cost by eliminating the non essential features of the products or services the
organisations produce. Along with cutting the cost, it appears effective in reducing the
complexity of production.
As a multidisciplinary organisation, Virgin group has a high chance of lacking proper
innovation (virgin.com, 2016). However, the organisation is excelling in that field due to their
strategic thinking. Along with providing exotic services to their customers, the organisations are
paying sincere attention to the cost-conscious customers. Their innovative commercialisation of
mobile phones, internet services is evidence in this regard.
Brands2Life needs to take inspiration from the performance strategy of Virgin group. As
the organisations provide B2B and communication services to their customer, the organisation
needs to analyse the features of their services. This would allow them to identify areas that have
scopes of simplification. Simplifying the services would allow them to cut their expenses and at
the same time reduce the complexity.
The Frugal innovation is advantageous for the companies and the organisations in a
finite number of ways. This method reduces the complexity of the different products and the
services of the company. In the context of the different companies, the demography of the area
may be factor that leads to the frugal innovation to be introduced in the products of the
companies, that may allow them to sell their products as desired by the people and at lower costs
as well (Zeschky et al. 2014, p.24).
The Frugal innovation is involved with the defining of a number of parameters. These
include the method of engaging and iterating where the researches are made to identify the
aesthetics of the general people of the area. As mentioned by Tiwari et al. (2017, p.25), Flexing
the assets is involved with the development of the relationships with the partners to improve the
methods of their productions.
Creating the solutions at the sustainable levels allows the company to adopt the methods
of protecting the environment, thereby improvising the better brand trust and loyalty among the
customers. Shaping the behaviour of the customers is another frugal method of innovation,
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where the customer behaviour trends are analysed and their products or services are made
accordingly to modify the behavioural pattern of the customers.
Creating the values is another method that is generally implemented by the companies,
to improve their overall profits in an area of service or business. The company in the other
aspects may improve their business methods by increasing the levels of their alliances with
others, to have a supportive environment for the company at the time of their recessions.
Principles-
Engage and iterate- A company using the insular research and developing the thise
department that rely on educated about the customers needs. Company start the observing the
clients behaviour in the company environment. Its give a better solution that focused on the
market that use research and development model to starting with the good solutin base
involvements of the customers.
Flex the assets- New products use the new material, tools and supply chain techniques
reduce the demand gad of the supply and increases the procurement.
Create sustainable solution- Company create a sustainability in the work environment
for their workers and and provide a eco-friendlily products fort he costumers.
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Task 3
LO3 Discussing the process required to commercialise innovation in the technology market
P5 Explaining the importance of commercial funnel and the application of New Product
Development (NPD) processing for commercialisation to the employees of Brands2Life
In the case of commercialising the products, the commercial funnel plays the significant
role. It allows the organisations to narrow down their considerations while commercialising the
products. The first stage of this funnel is awareness. That is, the organisation needs to spread
awareness regarding the product to ensure effective commercialisation (Visentin et al. 2016,
p.31).
The next stages are consideration and conversion. These stages are correlated and
contribute to effective commercialisation. The last two stages are loyalty and advocacy. These
factors altogether result in successful commercialisation. The organisations are considering
innovation and commercialisation as an effective tool to improve their position within the
market. At the same time, innovation and commercialisation play crucial role in improving the
performance standard of the companies.
Figure 3: Commercial funnel
(Source: Visentin et al. 2016, p.31)
The New Product Development is another important part of excelling the innovation. It
refers to commercialising a new product. This includes commercialisation of both tangible and
intangible products. New Product Development opens the door for transforming the market
opportunity for an organisation. Therefore; the organisations lay great emphasis on the New
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Product Development. In relation to this, Brands2Life needs to understand the importance of
New Product Development as well.
In fact, for a multidisciplinary agency like Brands2Life, it is crucial to put the greatest
degree of emphasis on New Product Development. As the recent market situation represents high
competition among the organisation to acquire a greater share of the market, it is not enough to
improve the quality of production only. Innovation is essential to boost the demand to the
consumers. In this regard, the companies need to marketize new products along with developing
the existing products (Gopalakrishnanet al. 2015, p.6).
This is evident for the organisational practice of Apple. Along with ensuring the quality
of the commercialised products, Apple is continuously aiming at marketing a new product. In
2010, when Apple commercialised iPod, there was no product like this. Although there existed
various music players, but a product with the size and storing capability like iPod was entirely
new in the market. This action from Apple's end was reflected by the increase in their sale.
Within few months of the commercialisation, the product achieved the no. 1 rank based on the
selling amount.
From the evidences established by these organisations, Brands2Life needs to identify the
product characteristics and analyse their impact on commercialisation. In this context, the
company needs to advocate their product in a critical manner. Further, they require staying loyal
to the organisational objective.
Moreover, the organisation must align their expectation from the product with their
organisational objective. This would ensure an ethical, loyal, and transparent working practice.
In addition, the organisation needs to communication with the customers to identify their
perception and develop new strategies accordingly. On the other hand, they need to aware the
customers regarding these changes.
P6 Building an Innovation Business case including ways to assess funding
To build innovation, funding is one of the prime considerations for each organisation.
However, the need is more prominent for small and medium size enterprises. Therefore, these
enterprises need to focus on the funding with the greater degree of sincerity. In this regard, they
need to identify the sources of funding. The funding possibilities are almost similar for all
organisations nevertheless. Government funding, investors, grants schemes, loans backed by the
government and non-government sources are the key sources of assessing funds (Purves, 2015,
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p.8). Organisations like Apple and Virgin depend on these sources as well. The main source in
this regard is the funding raised by the investors of these companies. In this context, the
organisations sell their company share in the capital market. This allows them to assess the fund
they need to build innovation. Improving or replacing business processes to increase efficiency
and productivity, or to enable the business to extend the range or quality of existing products
and/or services.
The Brands2Life can sell their share in the capital market as well. It would allow them to
assess fund as well. In addition, there exist various schemes for the SMEs that allow them to
collect fund. Brands2life can apply for these schemes as well. However, in this case, the
organisation must fulfil the requirements for availing the fund. Another source that is effective in
this case is crowd funding. Crowd funding allows the organisation to collect fund from various
small sources (Mollick, 2014, p.11).
The cumulative fund, however, is significant in fulfilling the funding need of the
organisation. Utilising crowd funding is a great source of assessing fund for the SMEs. The
Virgin group represents great dependency on crowd funding nevertheless.
On the other hand, Apple follows an innovative way of gathering fund as well. Apple
invests in other organisations and enjoCommunication involves not only listening to their needs
but also actively observing their behaviour around current products and services and generating
ideas on how you can make improvements.
ys a share of the profit earning of the organisation. This is evident from their decision of
buying shares of Microsoft. This innovative decision of Apple can inspire others to participate in
activities. Brands2Life too can take inspiration from the activity and invest in other organisations
of the industry. Developing entirely new and improved products and services - often to meet
rapidly changing customer or consumer demands or needs and adding value to existing products,
services or markets to differentiate the business from its competitors and increase the perceived
value to the customers and markets
In words of (Siew, 2015,p.163), along with raising fund for the organisation, it would
contribute to productive competition among the organisations of the industry. Moreover, they
can go for various business loans to assess fund for building innovation.
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The basic idea of the plan is to improve the telecommunication methods among the
people and the other companies. It is important to devise the strategies for the alternatives, if the
different situations are evident on the companies.
The alternatives will be developed that are based on the different strategies developed by
the companies and managing the decisions or the previous suggestions of the employees in the
company. Several resources are required for the plan that includes the thorough research and
development.
The research and development will allow the company to analyse the important areas of
their activities in a particular area and a period of time. As mentioned by Rasmussen (2010,
p.89), the effective amount of trading options, sufficient communication channels and the
increased labour forces are the resources that are required by the company to have their plan be
executed in a coordinated way.
The major advantages for the company, in this context are the improvement not only in
the trading relations with the other companies, but also the improvements in the communication
methods that are used by the company both in their working environments and in their
businesses.
The active roles are maintained by the supervisors of the individual teams that aim at
restoring the effective communication levels with their partner’s organisation and the
telecommunication services that are offered by the employees of the company. About 30 days of
dedicated and collaborative working may provide the essential step forwards for the
implementation of the plan.
The idea is required to be protected by the method of maintaining the confidentiality
between the traders and the company. The information flow may be established in terms of the
accessory areas however, the trading and the financial ideas are not required to be shared. There
are many approaches to improved in the products quality and quantity. Its help to identify he
opportunities for innovation by adopting the company products in the market place is changing.
Communication involves not only listening to their needs but also actively observing their
behaviour around current products and services and generating ideas on how you can make
improvements.
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Task 4
LO 4: Evaluating the range of methods for protecting ideas and understanding their
advantages and disadvantages
P7 Evaluating the different tools that Brands2Life can use to develop, retain, and protect
knowledge and intellectual property
To improve the organisational performance of an enterprise, it is essential to aim at
developing knowledge on the products, related industries, and the market situation. In addition,
they need to retain and protect the knowledge. To develop knowledge, the organisations put
emphasis on the knowledge and skill of the employees (Rasulaet al. 2012, p.147).
In relation to this, the organisation ensures to identify the nature of an individual at the
time of recruitment. The human resource strategies are effective in this regard. Strategic human
resource management allows the organisations to employ workers with effective knowledge and
skill. Brands2Life uses human resource strategies to develop knowledge within the organisation.
The advantage, in this case, is it allows Brands2life to identify the potential of their
employees. Further, they use human resource strategies to retain and protect knowledge as well.
Regarding this, the organisation ensures a community-based organisational practice. This
contributes to supporting the employees to keep their creativity and thinking ability alive (Hsu
and Chang, 2014, p.163).
The protection of the trading secrets is needed to be made confidential for the
maintenance of the privatisation of the trading partners, to ensure the complete control over the
trading partners of the company. Petty patents and their stabilisation for the business platform
operations are important, as these features enable the company to maintain their secrecy in their
business operations under certain heads (Abdul Razak et al. 2014, p.262).
In addition, the organisation provides training to develop further structural and
organisational knowledge among their workers. The one prominent disadvantages of this strategy
are it sometimes fails to optimise the retention of knowledge of the employees with respect to the
organisational objectives.
As mentioned by Chun et al. (2015, p.902), the mode of operations for the SME’s are not
huge, therefore, in this aspect the companies require to maintain their secrecy and privacy. If the
confidentiality for the trading secrets is not maintained, it may lead to the developments in the
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approaches for the other organisation. A situation may be evident where the traders are provided
with the better benefits by the other companies.
Therefore, in these cases the trading opportunities for the initial companies are effectively
hindered. However, the disadvantages are that the information flow in the organisation is
reduced. Therefore, it may be evident that the employees and the other professionals do not have
the proper objectives of their operations and the knowledge of their management.
The intellectual property of an organisation shares high correlation with the knowledge of
the employees of the organisation. Intellectual property refers to the uniqueness of the employee
knowledge (Candelin-Palmqvistet al. 2012, p.502). This uniqueness comes from the
inventiveness, creativity, and ingenuity of the employees. Intellectual property of organisations
contributes to the growth and development of an organisation by ensuring innovation in the
organisational practice of the organisation. Therefore, the organisations pay the highest degree of
emphasis in protecting the intellectual property of the organisation.
In relation to this, Brands2Life pays sincere attention to development, retention, and
protection of the intellectual properties of the organisation. The organisation invests time to
create smart intellectual properties. Regarding this, the organisation trains and supports their
employees effectively as well. Further, they access help from other agencies to protect the
intellectual properties. In this regard, they collaborate with specialised attorneys to protect the
intellectual properties of the organisation.
As (Griffith et al. 2014, p.19) commented in their work, this not only ensures efficiency
of the organisation in protecting the intellectual properties of the organisation, this ensures cost
reduction as well. In the context of protecting the intellectual properties, the role of patents and
copyrights are crucial. Apple, as an industry leader, understands this need of creating and
protecting the intellectual rights of the organisation.
In addition, Apple ensures that their intellectual properties are rich in innovation and
diver. In the context of creating and protecting the intellectual properties, it is important to
understand that the process of creating and managing intellectual properties is expensive. This is
one disadvantage of the process. However, ensuring efficiency, in this case, can ensure the
efficacy of organisational practice of a company in short-run and it opens up the possibilities for
the company in future.
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Conclusion
Innovation and commercialisation appear to be things of great concern for each
organisation in recent times. To make the mark in today's competitive industry, the organisations
lay sincere consideration to innovation and commercialisation. Regarding this, the assignment
aims at highlighting these factors in a comprehensive manner. From the description provided in
the work, it can be cited that the degree of emphasis organisations put on innovation is
continuously rising.
However, while discussing innovation, it is essential to understand the difference
between innovation and invention. The work appears effective in explaining these differences. In
addition, it explains different type of innovation and the process requirement for
commercialising the innovations. Moreover, the assignment considers an organisation to provide
a detailed understanding to the readers. In this relation, it evaluates different tools that promote
innovation.
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24