Innovation and Commercialisation: Explained and Analyzed

This document provides an in-depth analysis of innovation and commercialisation in organizations. It explains the concept of innovation and its role in improving business growth. The document also explores the 4 P's of innovation and their application in the drone industry. Additionally, it discusses the impact of innovation on organizational vision, mission, leadership, and teamwork.

Innovation and
commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Explain innovation..................................................................................................................1
organisational vision, mission and leadership........................................................................3
TASK 2............................................................................................................................................6
4 P's of innovation..................................................................................................................6
Development in frugal innovation..........................................................................................9
TASK 3..........................................................................................................................................10
commercial funnel and new product development (NPD)...................................................10
Innovation business case for the company and different ways of funding...........................11
TASK 4..........................................................................................................................................12
Evaluate the different that organisations can use for developing, retaining and protecting
knowledge and intellectual properties..................................................................................12
CONCLUSION..............................................................................................................................13

INTRODUCTION
Innovation plays a significant role in organisations as it continues to improve the growth
and advancement of businesses. It is concluded, according to some studies, that small medium
businesses will implement creative innovations more easily than larger enterprises. They have
less bureaucracy and more appetite for risk-taking and fast appreciation for market conditions.
Commercialisation, on the other hand, is characterised as a method for turning innovations,
information and innovation into greater resources for companies, individuals and societies.
In this report, there is developing of the world's first transition drone for F-drones to
enable aerial deliveries to ships and offshore platforms. Our unique concept would have a blend
of heavy payload and long-range capability that will bring shame to other emerging delivery
drones. Our drone can still take-off vertically with such amazing specs, fly like a fixed-wing
plane, and land on a moving target. Consumer-grade drones are passing; we are developing
drones of aviation grade that will set high levels of protection and reliability. In 5 years, we plan
to be the pioneer in the logistics of heavy payload drones through industries. Both big, medium
or small, the idea of creativity has become a key subject of concern for multiple organisations.
TASK 1
Explain innovation
Innovation is defined as the development of new thoughts, ideas and creativity that are
added to the programmes and goods of different organisations. Innovation, on the other hand, is
characterised as an important organisational force that helps to build business models and
introduce improvements in the current business climate. It aims to provide better services and
merchandise. These advances lead to the rise in consumer satisfaction and to the successful
distribution of goods and services. Innovation leads to preserving the organization's strong name
and image in the industry in today's world of competition. Businesses continue to experience
creativity as this aims to offer better services and goods. The Drone Company's management
insists on supplying customers with professional services. This would continue to increase the
number of clients who access this place. In this way money and gains would be easier to
produce. The business Drone is implementing fresh technologies. It will be a special business
where modern technology is available. This helps to provide clients with reliable resources and
easy delivery. Invention, on the other hand, is characterised as producing, improving,

constructing and exploring new strategies, processes and methods that are not present in the
existing market and business climate. The invention is the process of bringing together all the
resource to make new things which is not there and it is new to the people. They are a cause of
change. The inventors are good observers and they make the products according to the needs of
customers.
Difference between innovation and invention
Basis Invention Innovation Innovation Invention
Definition Innovation is defined as the generation of innovative concepts and ideas for
transforming goods and services. Innovation is characterised as the creation of new concepts that
are applied to the company's existing services, products and processes.
The primary focus is on the development of innovative goods and services. Innovation relies on
building values for the company's delivered services or goods.
Aspect This is a century of principles in philosophy and their working. This is the realistic
application of new & innovative thoughts.
Entrepreneurs must have trained and skilled workers who are willing to deliver innovative
knowledge, research skills, imagination and critical thinking. This allows the product or service
delivered to generate enticing and successful concepts. This person must have strong abilities
and expertise in marketing analysis. Strategic analysis and technical expertise must be used in
this.
There is a need for creativity in the drone market as it interacts with the e commerce
industry. There is tremendous rivalry in this kind of business market. In order to retain a
competitive edge, it is also advisable that companies must implement new technologies. The
breakthrough of the Drone business is that interactive menu tablets and robots are used to serve
the online items to customers. It would continue to draw more buyers.
The challenges of innovation and invention for businesses such as F-Drone
The organizations are having the economic impact because the drone are available to the
customers easily. The drones were invented to help the military and they were restrain from
commercial purposes and with the innovation they are used by the people for commercial use
which is illegal because they can harm the personal life of the people.

organisational vision, mission and leadership
Innovation & commercialisation are both factors which are associated with vision,
culture, leadership and teamwork of the company. Innovation in the product of the company
effects vision, mission and leadership within the organisation. The reason behind this is that the
aim of innovation must be made inclined to the innovation so that there is achievement of
strategic objectives of the company. Leaders have to change their ruling and guiding when new
products are launched in markets.
Organisational Vision – Every organisation has particular vision and this helps in
providing information regarding the objectives and goals of the company. The vision of
organisation affects employees and managers of the company. Vision explains what are the goals
of the organisation for future. Thus it is important that vision of the company is clarified to
employees so that they can work effectively in the company. The employees of Drone company
are working hard for providing innovative and quality services to their customers. The main
objective of managers of this company is to provide quality and attractive services to customers
by offering them fast and quality food. For sustaining in market, it is necessary for this company
to continuously innovate the services provided to it's customers. The organisational vision of
this company is linked with promoting change in the company. This company always motivates
it's staff to produce new and creative ideas so that they can work in an effective manner.
Leadership-Leadership is considered a talent and strength that encourages people to work
according to their orders to make other individuals work. In order to accomplish the company's
desired objectives, the company's management and representatives must oversee and monitor
mechanisms for taking successful actions. Democratic, autocratic, participative, laissez-faire,
decisive & consultative are the various forms of leadership styles practised by administrators and
leaders of organisations. Product invention changes the way company processes are handled and
operated by a boss. It is seen in the industry surrounding the Drone sector where there is an
autocratic leadership style practised by administrators and executives. The business owner or
boss of this business makes rules and regulations to be enforced in the organisation. Both
workers and team members have to operate according to the orders and directives provided by
the company's owner. This company's business owner has thought about bringing fresh creativity
in this business (Alvesson, 2015). The business manager has agreed to incorporate automated
menu tablets and robotics into the organisation after evaluating the latest developments within

the business sector. As it draws a lot of clients, it is a smart idea. The Drone company's
imaginative mind helps draw a lot of consumers with less time. In this manner, income generated
by this business rise in less time. This gives the organisation a strategic edge in the industry.
Many that follow democratic leadership models are the sort of leaders who are most successful
in operating in the business. These leaders will take new suggestions and thoughts from multiple
workers who work in the business.
Culture – It is referred to as multiple principles, opinions, assumptions, strategies
selected by the company to work and survive in the market setting. This is known as
organisational expectations, philosophies, perspectives, and this is beneficial in meeting
organisational goals and goals with less time. Individual, position, control, mission are the
various types of culture practised in an organisation (Hock, Clauss and Schulz, 2016). In the case
of the drone firm, it is concluded that the company's business owners supply their subordinates
with guidance and orders for performing successful work. The Drone Business Boss adopts the
organization's mission culture. In this the group manager and leader issued guidance and
recommendations for the implementation of modern and new technology within the company.
There are various kinds of cultures, including strength, position, etc. There may be variations in
the approach to creativity due to the form of society. In the power culture, one who takes
decisions on technologies is the leader who is responsible for handling activities. The job culture
means that different managers are given different roles. Leaders are not able to function
successfully in such a style of society. The staff of the drone company are very skilled and
trained to do their job effectively. In businesses, skilled workers are expected to make new
technologies to draw a lot of clients. Drone industry staff are diligent and willing to make new
goods and services appealing. Drone company workers are not given rest breaks as this limits
their ability to generate creative ideas and strategies. There is a good atmosphere at work in the
sense of the Forest company, where workers are encouraged to share their opinions and feelings
with leaders and managers.
Teamwork - Team organisations are an important element in the success of the work
offered to a group of people in a given period of time. Teams offer workers the ability to display
their capacity to operate successfully in communities. It also allows to communicate thoughts
and feelings on the assignment of various tasks at a given time period. Teams offer staff chances
to create new ideas when collaborating with each other. Strong team leadership can tend to

minimise staff tensions and challenges. The Drone company's business owners are interested in
developing technological technologies and commercialising processes & products. When there
are plans and strategies that assist in meeting operational targets, a good and powerful network is
available. In this organisation, teams are formed that involve 7-8 members. It is useful for
encouraging creativity in a shared climate. Employees are empowered to work in teams
efficiently to improve efficiency. Leadership, ethos and collaboration are numerous aspects that
are beneficial to the drone industry in promotion and commercialization. The corporation
formulates numerous tactics and aims to accomplish the company's corporate priorities and
objectives. Plans and plans in this industry are created by the owner or executive. In the sense of
the Drone industry, owners inside their company support the mission community. Each
department's leaders and managers provide orders and advice to work efficiently and accomplish
the organization's desired goals. In the Drone business, successful teams are formed and are able
to make new technologies and commercialise processes & products.
Leadership, ethos and collaboration are numerous aspects that are beneficial to the drone
industry in promotion and commercialization. The corporation formulates numerous tactics and
aims to accomplish the company's corporate priorities and objectives. Plans and plans in this
industry are created by the owner or executive. In the sense of the Drone industry, owners inside
their organisation support the mission community. Each department's leaders and managers
provide orders and advice to work efficiently and accomplish the organization's desired goals. In
the Drone business, successful teams are formed and are able to make new technologies and
commercialise processes & products.
TASK 2
4 P's of innovation
Innovation is referred to as the creation of new plans and concepts which are present in
the organization's facilities and goods. There is a 4 P creativity approach in the market world that
explains multiple P's that help to prepare an enticing and successful innovation. Two
philosophers named John Bessant and Joe Tidd provided the creativity blend. The company's
business owners will increase the company's market share and profits according to this blend.
Below are the 4 P's of creativity in the sense of emerging technologies implemented by the
business Drone -

Product - Corporations continue to create and develop good planning and strategy that
can help increase the company's profitability and sales. To increase the level of customer
satisfaction, product creativity within the company is important. If there is no ingenuity in the
company's product or service, their profit stagnates. There is no vision of rising the happiness of
the client. In order to produce more profits and increase benefit, it is thus concluded that firms
must develop developments in the goods and services they sell. Value is applied to the offering
in the sense of the Drone industry enterprise by supplying consumers with AI technology
service. It can assist in recruiting a lot of clients by using interactive menu tablets and robots.
Process – This includes process used by company for generating products and services
offered by the company. Drone company focuses on providing quality food and attractive
ambience to the customers. There is need of providing quality food to customers by using latest
technology as this will help in increasing customer satisfaction. The process used by this
company for doing work is using robotic technology and digital menu tablets.
Position- This requires the company's method of producing goods and services provided
by the company. The drone sector focuses on supplying consumers with fresh food and an
enticing environment. There is a need to provide consumers with better food with the use of the
new technologies, as this would help improve customer loyalty. Using robotic technologies and
interactive menu tablets is the mechanism used by this business for doing work.
This involves preserving the organisation's good public value and credibility in the marketplace.
In order to know what the needs and needs of consumers are the founders and executives of the
Drone business must perform strong and successful market research. This is useful in defining
the forms in which the business is able to provide its clients with good support. This is an
important idea for organisations to launch good and productive creativity within the enterprise. It
is concluded that the drone firm is using new robotic technologies.
Paradigm - This method is meant to deal with improvements and developments that are
implied as new ideas & innovations are introduced. It helps to create different elements used by
the company's drone team. The employees of this organisation need to know what the shift in the
company is going to be.
Innovation channels
The unforeseen-Innovations will take place spontaneously within an enterprise. This may be an
opening.

Incongruities: Creativity arises where the supply is incongruent with the need.
Business structure: The existing market structure will improve innovation opportunities. If there
is interest within the industry for creative service or product, so new characteristics are
introduced.
Necessity- If there is a requirement for anything to do business, then creativity is over.
Changing attitude: The biggest thing that produces creativity within the product or organisation
is the changing view of problems about consumers.
Innovation funnel
This is the method of creating innovative concepts and ideas that continue to produce new goods
and draw more clients. As technology evolves, companies need to continue to adapt their
procedures and services. This leaves investors happy and the company's value maximisation is
therefore done. In goods & processes for maximising customer loyalty and customer
engagement, different innovation concepts are applied.
Illustration
1: INNOVATION FUNNEL
(Source: Innovation Funnel, 2019)
Drone service is provided for managing success of the company. The leaders and
managers of this company must adopt new technologies so that they can provide good and
quality services to customers.

Assessment of opportunity- This is known as the first step in the innovation funnel.
Drone business administrators and executives are active in the evaluation of client demands and
criteria. Good facilities are provided to them and management is performed in the right way.
Ideation based on insights-This consists in formulating plans that are effective in
increasing the company's sales and earnings. The Drone company's managers and executives
perform productive business research and tactics that help maximise customer loyalty. It also
helps to grow the company's strong and strong brand reputation within the London industry.
Surveys, crowd sourcing questionnaires, focus groups, online forums, online surveys, etc are the
various approaches used by the Drone organisation to test the service offered by robots and
automated menu tablets.
.
Conceptualization- The Drone Business uses knowledge derived from people's
suggestions and opinions to develop specific concepts. Robot technology for delivering service
and using digital menu tablets is the invention used in this business.
Evaluation and Benchmarking-This step includes the practical introduction of new
concepts and ideas into the company's product. Customers offer input on the interactive menu
tablet and food service robots.
Implement or not apply- Feedback offers ample knowledge to predict the services of the
product on the market. Drone business administrators evaluate whether or not clients of this
company appreciate the new operation. Price, profitability & customer behaviour are the
numerous principles regarded by managers.
Launch- In this phase, the product is eventually released in different markets.
Development in frugal innovation
It is defined as a method for exploring a new business model that estimates the value
chain and designs a product to please customers. This is a way of encouraging the Drone
business to help organisations develop capabilities and provide better goods and services.
Frugal innovation
Frugal innovation is described as an improvement in the current product and service that
helps to maximise the company's earnings. This creativity is beneficial in improving the
company's chances of growing the company's market share.

New business trends-The drone company helps define and evaluate the company's
market opportunities for growth and development. In calculating the benefit an organisation can
gain from introducing new creative goods or services, market analysis is beneficial. The drone
group has unveiled a new robotic service to serve food and wireless tablet menus. This also tends
to expand the number of clients who optimise the work.
Tools-These are the organization's vital commodity, and organisations need to manage
the resources efficiently so that corporate priorities can be accomplished effectively. Frugal
growth helps to effectively demand money and do jobs.
Innovation Funnels- The production of new ideas, and this is important for market
models to be formulated by businesses. The drone company provides consumers with new
opportunities by using robot technologies to provide customers with food. It also uses a wireless
menu tablet to take consumer orders.
The drone organisation will have the impact by the frugal innovation because they are in
the industry where they have innovation and the they have to give the products according to the
needs of customers. They will have to analyse the performance of the organisation and attract
customers to give good products.
TASK 3
commercial funnel and new product development (NPD)
Commercial Funnel
This is recognised as a structure that companies employ in the introduction of procedures and
strategies for the use and reform of current goods and services. There are actually three funnel
levels that are used by companies. That by execution of the strategy and processes, is beneficial
for the utilisation and reform of existing goods. Three steps of this funnel are in operation.
Pricing policy-The pricing policy used by the drone organisation still makes it so that middle-
level income consumers will be affordable. It is really critical for clients to be happy so that they
can visit the firm. The company's competitiveness in the industry is thereby accomplished.
The innovation funnel is useful for recognising consumer desires and demands by improving
ways to expand business. It helps to improve brand retention and customer loyalty. The drone
company utilises numerous productive approaches to enhance its custody operation.

Process of New Product Development:
Idea Production- This suggests the development of imaginative and fresh innovations for the
company's current product and service. It offers effective services to individuals in the sense of
the drone Business by innovating their business. The managers of this business have come up
with a concept of incorporating robot technologies to provide customers with food. This
company also uses automated menu tablets for ordering food from consumers.
Idea appraisal- The incorporation into the service or product of innovative and imaginative
concepts. The green business provides its clients new technologies and creative services.
Customer satisfaction is done in this manner and this enterprise is able to make large sums of
profits.
Concept definition-The Drone business concept must be successful enough that the amount of
clients can be improved and the service and food offered by this company satisfies them.
Strategy research- The Green House company's strategy is to provide its clients with quality and
creative operation.
Product production and research- This is important for managers to evaluate whether clients
appreciate the latest robot technologies or not. The new tablets issued to customers to position
orders are successful or not.
Commercialisation- This is the final step concerning the commercial introduction of a new
product or service. Using new robot technologies and new menu tablets to provide their
customers with service is successful for this business.
Product launch-The drone industry is introducing its company with new robot technologies and
interactive menu tablets.
Innovation business case for the company and different ways of funding
The Investment Case and Management Strategy involves different steps made by an organisation
to accomplish priorities and targets in the future.
Executive summary-This is a Mayfair-based wood and good ambience company. As it provides
quality services, clients are drawn to this company.
Goal statement-"To maximise profit through increasing customer numbers."

Capital- This business includes robotic technology, AI technology, raw materials, finances,
equipment for technical development, etc.
Financial prediction- The fund needed for a bottle of robot technology is £ 50,000.
Support types-This enterprise would take funds from banks, associates and family.
Access funding for new product range:
There is requirement of money to establish new project of drone technology within market for
increasing the profit. Some of the ways by which funds can be taken are discussed below –
 Investor: These are people on whom the company can rely for bringing up new
innovative products. This company is having good reputation within local market so
investors will easily provide funds for expansing business.
 Profits: Drone company is a profit-making company and it can use its profit in
launching of new robotic technology and digital menu tablet. This new technology
will attract a lot of customers and this will result in making more sales. Thus people
will go to this company . The profit earned by this company will be used for further
expansion of business.
 Bank loan: Drone company is a good competitor in market so it has the ability to
make profits. Hence, banks are the most effective way by which this can take funds at
a reasonable interest rate. This company can take loan from any bank.
The commercial advantage for the organisation is that they are used in many places and
they are giving profits. The drones are attracting customers and they are easily purchased by
have a recording and for commercial uses like in events or in movies.
TASK 4
Evaluate the different that organisations can use for developing, retaining and protecting
knowledge and intellectual properties
Investor: There are persons on which the organisation may rely to develop new
imaginative goods. Within the local market, this company has a strong reputation, so investors
can conveniently supply funding for business expansion.

Income: The drone firm is a profit-making enterprise that will use its profits to introduce
innovative autonomous technologies and wireless menu tablets. A lot of clients will be drawn to
this new technology and this will result in further revenue. People would go to this business that
way. The benefit generated from this company will be used for future business growth.
Bank loan: The drone firm is a strong industry player, so it is willing to make money.
Therefore, banks are the most reliable way to raise funds at a fair interest rate. This business is
capable of taking loans from every bank.
The human intelligence that is used to secure, defend and cover intangible inventions is
known as intellectual property. The corporation uses different kinds of intellectual property. Any
of the above are mentioned below -
Copyrights: This is an important means to safeguard the inventions and developments
that a person has made. This is a legal concept that grants jurisdiction to the product's original
creator. Managers of the Drone industry decide in the current situation to follow this approach to
defend their recent innovation of robot technology.
Patent: This provides the owner of the company with rights and jurisdiction. The new
robot technology is proprietary to discourage any entities from taking over the invention of this
robot technology. A significant sum of money is needed for a patent and this continues for 20
years.
Trade Secrets- This is a category of intellectual property that may be in the form of
procedure, formula, design, instrument, commercial system, practise, instrument, etc.
The advantage of the copyrights, patents and trade secrets is that the organisations will
have the legal rights and they can increase the performance. The disadvantage is that it is costly
and the organisations have to spend for getting the services.
Recommendation- The best tool which is used by Drone company is patent or copyright.
This will help this company to operate effectively.
CONCLUSION
It is seen from the above topic that creativity is a very critical aspect that helps to provide
companies with progress. Monotonous service decreases customer loyalty, thereby helping to
improve customer satisfaction by innovating new technologies in products and making them
reach their goals in less time. Companies can quickly persuade more clients to use their goods
and services by adopting the new technologies. The 4 P's of innovation help to evaluate the

benefit that can be made from the use of technology and innovation. The strategic case helps to
understand what the company's goals and objectives are and how they can be done with less
time. Organizations may use various instruments and methods to create, preserve and protect
information and intellectual property, such as copyrights, patents, etc.

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