Report on Innovation and Commercialisation Strategies: F-Drones Case

This report provides a comprehensive analysis of innovation and commercialisation strategies, focusing on the case of F-Drones, a company specializing in aerial transportation services. The report begins by defining innovation and its importance, contrasting it with invention, and exploring how vision, leadership, teamwork, and culture shape innovation and commercialisation. It then delves into the 4Ps of innovation (product, process, position, and paradigm) and the use of the innovation funnel. Furthermore, the report discusses frugal innovation, the importance of the commercial funnel, and new product development within commercialisation, including a business case for F-Drones and funding access. Finally, it examines tools for developing, retaining, and protecting knowledge and intellectual property. The report provides a detailed overview of the concepts, processes, and strategies involved in successful innovation and commercialisation, making it a valuable resource for understanding the topic.

Innovation and
commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explain the concept of innovation and its importance in comparison to invention..............1
P2 How innovation and commercialisation can be shaped by vision, leadership, team work
and culture...................................................................................................................................3
TASK 2............................................................................................................................................4
P3 Explain about the concept of 4Ps of innovation and about the use of innovation funnel in
order to shape innovative ideas...................................................................................................4
P4 Explain about the developments been done in frugal innovation and provide examples of
how it is used in organisation......................................................................................................6
TASK 3............................................................................................................................................7
P5 Why commercial funnel is important and new product development in case of
commercialisation of innovation.................................................................................................7
P6 Explain a innovation business case for the organisation and also include ways to access
funding........................................................................................................................................8
TASK 4............................................................................................................................................9
P7 Different tools required to develop, retain as well as protect knowledge and also
intellectual property ...................................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation is refers to the process of developing something new and applying new
method or approach to do something(Özilgen, 2019) . Innovation procedure has been associated
with the way of introducing things along with improving existing one. This is one of the most
important aspect which help in to maintain long teem strong competitiveness. This is also define
as the procedure which has been undertaken to renewed and brought up to the date to product or
services through applying new process, techniques or ideas which creates new value. In addition
to this commercialisation is the refers to the procedure of introducing new product or
manufacturing method into market. The broader act of commercialisation has been associated
with the production, distribution, marketing, sales and customer support along with other key
function which are necessary for accomplishment of commercial success of new product and
services produce by organisation. This report is based on the F-drones which is specialise in
selling aerial transportation services which has been used in to supplies to ships as well as
offshore platforms. The below report is consist of analysis of innovation and its importance as
compared to inventions, evaluation of different type of innovation. Moreover it will includes,
processes which is required to commercialise innovation and the range of methods which is used
for protecting ideas along with their advantage and disadvantage.
MAIN BODY
TASK 1
P1 Explain the concept of innovation and its importance in comparison to invention
Innovation is refers to the process of introducing new things and applying new ways of
production and this is also define as creative idea which has been changed into functional
reality(Medase and Barasa, 2019). In order produce better productivity and work efficiently it is
necessary for any kind of business to induce development on constant which will also help in to
create long team competitive advantage. Moreover in comparison to invention it deals only
creating new things but innovation deals in providing improvisation in existing things. Some of
the importance of innovation has been explained below:

Different from competitors: Innovation offers opportunity to company to be unique and
different from competitors through which it will develop a strong competitive advantage and
stand different from its competitors through which higher customer base get attracted.
Attract talented people: Innovative company is one which has higher growth and success
opportunity through more of the talented and skilled people get attracted company. In order to
obtain career opportunity to grow and with this productivity of company also get enhanced.
Business growth: When a company initiate to innovate or improve existing product it has
significant positive impact over its growth. Higher customer base get attracted towards brand,
when a company improve existing product and launch it into market which results into business
growth at market place.
Innovation and invention:
On the basis of meaning: Innovation is define as the systematic procedure of making
improvements in the existing products along with replacing something. It is also refers to the
execution of new idea for specific products. Moreover, invention is describe as the act through
which ideas and objectives come together in order to develop something new which did not exist
before.
Skills required: This is the process in which marketing and technical skills are needed
fior improving existing one or executing something new that has been done as per the demand or
requirements of customers. Moreover, in the process of invention, scientific skills are required as
complete new product is going to be develop in order to satisfy the need of customers.
Concern: Innovation is concerned with product, services, processes and everything
which is need to be improved for customer's satisfaction. Therefore, invention is concerned with
single product which is going to be invented.
Occurrence: Innovation has been occur within organisation when it feels that there is
need for improvement in order to compete effectively at market place and to create strong
competitive advantage. Moreover, invention occurs when management team get new idea and on
the basis of that product is invented in order to build reputation or image at market place.
Importance of innovation in comparison to invention:-
Competition: In the market area , there are various companies which has been induce
competition within industry, for this it is important for the company to innovate its business in

terms of products, services and process in stipulated period of time. This provides support in to
achieve growth in a particular sector. Competition is one of the major key driver which has been
force company to be more innovate so that overall productivity and profitability get enhanced.
Along with this it is not possible for the company to always do invention as it require high cost
which and higher risk that can impact company's profitability and sustainability.
Customers: Business has been operates in dynamic environment in which needs and
requirements of customers can be changed at any period of time for that company need to
continuously changed and innovate its products and services. so that interest of customer will be
maintain and more new potential customers get attracted which provides support in to increase
sales and profitability.
P2 How innovation and commercialisation can be shaped by vision, leadership, team work and
culture
Vision: After looking the organisation vision is the very important topic to look after in
the organisation(Naughton and Foss, 2019). Because for the development of business it has to be
very clear that what is the vision of the company, this will really very helpful for achieving the
business goals for the organisation. Without identifying the visions we can not even start our
business, because the company is unable to understand what company has to do exactly. This
will also helps in innovation and build the relationship with employee and consumers , and also
gives equal chance to share their opinions and ideas and do participate for developing the
business.
Leadership: Leadership plays a very important role, without the leadership any business
can not achieve the success in the organisation. Every leaders considered as the role model for
achieving the business goals and objectives, there are several types of leadership like autocratic,
participative, democratic and in the terms of F-drones , the business follows the democratic
styles of leadership because this is a free style of leadership traits. Because in this type of
leadership we can openly give ideas to the business and share the opinions without facing any
type of hesitation. So for f-drone this is the best trait of leadership for leading the company and
helps to achieve the company goals and objectives easily.

Culture: As every organisation has its own culture and this has been represents the way
that how the things and work can be done in the organisation. Culture also represents what type
of terms condition, rule and laws everyone follows in the organisation, culture is fluctuating in
every organisation it is the thing that is not same in the different organisation. There is also lots
of difference in every countries culture, so innovations new things and building relationship both
the things can impact the organisation. Also the culture represents the behaviour of the people, so
in the context of F drones innovations, it will always defines the behaviour of the peoples ,idea
and perception,and also what type of innovative idea can work in this business and how it can be
helpful for the organisation and peoples of the organisation. When there is innovative culture
within organisation it creates continuous improvements regardless of directives and this
promotes innovation as regular part of company and build a strong competitive and also
facilitates long term sustainability.
Team work: In organisation team work plays vital role as they help solving many
problems with help of creative idea for completing task according to the planning which has
been done. Innovation is itself a unique process which requires unique skills and abilities and
teamwork in company allow employees to broaden their knowledge and skills and enabling
improvements in working. With support of this employees are able produce more new and
innovative ideas which will going to contribute in the success of an organisation. Innovation and
commercialisation in organisation has been done successfully done when there is effective or
specialised team. In context to f-drones, team has been perform as per the objectives and
provides new ideas and suggestion through which organisation achieve their goals easily and
efficiently(Kergroach, Meissner and Vonortas, 2018).
TASK 2
P3 Explain about the concept of 4Ps of innovation and about the use of innovation funnel in
order to shape innovative ideas
Four Ps of innovation are product, process, position and paradigm innovation that are explained
below in detail as:

Product innovation: This is define as the development of new products, improvement or
changes in to the existing product and services. In addition to this, companies has been also
change or improve raw material in manufacturing process of existing product. This has been
initiated in the company when it want to improve quality of products and services in order to
increase sales and high customers base along with competitive advantage. With the perspective
of f-drones they have been planning to innovate their drones that are going to deliver 100 kilos
over distance of 100 kilometres on ships along with offshore platforms(Pynnönen, Hallikas and
Immonen, 2019).
Process innovation: This has been describe as the execution of new or improved process
in the organisation in which it can includes manufacturing process, techniques, strategies,
software and everything within organisation which going is going to be perform in to accomplish
goals and objectives in a effective manner. Organisation utilized innovation process in order to
aligned their process in customized manner so that for the positi9ve and effective outcomes.
According to the point of ajay, 2020, f-drones has been successfully completed their commercial
BVLOS drone delivery which is the first and has completed in prominent manner that delivered
2kg of vitamins in around 2.7 km in 7 mins to ships. Now they have been improving process
through which they make drones that will be able to deliver 100 kg of Wight in around 100 km
in ships.

Position innovation: It is define as the certain changed which have been induced
through which products are innovate. These changes have take place due to the preceprtion of
people which changes in stipulated period of time. In relation to the f-drone, there are at
beginning stage bit initiated with the change which has been executed in rigid traditional barriers
in industry. It has been analysed that cost and workload get reduced along with better customer
relation (Gabriel,2019).
Paradigm innovation: It is refers to the changes and up-gradation in the technology
which is used by a company in its operations. Is is also describe as the mental model which is
consist of many theories, principles and beliefs. In relation to f-drones company, oil and gas has
bee utilised for their drones and also applying new methods and approaches for subsurface
imaging and geophysical acquisition.
Innovation funnel and its uses
Innovation is refers to the mechanism that reflects constant stream of the idea and
paradigm (Rosemann and Molyneux-Hodgson, 2020). It has been utilised by the company in
order to determine that which idea they have to use for the better and desirable results. This
procedure have been involve three main steps that are mouth of funnel, narrowing the funnel and
narrowed part of funnel. First step mouth of funnel is related to the collection of new ideas as
possible and for this company has been enhance their knowledge and skills and seek for
availableness of information. When there are more idea it is easy for the company to get best
potential outcome or solutions. Moreover, in team of narrowing funnel, ass the idea which are
developed or collect in first step are screened in detail now so that best idea van be get which
perfectly matched with organisational objectives and targets. I addition to this, at last step
narrowed part of funnel, company has been ensured that all screened and selected strategies that
are formulated are going to be applicable in business operations. Innovation funnel is utilised in
organisation in order to ensures that all ideas that are generated leads to successfully
implementation of idea for better result. In relation to f-drones they have been using innovation
funnel in order to ensures the accuracy of various kind of application of technology.

P4 Explain about the developments been done in frugal innovation and provide examples of how
it is used in organisation
Innovation funnel is the procedure of eliminating complexities of goods and services and its
production while implementing new idea(Law, Sarmidi and Goh, 2020). Generally this is define
as the reduction of of non- essential features from the manufacturing process so that reliability of
business can be retain in manufacturing process. Process of innovation funnel is describe as
below:
Find opportunity in adversity: This is the process in which company has been focusing
on determining opportunities in the existing problems so that it leads to enhance in performance
of organisation. F-drones has find the opportunities for the drones that can save the cost as well a
time and required by the commercialising companies.
Use of less perform more: This is the step in which business analytics identifying several
business operations and their resources which are being utilise by the departments in order to
enhance quality of products which are offered at market place. This provides support in to assist
several demand in business so that efficiency of the operations can be improved and retain for
longer period of time. With support of this, f-drones company has equally allocate the resources
to all departments and emphasis the main focus on the coordination between functions that so
waste can be minimize and efficiency will be increase in effective manner.
Think and flexible: In this step all the strategies and policies are determine which are not
flexible and making hurdle in organisation. Business need to implement changes in operational
activities in order to get better productive results. This has been done by evaluating customer's

needs and requirements so that better satisfaction will be provided to them in a appropriate
manner. For the effective implementation of plan into action it is necessary for f-drones company
to make an appropriate and adequate strategies that has been aligned with customer's
requirements such as loading weight on ships is typical task which requires lot of time and cost,
in order to solve this problem company has invented a drone that can deliver 100kg loads to
100km on ships and offshore platform.
Use simple methods: It is the step which stated that all the operations and task is going to
be done in simple manner so that every employee can understand and will able to produce better
outcomes. F-drones focus on using simple methods and techniques so that product can be
developed in proper and will be easy for customers to use it properly.
Include the margin: In this customers has been taken for the process of improvement so
that it will provides support in to completing each task in appropriate manner. With perspective
of f-drones, the company will come to know about various needs and requirements of customers
that help business to run effectively.
Follow your heart: This is the last step of this in which it has been suggested that all the
operational activities has to be completed with passion and emotion so that it can be done in
effective manner.
TASK 3
P5 Why commercial funnel is important and new product development in case of
commercialisation of innovation

Commercial funnel is also known as the sales funnel, the main purpose of commercial
funnel is to change targets customers into permanent customer for organisation (Schot and
Steinmueller, 2018. This is procedure in which revenue of company has b en enhanced by
acquiring new product and new raw material for the further business development. Ait also
provides support to f-drones company through identifying the cost and selling price for their new
or innovative product and services. There are some points which highlight importance for
commercial funnel that has been explained below:
New product development: this has been concerned with the introduction of new product in large
market place. This has been provides support in gaining competitive advantage through
analysing the needs of the current market so that right product can be launch which better satisfy
the need of customers.
Business analysis: in the process of new product development, cost and profit are identify in the
business operation so that research and development department will determine the total risk
which can impact the company's profitability and productivity. For this budgeted profits and cost
sheet will help finance team in to better competing activities.
Market strategies analysis: this is the analysis of market in which they have been determine
various strategies so that effectiveness of promotional and operational activities can be determine
in terms of their budget(Cao, Bryceson and Hine, 2020). The cost is being allocated in each
department through which price will easily be determine that will help in to build good brand
image within market.
Development concept: under this step company has been conduct research in order to identify
the area that need to be improved or change for the development of business, along with this, it
has been also help in to formulate strategies and approaches which leads to the innovation and
advancement in various products.
Idea generation: this is refers to the process of generating new idea in to develop new product in
order to meet customer's satisfaction. In relation to the f-drones in which they have been also
generate new idea for innovating new drones that will lead to ease in delivery of the products on
ships and at offshore platforms which help in to save time and cost of company.

Commercialisation: under this step of new product development, product has been ready for
selling in the large market place or for commercialisation, in context to the f-drones this will help
in to create more new opportunities in terms of generating high revenue.
P6 Explain a innovation business case for the organisation and also include ways to access
funding
Business case: this is define as organised structure document which having task and
various related activities which has been undertaken to implement innovation in business
practices. This is associate with capturing the reasoning in order to initiating project or task.
With the perspective of f-drones company, they have been developing innovation business so
that it can successfully implement a innovative product at market place and commercialised it in
a effective manner. The company has been planning to innovate a drone which can deliver 100kg
of Wight with 100km distance that will going to be named as hyper launch and this will going to
be the most unique and innovative drone in the large market place (Nepelski and Piroli, 2018).
Executive summary: the business case plans has been developed for the new product is included
in manner that will get high level of resources that will help in to develop their policies.
Background of f-drones: the company is specialising in developing and selling world's first
transition drone that is utilise for aerial deliveries to ships and at offshore platforms. The product
which is established has includes the combination of heavy payload and long range of abilities
which is going to be threat for other drones company.