Innovation and Commercialisation Report: Bentley Car Company Strategy

This report provides a comprehensive analysis of Bentley's innovation and commercialization strategies. It begins by defining innovation and its importance, contrasting it with invention, and highlighting its role in reinforcing brand image and organizational growth. The report then explores the organizational vision, leadership, culture, and teamwork that shape innovation and commercialization within Bentley. It examines various sources of innovation, including the role of leadership in fostering creativity. The report delves into the 4Ps of innovation, the use of the innovation funnel, and developments in frugal innovation. A significant portion of the report focuses on the commercial funnel, the application of New Product Development (NPD), and the development of an innovation business case for Bentley, specifically for a fingerprint car door lock. Finally, the report discusses tools for developing, retaining, and protecting knowledge and intellectual property, concluding with an evaluation of these tools. The report is structured to provide insights into Bentley's approach to innovation and its commercial application, offering a practical business perspective.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Describe about the innovation and determine the importance of organization......................4
P2 Explain about organizational vision, leadership, culture and teamwork which shape
innovation and commercialisation..............................................................................................5
M1Examine different sources of innovation, and how organisations can foster and develop an
surroundings and culture of creativity.........................................................................................6
P3 4Ps of Innovation and the use of innovation funnel..............................................................8
P4 Developments in frugal innovation with examples...............................................................9
M2 Apply innovation funnel in organisation context...............................................................10
M3 Function of frugal innovation.............................................................................................10
TASK 3 .........................................................................................................................................11
P5 Importance of commercial funnel and application of New Product Development (NPD)..11
P6. An innovation business case for an organisation................................................................12
M4. Innovation business case which consist how to evaluate its over all effectiveness...........13
TASK 4..........................................................................................................................................14
P7. Different tools that organisations can use to develop retain and protect knowledge and
intellectual property..................................................................................................................14
M5. Evaluation of different tools..............................................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Innovation is the process which converts idea, research which create value for the
customer. In other words, innovation involve deliberate application of information, imagination
and initiative to achieve desire goals and objectives in a well define manner (Gabriel, 2019). In
business, innovation often result when the idea is applied to the company in order to satisfy the
needs and expectation of the customer. Commercialization also involves formulating effective
manufacturing and supply chain strategies, devise method to improve efficiency which help in
making cost efficient product and service for end user. The present report is based upon Bentley
which is an luxury car and SUV manufacturing company. Its headquarter is located in Crewe
England and it was founded by W.O Bentley in 1919. Company have different product which
include Flying spur and Mulsanne. Furthermore it provide detail information regarding
innovation and invention as its important aspect to achieve desire gaol effectively. Apart from
this, organizational vision and leadership help in shaping the leadership innovation in a well
define manner.
TASK 1
P1 Describe about the innovation and determine the importance of organization
Innovation: This is a method which is used for generating unique and creative idea
through which company provide efficient service which act as an motivation factor to for gaining
success in the market. With the assistance of innovation company can capture large marker share
and also help in building brand image in the minds of consumer.
Inventions: It is totally different from innovation as introduces something new based
idea which is developed to attract large number of audience. With the assistance of invention
new product in launched in marketplace. This bring success and assist in creating value for the
product and for longer time duration. For example introducing electric vehicle is consider as the
invention which leads to minimize the cost and and shape the future as per the needs and wants
of respective customer.
Importance of Innovation over Invention
Reinforce Brand : The company brand plays essential role in capturing large market
share. This process reveals information to help leaders to learn other way to be more innovative.
This is essential for organisation because this is consider as the major driving forces to achieve

the success. Apart from this, it provide organisational sustainability which include brand
appreciation and recognition in business world.
Help organisation grow: As per the name suggests, this aid in expanding business and
help in expanding and grow in a effectively manner. Innovation provide constant growth by
fulfilling the needs as well as requirement of the company. However this also reduce theft and
risk of rivals present in market as innovation provide unique product which create different
selling point for company.
Create Unique selling point: Usually consumer see innovation include such things
which have some different value in product or a company. Innovation if used right it provide
advantage to company mainly in the market which is saturated or shifting rapidly as per the
changing environment.
Difference between Invention and Innovation
Basis Invention Innovation
Meaning This refers to an idea or new
strategies for that commodity
which has been launched or
introduced in present in the
market (Çengel, 2019).
This is the process which help
in creating new ideas for
implementation on the exiting
product and service.
Concept This is uses in different
organisation to provide better
services to consumer.
This help in adding value in
the product and increase its
value.
Activities It is limited to research and
development.
These are spread across entire
organisation.
P2 Explain about organizational vision, leadership, culture and teamwork which shape
innovation and commercialisation
For every organisation sustainability and growth are the prime motive to achieve in a
specific time period. Implementing new innovation in Bentley will require the support of all the
employees working at the different level which help in achieving desire outcomes effectively.

There are different factor which help in achieving desire outcomes which is essential for the
company which help in making different factor for the company.
Organisational vision: It inspire action which pulls out the idea and other resources
which is essential for the company to achieve the desire outcomes. Some of the companies use
vision as communication tool to achieve the desire goal and objectives. Apart from this, it use a
practical guide for creating plans, setting goals and objectives and make decision and
coordinating among the employees to achieve desire goal as well as objectives. In the context of
Bentley company has to focus on vision and organise work is such a manner to achieve desire
outcomes effectively.
Leadership: It is all about providing guidance and right path to achieve desire goals and
objectives present within organisation. An effective leaders have the quality of influencing all the
employees to focus on the desire aims and objectives present in the market (Bandarian, 2019).
For Bentley company must have good leadership which help subordinates to achieve common
goal in effectively manner. Leaders are those who shapes the innovation by there guidance and
support. Along with this, leaders must use different approaches as per the needs and wants of the
organisation. Company may use participative leadership style which leaders focus to bring
together each employees to manage demand and supply of the company.
Culture: It is the characteristics and the knowledge of individual or group of people
which include different language, religion and background. In term of organisation culture define
the environment and structure of the company. Apart from this, it include organisation
expectation, experience, philosophy to create value for the product. These are based upon shared
attitudes, belief and habits. Bentley should provide efficient culture within the company as to
maintain demand and supply present in the market. Apart from this company has to focus on
system and try to improve working culture in the organisation to achieve desire aims and
objectives as per the given time frames.
Team work: This enables you to accomplish the tasks more effectively than handling the
project individually. It is essential for the company to cooperate together on the various task
which aid in minimizing the risk and uncertainty present in business world. For Bentley
company has to focus on team building as this bring out effectiveness of employees to fulfil the
needs and requirement of the company. Along with this, it reduces workload on each and every
employees which allow to improve the skills effectively.

M1Examine different sources of innovation, and how organisations can foster and develop an
surroundings and culture of creativity
For Bentley innovation plays an vital role in achieving the desire outcomes in the given
time frame. Different emerging business have proved that innovation is only the factor which
provide competitive advantage in the marketplace (Lehtimäki and et., al., 2019). There are
different kind of sources for innovation which include necessity, needs of particular commodity,
Unexpected and process change. The innovation help to improvise the change in techniques,
engineering, and supply chain. For Bentley management should bring new innovation as which
help in fostering creativity in the company.
TASK 2
Covered in ppt
TASK 3
P5 Importance of commercial funnel and application of New Product Development (NPD)
Commercial funnel is defined as the process of influencing the target market in a manner
that they get attracted toward purchasing the products or services offered by an organisation.
This framework requires an organisation to develop a proper understanding regarding the need
and demand of customers so that most satisfactory product or services can be offered to the
target market. By using commercial funnel the Bentley company would be able to communicate
about the new feature it is planning to launch and security benefits that it provide to them. This
in turn also support in determining the responses of target market toward this idea or whether it
would be feasible as per current market situation(Grace, 2019). Additionally the marketing of
figure print car door lock will also become easier and more helpful with this, as it consider the
involvement of customers in this promotional activity which ensure quick acceptance in
marketplace as the product get launched as per the need and requirement of organisation.
New Product development:-
It is defined as a framework that involve step by step production as well as launch of a
product or services according to the requirement of target market. In present report, Bentley
company is planning to launch an additional security feature of biometric i.e. finger print lock.
The process of this new product development for this idea is mentioned below:

Idea generation:- This is the first stage of NDP process where development team think
about number of ideas for new product development. The main aim behind getting more focused
toward generating idea is to get a pathway toward adding more security features.
Screening:- This includes the process where best possible alternative get selected out of
larger number of options available that contribute toward desired result.
Development of concept:- Under this step the testing of a concept is performed related
with the process of developing new product. In this process the main focus would be kept at legal
formalities, designing, patent research, technical feasibility etc.
Marketing strategy:- Under this phase new strategies would be developed for attracting
the customers. It involves defining a particular target market and deciding effective distribution
channel and budget formulation.
Business analysis:- Under this the attractiveness of finger print lock security feature
would be determined in term of market scenario.
Development:- This is the actual execution phase where the product development plan
will came into force, resources are arranged and work get started over the formation of
innovation regarding door lock security of Bentley company.
Test marketing:- It is defined as process of testing product with the actual marketing
strategy that are used by organisation for ascertaining its effectiveness. This step put emphases
over determining the soundness of innovation in market.
Commercialisation:- This is the final stage where cars of Bentley company will get
launch in its target market. But in order to achieve success in marketplace it is crucial for
Bentley company to enter within market using appropriate promotional tools for improving
number of clients.
P6. An innovation business case for an organisation
With the assistance of innovation business case, it is easy to understand and monitor that
what changes are needed in operations for successful launching of cars with finger print lock in
marketplace. In case of Bentley, managers are coming with finger print lock which is new and
provide security to vehicle. Innovation business case of Finger print lock in car is as below:
Steps Description
Summery This case shows launching of those cars which have finger print

lock that help Bentley in launching service in its existing and new
auto-mobile product. As there are several companies that are
which are coming with new approach for managing effective
relations with its target audiences
Objectives Objective of Bentley behind launching or implementing this new
technology of finger print lock in its car products is- To increase
sales of company up to 20% within 1 year.
Mission Mission behind use of advance technology is- To offer extra
features or security to its consumers at affordable prices.
Vision Vision statement behind new service of Finger print lock is-
To create improve brand image between target audiences in auto-
mobile segment.
Solution In context to accomplish the set objective, there should be
effective and innovative marketing plans and plan of action with
which customers are ready to avail it. There must be appropriate
marketing strategies so that the management of the company can
effectively get attain towards it.
Innovation in product Finger print loack is an advance technology whcih is an extra
feature and provide more security. This feature of automobile is
beneficial for users because it provide high security to cars.
Funding To make this kind of innovation, the organisation can use both
internals and external sources of funding by which Bentley can
implement innovation of finger print lock in successful manner.
Bank loan can be utilised as external sources and retained earning
can be used as internal sources of fund. Apart from it, there is
appreciation from national authorities which they contributes in
financial help and company can pay it with less or nil interest rate.
Benefits By launching car products with this finger print lock feature,
company can improve brand image in specific sector and they can

sustain in marketplace till long term because they come with new
feature of finger lock.
Monitoring and
controlling
By organising activities for creating and launching new product
with new features, there is need of several resources for
implementing new technology and feature in products
appropriately. Lastly, it is important that administrators of Bentley
have to determine and measure actions to get favourable result. In
case of any instability, corrective actions can be taken at that
instance.
M4. Innovation business case which consist how to evaluate its over all effectiveness
With the assistance of understanding and monitoring the need of customers,
administrators of Bentley come with finger print lock in its car product. Form preceding business
case, it is analyse that target audiences can get better option with new and latest technology at
reasonable cost. Overall execution can be measured in terms of profitability and revenues. To
monitor quality of those car which have the feature or technology of finger print lock,
administrators can take feedbacks and response from customers and workforce. If there is any
new thought and idea with employees while testing of cars which have this feature then, it can
be implemented.
TASK 4
P7. Different tools that organisations can use to develop retain and protect knowledge and
intellectual property
For all the organisations which are creating innovations, it is essential to provide
protection them by utilising effective tools and techniques. As Bentley is going to launch new
feature of finger print lock in its car product in market so it is crucial for it to ensure that it
should retain and protect its knowledge and intellectual property. For this, there are different
tools that can be used by the respective company. Some of them mentioned below:
Patent- It can be explained as a protection tool or right that is developed by national
authorities for particular purposes or devices, processes and methods etc. major advantageous of
it. It tool hep the patentee to save the innovation which the new creation. By utilising it, Bentley

can make a patent for its finger print lock feature and technology which will be launched by it in
the market to maximising sales and profitability of it.
Copyright- It is a type of intellectual property right which is offered to the innovator for
creative work or unique idea to reproduce it in forthcoming time in limited duration. Main
motive of this tool is to protect the original creation which is in the form of innovation. With the
assistance of it, Bentley can copyright its unique idea of finger print lock so that other
organisation will not utilises and implement this idea to apply this technology in their own auto-
mobile products.
Trademark- It can be explain as a right and tool that can be utilised to protect a unique
product or service with the assistance of particular design, sign or expression that assists to
differentiate a product form others. In context of Bentley, to maintain the creation of finger print
lock, the firm can use this property right to safe and protect its new feature. It permits
organisations to keep their products segregate from others.
From the above described information, it can be summarise that the management of
respective company can use patent as an effective tool of protection. It is beneficial because it
help safeguard the innovation. It stop other from copying, producing, selling and importing the
unique creation of the company without permission.
M5. Evaluation of different tools
There are different tools which are utilised by companies to protect and retain intellectual
property rights are beneficial to take legal right to register a creation and innovation. When
organisation use intellectual property to protect innovation then it directs to provide a
competitive benefit to business that put their all efforts to make innovation successful. Itv also
assist in gaining rivals benefits in long term and no one can use that creation without the
permission of owner. It also provides a healthy business environment where there is less or
minimum competition.
CONCLUSION
From the above discusses report this has been figure out innovating plays an vital role in
expanding the business effectively. The innovation is important for the company as this tend to
reduce risk as well as competition present in the market. Company must have proper vision as to
achieve the success as per the given time frame. There are different intellectual property rights

such as patent and copyright which should be used by Bentley to prevent any kind of theft and
fraud done for new innovation.
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