Unit 8: Innovation and Commercialisation Report - F-Drone Case Study

This report provides a comprehensive analysis of innovation and commercialization, using F-Drone as a case study. It explores the importance of innovation versus invention, and how company vision, leadership, culture, and teamwork shape innovation and commercialization. The report delves into the 4Ps of innovation, the innovation funnel, and frugal innovation, with examples provided. Furthermore, it examines new product development (NPD), business case formulation, and tools for knowledge and intellectual property protection. The report highlights the significance of each concept, offering insights into how businesses can foster innovation and achieve commercial success. It covers topics such as industry changes, demographic shifts, and different innovation strategies to help organizations stay competitive. The F-Drone case study is used throughout to illustrate practical applications of these concepts.

Unit 8–Innovation and
Commercialisation

TABLE OF CONTENT
TABLE OF CONTENT...............................................................................................................................2
INTRODUCTION.....................................................................................................................................3
LO1........................................................................................................................................................4
P1 Innovation and importance in comparison with invention...........................................................4
P2 Company vision, leadership, culture and teamwork shape innovation and commercialisation. ..5
M1 Sources of innovation for fostering of culture and innovation....................................................6
LO2........................................................................................................................................................6
P3 4Ps of innovation and use of funnel to shape innovative ideas....................................................6
P4 Frugal innovation and examples...................................................................................................8
M2 Application of innovation funnel.................................................................................................8
M3 Role of frugal innovation.............................................................................................................8
D1 innovation development and measurement................................................................................9
LO3........................................................................................................................................................9
P5 Importance of NPD.......................................................................................................................9
P6 Innovation Business case ...........................................................................................................10
M4 Innovation case.........................................................................................................................12
D2 Disruptive innovation.................................................................................................................12
LO4 ......................................................................................................................................................13
P7 Different tool that organisation use to develop, retain and protect knowledge and intellectual
property...........................................................................................................................................13
CONCLUSION.......................................................................................................................................14
REFRENCES..........................................................................................................................................15

INTRODUCTION
The innovation and commercialisation can be understood as process of transforming
various ideas, strategic knowledge and larger new inventions for gaining higher informative
functional paradigms which is analysed to be widely grown on major goals. The report will
based upon the F-drone which is the world’s first transition drone that enable aerial deliveries

to ship. The report will be analysing various factors of importance of innovation in
comparison with invention, and also analysis of company vision and leadership culture for
team work innovation and commercialisation aspects. The study will further analyse 4 Ps of
innovation along with syage of innovation funnel with various examples, and how frugal
innovation is widely gaining stringent reach among company horizons. The report will be
further analysing new product development (NPD) for commercial innovation and business
case formulation, for business active growth and how various functional varied tools can be
used.
LO1
P1 Innovation and importance in comparison with invention
Innovation among commercial business arenas are considered to be widely essential
for gaining new informative functional aspects synergy, business goals diversity aspects and
also for stronger vision oriented growth towards longer time factor. F Drones have been
widely building new advanced functional reach with stronger innovation business within its
products and services for catering to competitive industry paradigms and also for stronger
vision oriented growth. Innovation has been also analysed to be widely essential for creating
enforced new fundamental growth on larger scenarios, by bringing on varied functional
domains of explorative quality standards. There are various differences within parameters of
innovation and invention which can be analysed as follows (Agarwal and Brem, 2017).
Importance to companies in comparison with invention relates to fact that there is varied
competency growth among production standards widely which improves goodwill and
revenue horizons on wider domains. In comparison with invention innovation brings on
competency improved fundamentals imperatively and also enhances new avenues where
exploration functionally raises competencies.
Particulars Invention Innovation
Concept The inventions are commercially new
idea for entering larger vision oriented
competitive growth.
It is a practical implementation
of invention with advanced
structure of technology for
gaining larger profits.
Concern area It is related to productive
implementation within one product and
service for larger technical growth.
It is used for developing
advanced standards of
efficiency among customers
services , for goodwill.
Significance It is creation of new product with high Innovation adds to the value of

focus on thinking procedure and also to
significantly work on technical
upbringing standards.
working operations within
companies to enhance new
active diversity of working
goals.
P2 Company vision, leadership, culture and teamwork shape innovation and
commercialisation
F Drones company vision, leadership, culture and teamwork are analysed to be widely
essential for shaping of innovation and commercial strength which essentially gives push to
company productive long term goals and varying paradigms to develop stronger brand image.
 Company vision: F Drones with evolving dynamic working company vision has been
widely evolving on new metrics of larger vision oriented growth, new aspects of
technical innovation to be implemented among company goals. Vision to be widely
worked on with new aspects of diverse grounds, functional work synergy plays high
active role for gaining larger goodwill among target customers.
 Company leadership: F drones have strong focus on effective leadership within
business for gaining new informative aspects, longer term keen growth goals and also
to potentially develop ken performance technical determinants on stronger work
aspects. The functional synergy of leadership has been widely analysed to be highly
informative where there is quest goal development and also for yielding wider
diversity, for keeping awakening growth operational efficacy within longer run
(Alexander and Joe, 2019)
 Company culture: It plays high importance role to bring on innovation among
working criteria to develop long term adaptability of variant ideas, also for leveraging
varied parameters of new end efficacy which builds new force of innovation. There
has been also analysis worked on towards building higher efficacy on wider domains,
and also to promote new end targets for keeping up with new goal end within higher
efficacy parameters. Culture plays wide role to generate higher specialised
determinants, for new end quest operational goals and to build work force strength on
longer term to keep determining zeal stronger.
 Teamwork shape innovation and commercialisation has been widely determining new
horizons to keep up efficacy widely active and also pertain larger goals innovation

within longer time frame for best customer services. Team work shapes motivation,
inner will power and technical working growth essentially to keep innovative
commercial goals worked on in advanced scenarios, also for gaining new efficacy
among targets. F drones have also profoundly build wider communication metrics,
and also to potentially work on larger governing scenarios to keep up the larger goals
stringently wide and also be informative within longer time run.
M1 Sources of innovation for fostering of culture and innovation
 Industry and market changes: The varied new industry and market changes are highly
analysed as source of innovation which fosters culture innovation and dynamic
competitive business goals. New changes within business industry parameters highly
functionally demand various market changes to be implemented among longer time
run, for creating efficacy on wider productive goals and also to highly invest strategic
vision used to retain, protect knowledge and intellectual property rights onto varied
domains (Cateora, Gilly and Graham, 2020).
 Demographic changes: The demographic changes such as wider consumers services
demands and wider focused on bringing new innovation and business cultural aspects,
is also one of the productive source fostering innovation within longer run.
LO2
P3 4Ps of innovation and use of funnel to shape innovative ideas
The 4 Ps of innovation can be understood as follows which F Drones can adopt
within business can be analysed as follows:
 Product innovation: The product innovation can be understood as first most thing
which companies widely focus towards bringing on larger vision oriented growth, for
conveying change, to also bring on products and services which consumers demand
in business competitive world. Products innovation widely focuses towards bringing
on new advanced categories such as larger working growth, among keen working
goals criteria widely and also be informative among larger consumers products
choices.
 Process innovation: The process innovation refers to evolving change in ringing on
production among products , services which are created and delivered among varied

aspects for creating stronger working operational growth. F Drones aims to use best
advanced technology usage for producing fast evocative synergy within products,
services for fast functional growth and new leveraged goals widely focused on
smarter developing innovation. Process innovation plays high important role for
governing new advanced functional active scope among various paradigms within
customers and industry segments, where F drones has been actively growing to
enhance its products and services selling.
 Position innovation: The position innovation relates to the fact through which
products and services are being introduced within industry with high competitive
goals, where this relates to the fact that there is competitive growth worked on. This
factor is widely important for connecting with larger target customers developed
within various paradigms of competitive strategies, where F Drones aim to be
innovative and also open up digital platforms. The position factor of innovation also
widely relates with promotion synergy for competent growth and new scale target
growth among keen arenas, where technical promotion has been competently active
on varied scenarios (Demirdöğen and Işik, 2019).
 Paradigm innovation: The paradigms innovation is change in underlining strategic
models for thinking actively wide on various aspects of innovative working vision,
technical growth on diverse grounds and also to open up efficacy parameters to be
actively wider grown. It can be understood that F drones have been actively focusing
on diversion of various innovative procedures for bringing on keen active growth, and
also the wide shift towards keeping efficacy stringently active and also
communication among consumers. This plays high strong immense importance role
to keep on new keen growth stronger within business horizons, processing quick
development among varied new aspects and also be potentially active towards quest
building potentialities among consumers.
 Use of frugal innovation: The use of frugal innovation can be understood to be
widely strong for prominently building new parameters of efficacy within business
horizons, and for technically building wider scope segments to generate new end
productive diversification within business. Frugal innovation can be adopted to
generate new varieties of specialised competitive growth among wider long term.
Frugal innovation is based on strategic vision, price competitive range and also to

widely focus on keeping new scale active growth among new products
(Rajapathirana and Hui, 2018).Technical sophisticated products and services are
worked on for striving good quality solution, for giving greatest value to customers
based on lowest cost factors.
P4 Frugal innovation and examples
Frugal innovation is one of the most innovative concept through which it evolves
procedures to enhance functional approach within business goals by reducing complexity,
cost of goods within production and also refers to removing of non essential features. Frugal
innovation plays high role within company keen scenarios to work on developing new
fundamental goals, for technical innovation and also to keenly promote stronger work
diversity. The three main criteria and factors of high importance within frugal innovation is
based on substantial costs, reduction of overall functional revenue standards and optimised
performance scenarios within wider time run. F Drones has recognised frugal innovation to
potentially aim to enhance new competitive building diversity paradigms, leverage higher
goodwill among varied scale and also be innovative on varied scale. Frugal innovation is
analysed to be one of the fastest growing business strategy where innovation business
practices are worked on vastly, where resources are widely used in planned format to keep up
new quest horizons.
The frugal innovation actively develops new technical goal diversity to also evolve on
leveraging goals, to develop new informative diversity for gaining new work details.
Examples: Renault and Dacia is term used by Carlos Ghosn rather than frugal innovation to
resume company orientation towards low cost cars, allowing other markets to be reached on
wider domains (Crowley and Bourke, 2018).
M2 Application of innovation funnel
In order to apply innovation funnel, F Drone has to comply with three stages such as
during investigation stage where company has to determine varied options within firm to
bring on strategic innovation in planned structure. Identifying the market need and
determining variable options for development, enables company products and services to be
implemented for improvement of various abilities. Innovation funnel application as
mechanism enables constant stream of ideas and developed innovation which can be screened
for viability metrics which create stronger goal efficacy. F Drones will be widely focusing on

innovation funnel, for leveraging new diversity technical goals to keep efficacy strongly
active and also diversified on various parameters to keep unique diversity actively wide.
M3 Role of frugal innovation
Role of frugal innovation is widely essential within F Drones to widely evolve on
new parameters of efficacy, for gaining larger vision oriented growth and operational
innovation on longer run which widely governs new keen synergy. The frugal innovation also
gives push to field innovation among competitive business, where resource utilisation is also
actively analysed to actively grow on varied scale of larger active synergy. F drones by using
frugal innovation will be able to develop keen functional position within industry competitive
growth synergy and also to accelerate growth among technical parameters for harnessing
commercial revenue goals (Ganda, 2019).
D1 innovation development and measurement
The innovation development and measurement will be done by keeping stronger
advanced functional factors in usage, also to evolve larger paradigms of up scaled factored
growth objectives where F drones will be able to harness innovation.
LO3
P5 Importance of NPD
New Product development can be understood as one of the most actively growing
important concept within business horizons where there is high focus governed on bringing
on new metrics among business goals and larger competitive goodwill among business. F
drones by adopting NPD will be able to cater larger productive functional goals diversity,
also be informative among innovative business services and have higher diversification
parameters for gaining wide range of commercial expansion into new domains. Stages of
NPD can be discussed as follows (Gnizy, 2019).
 Concept ideation: This is first step where concept ideation is focused on working for
gaining new enforced functional standards diversity within business products and
services, where new concept overall enables company to bring on new product within
industry. Concept ideation is widely essential for gaining functional innovation at
growth, active scenarios and also to build on keen working growth among new
paradigms.

 Design planning: The design planning enables business to evolve new innovation
within technical aspects for gaining smarter working standards, for technical growth
operational innovation and new quest growth within competitive industry goals. F
drones have been actively focusing on design planning element to be innovative and
crucially also work on larger technical standards within products and services, for
commercial excellence.
 Design and development: Another step of design and development is widely focused
on keeping innovative work productivity within wider parameters, hold functional
focus on bringing new design goals and also to keep leveraging paradigms actively
wide on stronger diversity within longer time run. F drone by bringing on new scale
technical growth aims for higher evocative working force where there is larger
dynamic goal diversified and also to widely analyse new metrics of investments
pertaining active focus on major grounds,
 Testing and verification: The test of verification is related to technical testing,
productive growth and competent synergy of new scale functional monitoring for
keeping best quality standards within targets and also to upscale growth among
revenue targets. It can be analysed that there is also new wider demand for keeping
up with new quest horizons and also to widely check new quest operational metrics
within longer time frame (Jajja,Kannan, and Hassan).
 Collateral production: This focuses on keeping advanced new technical growth
parameters within production scenarios for leveraging heights, also to be competent
advanced and also for targeting revenue growth in future business scenarios
 Launching: Product launching widely brings new range products at company services
and also to yield diverse functional standards towards which strategic planning is
worked on, based on consumers digital platforms efficacy development.
 Improvements monitoring: Analysed monitoring is the highly important aspect being
the last and widely also developing focus towards gaining feedbacks from customers,
also to keep up with products and services reviews.
P6 Innovation Business case
The innovation business case will be analysing various factors within business
avenues for gaining informative changes within business future operational growth

paradigms, by keeping up with efficacy goals and also to yield focus on varied domains
within future.
Aim and vision: F Drones will be focusing towards bringing on new productive innovation
vision goal diversification parameters for gaining stronger goal diversification within
business horizons, and also to actively evolve on wider competent growth.
Smart Objectives of innovation within business
 Specific: Specifically F Drones will be bringing on new scale innovation, strategic
planning within products and services for harnessing long term productive goal
diversification, also to evolve on new edged parameters.
 Measurable: The objectives will be widely focused on keeping up with measurable
analysis, where the functional parameters are widely focused on keeping relative
goals innovation within longer run and also to keep up new goals diversified.
 Attainable: They will be attained by developing functional scenarios within business
horizons for attaining future goals, goodwill and revenue growth.
 Target time period: It will be based on 6 months’ time period, which will be widely
focusing on keeping new objectives monitored among larger scenarios.
Sources of funding:
 Angel investors are one of the one of the most popular and highly informed source of
funding where they will be one of the trusted source for gaining funds, as angel
investors are widely interested in giving funds and also high quality training (Pedada,
Arunachalam. and Dass, 2019).
 Crowd funding is also one of another source of fund where there will be effective
utilisation to promote company vision, objectives and also to promote new functional
aspects within business horizons for expanding new future operational parameters.
Situational analysis: At present F drones has to focus on expansion into regional growth
scenarios and also avail wide focus for keeping up new informative goals, diversified within
various horizons with stronger innovation business standards.

Targeting: The targeting factor, within business scenarios will be done based on varied
functional goals and business paradigms among consumers where effective new determinants
will be analysed on longer time run.
Positioning: The positioning factor will widely focus on keeping new innovative diversion
actively grown, higher efficacy governed on stronger metrics for higher revenue business
goals for consumer advanced goodwill.
Budget:
Particulars Amount
Technology expenses 15000
Training and development expenses 10000
Digital marketing expenses 5000
TOTAL 20,000
Recommendations: The new strategies shall be formed based on functional scenarios and
larger goal efficacy standards, where there are varied goals within business competitive
horizons can be achieved with stringent goal diversion on stronger functional paradigms.
Monitoring and controlling: The new changes will be kept on monitoring and controlled by
keeping up efficacy within goal diversified parameters, and also to keep efficacy at active
domains by analysing consumers feedbacks and digital platforms monitoring (Kahn, 2018).
M4 Innovation case
The innovation case discussed above within business domains and factors analysing
larger active growth shall be keenly bringing on wider functional targets at frame, also to
keep monitoring actively grown among consumers business scenarios. Innovation business
case has identified various metrics and functional exploration, within varied parameters and
also for gaining informative goal diversion for gaining stronger goal productively.
D2 Disruptive innovation
The disruptive innovation can be understood as one of the best new innovation type
coming on for analysing growth paradigms where training and development, new scale
active growth are analysed by bringing on wider resources. F Drones will be using disruptive
innovation by bringing on new quest horizons and also to promote high evocative goal
diversity for larger revenue horizons ( Ortiz-Villajos and Sotoca, 2018).

LO4
P7 Different tool that organisation use to develop, retain and protect knowledge and
intellectual property
Intellectual property can be said as things that are created or invested by human such
as trademark, copyrights, patents and trade secrets. Organisation in order to protect their
valuable resources makes use of intellectual property so that other firm cannot copy it in
order to gain competitive advantages. F-drones have make use of two main types of
intellectual property for protection of its valuable assets, innovation in order to gain
competitive advantages in external environment. Therefore several types of intellectual
property used by firm are described as follows (Gnizy, 2019).
Trademarks: These are mainly used to protect company name, symbols and logo so that
other companies in similar industry cannot copy or imitate it for respective purposes. It has
statutory life at the same time it is less expensive and easy to registrar. So it has curtained
advantages and disadvantages like:
Advantages of using trademark for F-drones
1. The biggest advantages of using trademark intellectual property is that till the owner
maintain registration of trademark it can be used by organisation so have long
statutory life.
2. It is unique method thus helps in creating brand image and more awareness among
number of individuals within society.
Disadvantages of using trademark for F-drones
1. Such intellectual property are used by highly reputable brands only across
worldwide so it have more value thus any change in market perception may
resulted in dissolution of brand image of firm.
2. It is at high risk when individuals start associating particular brand with local
products that have similar use.
Patent: It is another intellectual property used by F-drones to protect or save its valuable
assets; government is responsible for providing patent to owners with monopoly protection.
So, patents allow company to raise price higher than market thus earn or enjoy huge profit
margin and market share. Thus, F-drones by making use of patent is able to charge high or
premium price form customers as it promise that it deliver qualitative services or products.

Advantages of using Patent for F-drones’
1. It gives superior right to company to charge high price from people.
Disadvantages of using Patent for F-drones
They are highly expensive or costly in nature as there are various types of legal and other cost
are associated with patent (Pedada, Arunachalam and Dass, 2019).
CONCLUSION
It can be concluded form above report that innovation is key factors to growth and
success of organisation as enterprise are able to attract maximum number of customers and
earn huge profitability. Organisation culture, leadership, vision and mission contribute in
promoting or developing new and innovative and commercialisation. From the above study, it
can also be summarised that commercial funnel is important for new products development
as it helps in identifying outcome or benefits of particular innovation. At last it can be
summarised that there are several tools which could be used by enterprise in order to protect
and preserve its valuable resources in order to promote growth and success of organisation
for longer time frame.

REFRENCES
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