Innovation Strategies and Business Analysis for 4Com Plc Report

This report provides a comprehensive analysis of innovation strategies within 4Com Plc, a telecommunications company based in the UK. It explores the significance of innovation in the enterprise, examining how vision, culture, teamwork, and leadership shape the innovation process. The report delves into the 4Ps of innovation (Product, Process, Position, Paradigm) and the use of the innovation funnel to generate innovative ideas. It further investigates frugal innovation and its application within organizations. The analysis extends to the importance of the commercial funnel and the application of new product development for innovation, including the development of an innovation business case. Finally, the report discusses various tools for developing and protecting intellectual property within the enterprise. The report highlights the importance of innovation in enhancing productivity, improving communication, optimizing resource utilization, and gaining a competitive advantage. It also differentiates between innovation and invention, and explores the impact of leadership, organizational culture, teamwork, and vision on the innovation process within the organization. The report provides a detailed overview of the challenges and opportunities that 4Com Plc faces in its innovation journey.

Innovation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Innovation and its significance in enterprise....................................................................1
P2. The way vision, culture, teamwork and leadership of enterprise shape innovation.........3
TASK 2............................................................................................................................................4
P3 4Ps of innovation and use of innovation funnel to shape innovative ideas.......................4
P4 Development in frugal innovation and its use in organisation..........................................5
TASK 3............................................................................................................................................5
P5 Significance of commercial funnel and application of new product development for
innovation...............................................................................................................................5
P6 Innovation business case for an enterprise........................................................................7
TASK 4............................................................................................................................................8
P7 Various tools that can be used by enterprise to develop and protect intellectual property8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Manufacturing products that fulfil needs of consumers is the main aim of organisations
where innovation plays a vital role for them. It is being analysed that both innovation and
inventions differs from each other in context to business companies but works in a same manner
which is enhancing sales of products and services. With the help of this, a company can
improves both profitability and productivity both at the same time (Anderson, Potočnik and
Zhou, 2014). Along with this, when an enterprise adopts innovation process at workplace their
motive is to deliver quality products to consumers so that attention of them can be grabbed for a
life time so that they can generate revenue at maximum level. Under this assignment, firm which
has been chose i.e. 4Com Plc which is registered under federal governmental agencies of United
Kingdom. Delivering telecommunication facilities to consumers is the main service that they
provide like they manufacture electronic items, softwares and many more. Assessment will
include various things like, reputation of innovation in business world, 4P’s of innovation and
long with problems that can be faced by organisations while adopting innovative process at
workstation.
TASK 1
P1. Innovation and its significance in enterprise
Making alterations under a product which was already existed at marketplace and which was
fulfilling needs of consumers but to enhance it can be understood as innovative process at
business world. In modern era, every single organisation looks forward to grab high number of
consumers so that profit can be maximise. This can be done through taking under the process
named as innovation. With the help of this, a company can better know about tall the needs and
wants of consumers that they have. In order to do this, it is must of manager of a company to first
analyse the market, locate all the trends and then take initiatives like adopting new technology
(Rosenbusch, Brinckmann and Bausch, 2011). Under this assignment, organisation which was
taken under that is 4Com Plc and it is of United Kingdom. It has been analysed that company
manufactures products with taking under innovative process as they already know about the
concept that if they want to sustain at marketplace for a longer period of time it is must for them
to keep on fulfilling needs of consumers and this can only be done through delivering products
according to their demands. But, it has also been located that customer’s requirements carries a
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keep on changing behaviour which directly puts impact on both productivity and profitability of
a firm. In context of present report, there are ample number of importance that innovation has in
business environment and some of them are discussed beneath:
Increase productivity of the company: Productivity of 4Com Plc can be enhanced by
utilising real connect which is related to innovation. Through this, it has been located that
company when consider innovation in existing products and service, it directly catches eyes of
consumers towards goods and this can be stated as an ultimate process of enhancing
productivity.
Increase effectiveness of communication process: Communication in between both
employers and employees plays vital role when it comes to enhance sales of products and
services that are being offered by companies at marketplace of United Kingdom (Metcalfe and
Miles, 2012). Innovation function can directly be added at workplace where there will be
effective communication will be their among staff members and managers.
Aid in optimum utilisation of available resources: it has been analysed that there are
limited resources left in the world. Therefore it is required for Firms to keep on Looking into
different aspects that are related to innovation as this may aid an organisation to reduce all the
reduce waste material. help in increasing the chances of improving production process.
Optimum utilisation of raw materials and other resources can be done if innovation will take
place at organisation in an appropriate sense.
Provide competitive advantage: 4Com PLC is being stated as an organisation that
continuously update all the technologies that are being used in order to deliver services to
consumers (Manso, 2011). Through this it has been located that company can give good rivalry
to competitors at Marketplace of United Kingdom. It is very much required for this company to
keep on looking into different aspects like updated tools that are being used by competitors.
Away with this there are ample number of differences that both innovation and invention
carries and some of these are given below;
Basis Innovation Invention
Meaning In business environment making
modifications in a product that
already existed in market place
and which was already fulfilling
Building a whole new product
which was never been built
before this can be considered
as invention process.
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needs of consumers can be known
as innovation process.
Concept Innovation brings in improvement
in quality of products that are
being manufactured by the
company
Creating a product which was
never been built before.
Skills Use of new and updated
Technology can help an
organisation in manufacturing
products with innovation that are
already at market.
Invention can be brought in by
company through scientific
formulas and ideas.
Activities Enhancement of scales
productivity and other things can
be done through innovation.
Most of organisation and not
being able to adopt this sort of
process because it requires
huge funds.
P2. The way vision, culture, teamwork and leadership of enterprise shape innovation
4Com Plc, carries innovative ideas which is helping them in delivering products and
services to consumers according to their needs and priorities. There are many things like vision
culture team leadership can be considered as some major points which needs to be properly
taken care by an organisation so that to deliver appropriate goods and services to customers in
given time of period (Lundvall And et. al., 2011). Therefore, if organisations will keep on
looking into these aspects of actors then possibilities are there that company will give good
rivalry to competitors. Apart from this it has been located that companies should keep changing
all of these things in order to better serve to the consumers.
Leadership and innovation: leaders at workplace are being considered as main person is
because they are the one who directs supports and does other things that are related to like
decision making process are being given by the board of directors of a company. Along with this
it has been located that leaders are the one who helps employees through many ways like
delivering information to employees like updated technology changes in taxation policies and
other things.
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Organization culture and innovation: culture at workplace plays an important role because
it has been located that there are people like employees may follow different cultures which may
put impact on employee relations of the company. Targets of company will only get attained
right on time if there will be no issues among staff members and managers of a company. On the
other hand innovation belongs all includes very short of steps which needs to be considered by
Business organisations in an appropriate chance so that that can be developed in an appropriate
sense which is necessary for a firm.
Innovation and teamwork: Another element which is related to innovation is teamwork
and this plays Vital role when it comes to achieve all the goals and objectives that a company
desires to have (Jiménez-Jiménez and Sanz-Valle, 2011). If team will be efficient in nature then
it is maybe possible that form will directly attain all the goals and objectives in short period of
time with the help of innovation process.
Vision and innovation: Under this vision explanation of the organization characterize future
perspective where organization needs to see itself. As it is essential factor which to a great extent
influence the whole procedure of advancement. Furthermore of this, powerful vision of the
organization helps in enhancing the procedure in which organization effortlessly accomplish set
objectives and destinations in fitting time allotment.
Along these lines, all these are critical components which influence the inventive procedure
with the goal that it is essential for supervisor to viably execute for lessening the odds of arsing
any sort of issues. What's more of this, supervisor should roll out vital improvements which h
leads in accomplishing higher productivity level at commercial center. With the assistance of
this, 4Com plc effectively create and also convey quality items to its objective clients which may
specifically contribute in accomplishing upper hand frame its opponents.
TASK 2
P3 4Ps of innovation and use of innovation funnel to shape innovative ideas
In order to improvise all the performance of the organisation it is must for managers and
leaders to understand about food please open Innovation and taken under in use of innovation
funnel so that to bring up all the innovative ideas in front of them so that to achieve all the goals
and objectives right on time. Customers are consist with various requirements which every
single organisation needs to fulfill if they want to sustain at market place for a longer period of
time for way of United Kingdom. Along with this it has been located that innovation process
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and application of it is not an easy task therefore it is required for companies to hire specialist so
that they can give information to company if the innovation will enhance productivity and
profitability of organisation or not (Gunday and et. al., 2011). 4Com Plc needs to look into 4 Ps
of innovation and these are given beneath:
Product: a product is being manufactured in order to fulfill all the needs and wants of
consumers that they have. It is being located that these products are of two types and these are
tangible and intangible in nature. In context of present case study company is delivering
telecommunication services to customers an hour enhancing their number of customers through
various manners. .
Process: disruptive innovation involve proper structure that needs to be followed by a
company while taking under innovative process at work station in order to enhance sales of
products and services. HR department IT Department and other sectors of a company needs to
stay connected to each other while bringing in innovation process at work station.
Position: under the salt of factor of innovation which is filled with various sort of
communication tools that needs to be taken care by managers and leaders of a company while
developing a proper plan of bringing and innovation at workplace (Boons and Lüdeke-Freund,
2013). For this 4Com plc utilize computerized and print media to give significant data to packs
clients towards organization items.
Paradigm: Under this, it alludes to include something new in existing items to welcome and
pull in bigger number of clients which may leads in expanding benefit level.
Use of innovation funnel to shape innovative ideas
Innovaat channel is one of the viable procedure through which organization effortlessly
execute thoughts from genuine for delivering quality items to furnish bigger number of clients
with the point of fulfill their necessities. Fundamentally, the principle reason for this pipe is to
adequately break down the market patterns which may helps in offering included items. In
setting of 4Com plc, organization additionally attempt a successful research to decide clients
requirements for satisfying their prerequisites in suitable way.
P4 Development in frugal innovation and its use in organisation
Cheap development strategy is utilized as a part of distinguishing whether advancement in
items is useful in finishing wants of an organization. This technique is likewise useful in making
adjustments effortlessly of generation (Breznitz and Murphree, 2011). It gives different chances
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to an organization to catch eye of clients in an expansive way. This strategy help firms in
building up its items in more sparing way. In setting with 4Com Plc. it shows this organization to
fabricate items according to request of focused clients on sensible rates. The methodology of
economical development can be assessed in following way:-
• Identify openings in affliction: Under this phase of economical development, a trend-
setter needs to discover issue happen inside business structure in an appropriate way. It will give
them chance to discover arrangement and improve changes in way.
• Do more with less: This stage expresses that for settling issues happened inside
association, supervisors are expected to make legitimate research and break down components
through which better adjustments can be made (Gunday and et. al., 2011).
• Keep it basic: It infers that issue resolvers must utilize basic techniques for
giving better arrangement. As multifaceted nature expends much time and
may create mistakes in doing as such.
TASK 3
P5 Significance of commercial funnel and application of new product development for
innovation
It has been located that commercial final can be taken and reason used by organisations
when it comes to enhance profitability and productivity ratio of the company. Basically,
in Modern era every single organisation is looking forward to develop proper plans and
strategies so that to Grab attention of customers in ample numbers so that repetition of
them can be enhanced AC market place of United Kingdom. On the other hand, this sort of
technique is also fragile in nature just because implementation of this strategy can be more
confusing for business person while adopting it at workplace.
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New product development
In today’s world, building up a whole new product requires many efforts in order to
enhance profitability ratio of organisation. Along with this process of inventing a product or
innovating on it requires time and money as well at the same time which mostly has been seen
that companies in today’s world cannot afford (Breznitz and Murphree, 2011). Does there are
few shots of concepts that are building with innovation that needs to be taken care by managers
and leaders just because through this long term relationships with consumers can be made. Some
of steps and others are given below:· Idea generation: business person who is looking forward to enhance profitability and
productivity both at the same time it is must for them to look into different aspects and
then plan for organisation to develop a proper product.· Idea screening: 2nd phase where company looks into different ideas and select the best
one which will directly put positive impact on both profitability and productivity of
them .· Concept development: concepts of being developed after when organisation select the
best approach of enhancing reputation of the company at market place of United
Kingdom.· Development of strategy: when concept of development is being understood by business
person in an appropriate manner then this sort of face comes in front where business
person needs to develop a whole new strategy in order to manufacture products and
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services with innovation (Gennaioli, Shleifer and Vishny, 2012).· Examine business condition: this is being considered as the last stage where
entrepreneur does evaluate all the business Trends and conditions and technologies that
are being used by competitors and then after that adoption of proper Technology takes
place when organisation utilizes all the business resources it carries in order to improvise
its reputation among society.
P6 Innovation business case for an enterprise
4Com Plc works and telecommunication department and carries ample number of
products and also keeps on offering different discounts and offers on its goods. Recently it has
been located that company manufactures mobile phones and they have added some sort of
modifications in their products which makes them different from other organisations that are
doing business in same department (De la Mothe and Paquet, 2012). On the other hand it has
been located that business plan also keeps on getting changes according to the needs and wants
of customers is because if their requirements are being fulfilled in an appropriate manner by
managers and leaders of a company then it is maybe possible that form will gain competitive
advantages at market place of United Kingdom.· Executive summary: 4Com Plc’s my name is to manufacturer and deliver best quality
products to its consumers so that sustainability of the organisation can stay strong for a
longer period of time (What is innovation? 2011).· Target: this company have already grabbed a good position in market place of United
Kingdom but it has been also located that in order to do business for a longer period of
time they have to deliver products like good quality in nature and unique features which
fulfill all the requirements of consumers in an appropriate sense.· Solution: offering phones to consumers with Easy Touch and simple applications may
help them in sustaining at market place for a longer period of time. This can be done
through locating all the requirements that an individual carries on a regular basis (Cross,
2011).· Why product is innovative: as technology is developing day by day so that competition
is also rising in a rapid manner. Therefore it becomes vital for this company to develop
its products and services with innovative ideas so that rivalry can be given to them in an
appropriate sense and through this profitability can be raised in an effective and efficient
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manner.· Customer research: 4Com Plc’s Research and Development Department should be
properly filled with strategies while analysing all the data that has been carried by them
in order to understand the requirements of consumers. Survey under this plays an
important role where managers and leaders can ask questions from selected respondents
in order to know about their perceptions and with the help of this they can make effective
decisions which will directly put impact on their profit ratios and this impact will be
positive in nature (Brynjolfsson and McAfee, 2012).· Funding: it has been located that innovation may bring positive changes within an
organisation but to adopt this it is must for Company to give all the information to
people who are willing to invest in the company just because investors also plays an
important role when a company looks forward to make any changes in products and
services that have already made in existence in market place of United Kingdom.
TASK 4
P7 Various tools that can be used by enterprise to develop and protect intellectual property
Protected innovation incorporates impalpable results So that organisation can sustain at
marketplace for a longer period of time. As far as association, business investors have different
thoughts for running business in an immaculate request. They utilized these thoughts at whatever
point organization confront a type of issues (Brown and Osborne, 2012). Along these lines, they
are required to keep considerations and procedures from being grabbed by contenders. Business
visionaries can secure thoughts or impalpable items by utilizing scholarly rights. This factor
indicates essential privileges of a man for his protected innovation. These rights keep their
development from others as without authorization of them no one can utilize the same. In the
event that anyone has gotten to utilize others procedures or thoughts then they will be lawfully
punished. In setting with 4Com Plc., it can utilize these rights in following way:-
• Professional help: It is a standout amongst the most usable procedure which offers rights
to people to spare their thoughts and methodologies in appropriate way. For this procedure,
trailblazers are expected to enroll claim name against manifestations. This strategy gives them a
secret key which they can get to whenever as it spares the same from others.
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• Trademark: It is an extraordinary sort of logo, sign or configuration utilized by
organizations to separate items from others. It encourages clients to effortlessly separate products
as far as brand picture and can buy according to decision (West and Bogers, 2014).
• Patent: This sort of licensed innovation procedure, offer rights to a man to secure
imagination from others in a legitimate way. It gives patent ideal to makers for no less than
20 years which can be reached out according to request of them.
CONCLUSION
As per above mentioned Report, it has been that innovation bring so many changes within
an organisation. Satisfaction to consumers, rivalry to competitors, effective use of funds
utilisation of updated Tools and techniques are some sort of things that helps company in
attaining all the goals and objectives. Apart from this it is necessary for manager of company to
allocate all the task two staff members according to their capabilities. All of these things are
being done in order to improvise both productivity and profitability of business organisation.
Along with this reputation at market place can also be improvised in an appropriate sense.
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REFERENCES
Books and journals
Anderson, N., Potočnik, K. and Zhou, J., 2014. Innovation and creativity in organizations: A
state-of-the-science review, prospective commentary, and guiding framework. Journal
of Management. 40(5). pp.1297-1333.
Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-the-
art and steps towards a research agenda. Journal of Cleaner Production. 45. pp.9-19.
Breznitz, D. and Murphree, M., 2011. Run of the red queen: Government, innovation,
globalization, and economic growth in China. Yale University Press.
Brown, K. and Osborne, S. P., 2012. Managing change and innovation in public service
organizations. Routledge.
Brynjolfsson, E. and McAfee, A., 2012. Race against the machine: How the digital revolution is
accelerating innovation, driving productivity, and irreversibly transforming
employment and the economy. Brynjolfsson and McAfee.
Cross, J., 2011. Informal learning: Rediscovering the natural pathways that inspire innovation
and performance. John Wiley & Sons.
De la Mothe, J. and Paquet, G. eds., 2012. Local and regional systems of innovation (Vol. 14).
Springer Science & Business Media.
Gawer, A. ed., 2011. Platforms, markets and innovation. Edward Elgar Publishing.
Gennaioli, N., Shleifer, A. and Vishny, R., 2012. Neglected risks, financial innovation, and
financial fragility. Journal of Financial Economics. 104(3). pp.452-468.
Gunday, G. and et. al., 2011. Effects of innovation types on firm performance. International
Journal of production economics. 133(2). pp.662-676.
Jiménez-Jiménez, D. and Sanz-Valle, R., 2011. Innovation, organizational learning, and
performance. Journal of business research. 64(4). pp.408-417.
Kleinknecht, A., 2016. Innovation patterns in crisis and prosperity: Schumpeter’s long cycle
reconsidered. Springer.
Lundvall, B. Å. And et. al., 2011. Handbook of innovation systems and developing countries:
building domestic capabilities in a global setting. Edward Elgar Publishing.
Manso, G., 2011. Motivating innovation. The Journal of Finance. 66(5). pp.1823-1860.
Metcalfe, J. S. and Miles, I. eds., 2012. Innovation systems in the service economy: measurement
and case study analysis (Vol. 18). Springer Science & Business Media.
Rosenbusch, N., Brinckmann, J. and Bausch, A., 2011. Is innovation always beneficial? A meta-
analysis of the relationship between innovation and performance in SMEs. Journal of
business Venturing. 26(4). pp.441-457.
West, J. and Bogers, M., 2014. Leveraging external sources of innovation: a review of research
on open innovation. Journal of Product Innovation Management. 31(4). pp.814-831.
Online
What is innovation? 2011. [Online]. Available through:
<http://www.innoviscop.com/en/definitions/process-innovation>.
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