Analysis of Evolving Models of Innovation Management and IP

This report delves into the evolving models of innovation management and the crucial role of intellectual property, using Tesco as a case study. It examines the impact of innovation on business, exploring concepts like technology transfer and competitive advantage. The report analyzes Tesco's innovation strategies, including self-checkout and online ordering systems, evaluating their advantages and disadvantages. It further discusses the analytical approaches to innovation management, such as sustainability factors and product life cycle. The report highlights the importance of managing innovation effectively to meet customer demands and maintain a competitive edge in the market. It also addresses the challenges and complexities involved in technology transfer and the need for robust innovation management practices to achieve organizational goals.

Evolving Models Of
Innovation
Management And IP
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Table Of Contents
INTRODUCTION…………………………………………………………………………….3
Critical understanding of managing innovation and technology transfer theme………………3
CONCLUSION………………………………………………………………………………9
REFERENCES……………………………………………………………………………..10
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INTRODUCTION
Models of innovation plays a very important role in the business environment. These
kind of model innovation allows a business to take advantage of changing customer demands
and expectations. And intellectual property is the creation, invention, design, artistic work
and images used in commerce. In this report, the analysis has been done on the evolution of
innovation model and intellectual property. The analysis needs to be done on the role of
innovation management and its impact on the organisation. The chosen organisation is
TESCO. It is the company which is multinational merchandise retailer. This company is the
famous leader in the UK. (VanderPal, G., 2015). From the innovative management practices,
analysis needs to be done on the key attributes of it. These models can be displaced by the
newcomers who were better able to meet the customer need. Intellectual property is also very
important under the head of innovation. Because these are the property which is new into the
market and it needs to be taken care of that no one can copy that particular product or service
or copy the idea of new creation. Models of innovation gives the idea about the changing
market trend and advancement in the technology with the changing period of time.
Critical understanding of managing innovation and technology transfer theme
A company can only perform in an excellent manner in that case when it develops
technological capability that enables it to create new products that are innovative. This can’t
be possible in every case. In an increasingly dynamic market it is very difficult to manage
product or innovation which is crucial for the survival of business and for obtaining the
competitive advantage. Innovation is still need to seen as a critical factor economic
performance boost. Critical aspects of innovation management is faced with the need to
understand the adoption of sustainable competitive advantage. Technology transfer theme is
also very famous in the business world. There are some factors which affects the
technological transfer. (Wright, A. and De Filippi, P., 2015).First is that relative advantage
under the economic terms, it tells about the degree to which the technology has been adopted
and has been implemented within the economic scenario. Next is about the cost effectiveness,
it talks about how much the technology has been delivering the results for the organisation
because for making a technology lots of efforts and planning needs to be implemented so that
exact result can be achieved.
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Next is about the higher margin of profit which talks about the innovation in technology
plays a good role in achieving the higher margin of profit at the stage of innovation platform.
Due to innovation reason in the product the sale of the product has been increased due to
technological transfer reason.
The analytical approach which can be used in managing the innovation is the sustainability
factor. Through sustainability whatever innovation has been done in the existing product does
not harm the environment. (Malhotra, and et.al., 2017). The raw materials which can be used
in the continuous development of the products and services are used in the natural way so that
it will not harm the environment. It is also required that to improve the product design. With
the satisfactory and technology which can be adopted by the country that kind of innovation
can be done in the product. Through new type of technology added in the product it will
enhance the value of products and services. The approach should be used in this manner that
can be broken down into different steps so that innovation can be managed. Under the
technology transfer scheme it is important that the process of technology transfer should be
done into smaller steps. (Walker, and et.al., 2016). Technology transfer can be done in the
terms of related documents and accumulated expertise from a development site to a
manufacturing site or between manufacturing sites. This type of technology transfer theme
sometimes makes the procedure complicated and difficult also. Within the organisation when
the technology transfer theme has been implemented it becomes very difficult that to pay
attention to the every minute detail of the process.
Under the analytical approach where technology needs to be transferred in a safer manner
with the inclusive steps, it becomes the procedure more longer and time taking. Due to this
reason the working of the particular department gets slow down and it becomes very difficult
to achieve targets within a frame of time period. (Malhotra, and et.al., 2017). The most
common approaches which can be used for innovation management are product life cycle,
product line planning, portfolio management, project management, brainstorming etc.
Management of innovation is a crucial task and which is consist with the set of tools which
permits the managers and engineers to integrate the innovation with the end goals and
objectives of the organisations. With the support of innovation approaches the managers and
executive can bring out the capabilities of employees and workforce for the continuous and
persistent development of the organisation.
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According to the TESCO organisation it has been find out that the company has implemented
two innovation in the organisation. First is the self check out and second is the online
ordering. Under the self check out customers don’t need a retail person to do its transaction
they can themselves do this particular work. (Malhotra, and et.al., 2017). There is a problem
in this type of self check outs. Because every person who came for the shopping purpose in
the TESCO is not aware about how to use it and some people are not very much
technologically driven. There can be many difficulties arises with self checkouts. Sometimes
transaction has been done in the wrong manner and sometimes the amount deducted is in the
negative pattern. There has been increased chances of theft situation because it is that lane
where fewer people are monitoring this lane. Under this system, high up front costs has been
implemented and it has been find out by the study. Through the four lane working the cost
can be reduced in the open source platform. Under the self check outs there is less chances of
human contact due to which customers also can’t take help from others in case of any
difficult situation. (Marques, P. and Morgan, K., 2018). Due to lack of human contact it also
reduces the speed of process of working.
While using the equipment at the self check out point it has been find out that the problems
with the scales embedded into the scanner. There are certain kinds of software glitches also
which makes the customer not comfortable in using that system. Some old generation people
don’t aware the type of current technology due to which they are unable to use this kind of
services. Sometimes equipments also creates problem which do not scan the item in a proper
manner. At this stage customer takes advantage of this particular kind of situation where
customers takes some items with themselves in a free manner without doing transaction of
that particular kind of item. Under the self checkouts there are major chances of happening of
fraud and theft activities. So self checkouts is not favourable for customers as well as for the
company also. Although self checkouts are good if customer is loyal towards the company.
This can be successful where people are mostly driven by technology and the process is so
simpler so that older generation can also cope up with it. (Malhotra, and et.al., 2017). It is a
good option for the company where they save the salary of one person and that salary can be
invested into some other sector also. This kind of service not only makes the company
smarter and intelligent but it also changes the view of the company among the customers due
to which more customers can attract towards them. This process reduces the dependency on
someone and makes the process faster.
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But it can’t be implemented within the company for the longer period of time because it will
create the problems for the development of the company. And most of the time company has
to face losses and looses the customer loyalty factor also.
Online ordering is the another innovation that has been implemented by the TESCO
company. Online ordering is a good process where company do not takes so much effort for
taking care of the products in the physical form. It is also good for customers because they
don’t need to go outside for the purpose of shopping and they can order it online. This
process is faster and they have the products whatever they want at their doorstep. But
somewhere online ordering has its cons also. (Rees, G. and Smith, P. eds., 2021). In terms of
online ordering with respect to the TESCO company it has been found out that a hungry
customer only spend five minutes for whatever they want. So in this manner, they don’t look
for the better options in the online ordering and also don’t go for the reasonable prices which
are sometimes offered by the company for their customers benefit. Sometimes there can be
problem at the time of payment the server page has been continuously loading and customer
becomes confused whether the payment has been done or not. It also has been found out that
sometime due to internet connectivity issue the payment has been done in double times due to
which in further situations the customers have to deal with customer care people who can
help them in reimbursing their payment. (Kim, S. K. and Min, S., 2015). In the online
ordering, sometimes for the longer period of time it shows that the order is in under process
due to which customer don’t get any exact idea when their order has been dispatched from
that particular place.
It also has been found out that there are certain kinds of problems related to delivery and
packaging. Sometimes customer can’t find out that in how much time there order has been
reached to their doorstep. Due to some weather conditions and some technological
intervention the order gets late which creates a negative impact in the customers mind. Due to
this reason sometimes customers give negative feedback regarding that employee which
affect the performance of that employee rather than giving his or her hundred percent. (Taleb,
and et.al., 2015). It has also been found out that the products that has been delivered to the
customers are not properly packed due to which some things have been fallen out in the
journey time. When the product has not been packed in a perfect manner then it makes the
products dirty which is considered under the category of unhygienic products. It will give a
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negative impression and if this kind of feedback has been posted on the online platform then
it will reduces the number of customers as well as the market share also.
Sometimes it has been found out that customer service is not good due to which customers
don’t feel themselves satisfied and there are chances that they change their shopping mode or
can switch towards the another retailer. Under the online ordering there are some customers
who do not trust the quality of products and it becomes difficult to build up trust for their
customers regarding their products. (Geng, H. and CMfgE, P. E., 2016).There are also some
issues which has been come out regarding the hidden costs. Sometimes products gets so
expensive when they added the cost regarding the shipment, other kinds of taxes which
makes the product very expensive and high valuable also. There are some issue regarding the
colour of product because in the online ordering the picture of that product has been taken
under the proper lighting due to which it looks very attractive. But when it comes in front of
the eyes of customers it will look into different manner due to which somewhere customers
don’t feel like to order always through online mode. Somewhere in various aspects according
to the current time requirement the online ordering is the best way for doing shopping.
Because it not only saves time but also value and money also. But due to some factors and
negative feedback of customers it has been considered under the category of negative way.
There can be some viable commercialise solution for managing innovation and technology
transfer. Under the aspect of managing innovation it is important to understand the noise of
the system so that actions can be taken accordingly to whom the innovation has been
targeted. (Bharadwaj, and et.al., 2016). Next solution is that to target some people from
different departments within the company which have their unique perspective. By doing this
activity number of ideas has been come out which will help in managing the innovation.
Another solution is that to separate the ideas so that impossible and improbable conditions get
separated and in this way the solution can be find out that which idea can be commercialized.
Next solution can be that build a work like prototype under which aesthetics and design can
be set aside in the favour of developing the nuts that can turn the product into functional
reality. To commercialize the innovation it is important that to design and pack the product in
such a manner that it will look very attractive and eye-catching product for the customers.
(Gureva, and et.al., 2016). Next solution can be that to combine the last two prototypes so
that it help in shaping it in more improved and effective manner. For commercializing the
innovation, it is important to scale the product so that any issues and concerns have been
arised with respect to the product.
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Another solution is that to conduct a soft launch so that the product has been targeted in an
effective manner and it should be launched in a particular place so that it can be successfully
commercialized.
To commercialise the technology transfer it is important to follow steps and consider some
particular things. Important step regarding this head is the intellectual property licensing and
agreement so that no one else can copy the idea of this new technology. There are some IP
exchange agreement which needs to be signed under the joint ventures and partnerships. It is
also important to sign an agreement with research and development department so that
further fraud possibility has been reduced. (García-Granero, and et.al., 2018).A common way
for commercialising the technology is that it is the process of taking an idea into the market
and creates its financial value which is typically can be done through licensing an invention,
develop the new product and service or creating a new business. The process of technological
transfer commercialisation sometimes faced the unfavourable economic activities and
inadequate supply of complimentary services to translate new ideas into technological and
economical viable solutions. For the purpose of commercialising the technology it is
important to consider that how much it will be beneficial for the social environment and what
is impact of it. It is also need to understand whether the technology is ready or not to adopt
that particular market. (Teece, D. J., 2019). The necessary step is also to consider the
economic factor which plays a very important role in the existence of technology in the
external environment. For the purpose of commercialising technology transfer it is important
to read out the policies which has been concerned with this kind of activity because any kind
of intervention and future problems can degrade the value of technology in the market.
There are certain kinds of steps which need to be followed for the commercialising of the
technology transfer. First step is that to research about it under which it is important to keep
good and reliable records of the research activities. And before the launch it should be
patented. Before the disclosure it is important to find that whether it is the correct time to
launch the technology and need to contact with technology transfer office. Under the
invention disclosure it should be maintained in a confidential manner or describe in a
confidential document. (Khan, and et.al., 2018). In the next step, it is need to be assessed in
front of the patent committee, after the approval of them timely review needs to be done of
the patent application. After that marketing has been done with respect to the technology.
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Then goes for the licensing process where all the legal procedure and documents and
agreements need to be signed. The license management maintain the catalog of the license for
the life of patent. After that it goes for the product development and at the end the license
company continues the advancement of technology and makes other business investments to
develop the technology.
CONCLUSION
Under the evolution of innovation model and intellectual property, it is important to
always take some particular steps. It has been concluded that for managing the innovation it
is important to consider all the aspects and factors which is necessary for the new type of
innovation. Innovation needs proper planning, targets, strategies and objectives so that it can
be executed in a proper manner. (Purkus, and et.al., 2018). For the purpose of technology
transfer it is important that to do the licensing of the intellectual property so that no one else
can copy the idea of innovation or idea. Technology is the base for any organisation which
makes the process of working faster and accurate and if this has been used by some other
company then all the efforts has been gone into vain. So managing the innovation and
intellectual property both are the parameters which are very important for any organisation.
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REFERENCES
Books and Journals
Khan, and et.al., 2018. Global networks as a mode of balance for exploratory innovations in a
late liberalizing economy. Journal of World Business, 53(3), pp.392-402.
García-Granero, and et.al., 2018. Eco-innovation measurement: A review of firm
performance indicators. Journal of cleaner production, 191, pp.304-317.
Gureva, and et.al., 2016. Management of innovations and innovative process: concept,
essence, classification and diffusion. International review of management and
marketing, 6(6S).
Geng, H. and CMfgE, P. E., 2016. Manufacturing engineering handbook. McGraw-Hill
Education.
Taleb, and et.al., 2015. EASE: EPC as a service to ease mobile core network deployment
over cloud. IEEE Network, 29(2), pp.78-88.
Rees, G. and Smith, P. eds., 2021. Strategic human resource management: An international
perspective. Sage.
Malhotra, and et.al., 2017. Developing innovative solutions through internal
crowdsourcing. MIT Sloan management review, 58(4), p.73.
Wright, A. and De Filippi, P., 2015. Decentralized blockchain technology and the rise of lex
cryptographia. Available at SSRN 2580664.
VanderPal, G., 2015. Impact of R&D expenses and corporate financial
performance. VanderPal, GA (2015). Impact of R&D expenses and corporate financial
performance. Journal of Accounting and Finance, 15(7), pp.135-149.
Walker, and et.al., 2016. ROUTE/DASH IP streaming-based system for delivery of
broadcast, broadband, and hybrid services. IEEE Transactions on Broadcasting, 62(1),
pp.328-337.
Marques, P. and Morgan, K., 2018. The heroic assumptions of smart specialisation: A
sympathetic critique of regional innovation policy. In New avenues for regional innovation
systems-theoretical advances, empirical cases and policy lessons (pp. 275-293). Springer,
Cham.
Kim, S. K. and Min, S., 2015. Business model innovation performance: when does adding a
new business model benefit an incumbent?. Strategic Entrepreneurship Journal, 9(1), pp.34-
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Bharadwaj, and et.al., 2016, December. IoT based solid waste management system: A
conceptual approach with an architectural solution as a smart city application. In 2016 IEEE
Annual India Conference (INDICON) (pp. 1-6). IEEE.
Teece, D. J., 2019. A capability theory of the firm: an economics and (strategic) management
perspective. New Zealand Economic Papers, 53(1), pp.1-43.
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Purkus, and et.al., 2018. Towards a sustainable innovation system for the German wood-
based bioeconomy: Implications for policy design. Journal of Cleaner Production, 172,
pp.3955-3968.
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