Innovation and Commercialisation Report - Semester 1, University X

This report provides a comprehensive analysis of innovation and commercialization strategies within a business context, using Apple as a case study. It explores the differences between invention and innovation, emphasizing the importance of leadership, culture, vision, and teamwork in shaping successful innovation and commercialization processes. The report delves into the 4Ps of marketing mix (Product, Process, Position, and Paradigm) and the concept of funnel innovation, examining how these elements contribute to effective product development. It further discusses frugal innovation, highlighting its role in reducing costs and complexities while maintaining quality. The report also covers the process of new product development, the importance of an innovation business case for securing funding, and various tools for protecting and retaining intellectual property and knowledge. Overall, the report provides a detailed overview of the key aspects of innovation and commercialization, offering insights into strategic approaches and practical applications.

INNOVATION AND
COMMERCIALISATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and it's importance...............................................................................................1
P2 Vision, culture, teamwork and leadership to shape innovation and commercialisation........2
TASK 2 ...........................................................................................................................................4
P3 The 4 P of innovation and funnel innovation.........................................................................4
P4 Frugal innovation developments............................................................................................5
TASK 3............................................................................................................................................6
P5 Commercial funnel importance and process of new product development...........................6
P6 Innovation business case........................................................................................................8
TASK 4............................................................................................................................................9
P7 Various tools to develop, protect and retain intellectual property and knowledge................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation and commercialisation will help businesses to make effective products from
the unique ideas. The report will cover the importance of innovation in comparison with
invention and also the leadership, culture and vision to shape innovation and commercialisation.
The 4P of marketing mix and developments in frugal innovation with new product development
process will be discussed in this report. Innovation business case to assess funding and different
tools to protect knowledge and intellectual property will be discussed.
TASK 1
P1 Innovation and it's importance
It can be said that invention and innovation are different from each other and their
subjects as well. A hair line difference between these two that innovation refers to thoughts,
ideas and approaches used to the respective field effectively. Invention refers to making any
product or service at different level (Azarmi, 2016). Making unique and effective things which
can be non-living or living is known as invention efficiently. In respect to this, innovation is led
by invention effectively. There are some certain differences between these two which are
discussed below:
Innovation Invention
 Innovation can be described as process
which includes the demonstration of
ideas and unique thoughts for building
a subject.
 Innovation is easy to apply and also
can be used again and again for the
common subject.
 Television are upgraded to LED and
LCD which is a innovation. Smart
TV's are the innovated version of
television.
 Invention refers to making any product
or service at a different level. Making
unique and effective things which can
be non-living or living is known as
invention.
 Invention process can not be repeated
like innovation.
 Invention is totally different where
ideas and new thoughts takes places in
order to invent something innovative.
Invention does not exist in the world
previously (Barbaroux, 2014).
 Old television's are the best example
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for invention.
Innovation can be described as a process which includes new and creative idea and
thoughts in order to develop the Apple goals and objectives in various geographical locations and
countries effectively. The demonstration of new and creative ideas will help Apple to increase
the revenues efficiently. Innovation is important as well as crucial for the firm in order to make
positive aspects within the environment. It will also help to determine the innovation towards
products and services from which organisation is able to increase their profitability and
production which will also help to increase the revenues at high level effectively. It will help
Apple managers to make corporation with understandings of process and common goals
efficiently. Cultural innovation will help business to create effective transactions by considering
resources, process and priorities (Browning and Rowell, 2015). In addition to this Apple requires
new culture and routines which can be fit to the innovation grasp of firm. There are some
traditional organisations which considered new things which will help them to evaluate the
various aspects towards the operational activities. Organisation culture system can be used by
citied firms in order to manage their invention's and innovation's in proper and appropriate
manner.
In respect to this, leadership is important for the businesses in order to control the
business operational activities. Leadership plays a crucial role which helps to develop and
improve performance of different departments effectively. This will also help Apple to achieve
objectives and goals and innovation will help to develop business transactions which produce
positive results for the firm.
P2 Vision, culture, teamwork and leadership to shape innovation and commercialisation
Innovation regarding the firm is depended on vision, mission, culture and various
leadership style at workplace. The vision of Apple will help to develop and improve the market
expansion and will also determine the work of employees towards the firm effectively. Business
should work more in order to accomplish the market share and profitability. The Apple should
ensure that they can develop new innovation in their business practices to increase the
promotional activities (Gao and Haworth, 2016). The culture should be ethical enough for Apple
to fill the demands and requirements effectively. Good relationship is also necessary which will
help to provide other work on the regular basis efficiently.
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Leadership approaches and styles should be followed by the organisation in order to cope
up with employees and market situations effectively. This will help to increase the performance
of employees towards their individual working capabilities. This will also help Apple to compete
other firms in the market which leads towards profitability. In respect to this, democratic
leadership style will help organisation to provide rights to the each member working in the firm
effectively and efficiently. Staff members also provide suggestions which will help organisation
to improve performance which leads towards profitability and production. For an example,
Apple is a electronic firm which provides laptops, mobiles and other accessories to the
consumers. Democratic leadership style will help workers to give their opinion from which
business is able to make further changes if required (Gómez and Rodríguez, 2016). This will also
help leaders to improve their decision making towards organisation operational activities.
Employees can work collaboratively in order to accomplish the vision of team working which
will also help to increase production and profitability effectively. Organisation should appreciate
team work which will improve the performance of employees at individual level and will
increase the revenues efficiently. An effective communication process between employees and
managers will help to solve the conflicts and issues arises in the firm. For an example, Apple is
able to pay attention towards encouraging and motivating employees which will help to create a
peaceful and healthy environment in the firm and at work place. Mission of the organisation
defines the desired goals and objectives which will help employees to understand their
individual roles and responsibilities. This will help Apple to accomplish their desired goals and
objectives effectively and efficiently. An effective vision, mission, culture and team work will
help Apple to create innovations and commercialisation in the firm which leads towards
increasing production and profits from which the firm can also enhance operational activities in
the market towards customers.
The main leader in the global market was Apple who created the new operating system
that created a stiff competition to the windows operating system in the global market. Thus, it
can be said that a clear vision, mission, team work and leadership style will help organisation
towards innovation and commercialisation effectively and efficiently (Gulbrandsen and Aanstad,
2015).
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TASK 2
P3 The 4 P of innovation and funnel innovation
It can be said that innovation will help business to solve their problems and issues within
operational activities. The Apple is also able to manage and control the transactions which helps
to create value for the products and services offered by the firm towards customers in the market.
This will also help to manage the transaction in particular and specific areas from which the
quality of products and services will be improved and developed to increase the promotional
activities effectively and efficiently.
In respect to this, there are 4 P of marketing mix which help to improve the products,
process, position and paradigm effectively. These are discussed below:
Product: Apple is able to make their products and services innovative which increase the
transactional activities in different part of nations. In addition to this, business should try to make
collaboration activities between employees in order to take decision regarding product and
service (Ito, Kaneta and Sundstrom, 2015). The Apple should maintain their products and
services quality that it is a international brand from which they are able to make an effective
impression upon users and consumers effectively. Creative ideas and thoughts provided by
employees will also help to increase the efficiency of production and profitability. For an
example, Apple is able to add new features and innovation in their products which will increase
the sales and goodwill as well.
Process: Process can be defined as step which is used to demonstrate the products and services
and also the objectives and goals effectively. The process should involve activities such as
selling, supplying and accounting of business products and services. This will help firm to
increase their sales and accomplish their desired targets. Process will also help to determine and
evaluate the threats and opportunities within production activities which will also help to manage
and control the products quality efficiently. Innovation will help to increase the efficiency of
process in order to improve the production.
Position: The position of Apple process depends on understanding the perception of the
customers. A proper development of behavioural technique in customer service is one of the key
methods to bring out innovation in business. Position also create advantages which helps to
compete other firms in the market (Payne, 2017). Position of the firm depends on perceptions
that it will help firm to understand the market position from which they are able to manage their
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products and service accordingly. This will also help to increase the production and profitability
within the organisation. It will also increase the image and reputation of firm. For an example,
Apple is able to manage the position in the market by providing quality services and products to
their customers.
Paradigm: The Paradigm consider the business shape which will help firm to manage their
profitability at high level effectively. Paradigm is a crucial element of marketing mix in
innovations. In respect to this, Apple is able to control the changes by specific innovations. It
will also help to increase the production and profitability within the organisation. It will also
increase the image and reputation of firm (Pollitzer and Schraudner, 2015).
Funnel innovation: Funnel innovation describe the process used in developing a product or
service effectively. The main purpose of innovation is to create product and process which will
help them to fill the demands and requirements in economic forms. The funnel innovation
consider three steps which are given below:
 The first step focus on wide mouth of the funnel.
 The second step represent the narrow segment.
 The third step is the narrow segment of a funnel.
P4 Frugal innovation developments
FRUGAL INNOVATION
Frugal innovation is a process which helps Apple to reduce cost of the product and
service and complexities as well in the process of production. The main use of frugal innovation
is to remove non-essential factors and features from the products and services offered by Apple.
This will also help firm to make quality and effective products at workplace in order to produce
positive results and outcomes effectively and efficiently. This will help to create effective ideas
and thoughts of innovation which will help to maintain the customer preferences and
perceptions. Customers can also purchase the products and services at lower cost with high
quality (Roos and O'Connor, 2015). Corporate leaders considered the frugal innovation all
around the world which will create a pressure on them for making high quality and effective
products for the consumers in the market.
In addition to this, frugal innovation also provide path for all the organisations in order to
increase the productivity and profitability. It can be also described as critical strategy which help
customers to make value for their products with low prices and high quality effectively and
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efficiently. However, the business is able to improve the functional activities by making
affordable products and services for the customers in the market. This will also help them to
increase their demand and requirements of products in the market and enhance the sales which
leads to the profitability and production for the firm effectively. Frugal innovation is all about
focusing on simplicity and agility of products. Business is able to make effective transactions
with this which will increase the efficiency in operational activities. This will led towards
achieving the desired goals and objectives.
Frugal innovation is a critical tool which is helpful and creates value for both customers
and Apple in order to manage the transactions according to the requirement and demand of
consumers in the market (Scholz, 2015). It will also help by providing guideline for the firm to
manage and improve the growth of business. Thus, frugal innovation is very crucial for Apple to
solve their issue, problems and disputes between employees and business effectively and
efficiently.
TASK 3
P5 Commercial funnel importance and process of new product development
The commercial funnel is the most innovative method of product development in Apple.
The new product development or NPD is done by following this funnel of development. There
are four commonplace things that is quite important here. It is called the awareness about the
product, the interest about the product, the desire to take the innovative product and the action to
buy the product. All these aspects of innovation are required for the full-fledged
commercialization of a product. Commercial funnel will help Apple to make their functions
effective which enhance the profitability and production. NPD process will help to make
effective products within business environment.
NEW PRODUCT DEVELOPMENT
The idea: It can be said that every products needs an idea to improve and develop. The product
should be well designed and unique which will help to enhance profitability as well as
productivity. For an example, the new product development process for Apple towards making a
phone which will considered latest innovations (Scholz, 2015). In order to make a Apple cell
phone the managers and manufacturers should focus towards making a creative idea.
Research: The next step of NPD is research which will help Apple managers to identify the
latest innovations in the market in order to make an effective product. This will also help
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management to evaluate the demand and requirement of product in the market towards
customers. Research will also help to determine the actual position of the firm in the market from
which they are able to collect information and data accordingly. This will also help to evaluate
the correct time for the product launching.
Development: The third step in NPD is product development. Product should consider all the
requirements of customers in order to increase the sales. The cell phone should be made of
superior plastic or metal body, camera should considered clear lenses and processor should be
latest such as IOS in order to provide better quality of phone to customers. Size and shape will
also include in development process of a new cell phone. Branding and packaging should be
attractive (Schot and Steinmueller, 2016). Designing and manufacturing will be done in
development process in order to attract new customers in the market effectively and efficiently.
Testing: The fourth step is testing of the product before launching it in the market for customers
effectively. The cell phone is provided to a group of customers for sometime in order to
determine the mistakes and performance. This will help them to evaluate whether the product is
ready to use or not in the market for customers effectively.
Analyse: The group of customer provide essential and important feedbacks and comments which
is helpful for the management in order to make some necessary changes in the product
effectively. This will also help them to decide how they are going to launch the product in the
market. This will include the product price and effectiveness accordingly which will help Apple
managers to decide the actual price of product.
Introduction: The product is finally ready to launch in the market for customers effectively. The
time factor for buying a particular financial product is very important. Even if a financial product
is highly lucrative, nobody would like to take the service if it is for a long time. Apple is a
international brand that it does not require much advertisement for the product.
Funnel is important for the firm that it will help them to depicts easier things which
seems difficult. The desire to accept a product comes due to the commercialization of an
innovative product. The desire mainly comes when someone looks at the product or its support
from closed ones (Taube and Heiden, 2015). In order to grab the personal market of individual
customers and to increase profitability, the social networking sites are the best option. However,
social networking site is a place to increase the desire of individuals to buy a particular product.
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P6 Innovation business case
Innovation planing will help Apple to measure innovations in order to create positive
results for the firm. Some certain concepts will help to find the different areas demands and
needs. In every business, understanding the perception and the minds of customers is highly
important. In the financial market, a company needs to understand all the customers want a
financial product that gives high returns, with high flexibility and security within a proper time
frame. However, all the criteria cannot be met at the same point of time. This will them to
identify the issues and problems from which they are able to make effective solutions. There are
some certain steps should be considered by Apple during the innovation as discussed below:
There are so many activities and tools are available which should be considered by Apple in
order to implement the process and project information which will be based on comparison
effectively (Tegen, 2015). This can be done by demonstrating and offering guidelines and
suggestions which will help to achieve business desired goals and objectives. It will also help to
make effective understanding in order to generate positive results.
The second step include the preparation of business case with the help of cost analysis and
benefits effectively. In respect to this, opportunities should be there in order to perform various
functional activities in the future. This will help Apple to develop a plan to fill the future needs
of firm.
In the third step, Apple is able to create a group which consider the factors to assess the market
position and also the present competitors in the market. This will help them to attract new
consumers and also provide a commitment within business environment. Trails and priorities
should be settled by the firm in order to move forwards towards innovation and
commercialisation efficiently.
The last step where Apple look to formate in order to break down the available inputs case.
Unique selling and future resources will help to determine the issues and conflicts to solve them
effectively (Thomas and Plowman, 2016). Apple should try to solve their conflicts arises
between employees which will help them to manage the business operational activities in the
market efficiently.
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TASK 4
P7 Various tools to develop, protect and retain intellectual property and knowledge
Intellectual property refers to the invention which is a creation of human brains
effectively. In respect to this, images, aspects and different symbols used to evaluate the
uniqueness such as copyrights, trademarks and patents. This will help workers to remember such
things by invention and creation. The utility model can be mainly considered as an intellectual
property based right for protecting inventions. Non-disclosure agreement that Many business
cannot fully understand whether a business idea is proper or not without discussing the same
with distributors and manufacturers. Work-for-hire agreement that Anyone who comes for the
product development sector should be made to sign a work-for-hire agreement.
INTELLECTUAL PROPERTY AND KNOWLEDGE
Absorptive capacity audit: Apple management should make self-assessment tools to consider
the capacity of absorptive (Roos and O'Connor, 2015). This will provide help to them in order to
explore absorptive capacities within the firm. This will increase the operational activities
efficiency from which the desired goals and objectives can be determined.
Management of internal knowledge connection: An effective management of internal
knowledge will help business to develop and improve their transactions. This will help to
achieve the objectives and goals of the firm.
Innovative ecosystem: Ecosystem generate positive environment within business operational
activities which helps to produce some positive results for the firm. This will also help to manage
the transactions from which the goals and objectives of the firm can be achieved.
Knowledge mapping: This will help to share the skills and knowledge of employees with co-
workers in order to manage and control the intellectual property in safe and appropriate manner
within business.
Acquiring technical knowledge: Technical knowledge will help employees working in the firm
to make the effective transactions which helps to manage the work individually and effectively.
This will increase the production and effectiveness of operational activities.
IP tools: IP tools such as copyrights, patents and trademarks help business to make some
positive and effective solutions. This will also contribute innovative functions in order to
increase the performance of business. New and creative ideas will help business to make
innovation for the cell phone (Scholz, 2015). IP tools plays a major role that All these tools are
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mainly the patents for protecting the IP, and it is quite beneficial in terms of expenses. Moreover,
the first tool called the non-disclosure agreement is a must for all the companies for protecting
the IPs otherwise the secret information of the company would also go here and there.
CONCLUSION
It can be said from the analysis of above report that innovation and commercialisation
will help business to make essential features. Different aspects will help to generate positive
results. This will also help to measure the future opportunities, objectives and goals and the
marketing mix to make effective decisions in order to generate results. New product
development process will help to understand various factors to make a product. IP tools help to
develop the business objectives for the future needs and to compete others in the market.
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