Comprehensive Innovation and Business Development Report: 4Com Ltd

This report provides a detailed analysis of innovation and its implementation within 4Com Ltd. It begins by differentiating between innovation and invention, highlighting their significance in a competitive business environment. The report explores key aspects such as mission, vision, leadership, and how they contribute to fostering an innovative culture. It then delves into the innovation funnel and the 4Ps of innovation, providing practical examples relevant to 4Com Ltd. The report also discusses frugal innovation, its growth, and its application in the company. Furthermore, it examines the importance of the commercial funnel, new product development (NPD), and ways to secure funding for innovation projects. The report concludes with a discussion on protecting intellectual property and its relevance in the context of business development.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
P1 Innovation and invention.......................................................................................................1
P2 Mission, vision, leadership and innovation............................................................................2
TASK 2............................................................................................................................................3
P3 Innovation funnel and 4P's of Innovation..............................................................................3
P4 Growth in frugal innovation and use of same in 4com..........................................................5
TASK 3............................................................................................................................................6
P5 Importance of commercial funnel and NPD..........................................................................6
P6 Innovation case including ways to access funding................................................................7
TASK 4............................................................................................................................................8
P7 Tools to protect intellectual property.....................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation is a tool through which change in the existing scale of business can be
experienced. As the competition is increasing at a high pace it becomes necessary to make
continue changes in the working so that the effectiveness of the business can be maintained. It is
a huge concept which is entirely different form that of invention in which a complete new
product or technology is introduced (Davila, Epstein and Shelton, 2012). 4Com is a networking
company which is providing its services in telephone industry since many years. Following
report will discuss the various concept of alteration and invention as how they are being utilised
in the company. Given text will show the comparison between both the terms and will further
give knowledge about how innovation is an important measure to bring development in 4com
Ltd.
TASK 1
P1 Innovation and invention
4Com limited is a big brand that is dealing in the networks since 1999. There are various
departments which are part of this and needs to be operated effectively. Other than this there are
other companies also which are dealing in the same business hence competition is tough in this
industry. With the help of innovation techniques various advantages are enjoyed by the mention
organisation. It is mostly observed that both innovation and invention are similar terms but it is
not true as there is big difference between both the concepts.
Comparison
Innovation Invention
It is process through which modification in the
existing code of conduct is made so that
efficiency of same resources are increased.
It is entirely a different term as when invention
is done a new product or technology is
launched which is wide concept.
It helps in increasing the value of existing
products
It brings different results at work place
It require less technical and scientific skills. It is a complex process hence required more
skills to bring change.
It is done mostly after evaluating the internal It is done after the need realised in the external
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surroundings of work place. surroundings.
It require less investment as change in the
existing product or technology is done.
It require higher cost of investment as more
funds are are require to launch an entirely
different concept.
Different advantages which are enjoyed by company with the help of innovation are given
below:
Increment in capacities – New improvement inside the cited organisation brings noticeable
change in the existing working condition. With the help of this same resources gave better
quantity and quality output which helps in expansion of operation scale.
Creates abilities – Vast headway inside business supports in making agents aptitudes. This
assist labourers in performing practices suitably and capably which moreover benefits 4com
particularly (Boudreau and Lakhani, 2013).
Expands learning – Workers of affiliation are direct benefited by progressions which happens.
New advancement inside huge business at certain time breaks reinforces workforce in extending
there figuring out how to perform apportioned activities.
Builds efficiency – As determine above progression supports delegates in making there aptitudes
and limits with increase in capacities to perform. This components rose in view of improvement
particularly causes individuals of refereed to relationship in growing gainfulness.
Apple has continuously worked on bring innovation and also invention in products and
technology as it is launching different series of its product which has always a new feature in it.
P2 Mission, vision, leadership and innovation
With a specific end goal to accomplish the desired objective refereed to organization it is
necessary that mission and vision is set in advance so that planning is done according to it .
Diverse techniques should be used by the administration in regards to change and promoting so
association can build up the way of life of embracing change. Discussed in the following matter
are the points of interest of how the leadership body can shape the advancement with the goal
that mission and culture is promoted within the association.
Vision – It is a defilement of the considerable number of attempt taken to set the working criteria
for the organisation. Pioneers by communicating the vision of the organization clears the
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objectives and goals that should have been accomplished after utilising the given resourses.
Techniques need to be defined for similar with the goal that normal outcomes are watched for
which commercialization is additionally critical. The vision of 4com is clear as it wants to
establish itself as the bes networking company in its industry. By bringing innovation in the
present code of conduct it can achieve its goals effectively.
Authority – So as to make development conceivable in the association it is vital that every one
of the individuals wills identity affected by change in the business situation are prepared to
acknowledge the same. It is a hard duty as once the representatives create propensity for playing
out their errand in a specific way they oppose to modification. Thus to inspire them is vital which
can be done by communicating the results of innovation (Johnstone, Haščič and Popp, 2010).
Cooperation – Cited association inevitably has to continue its operations by maintaining a
healthy environment in the enterprise so that group efforts can bring desired results. In order to
implement innovation it is required that knowledge about change is given to all on time so that
no individual develop negative feeling of being ignored by management.
Culture – Environment of the business element likewise contributes in moulding the systems for
change and commercialisation. There are different options that are accessible with the
administration and hence as indicated by the abilities of apparent workers judgement for picking
the procedure ought to be finished (Amit and Zott, 2012). If the organisation culture is
innovative than it will not resist to use the new technology and will support the management with
the current need of adopting to what is new.
TASK 2
P3 Innovation funnel and 4P's of Innovation
Changes can not be classified as positive always as once in a while same may even
prompt abatement in the aggregate production. Concept of 4Ps was introduced by John Bessant
and Joe Tidd together in regard to use of alteration. It incorporates the different elements which
may prompt increment in the benefit if variation is done in the working of organisation
accordingly. Every section which may contribute in the advancement of business are given
beneath:
1. Product model – 4com constrained is managing in an item which requests greatest
changes as progression in innovation is experienced on non-stop premise. In this way
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organization should work towards making modifications in their current components so it
can pull in an ever increasing number of clients which will come about into increment in
all out deals. Individuals welcome the labour of administration when attempts are taken
to get something new in the market as they than gets more alternatives. For instance,
refereed to organization can dispatch their fresh systems administration sites which is
equipped for serving more clients at same time. Along these changes companies picture
likewise increases and extension can be observed (Smith, Voß and Grin, 2010).
2. Process advancement – It is watched that at whatever point another business is begun a
set example of doing work is taken after. However, it is exceptionally vital that constant
changes in the current set of principles ought to be done as such that aggregate cost of
generation and time utilization can be controlled. At the point when administration take
utilization of different techniques for playing out a similar assignment they encounter
which strategy is best reasonable and equipped for giving greatest outcomes to the
organization. Process is the means through which the ultimate commodity experience to
be displayed as a yield before the clients. Results to be named as viable it is vital that
base wastage of each is measured so that it can be judged which course of action gives
the effective results. This is possible only when each method is tried once. Along these
lines business can get the upside of delivering more at decreased cost and than
subsequently the same can be used for more profitable reason (Rosenbusch, Brinckmann
and Bausch, 2011).
3. Position change – In order to carry out the operations of daily routine different assets are
utilised which are placed in the boundaries of given organisation. This model refers to the
concept of repositioning of the different material with a view of increasing the total
output. By changing the present places of different equipments there are changes that
total time required to deliver the output gets reduced. Hence this way total productivity
can be increased as quantity of output will be raised. Result of this will be rise in sales
and therefore profitability will be increased similarly.
4. Paradigm – It is the final model of innovation . It refers to change in organisation in
respect to work which is done in the business. This varies from company to company.
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Innovation funnel is an arrangement of various process that should be followed with a
specific end goal to build up an item. The centre intention of refereed to association is to gain
benefit subsequently this instrument helps administration in growing new thoughts so advertise
requirements can be better satisfied. With the help of this channel the entire thoughts are refined
so administration can reach to the best quality choices. The utilization of innovation funnel is
given below:
1. Aides in detecting the new open doors
2. Advances knowledge – based considering
3. Idea based considering
4. Help with assessing different choices and furthermore advances the system of using set
standards (benchmarks).
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Illustration 1: 4Ps of INNOVATION

Above given figure indicates how different thoughts experience diverse stages and
assessment at each level is done viably. By following the entire procedure administration reach
to the best option which can be used to expand the aggregate size of existing scope of 4com
P4 Growth in frugal innovation and use of same in 4com
It is an unexpected idea in comparison to that of advancement. It aids in making items
accessible to centre and beneath poverty line clients so they can use the administrations at
decreased cost. By embracing this technique organization can offer imaginative items as
circumstances are given to the administration by cutting the aggregate cost of business. It is used
by putting resources into the innovative work group of the business with the goal that it can give
viable thoughts to the association as in what all way the size of existing advisory groups should
be possible. Add up to quality is enhanced by increasing the value of the offerings and as less
venture is accomplished for the alterations it turns out to be anything but difficult to circulate the
last yield as aggregate client for such wares are intensely more (Gordon, 2012). There were
different frugal innovations which helped Apple in growing and saving much cost. For instance,
at the early stages when I phone designing process was going on Steve rejected the proposal in
which the size of his product was thick. It than helped the same organisation in saving much of
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Illustration 2: Innovation funnel

the shipping cost. Diverse improvements that occurred with regards to the discussed concept
are:
Extra attributes to existing commodities – With the assistance of this technique organization
can get changes in their items which are fit for giving better offices to the clients.
Diminished cost of delivering merchandise – Through this procedure the working group can
bring a similar yield at lessened cost which help in keeping up the base cost of different
administrations.
Better offices from same thing – This idea of reusing help nature in taking different uses from
similar items which helped in using a specific product to the most extreme degree.
Reusing of same thing – When an item winds up noticeably outdated organizations with the
usage of inventive thoughts can take similar items being used with various application.
Advancement through this aided in decreasing the aggregate weight from the general assets
TASK 3
P5 Importance of commercial funnel and NPD
As the aggregate business of refereed organization experiences increment by utilizing the
method of popularized channel it has extraordinary esteem. Through this administration is given
the way toward making modification in the present administrations with the goal that viable
outcomes can be accomplished. Following are the diverse significance of this idea which can not
be dispensed from cited organisation:
Directing the projects identified with explore – keeping in mind the end goal to make
modifications it is vital that all the required data are assembled so in like manner administration
can design their future action. With the assistance of business channel this information can be
given totally (Strayer, 2012).
Increment in standards – When generation is finished utilizing the given idea last yield is of
better quality and can give more fulfilment to the purchasers.
Brand esteem – Apart from the monetary preferences a similar idea likewise encourages 4com
limited to build their goodwill in the market.
Productivity – When clients get great nature of administrations their request gets expanded.
Along these lines business can build their aggregate business and can move towards
development (Baldwin, and Von Hippel, 2011).
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Keep away from wastage – When an appropriate set example is streamed to complete the
operation misfortune can be decreased of assets as distribution of each is finished with taking
much care.
Moderate cost – As the creation is finished with keeping the control over aggregate cost
administration is fit for offering the items at an extremely decreased cost. This expansion the
acquiring energy of different clients.
So as to catch new customers 4com constrained requirements to take after a set procedure
for the improvement of their current items which is given stride astute underneath:
 Advancement of imaginative thoughts – to accompany the best option in the market
organization needs to direct compelling exploration of the market with the goal that novel
and most reasonable choice can be chose.
 Assessment of choices – Once through the procedure of examination and improvement
organization gets every single accessible choice there is have to do the screening of every
with the goal that it can be presumed what alternative offers most extreme favourable
position to the association.
 Checking and advancement – At this stage every one of the impediments that may
happen amid the improvement procedure are recognized with the goal that future issues
can be dispensed with (Jiménez-Jiménez, and Sanz-Valle, 2011).
 Ware improvement – After the above strides are finished phase of down to earth
application is accomplished. This is the stage where improvements are made to offer in
showcase.
P6 Innovation case including ways to access funding
The refereed association was created to advance the business with the assistance of
development strategies as new items were propelled in the market. Given beneath is a case of
different basics steps that guarantee inventiveness:
Problems faced by the given organisation:
 Excess of external competition
 Increase in the demand in market
 developed awareness among the customers
Goals of 4com
 To develop in the long run
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 Increase the customer satisfaction
 Use of latest technology to minimise wastage and increase profitability.
Different solutions to distinct problems
 Official rundown – It is an association which make everything conceivable all over the
place. By doing compelling work in the advanced market it was fruitful in making
upgrades in the systems administration.
 Prerequisite – 4com limited give the office of correspondence to its different customers.
Thusly individuals got the upside of web benefits and convey at unmistakable areas by
sitting at one place.
 Arrangement – Cited organization gave the office of quick web systems to their clients
even in the far areas which enhanced its image picture as it were (Manso, 2011).
This organization is taking help of different measures to guarantee development like:
 Screening – All the arrangements are tried that climate they are basically conceivable to
accomplish or not.
 Testing – Management chose design is tried before making it on activity to check its
legitimacy and reliability.
 Improvement of set of accepted rules – Strategies are received so as to accomplish the
coveted plans and targets.
TASK 4
P7 Tools to protect intellectual property
To secure the different thoughts and methods of refereed organization it is vital to utilize
the different apparatuses so their enterprise does not get influenced. Given underneath is the
detail of different areas and laws that can be used to give security to the business;
 Licenses – They are acquired by the diverse organizations and once it is gotten by a
specific organization it can not be replicated by some other firm. On the off chance that it
is discovered that some other establishment has duplicated the licenses of another nation
than all things considered organization to blame can make the lawful move against the
association to blame (Boschma and Frenken, 2010).
 Copyright – Once a specific organization take a copyright of any capacity than it winds
up noticeably lawful for it to utilize the same and it can not be used by another unit. It can
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not be seen but rather expert can be delighted in by the organization having the duplicate
right.
 Trademarks – Each enterprise has their own diverse images which turns into a method
of distinguishing proof for the same. At whatever point a trademark is chosen
organization needs to do the enlistment of it as without getting enrolled it has no
legitimate esteem. Subsequent to making it perceive under the steady gaze of the law no
other organization can utilize a similar outline keeping in mind the end goal to advance
their business. It is watched ordinarily that individuals don't perceive organization by
their name yet by its trademark accordingly it is critical that it ought to be appealing and
clear to the customers (Chesbrough, 2010).
Other than these there are some other ways too which can be utilised in order protect the
invention done by the company. Publication will be done after 18 months of filing the formal
requirements. Suggestions can be taken from IP professionals who can give more effective ideas
of which applications can be used to protect the tangible assets of the company. Apart from this
only those inventions which are new should be tried to get under the own patent.
CONCLUSION
From above study it can be summarised that innovation is of vital importance to 4com
company as its total business got expanded after implementation of the alternative strategies.
Various concepts related to same are discussed in detail which shows how efficiency of
operations is increased to a great level by developing the utility of products. Later the given text
highlighted the difference between invention and innovation which shows how both are an
entirely two different concepts. Frugal and funnel are also explained which shows how they help
management in taking corrective actions and increasing the value of existing technology. Lastly,
the report concluded with various tools which helps the given organisation in protecting data and
getting the legal right over product name and symbol.
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