Innovation and Commercialization in Samsung

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Comparison of invention and innovation...............................................................................3
P2 Innovation shapes vision, leadership, culture and teamwork.................................................5
LO 2.................................................................................................................................................6
P3 The 4P’s of innovation............................................................................................................6
P4 Developments in frugal innovation........................................................................................7
LO 3.................................................................................................................................................8
P5 Commercial funnel and the application of new product development (NDP).......................8
P6 Innovation business case.........................................................................................................9
LO 4...............................................................................................................................................11
P7 Tools that organization can use to develop, retain and protect knowledge..........................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation can be defined as a new imagination, new idea which is in a form of device or
method and with creative thoughts. Innovation can help organizations in market to unarticulated
their needs, existing market needs and new requirements. Innovation and invention are very
different from one another there is an involvement which is practical in innovation so that the
impact on the market and society is much better.
Commercialization involves the new products and production methods which are being
introduced in the market which is going to make the companies have a competitive advantage.
Here are a lot of inventions which are being done by the research and development which is not
being launched b the companies. The products which are being launched or introduced in the
market have to be customer friendly so that the product can make a place for them in the market.
Samsung is a Korean company with its headquarters in Seoul which is a private company
and is a multinational company which is spread worldwide. There are more than 320,671
employees working in the organization which is making the workforce for the organization better
and the organization has a competitive advantage.
The report would be focusing on the changes which are taking place in the company due
to innovation and commercialization. The company has come out with wireless data transfer for
mostly business class which is a great idea for the company. There are a lot of ideas, methods,
thinking and processing which are coming up getting this product in the market which would be
discussed in the further report.
LO 1
P1 Comparison of invention and innovation
Innovation is very important in any organization because the world is constantly
changing and so does the company’s in market have to get those changes so that they can
continue to have a competitive advantage over the other companies (Farid, 2016). There are a lot
of products which Samsung is dealing with but the company have to innovate the existing
products so that they can capture more customers in the company. The company is coming up
with this new product so that they can provide more verity to the customers and they want to
contribute to the society for a long term. Samsung is doing their best so that they can satisfy the
customer needs and demands and satisfy them completely. Samsung is making sure that they are

not providing the customers with default or defected technology which is why the company has a
strong portfolio for themselves.
Innovation Invention
There are changes which take place in the
existing product in the market of the
organization are innovation. This is done so
that the company can attract more customers in
the company and satisfy them completely. It is
very important for the organization to innovate
according to the customers so that the needs
and demands are met of customers and the
retention of the customers is present in
organization.
Inventions are the new products which the
companies come up with so that they can
attract more customers and give variety in the
company. This will make customers be loyal
with the organization which is going to make
the organization have a competitive advantage
for a long run in market (Cheah, 2016).
There is a requirement of right skills and
strategies to make this process take place
within the organization so that the customers
can get the best. There is a need which is felt in
the organization to get the change therefore
these changes are made in the company's
products.
There are a lot of experiences which is
involved to get an invention in market which
requires science. The research and
development department is which is reliable on
so that the changes in the organization can be
done. Invention will give the company a
competitive advantage and a uniqueness in
market.
There are a lot of unique features which
Samsung is providing to the customers which
are slim in look and lightweight, cheaper and
affordable, Available in three colours which
are silver, gold, black, S bike mode is the best
feature in Samsung, etc (Fuller, 2017). This is
a very good factor for the company because
there are going to be more customers who are
going to see this innovation in products and
The invention which Samsung is doing is use
of wireless data transfer which is very
important in today's world. This is going to
make the company get a lot of customers and
specially the business class because that
requires a safe and faster way to transfer data.
This is not like blue booth but when the
devices are touched the data can transfer from
one phone to the other.