Analysis of Innovation and Commercialisation: Game Group Plc Report

This report provides a comprehensive analysis of innovation and commercialization strategies, focusing on the case of Game Group Plc, a UK-based video game retailer. The report begins by defining innovation and differentiating it from invention, emphasizing its importance for organizational growth and competitive advantage. It then explores how leadership, vision, culture, and teamwork shape innovation and commercialization within a company. The 4Ps of innovation (product, process, paradigm, and position) and the innovation funnel are explained in detail, followed by an examination of frugal innovation. The report further delves into how innovation is developed, embedded, and measured within an organization. Part B of the report provides an overview of the industry and competition, highlighting the significance of the commercial funnel and the application of the new product development process. It also evaluates tools for knowledge management and intellectual property protection. Finally, the report assesses the nature of innovation and how the company can overcome the challenges to develop successful innovations, concluding with key recommendations for Game Group Plc.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
Innovation and its importance and differences between innovation and invention....................1
How organisational leadership, vision, culture and teamwork can shape innovation and
commercialisation.......................................................................................................................1
Explanation of 4Ps of innovation and the innovation funnel......................................................1
Explain the development of Frugal innovation...........................................................................3
How innovation is developed, embedded and measured within the company...........................5
PART B............................................................................................................................................5
Overview of the industry and the competition............................................................................5
Importance of commercial funnel and application of new product development process..........5
Evaluation of the different tool that company use to develop, retain and protect knowledge
and intellectual property..............................................................................................................9
Evaluation of the nature of innovation and how the company can overcome the challenges to
develop successful innovations...................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation and commercialisation indicates to initiating and communicating a wholly
new and innovative business concern thoughts and utilising this thought in business of the
organisation for development so that profitability can be increased of the company. Innovation is
the process of using new thoughts and ideas in the products and services of the company to make
improvement within them and ad value so that consumer attract regarding them (Chun and et. al.,
2015). It is the first phase which is simply a thought that needs commercialism so that better
quality products and services can be produced that assists in gaining more profits in the business
of the company. With the help of commercialisation procedure new and innovative goods and
services are manufactured by the company and introduced to the marketplace.
The organisation make innovation in their business because it help in maximising the
customer base, business expansion, gaining competitive advantages and others. This assignment
is based on Game group Plc which is a UK based video game retailer and was established in
1992 by Terry Norris and Bev Ripley. This firm was headquartered in Basigngtoke, UK and
operated its business UK, Spain and Sweden with the help of its number of stores. The firm want
to make innovation in its business with the aim of maximisation in the gross sales of the
establishment. To interpret the conception of creation and development, in this project
innovation is explained and how it is different from creativeness is determined. Several kind of
creations are defined with activity needed to commercialise creation in the project. Apart form it
different methods for protecting thoughts and their benefits and drawbacks will be explained in
this written document.
PART A
Innovation and its importance and differences between innovation and invention
The aspect of innovation is refer to an activity or procedure of an organisation to introduce new
or novel product and service within an existing commodity or marketplace. The adoption of this
concept plays a vital role in an establishment as it lead them to gain competitive advantage in an
innovative and creative style. Along with this, it generate increased level of values and empower
company to enhance its revenue (Oskam, 2016). The core feature of innovation is to identify the
customer trend or demand and based on that taking corrective course of action help firm to
acquire high level of satisfaction in a better manner. Furthermore, it also benefit establishment to
1

determine the changing facts of business environment and also empower them to deliver best
quality products within the marketplace. In regard of Game Group PLC, it is a well established
organisation in UK industry. Hence, in order to enlarge its market share or size, it's manager take
an initiative in introducing the new game application as the demand of game has been arising
among the population of UK. The primal function of this game is that it more effective and
interesting that help firm to capture the attention of large number of population towards the
brand and also can improve the customer base in an trenchant mode.
On the other hand, the term invention introducing something new which is not available
in the market (Paradkar, Knight and Hansen, 2015). Foe attaining the same, company develops
fully novel ideas or views which cannot be modified or altered and it sustain within the market
for longer time duration. Whereas, an organisation can implement innovation according to
market trend or demand for obtaining profit maximisation in an expeditious mode.
Importance of Innovation over Invention is defined as follows
Continuous Improvement: One of the foremost function that an organisation obtain due
to adoption of innovation is that it help them to apply relevant improvement on continuous basis.
In regard of Game Group PLC, the aspect of innovation enable them to attain improved level of
sustainability that assist them to repacking, re branding the existing game application. On the
contrary, invention only provide one time success and if an establishment desire to keeps the at
success for longer time then they have to process invention on continuous basis.
Strengthen brand name: The another rationale that drive Game Group Plc to implement
innovation within its functional unit is that it lead them to accomplish impressive level of growth
and also help them to enrich its brand name among competitors. While, through innovation
Game Group Plc can acquire continuous improvement as per industry competition and that is not
possible with invention.
React to competition and trends: With the application of innovation in Game Group
Plc, it aid them to make best strategies to cope up with current or emerging trend that lead them
to enrich is competent potentiality (Rasmussen and Eliason, 2017).
Difference between Invention and Innovation
Basis Invention Innovation
Meaning It is concern with those aspect Innovation defined as
2

which refer to an activity of
introducing new concept or
products that has been
developed any other company.
implication of a new idea in a
product the existing product
and service.
concept Invention is related with a
original idea and is a work of
detailed research.
Innovation there is addition of
value to existing product or
service offered by a
organisation.
Skills required There is requirement of
scientific skills and knowledge
in case of invention and is
usually a long procedure.
In innovation there is use of
technical, strategic and
marketing skills in order to
implement the new innovative
procedure by a organisation.
Product Invention is concern with a
singular product or service.
In innovation there is a
combination that consist of
different process or products.
How organisational leadership, vision, culture and teamwork can shape innovation and
commercialisation
In order to achieve long term success and development, an organisation requires effectual
vision, teamwork, leadership and culture that lead them to gain competitive advantage (Schmitz
and et. al., 2017). Hence, these factors has direct link with Game Group Plc innovation and
commercialisation which are explained below:
Vision: It is the statement that guide or direct an establishments to achieve its long term
pre determined goal within prescribed time limit. IN context of Game Group Plc, it develop a
productive vision statement that motive them to evaluate the industry trend and also encourage
company to bring innovation that improves its commercialisation procedure. Vision of this
organisation is based on achievement of their overall objectives in the provided time frame that
can be used for the purpose of implementation of new innovative procedures.
3

Vision is the statement that guide or direct an establishments to achieve its long term pre
determined goal within prescribed time limit. IN context of Game Group Plc, it develop a
productive vision statement that motive them to evaluate the industry trend and also encourage
company to bring innovation that improves its commercialisation procedure.
Leadership: Under this component, it assist Game Group Plc leader to inspire or
motivate its employees towards imposing a best effort. Hence, there are various types of
leadership style such as participative, democratic, autocratic. Therefore, adoption of suitable
leadership style help company to enhance the overall profitability ratio by implementing best
innovation and commercialisation.
Leadership is a component, it assist Game Group Plc leader to inspire or motivate its
employees towards imposing a best effort. Hence, there are various types of leadership style such
as participative, democratic, autocratic. Therefore, adoption of suitable leadership style help
company to enhance the overall profitability ratio by implementing best innovation and
commercialisation.
Culture: In this determinant, Game Group Plc manager create better working
environment that empower them to bring innovation into is functional unit and also help them to
enrich its commercialisation among competitors. by them regarding innovation, will help in
offering favourable outcomes in context of their business concern or not. It will lead the
administrators to form modifications in the business model so that new commodities can be
produced.
Culture is a determinant, Game Group Plc manager create better working environment
that empower them to bring innovation into is functional unit and also help them to enrich its
commercialisation among competitors.
Teamwork- When al the workers working in GAME at diverse extents execute their
portion and activity as a group then it direct to increase options of growth for new creation
(Shaw and Hess, 2018). Effective group will assist in informing creation in such mode that aims
for sustainability is accomplished. Team work is used for the purpose of dividing the whole work
in smaller sections that can further be used for completion of task in specified manner. In GAME
managers and leaders will be creating various groups for addressing of task that are related with
achievement of overall objective of innovation.
4

5

Explanation of 4Ps of innovation and the innovation funnel
4Ps of innovation
Innovation is the combination of four diverse factors which are known as 4Ps of
innovation like product, process, paradigm and position (Frésard, Hoberg and Phillips, 2015).
The model of 4Ps is framed by John Bessant and Joe Tidd in reference to assist organisations to
observe the growth options to launch creations in the marketplace and develop the business of
the firms. In GAMW, the management of the company is suffered with problem of lack of sales
so for maximising the sales of the establishment the administration of the organisation
determined to make innovation in its business through virtual reality so that people can take the
advantages of new technology in their new video games products (Greenstein, 2015). The 4Ps of
innovation are defined as beneath in context of GAME is as follows:
Paradigm- It is the first factor of innovation mix which assist to monitor the manner in
which creation are framed by the organisation to make development in the business of the
company as well as its growth. Paradigm is related with bringing changes in the exiting business
procedures of a business. It is related with how a business model has to be changed for
leveraging of overall profits. During the time of applying this factor, the administration of
GAME is needed to make sure that the determination which is devisedIn order to achieve long
term success and development, an organisation requires effectual vision, teamwork, leadership
and culture that lead them to gain competitive advantage. Hence, these factors has direct link
with Game Group Plc creation and development which are explained below:
Product- It is other factor of innovation mix which indicates to the services and products
which are manufacture by the company to fulfils their needs so that they can provide satisfaction
to their desires. In most of the cases innovation is being brought fir bringing positive changes in
a particular product or services. While using the ides of virtual reality in Video Game, it is
crucial for the organisation's administrators to assure that the concept which are going to use will
be effective and help the company in maximising the sale of the firm. The managers should also
make sure that will be able to maximise the customer base in term of attracting them regarding
this innovation.
Process- It refers to the activity which is utilised to produce goods is also needed to be
monitored during the time of planning for creation. With the assistance of it the administrators in
GAME are needed to assure that they precede effective procedure to launch and manufacture
6

Game product affiliate with virtual; reality. In this step overall procedure of preparation of
product is there. It includes overall procedure which Consist of functions such as hiring of
workforce, supplying of materials, providing training and making employees explain what work
has to be performed.
Position- It is the last component of innovation mix in which the domain that is
referenced to inform the creation is centred. Game is designing to manufacture its new game
product which are affiliate with virtual reality technology so it is crucial for the administration of
the firm to ensure that it convey about the game with its target audiences effectively (Hossain
and Kauranen, 2016). overall position is related with how everything is being communicated to
stakeholder who are getting affected by the innovation. Such as employees, customers etc. It will
assist to place new goods in minds of customers in successful manner.
Innovation funnel
It is an activity which is utilised by the company to germinate a new product at the
marketplace so that the firm can attain its desired growth in forthcoming. As a new game will be
actuation by GAME in the marketplace so it is animated for the administration of the
organisations to go through all the phases of this process so that they can have information that
the new thought and idea can accomplish success (Hossain, 2015). The three steps of innovation
funnel are described below in term of GAME:
Investigation- It is the first phase of this model in which the managers of the company
will monitor the market conditions in context of frame new thought in order to make innovation
in GAME's products. In this step, various opportunities are analysed by the management and
then one of is chosen to make creation by monitoring that it will help in increasing the sales.
Making development- It is the nest step of innovation funnel where the marketplace is
formed in which target market for the actuation of new goods is monitored. The administrators
in GAME will monitor the market and the chose one of area where new game related to virtual
reality will be launched for the very first time.
Delivering products- It is the last phase in which administrators of GAME will ship the
new game at the marketplace with the motive of maximising sales by getting attention of number
of customers. Before communicating the product publicly, it is important for the organisation to
assure that it will assist the business to accomplish success and growth & development in the
business.
7

Innovation funnel:
Innovation Funnel
It is a method which is utilised and applied by the companies to assess scrrened for
practicality. The innovation funnel is implemented in GAME firm by funnel management
procedure which assists company to make a creation and practical plan into action plan. As a
thought which is offered by innovation funnel will be measure on all points that will assist it to
become manageable in existent terms (Lemley and Feldman, 2016). Virtual reality affiliated
game is a idea and innovation funnel will assess whether it is potential to offer such kind of game
or not. It enable in reducing chances of failure for any new creation.
 Mouth of funnel: In this fist step there is a responsibility of organisation to gather
maximum number of ideas. In this stage organisation is willing to expand their source of
knowledge and information. In this step, GAME will be willing to analyse the sources
from which ideas can be gathered. After making analysis of the market it has been find
out that there is a requirement for launching of a new game.
 Narrowing of funnel: In this step of Innovation funnel, the ideas that has been
developed by organisation have to be screened. The process of screening of comparison
of ideas with overall gaols of the organisation to make sure that such step are adding
value to overall functions of the organisation. In this step concern management will be
screening if the new idea based on various external and internal factors that can poses
impact on the viability and feasibility for the organisation.
 Narrowed part of funnel: In this step organisation make sure that ideas are in tune with
the overall objective of company. For Game, after the ideas have been properly compared
then there will be a final check where it is made suer that ideas are with tune for the
organisation as a whole and does not contradict with laid organisational objectives.
8

Explain the development of Frugal innovation
Frugal innovation
It is process which is concentrated by large and small business organisations with the
motive of making decrement in the reimbursements, manufacturing and complexities in business
activities. These are executed by determination of unnecessary characteristics from the products
which are sold to the target audiences (Hrdy, 2015). With the assistance of it, the cost of the
goods can be minimised and finance can be reclaimed for making other modifications in the
business of its procedures and maximising the progress and success through getting attention of
large number of customer and maximising the sales.
It is utilised by number of organisations with the object of increasing the sales and profit
margins ratio by forming modifications in their business activities and actions or determining
some of the non required features for the old products of the respective company. The
management of the company is deciding to launch a new game which is affiliated with virtual
reality at the marketplace (Kolychev, and Prokhorov, 2015). The company is planning to ship a
new game in the market and for the purpose of regarding it to maximise the sales of the
company. For instant, the management of the company developed this kind game so that the
customer can take benefits and fulfil their needs and by producing these kind of goods, the firm
can offer then new experience to the users. This new innovation or creation will be effective
because it will help the company in gaining large profits and increasing sales.
9

There are certain aspects that have to be considered by management of a organisation while
adopting frugal innovation as discussed below:
 Finding of opportunity: In this step, anything that is a threat to a organisation is
concentrated into a opportunity, basically there is a analysis of opportunities with a
organisation is analysed din detail and is further used for converting it into a innovation.
In Game there is a opportunity as a consumer demand is analysed by the organisation for
game that can be converted into business.
 Acting flexibility: In this step effort will be made by the organisation that all the
functions associated with the Prosser has to be kept simple so that overall procedure can
be undertaken with having cost effectiveness. In Game PLC this function will help in
adoption of effectiveness in overall functioning of the organisation.
Functions of frugal innovation
Frugal innovation assist in informing a process that remove and minimise the
complexities and expenditure of a product and its manufacturing. When GAME, introduced
virtual reality technology constructed games, the frugal innovation will be applied so that non
required characteristics for game can be remove with the motive of minimise the finance and
intensifying value for the products to potential clients. When complexness in the creation is
reduced then it developed chances by which a creative thought can be taken to real world
(Kuratko and Hoskinson, 2016). In addition to it, minimised cost will provide GAME Group Plc
more options to become successful.
How innovation is developed, embedded and measured within the company
Innovation in terms of company is formulated by raising finance in thought creation,
processing profound user apprehension. In addition to it, this appropriative civilization in
organisation and efficacious origins will be utilised to evaluate the thought entirely that needed
for its improvement. For example, creation is evaluate by key execution indicator to analyse the
execution of the company before and after communication about the new progressive thought.
Innovation is embedded in the firm framework by setting up a positive business framework fro
innovation.
10