Innovation Report: 3Com, Strategies, and Commercial Funnel

This report delves into the concept of innovation and its significance for businesses, using 3Com as a case study. It explores the importance of innovation in a competitive market, comparing innovation to invention. The report examines how vision, leadership, culture, and teamwork influence innovation and commercialization. It also discusses the 4Ps of innovation (product, process, position, and paradigm) and the application of the innovation funnel, using examples from companies like Apple and Virgin. Furthermore, the report highlights frugal innovation, its development, and implementation in 3Com. Finally, it assesses the significance of the commercial funnel and the application of new product development strategies for business growth. The report emphasizes how innovation can help 3Com achieve its goals, maximize revenue, and establish a strong market presence.

INNOVATION

INTRODUCTION
Innovation is a term which is simply defined as a new idea or emergence of creativity for
different motives like for profit maximization, customer demand and establishment of goodwill
in the marketplace. In fact, main motive of introducing different thought is to meet the
requirement of domestic as well as foreign consumers. Basically, this report is going to be
categorized into four different segments for explaining the effectiveness of innovation in this
modern world. 3Com is a small business firm popular for its digital electronics computer
network found in the year 1979 by Robert Metcalfe for facilitating their native people. Therefore,
this report throws some light on the importance of innovation funnel with example of APPLE
and VIRGIN group as both companies are famous for its unique products with different features
by having a monopolistic position in the marketplace (Aarikka-Stenroos, 2012). Apart from this,
it also explains the role of 4P'S in attaining goals and objectives of an organization by modifying
existing products. At last, main motive of this assignment is to highlight an eminent role of new
ideas in establishing goodwill of 3Com in international marketplace.
TASK 1
P1. Innovation and its importance to organization in comparison with invention
Innovation is one of the indispensable parts for development and growth of 3com because
of their effectiveness and benefits towards success of an enterprise within minimum duration. In
fact, creativity is mandatory for the selected organization as they introduce electronic devices as
well as provide network interface controller for whole nation. Therefore, overall society can
easily communicate with each other in an effective manner (Sandberg, 2012). Along with this,
innovation is very much indispensable for 3Com as due to modernized world, demand of digital
marketing is increasing which believes in implementing something unique. Thus, importance of
innovation is stated as follows:-
 Supervisors of 3Com can enhance their current merchandise strategy for capturing the
attention of number of buyers.
 Creativity is very much indispensable for the organization to achieve their desired goals
and objectives in minimum duration.
 It assists them to generate maximum revenue.

 It supports them to introduce different items in comparison to their competitors.
 Higher authority of 3Com is trying to implement new policies as well as strategies for
conducting alteration in their current goods.
There are number of differences in between innovation and invention which are stated as
follows:-
INNOVATION INVENTION
This term point outs the modification or
alteration of current products which are already
introduced in marketplace for fulfilling the
demand of customers.
Whereas, invention is a term which is
characterized as a presentation of products
without any precedent for commercial centre
and considered as a fresh commodity.
According to given case study, modifications
in Apple iPhones is conducted by organization
for enhancing their features to seek the
attention of clients.
But, if Apple is going to design totally fresh
gadget or any different idea it considered as a
emergence of new products from which whole
world is unaware. Therefore, it is said to be an
invention.
Apart from this, 3Com needs to adopt advanced and developed ideas for improving their
existing products by satisfying the needs and demands of customers. Basically, both the terms
are very much valuable and essential for the success of association for generating maximum
income by fulfilling demand as well as tastes and preferences of various buyers (Bogers, and
West, 2010). Instead of this, it also acts as a key to progress and a useful tool for establishing
their goodwill in the marketplace for running enterprise for a longer period of time. For example,
in Apple and Virgin group, innovation is very much essential so that they can increase their
number of customers which ultimately results in profit maximization.
P2. Vision, leadership, culture and teamwork can shape innovation and commercialisation
3Com has to set a clear vision for whole organization to attain their objectives and targets
with the use of necessary resources. Therefore, vision, leadership, culture as well as teamwork
plays an eminent role in shaping the innovation and corporate greed in various ways because of
their vital and prominent role behind success of organization (Bogers, 2012).
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 Vision: Clear targets and objectives of an enterprise motivate manufacturers of company
to introduce new or different thoughts for profit maximization by implementing an
effective plan. Basically, vision is all about precise explanation of scope and motive of
enterprise for implementing impressive schemes. Apart from this, it is a term which
shows long term goals of organization which is the establishment of image at
marketplace by introducing new and beneficial gadgets for maximizing their profit.
 Leadership: Development and growth is an idea which was expressed by leaders for
launching innovative products with attractive features by capturing the attention of
individuals as well as whole society. Therefore, 3Com is going to appoint experienced
and skilled people for implementing creative ideas in the marketplace by considering
essential facts and figures. Instead of this, they need to maintain peaceful environment so
that employees can easily attain their personal and professional goals (West, 2012).
 Culture: As indicated by 3Com, their working condition is defined by path in which
employees work within organization by interacting with each other. Thus, it highlights
their behaviour or activity in which individuals are working by following various
essential plans and policies implemented by directors.
 Team work: It represents togetherness of a particular unit for accomplishing a specific
target within given time period by pursuing all tasks and exercises in an appropriate
manner. Basically, it highlighted cooperative nature of staff members working in firm for
executing new and unique innovative ideas. For implementing something different and
inventive, selected firm needs to work in a solitary group with co-operation in every
department. Apart from this, togetherness is the key to progress and development in
removing hidden obstacles as well as by hedging their business risk with the help of
appropriate techniques and tools (Ettlie, 2012).
TASK 2
P3. 4P'S of innovation and use of innovation funnel
Product innovation- An endeavor will cooperate for doing adjustments with the current
merchandise so this assistance them for expanding their clients volume and number in
compelling way. Market are welcome for new person who are enter for making inventive items
to their clients. An association can report the new framework administrator for helping customers
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at particular day and age. This will help in construct picture for expanding development and
improvement and widen involvement of representatives.
Process development:- The procedure of improvement is assume a critical part to do
successful working at work environment. It is essential that non-stop refresh of framework are
help in producing most extreme benefit and furthermore oversee time in appropriately. At the
point when administration take use for creating different apparatuses and procedures for breaking
down which technique is best appropriate for increasing precise outcomes or results. Process is
that term which help in smooth running of business operations and capacities for expanding
gainfulness and profitability of drinking items and things .
Position changes – It alludes to the adjustment in the re situating of the present
merchandise and enterprises. Changes in the current procedure line may help the administration
in showing signs of improvement comes about. There are changes that through embracing
distinctive way of generation, same asset can give more successful outcomes. Arrangement
adjustment should likewise be possible under the idea of process changing like moving
distinctive into new request which may diminish the season of exchanging items starting with
one place then onto the next. Referred to organization would mange be able to its creation unit
with the goal that the last administrations can research to more clients which will additionally
include more deals for the given element (Gambardella, 2010).
Paradigm – It is the last model of aggregate 4ps. It is worried about the progression in
existing metal model indicating what really matters to every one of an association. Channel
headway is a mix of various process which required to be taken after specific objectives and
points successfully. The procedure will likewise help administration on developing and growing
new thoughts and considerations which fulfilled needs and needs in legitimate way.
P4. Development in frugal innovation and its usage in 3Com
Frugal innovation is an appropriate tool of inventiveness which focuses on creating
different and multifaceted nature by introducing durable products. For example: car and iPhone
launched by one of famous enterprises named Apple. Another name of frugal advancement is
frugal engineering whose main motive is to implement new and impressive merchandise plan for
those customers who believe in brand and are loyal towards particular trade name for longer
period of time. Basically, products which are manufactured in minimum cost known as inferior
goods demanded by weaker sections of society (McGahan, 2010).
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Thus, in the coming era, there are number of customers present who believess in
qualitative products for raising their living standard. Therefore, 3com wanted to manufacture
goods consist of qualitative raw materials for satisfying the needs of people who are brand
conscious. Meanwhile, frugal innovation executed different strategies for updating their different
items to serve different clients.
Therefore, some of the impressive development and growth in frugal innovation is
described as follows:
 Additional characteristics of current products/commodity: 3Com needs to raise their
product’s quality by using adequate methodologies and alterations in available plan of
action which plays an eminent role in fulfilling the needs of their desired customers.
 Reduction in production cost: With the help of frugal innovation, an organization is
trying to minimize their expenses and makes impressive goods or services. Instead of
this, 3Com is going to buy raw materials in minimum cost for providing products at
lowest rate by fulfilling the demand of whole society.
 Emergence of innovative devices: According to this, an enterprise is trying to create
their goods by enhancing quality as well as standard for providing the best gadgets and
devices to their buyers (Godin, 2012).
 Create reasonable and durable commodity: - One of the major developments in frugal
innovation is that it will assist them in acquiring benefits from their rivals.
Innovation funnel is mainly adopted by an organization for expressing fresh ideas for
employees of 3Com to uplift their abilities as well as knowledge. Basically, it goes through three
stages by having different motives towards business.
At last, 3COM needs to uplift their overall organization by acquiring genuine and
accurate information and data as in Apple and Virgin group, managers of company believes in
gathering necessary ideas for reforming their existing products that are helpful in enhancing the
effectiveness of items. Therefore, they adopt advanced technology during production process
which help them for minimizing the unwanted cost (Huizingh, 2011).
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TASK 3
P5. Significance of commercial funnel and application of new product development
Business funnel is a term which is divided into three phases for altering current products
for capturing the attention of millions of clients by adopting effective strategies as well as
policies. Therefore, it is essential for 3Com for attaining their goals and objectives by using ideas
of commercial funnel. Thus, there are number of reasons which shows the importance of this
funnel as mentioned below:-
 Conduct investigation program: With the help of this, manager of 3COM tries to gather
necessary data and information for modifying their merchandise strategies and services in
an appropriate manner. Therefore, if an organization wants to implement useful
techniques or acquire necessary evidences and proofs then this method is very much
useful.
 Improvement in quality: If 3Com wants to take benefits from their rivals, then it is
indispensable for them to enhance the quality of their products on regular intervals.
 Goodwill: It is indispensable to establish their reputation in the marketplace by creating
positive relations with whole society as well as competitors (Kim and et. al., 2011).
 Methods of capturing minds: According to this, they can also seek the minds of
domestic as well as foreign consumers by introducing catchy themes in their available
gadgets.
 Introduction of advanced equipment: Apart from all the above, they can also launch
advanced gadgets with impressive and unique facilities for their desired buyers.
 Elimination of loss: Managers of an organization can eliminate or minimize unwanted
cost from their concern.
 Pricing policy: It is indispensable for them to fulfil the demand of buyers by offering
them reasonable products by satisfying their needs and wants.
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(Source:- Innovation funnel, 2017)
Instead of this, new product development procedure depicts a successful scheme of
uplifting quality or standard of existing products of 3COM for seeking attention of millions of
customers as well as make an attempt to establish their goodwill of 3Com in the corporate world
(Lindič and et. al., 2011). Apart from this, improvement in product is going through appropriate
steps which is mentioned as below:-
 Emergence of different ideas: Before manufacturing process, it is indispensable for
enterprise to come up with new or unique ideas with the help of investigation process.
 Screening of idea: According to this, for emerging new thoughts and creative ideas,
managers of 3COM need to screen them for getting updated about standard of
marketplace.
 Testing and development: After screening process, now it is the time for testing
implemented systems for removing existing obstacles and barriers. Therefore, this
method is very much appropriate in minimizing the issues of developing procedure.
 Business analysis: After getting aware about the usefulness of a process, it is time for
conducting assessment of whole enterprise for getting updated with benefits and
disadvantages of implementing a particular thought (Schoonmaker, 2010).
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Illustration 1: Innovation funnel

 Product development: At last, it is the time for uplifting goods manufactured by 3COM
by facilitating their consumers in a proper manner.
Therefore, managers of Apple and Virgin Group are trying to enhance their products by
conducting research programmes for gathering relevant information and data which is used by
them during production process.
P6. Innovation business case
Business case is appropriate strategy which is utilized by 3COM for procuring greatest
benefit and furthermore pulling in more clients towards obtaining compelling items and
administrations . The fundamental goal for select business case is to oversee and control
hindrances of Essence organization at the season of assembling process. Aside from this,
business case cover diverse advances which are talked about as takes after:
Executive summary- 3COM falls under telecom industry whose main objective is to
provide best networks to their customers in order to connect across the globe.
Goals:- The fundamental target is to give new and present day innovation merchandise
and products for pulling in residential and worldwide clients who cooperate with each other in
suitable way.
Arrangement:- Managers of referred association tries to dispose of all issue or issues for
creating imaginative items and administrations and offer to the purchasers who willing to buy
them.
Research of clients It is extremely fundamental process which help in giving
comparative items to their shoppers.
Improvement and outline of plans-This is important for an association is to get ready
arranging and bolster workers for making imaginative and creative items which pulls in
expansive number of purchasers in the commercial centre.
Need of capital-This is fundamental apparatus for each endeavour is to oversee and
control all capacities and business operations in compelling way. Regardless of whether it is
huge or little association.
Expectable advantage:- It is imperative for association is to make imaginative items
which has sensible cost and this can be reasonable by purchasers.
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TASK 4
P7. Tools that organization use to develop, retain and protect knowledge or intellectual property
Government has made various laws and regulations to protect the methods of an
association from many substitutes. There are various tools which are mentioned as beneath: Trademarks: It is a mixture of many symbols. With assistance of this, organisation's
stock as well as services can easily be detached from others. People can easily understand
brand with the help of signs. It can be printed on label, vouchers and so on. Along with
this, it can be represented on enterprise's building (Innovation Funnel, 2016). Copyrights: It is intangible and in addition, acknowledged by a creator and inventive
preparations. Fundamentally, it incorporates books and thus, it is not it is easy to do
different creative works such as music, programming and so forth. Therefore, no other
company can use copyright of 3Com without their permission (Snow and et. al., 2011). Patents: It is a legal privilege which is needed by a firm so that they can sell their
products and no other company can create copy of it. Advancement or any method can be
saved by using this right. Enterprise needs to pay maintaining charges and along with
this, it is valid for twenty years only.
 Trade secrets: As indicated by this, an organisation uses secret kinds of machines and
methodologies while they develop products. Indeed, it acts as secret information which is
used by 3COM and thus, they can keep up their business easily (Difference between
Invention and Innovation, 2016).
CONCLUSION
From the above assignment, it has been summarized that creation is very much
indispensable and necessary for the success of whole organization due to its benefits for whole
enterprise. In fact, this assignment is mainly focussed on various techniques adopted by one of
the small organization named as 3COM for facilitating their desired customers. Apart from this,
it also implemented various ideas of protecting intellectual property with the help of governing
bodies.
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REFERENCES
Books and Journals
Aarikka-Stenroos, L. and Sandberg, B., 2012. From new-product development to
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Bogers, M. and West, J., 2010. Contrasting innovation creation and commercialization within
open, user and cumulative innovation.
Bogers, M. and West, J., 2012. Managing distributed innovation: Strategic utilization of open
and user innovation. Creativity and innovation management. 21(1). pp.61-75.
Ettlie, J. E. and Rosenthal, S. R., 2012. Service innovation in manufacturing. Journal of Service
Management. 23(3). pp. 440-454.
Gambardella, A. and McGahan, A. M., 2010. Business-model innovation: General purpose
technologies and their implications for industry structure. Long range planning. 43(2).
pp.262-271.
Godin, B., 2012. “Innovation Studies”: The Invention of a Specialty. Minerva, 50(4). pp.397-421.
Huizingh, E. K., 2011. Open innovation: State of the art and future perspectives. Technovation.
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Kim, S. K. and et. al., 2011. The effect of R&D, technology commercialization capabilities and
innovation performance. Technological and Economic Development of Economy. (4).
pp.563-578.
Lindič, J. and et. al., 2011. Deploying information technologies for organizational innovation:
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