Analyzing Innovation and Commercialization in Agilitas IT Solutions

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INNOVATION AND
COMMERCIALIZATION
1

Table of Contents
introduction...........................................................................................................................................4
overview of the company......................................................................................................................5
lo1..........................................................................................................................................................6
p1 explain innovation and determine its importance to organisations in comparison with invention
..........................................................................................................................................................6
p2 explain how organisational vision, leadership, culture and teamwork can shape innovation and
commercialisation.............................................................................................................................8
m1: different sources of innovation and how organisations can substitute and develop an
environment and culture of innovation...............................................................................9
lo2.......................................................................................................................................... 11
p3 explain the 4ps of innovation and explain the use of the innovation funnel to examine
and shape innovative ideas................................................................................................11
p4 explain developments in frugal innovation and provide examples of how it is used in an
organisational context........................................................................................................13
m2 innovation funnel in agilitas it solutions.......................................................................14
m3 role of frugal innovation in an organisational context.................................................15
lo3.......................................................................................................................................... 16
p5 importance of the commercial funnel and the application of new product development
........................................................................................................................................... 16
p6 innovation business case for an organisation, including ways to access funding..........17
m4 a detailed innovation business case.............................................................................18
lo4.......................................................................................................................................... 19
p7 evaluate the different tools that organisations can use to develop, retain and protect
knowledge and intellectual property.................................................................................19
conclusion.............................................................................................................................. 21
references.............................................................................................................................. 22
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INTRODUCTION
Innovation converts the good ideas into the facilities and products with the aid of high value
to the consumer and the customers. It is also defined as the application and execution of
the solution that can help to fulfill the needs of the consumers and customers. It is the
development and creation of new ways and methods for the improvement of the existing
methods and ways. This report provides deep insights about the innovation concept with
the significance in terms of vision, culture, leadership and teamwork that can shape
innovation and commercialization. This assignment will also throw light on the different
types of innovation. Further, there is also the discussion for the process need to
commercialize the innovation in the organization. At last he there is the evaluation of a
range of different methods for the idea protection with their limitations and benefits.
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OVERVIEW OF THE COMPANY
The report is prepared on t innovation and commercialization of the Agilitas IT solutions that
seeks to provide the flexible and scalable inventory solutions. It was founded in 1980
with .The company have grown after the supervision and ownership of Acal plc and supplies
the inventory solutions and technical services (AGILITAS, 2018).
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LO1
P1 EXPLAIN INNOVATION AND DETERMINE ITS IMPORTANCE TO
ORGANISATIONS IN COMPARISON WITH INVENTION
Innovation: It includes the application of imagination, ideas and the information for deriving
the high value from the resources. It is the process of transforming the ideas into the goods
and services and creates high value for the customers with their need satisfaction. Agilitas IT
solution wants to provide the innovative services in the organization with the assistance of
the innovative services and ideas.
Invention: It is the procedure to act and create something new with the help of innovation
and this has not come before. It can be also defined as the implication of the new idea for
the production of new science and technology. It also satisfies the needs of the customers
and it must be in an economical manner (Drucker, 2014).
Significance of innovation
It is important and significant for every business organization for face the high competition
in the market and it can be only possible with the help of the development of the good
quality products and making innovation in the existing products of the market. It ultimately
brings profit and sales in the organization. Agilitas also has accepted the innovation in their
services and that serves to increase the base of the customers (Berry and Berry, 2018).
Difference between invention and innovation
INNOVATION INVENTION
Innovation includes the conversion of new
ideas for the development of the new
products and modifies the current product
It is defined as the process or product
introduction for the growth of the product
that does not exist before
It also uses the marketing skills and technical
aspects for bringing the change in the
services
It requires specific and particular technical
skills and there is also a requirement of
scientific skills in some of the cases.
It also includes the practical implication of
procedure and process (Drucker, 2014).
It also helps in the development of the new
idea for the creation of a theory
It can be executed and applied in business It is associated with only the research and
development team of the organization
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It requires the creative ability and skills It requires technical capability and skills
(Berry and Berry, 2018).
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P2 EXPLAIN HOW ORGANISATIONAL VISION, LEADERSHIP, CULTURE AND
TEAMWORK CAN SHAPE INNOVATION AND COMMERCIALISATION.
The employees and staff need to work according to the organizational vision, mission and
objectives. The culture and leadership are the most important aspects that influence the
employee and individual within the organization.
Vision: Each organization works with its mission and vision that depicts the organization to
work accordingly. The vision of the Agilitas IT solutions seeks to attain the goals of the
organization in an innovative manner and provides services with most of the innovative
way. They focus on the continuous improvement and enhancement of the services for their
customers.
Leadership: Leadership is the process and style accepted by the leaders and manager of the
Agilitas IT solutions for the management of the workforce. The style that is followed by the
Agilitas IT aims and focuses on the development and enhancement of the participation of
the employees that can bring innovation in the organization (Bogers, et al. 2017). The
motivation of the leaders to their team for the development of the idea and providing the
solution for the same is the necessary aspects that must follow by the leaders.
Culture: The culture of the organization also has an effect on bringing innovation in the
organization. Agilitas IT solutions are into shaping and deriving the innovation within the
organization. It motivates staff for doing the work in a more innovative manner that can
provide better solutions and boost organizational performance.
Teamwork: The employee engagements are very beneficial for the organization as it brings
new ideas in the organization. The staff works with interval motivation with a sense of
loyalty and brotherhood. The teamwork is key to the success of the organization. Teamwork
brings new ideas and helps to provide the solutions that come in the organization (Bogers et
al. 2018).
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M1: DIFFERENT SOURCES OF INNOVATION AND HOW ORGANISATIONS CAN
SUBSTITUTE AND DEVELOP AN ENVIRONMENT AND CULTURE OF
INNOVATION.
Below are the different innovation sources that can help Agilitas IT solutions for the
development and improvement of the organization and bringing the organization at a new
level. The seven sources of innovative opportunity were given by Peter Drucker and which
are as follows:
Figure 1: Sources of innovation
Source: Rogers et al. 2017
The unexpected: The market provides various opportunities for the organization. The
manager of the organization always looks for opportunities in the market. There should be a
proper and continuous study of the market. It can include the analysis of the demand for
the product in the market etc (Bogers et al. 2017).
The incongruity: There is an incongruity between the act that must be done and others
must not be done. This is a key for the development of the successful business but it proves
to be tricky. It can drive the innovation in the organization and bring the organization at the
level of success. Example: One of the major and most places to look congruity are the
customers as the unmet wants and complaints are all aspects that must be fulfilled and met.
Need of process: It involves the identification of the weak spots and flaws of the process of
the company and correcting them. This is a result that is the task-oriented and that depicts
that the innovation sources and methods of doing business (PITCHER, 2018).
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SOURCES
OF
INNOVAT
ION
The
Unexpec
ted Incongr
uities
Process
need
Changes in
Industry
and Market
Structures
Changes
in
Percepti
on
New
knowled
ge
Demogra
phics

Change in the market structure and industry: This kind of changes can in the organization
for a longer time with technological development. The leaders must be aware and need to
keep an eye on all type of changes that can bring the changes in the form of innovation in
the organization.
Changes in the perception: With the passage of time the perception and people changes.
The way they view their life and they feel about the things can also be modified with the
time and companies pays attention for the same.
Demographics: There are continuous changes in the income level of the individual, age
ranges, education and tastes of consumers. The organization need to put the focus on this
kind of changes on a continuous basis.
New knowledge: The new opportunities increase with the increasing the speed of
revolution in technology. The innovation in technology and idea can be the way and method
to improve the process (PITCHER, 2018).
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LO2
P3 EXPLAIN THE 4PS OF INNOVATION AND EXPLAIN THE USE OF THE
INNOVATION FUNNEL TO EXAMINE AND SHAPE INNOVATIVE IDEAS.
The innovation mix is the refereed as the innovation mist that depicts the discovery of the
innovation process that helps the business for the improvement and increasing profit:
Below are the four models that depict the innovation mix and which are:
Press: It refers to the climate, culture, environment in the organisation that can bring the
organisation at the innovation level. It is the dimension in which the process takes place,
people operate and products are developed. Gap analysis, culture surveys and the
development of the innovative plan are some of the criteria for the evaluation of press
(Anderson, 2013).
People: It reports the problems and issues that are associated to the individual and people
in the organisation and it addresses all aspects like individual differences and teamwork.
There are basically types of the different people that bring innovation in the organisation
and which are the implementer, developer, educator and clarifier.
Product: One of the most effective and significant mixes of the innovation that comprises
the technique of processing that makes the products, services very innovative. This
innovative product has the feature of the resolution, novelty, association and synthesis.
Process: The process refers to the method of developing an innovative product. The process
of innovation includes the development of the product and services with innovation and
creativity (Anderson, 2014).
INNOVATION FUNNEL:
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Figure 2: Innovation funnel
[Source: Vanhaverbeke, 2013]
The innovation funnel identifies the procedure of innovation that is utilised by the
organisation for high innovation in the organisation. The goal to use the innovation funnel is
the development of the process and product that can fulfil the market needs. It also
safeguards that the idea must be evaluated for checking the feasibility of the idea that can
give the desired results and outcomes for the people. The feasibility of the idea is checked
with the help of fates, rules and filters. This enables the screening of the ideas and it
includes failing and passing the criteria. The funnel includes following three steps and which
are development, shipping of product and investigation. In the stage of an examination, the
chosen idea goes for screening and after it the best idea that is selected are referred to the
development phase and this reaches to the product shipping (Vanhaverbeke, 2013).
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P4 EXPLAIN DEVELOPMENTS IN FRUGAL INNOVATION AND PROVIDE
EXAMPLES OF HOW IT IS USED IN AN ORGANISATIONAL CONTEXT.
Frugal innovation: Frugal innovation is the concept that forces the industry for responding
to the challenges and problems of the outer world and environment. It is the act that helps
the business for the development of the new models of the business, reprocess and
redesign the services and products for serving the users that must be affordable for the
customers (Rosca et al., 2017).
Developments in the frugal innovation:
The sales and revenue of the organisation can be increased with the help of application of
the frugal innovation. Agilitas IT solutions are facing the problem of low sales in the
organisation. It has adopted the frugal innovation for increasing the base of the customer
for increasing the sales. Frugal development has been seen in the market that leads to
organisation growth and development. The frugal innovation is developing in the
organisation and it is being adopted by the organisation to bring innovation with the low
cost (Bhatti and Basu, 2018).
Agilitas IT solutions have also adopted the frugal innovation in the organisation to lowering
down the problem of low sales and to increase the base of the customers. It has minimised
the cost of the development and organisation is bringing the innovation with the help of the
frugal innovation. The opinions and perception of the clients can be understood for the
fulfilment of their needs by innovation development and products offered. Agilitas IT
solutions have offered the IAAS services that are the reflection of the frugal innovation of
the Agilitas IT solutions. It has raised the sales which are the greater catalyst for the
organisation. Thereby it can be said that the development and adoption of the frugal
innovation have changed the organisation scenario positively which has reduced the cost by
sales increment (Rosca et al., 2017).
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