Innovation Report: Strategies for 4Com Telecommunications Company

This report provides a detailed analysis of innovation strategies, focusing on the telecommunications company 4Com. It begins by defining innovation and its importance to employees, discussing organizational vision, leadership, culture, and teamwork. The report then explores the 4Ps of innovation (product, process, position, and paradigm) and how they are applied within the company. It examines frugal innovation development and its potential application within 4Com, followed by a discussion of the benefits of the commercial funnel and its relation to new product development. The report further analyzes innovation in relation to 4Com's business case and concludes with a discussion of tools used to protect intellectual property and knowledge. The report covers various aspects of innovation, including the role of vision, leadership, and teamwork in fostering a culture of innovation within an organization. The report also presents case studies of companies like Apple and Virgin and discusses the importance of frugal innovation in providing value to customers.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Meaning and importance of innovation to employees.....................................................1
P2: Organisational vision, leadership,culture and teamwork related with innovation...........2
TASK 2............................................................................................................................................3
P3: 4ps of innovation that are used in innovation funnel.......................................................3
P4: Frugal innovation development can be used by 4Com plc..............................................5
TASK 3............................................................................................................................................6
P5: Benefit of commercial funnel and it application related with NDP.................................6
P6: Innovation in relation to business case of 4Com.............................................................8
TASK 4............................................................................................................................................9
P7: Tools used to protect intellectual property right and knowledge.....................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation is said to be new thought or product that conclude from individual ideas. It
includes application of information, imagination and various value from resources and includes
all processes by which fresh ideas are originated and transformed into useful product. It is
important for every small and medium size business organisation to form new curiosity into their
product and services so that customers will get new taste and attitude in favour of buying that
products (Drucker, 2014).
The product is one that satisfied demand of customers through its quality and features
that are available into that particular products. There are various tools and techniques that are
used by companies in order to make their product more attractive and innovative. Under this
project has different aspect that are require to be contained under the product it consist of
information of 4ps that are useful in serving innovation. Commercial frugal is important in
delivering best quality product to their respective customers.
TASK 1
P1: Meaning and importance of innovation to employees
4Com company is public limited company which is dealing in telecommunication
activities. Its products and services consists of digital headsets, call recording and other services.
They are planning to make their products more specific for people to transfer their information
with one click. With the latest innovation in their technology they are planning to reach into
international market to increase market share as well as efficiency.
A company can modify their business through making innovation in their product
characteristic and quality because innovation is developed through creativity. The changes in
products according to their usefulness and demand among the customer its objectives can be
decided. It will help to achieve competitive advantages over other products of company. 4Com is
one of the best example in the field of innovation that prove to be successful in delivering
superior quality products to their customers. As it was involve in electronic product like phone,
broadband and other electronic devices. In keeping cultural aspect in mind to make innovation as
more appropriate aspect of company in transforming new ideas in producing best outcome by
their product and services (Stokes, 2011). Some of the most importance regarding innovation are
as follows:
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Resources are utilised in proper manner: Resource are available in limited quantity so
company are trying to cover most of their resources in producing best quality of product and also
keep in mind to control their wastages such as manpower, material, machine and money.
Increase in production capacity: The main objective of 4com company is to increase their
productivity through innovative ideas and implementation of new techniques that are require in
development of product and services. All those factors are taken into consideration that would
help in maximising profitability as well as productivity at the same point of time.
Build better communication system: innovation lead to develop more effective
communication system among each level of department so that positive results are developed
(Tebbe, 2011). By which both individual as well as company growth and development are
increase. It will lead to boost the moral and motivation between employees and management.
Provide safe and secure atmosphere: employees should work in proper manner only if
they get more comfortable and secure environment at the workplace. So 4com company is trying
to keep all those aspects which will lead to low down the workers performance they reduce the
chance of accidents.
Comparison among innovation and invention:
Invention Innovation
It is said to be novel goods and device, process
kind of concept.
It is said to be new and better solution that are
required under the current market.
It requires proper knowledge and financial
assistance.
It requires technical knowledge, trends and
financial support.
Examples are: Invention of electricity and
telephone etc.
Examples are: I phone and tablets etc.
P2: Organisational vision, leadership,culture and teamwork related with innovation
In any business concern various department are to be considered that would help to
develop culture, vision and teamwork in an organisation. In case of 4com company they are
trying to focus all those areas which are more appropriate in delivering best quality of services to
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their customers. It is important for the company to develop and control different activities that
are going to be implement by company in their manufacturing process (Huizingh, 2011).
Role of vision: Visions of a company are already fixed according to their plan set by
4com. Vision of the company are pre planned that they want to achieve it in coming future time.
Vision leads to evolution of innovation and development in relation to work and production of
product and services. To maximise more customers toward their product the company need to
implement a set vision that in this much time period I would be able to reached at that
destination.
Leadership: A leader is the one that involve in guiding and supporting their team in right
directions in order to achieve company goals and objectives. They are responsible for utilising
there personal skills in the development of product so that company would be able to maximise
their profit. Employees will feel motivated in only that situation in which there are guided in
right direct by only one superior.
Role of culture: It has been observed that employees are spending more than 40 hours at
their workplace as from this organizational cultural affect their both personal as well as
professional lives. It is basically consist of beliefs, participles and values that an individual carry
in an organisation. 4Com company is trying to maintain their relation by provide a bit leverage to
their employees so that can't feel work load on there shoulder.
Team work: It has been seen in most of the company that individual persons can not
work more effectively as that it work in group or a team. It will help them company to minimise
there cost and achieve their target in more appropriate manner. As technology has change the
entire scenario of work division because as it was seen in mentioned case studies Apple is
working as a team so that they are producing more appropriate product by finishing old music
player into small size music player to get maximum advantages as team unit (Sawyer, 2011).
TASK 2
P3: 4ps of innovation that are used in innovation funnel
In order to fulfil customer needs and wants companies are using appropriate innovative
techniques to develop product and services. To make the product more effective company are
using 4ps of innovation that are very useful in attain maximum attention of the customers. As
mentioned under case study about Apple Inc. and Virgin. By using 4 ps of innovation in the
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business operation in order to achieve maximum profit through capturing major segment those
are interest in buying their product in most economical manner (Huberman and Miles, 2013).
Those are explained underneath:
 Product: A product is any thing that satisfied customer needs and wants. It can be
tangible that are produce by 4com company to it maximum customers in relation to
satisfied their needs and wants. As because the main objective the company is to attain its
objectives that will only be possible in those circumstance in which if the product offered
to public are of good quality. In relation of 4 com they grab the opportunity when they
saw demand of cell phone among customers they quickly innovated such kind of product
and delivered directly to its customers. In order to make their product more effective they
are attracting maximum customers without making much of promotion. By using
attractive design, size an shape of phones.
 Process: It is related with manufacturing process that 4com company by using its
resources like finance, manpower, material and technology. To deliver product to its
customers the company need to apply most appropriate technology in their operations
regarding producing phones and other services. It is related with maximising profitability
of the company. Automation in production process of business sets is perfect example of
innovation. Like in case of I phone which are provided by Apple co.
 Position: It refers as promotion aspects that virgin company are using in their business
operations. There are various mode through which company can expand their product
into other part of country. Under the 4com company best media used for promotion of
their products are printed media and digital media for advertisement of their goods and
services. Rebranding of products are the main reason by which companies can attain their
aims and objectives. Such techniques are used by Virgin group to make there product
more attractive towards other company's.
 Paradigm: Under this process different kind of innovative products are offered to
customers to attract them toward their brand. Just like in case of Apple Inc they are
known for providing best iPhone to their customers that are developed through new ideas
(Leeuwis, 2013). Under 4com company the techniques used by them that carry all those
features under one phone that would satisfied the customers needs and wants.
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Above mentioned 4ps of innovation that are important for the growth of company that
has to be utilised in most appropriate manner in order to gain maximum advantages.
Innovation Funnel: The main objectives of any goods and services is to get an ideas from the
concept to reality by transforming a quality product that can fulfil the market need in an
economical and production form. It is used to create innovation funnel starts with planning.
Under this process results are fully depend upon the success of a product. By using above ps of
innovation company can build a huge market position in the market.
P4: Frugal innovation development can be used by 4Com plc
In order to achieve aims and objectives frugal innovation bring products and services
within the range of more needy and emerging middle class customers. It is done through cost
cutting while measure user values, frugal innovation help to create maximum opportunity for
new business models that are well disrupt innovation techniques used in entire economies. Most
of the critics argue that frugal innovations will impact with market economy exploitation and
justice. It will help to design new products and create value chain segment in relation to serve
customers those are facing problem of inexpensive constraints to sustain in future (Boudreau and
Lakhani, 2013). In other words it can said to be reducing different non essential features of
durable goods such as car, phone in order to sell it into global market.
It consist of well planned or future use resources that are exist in order to make impressive
market. Frugal innovation help to provide monitory answer with the help of different resources.
In case of 4com company it is use as important segment those are discuss below:
innovative features of innovation:
To satisfy customer needs and wants can only be satisfied by using latest and superior
quality of technology that would help the company to develop their business and increase the
chance of growth in local as well as international market. There are various tools and techniques
available with the company that can be use in order to get more desire outcome. Some of the
important traits of innovation are used by the company to increase profit and market share for the
satisfaction of individual as well as their customers. In the global context customer are using
more experiences of electronic gadgets because of digital transformation of economy. Like for
example that are so many case like customers wants maximum feature phone that are delivered
by Apple company. They are using it as brand development and to form a positive attitude in the
market.
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Cost of production is reduce: companies are investing more capital in delivering more
attractive products to its customers. They are giving more weight-age in their quality and
working. Cost of production can be eliminated if the company is using frugal innovation in more
positive manner to generate more appropriate outcome (Amit and Zott, 2012). With the reduction
in cost chance of phone purchasing can be increase. Middle class people can easily be able to
buy iPhones.
Maximising product line: Product line is basically associated with a life cycle. The four
stages of products like introduction, growth, maturity and decline. Increase in product line it
means that company need to generate maximum sales and by maintain operational efficiency so
that company gross margin should remain strong and positive. As it said to be that kind of
product those are categories from various components that are related with IT services or any
other core business sectors. Every phone quality is decline at some stages. Like in case of Apple
inc. earlier iPhone are not so favourable to customers because they need current features which
are available in latest edition of phones.
Above mentioned features can be useful for Apple company in their product to make it
more effective and applicable for person while using I phones.
TASK 3
P5: Benefit of commercial funnel and it application related with NDP
Commercialised funnel is a kind of techniques which is used by company to develop and
produce new product in local market. The process is divided into various stages from the starting
introduction of merchandise through its collective production and adoption. In 4com company
which is associated with production of phone system, internet and broadband, calls ad other line
of segment (Rosenbusch, Brinckmann and Bausch, 2011). All those product are manufactured on
the demand of customer by identify their requirement. There are various processes of
commercialisation:
 Imagining: It require that business should develop a plan regarding how to supply
products in the market and evaluate different obstacle those are coming in the way of
success.
 Incubating: Those loop holes that are originated from various feedback that are come
from customers during introduction of new product in the market.
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 Demonstrating: It means product are used in market on trail basis so that to know the
reactions of various customers regarding that product.
 Promoting: after all those survey are in positive manner then to promote it in every part
of the country is the big challenge come in front of concern department.
 Sustaining: At last the planning is done to make that product last long for future time
being.
Importance of commercial funnel:
It is considered as one of the effective marketing activities that helps company to increase
customer awarness and develop demand for a product or services. Like in case of Apple
computers they are focues to give effective quality and trust to create positive impacts on the
mind of customers. The objective of an effective sales is to improve the conversion rate at every
level of commerical funnel so that more customers can make it through the entire funnel.
Application of NDP:
It consist of various phased that are required under the commercial funnel:
 Idea generation: Any business will get success because of ideas used by the company
through analysing external and internal strength and weakness and current marketing
situation of the company. It will help to provide direction to their businesses.
 Idea screening: Under this stages where various ideas those are given as a concrete sharp
to those above ideas and to reduce unsuitable ideas. Under this process rejection are
mostly possible. It is based on certain screening process.
 Development and testing: If above stages are cleared then the next process is to
identified internal department to take suggestion this plan is suitable in coming tends if
all goes in right direction then reviews are taken as testing process (Mowery, Nelson
Sampat and Ziedonis, 2015).
 Business analysis: Summarising all those above process together to evaluate new
products and services those are profitable for the company.
 Product development: The ideas is come in development phase were goods and services
are transfer by each department to the assembling areas.
 Test marketing: These are said to be prototype goods that are carried were proposed
marketing plan.
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 Commercialisation: Under this process a product is ready to go in the market. After
testing and development of product it has decided to commercialise it into various
location (Ariga and et. al., 2013).
 Launch: It is the last stage in new development process in which every customers are
ready to use the products.
P6: Innovation in relation to business case of 4Com
In order to maximise the profitability of the business every business would need new
ideas and techniques of innovation those are required to implement under their production
process. 4Com company is developed under 1999 which is develop of small medium of telecom
sectors. Different cases are found which are related with identification of risk associated with
new product. Some of the steps are followed:
 Introduction: It is based on various concept and features that a product should carry in
case it implement for the first time in the market. It consist of a those aspect that are
based on innovative ideas and modification that are required to be followed by coming in
future (Difference Between Invention and Innovation. 2016).
 Executive Summary: It consist of detail summary of all projects that are based on
document that carry capital requirement and persons involve under this project. If 4com
company is going to adopt any new things are also be covered under this report.
 Subjective: The main objectives of this business case is to collect all corporate customers
those are going to use the product of 4com company.
 Statement: It should be simple and easy to understand to each and every persons those
are working under this project plan to fulfil the customer taste.
 Requirement of innovation: Under this business plan a product is identified and
according to the plan it is designed.
 Customer survey: This techniques are most widely used to get more customers those are
going to use that products (Gordon, 2012).
 Requirement of capital: Source of finance are important aspect of any business which
will provide complete shape to their growth and development.
 Profit estimation: The final step in to forecast the future profit estimation that are fixed
by the company.
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TASK 4
P7: Tools used to protect intellectual property right and knowledge
In any business organisation it is important to have proper knowledge and god
communicative management that are used in case of Apple Inc. this company is using its
technology in creating iPod. However, virgin company is the huge example of are looking to
protect their intellectual property right (Lundvall and et. al., 2011). Both company are using
various methods which are used to protect their product safety and security. Company must
analyse those sources which are based on full knowledge and their employees retention. There
are patent, trade mark and copyright those are use by the company. There is huge chance of
getting these hamper by some other persons. So company should adopt retention strategies in
relation to protect their rights. Some of them are:
 Development of clean performance management chart: It is used to evaluate well planned
chart that consist of business objective which are to be followed by each and every
employees.
 Create growth opportunity: Employees of organisation are in regular search of new job
opportunity that are explore in order to do something. This can be the most appropriate
strategies which can be used by the company to retain their right (Strayer, 2012).
 Quick employee development: This can be the most critical kind of training that is need
to be delivered new job skills to reimbursement to protect their IPR those are related with
manufacturing process.
 Help from professionals: So many lawyers, accountants are person who guide to an
organisation in case of retaining and safeguarding there IPR. They have complete
information of every law suits that are based on international level. Apple company is
paying maximum amount of fees to them in order to guide their business.
 Know your right: If 4com plc wants to do innovation in their products then they need to
have parent right as soon as possible because other companies in industries may have the
option to grab the opportunity. In case of Apple they has won many of cases related with
patent right so that there products cannot be copyrights.
 Trademark: It is sign or logo of an organisation through there products can be
identified. The main benefits of trademarks is that it provide legal power to an
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organisation, no other company can use it. Geeting for logo may cost company a
sufficient amount of 12000 pound but this will help them to gain a effective image.
 Patent: They have formulated a business phone whcih has a uniques featuere and quality
of video calling facilities. It is very common feature but this era has not been seen such
kind of innovation in business phones. Company pay more than 60000 pounds to protect
their features by applying legal norms.
CONCLUSION
From above mentioned project report it has been concluded that innovation is based on
creativity which are is used to change the company thinking ability to develop new brands and
product those are able to satisfy customer needs and wants. Under this project 4com company
how they are use innovative skill in their business to make attractive products for the customers.
Commercial funnel and importance of protecting intellectual property right in the business. The
4ps of innovation are how much helpful in changing product specification in the coming future
trends. Overall basis of the project are design with using appropriate tools and techniques that are
mentioned under this project report.
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