HND Business (2020-2021): Innovation and Commercialisation Report

This report examines innovation and commercialization strategies within the context of a business environment, using Samsung as a case study. It differentiates between invention and innovation, exploring their significance and influence on vision, leadership, culture, and teamwork. The report delves into the 4 Ps of innovation (Position, Product, Process, and Paradigm), the concept of frugal innovation, and its application. It further analyzes the commercial funnel and the application of New Product Development (NDP), as well as an innovation business case. Finally, it discusses tools organizations can use to develop, retain, and protect knowledge. The report is structured to address the key learning outcomes of Unit 8: Innovation and Commercialisation for an HND Business course at David Game College.

UNIT 8: INNOVATION AND
COMMERCIALISATION

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P1 Differentiation between invention and innovation.................................................................3
P 2 Influence of Innovation in Shaping Vision, Leadership, Culture and Teamwork.................4
LO 2.................................................................................................................................................6
P 3 the 4 P’s of innovation...........................................................................................................6
P 4 Developments in frugal innovation.......................................................................................7
LO 3.................................................................................................................................................8
P 5 Commercial funnel and the application of new product development (NDP)......................8
P 6 Innovation business case.......................................................................................................9
LO 4...............................................................................................................................................10
P 7 Tools that organization can use to develop, retain and protect knowledge.........................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation is getting in imagination and new ideas in an organization’s product or service
which is going to add value and uniqueness in the business. Commercialization is making the
products be able to increase the sales and get competitive advantage in the organization.
Samsung is a private owned organization which is having its headquarters in Seoul, Korea and is
serving worldwide. There are more than 320,671 employees working in the organization which
is making the productivity and operations of the organization be well maintained. The report is
going to consist of innovation and invention which organization is getting in the market and the
methods, frameworks and measures which the organization is going to analyse before making a
place for their products in the market.
LO 1
P1 Differentiation between invention and innovation
Invention and innovation
Innovation is adding value and enhancing the feasibility in the market so that the
organization can gain competitive advantage and invention is getting in or introducing a new
product or service which is unique in its nature and has not been used in the market earlier.
Significance of innovation
The customers want new ideas and change in the products and services which are present
in the market which businesses have to consider. Samsung is one of those companies which likes
to get in the changes according to customers and invests a lot of revenue in order to make this a
success (Polzin, von Flotow and Klerkx, 2016). The company has to match the satisfaction and
expectations of the customers only then the products and services will be able to have a higher
performance in the market.
Innovation Invention
After a certain time the products and services
loss their charm in the market which is why
Introducing new products and services in the
market so that the organization will be able to

innovation is done in them so that the
customers are going to remain attracted to the
products in the market. The quality, design, or
any other aspect of the products and services is
improved.
attract more customers. There is going to be
higher loyalty of the customers as well in the
organization which is good for the profitability
in the market as well.
Right skills and knowledge in the so that there
is going to be higher performance. The
company has got in slimmer, cheaper, more
colours, etc features in the existing products
and services so that the customers are going to
be loyal to the organization (Žižka and et.al.,
2018).
It is important for the businesses in the market
to be able to gain the satisfaction level of the
customers and add unique identity as well in
the organization. Wireless data transfer is new
invention which Samsung has made in the
products and targeting the business customers
so that they will be able to transfer data faster.
P 2 Influence of Innovation in Shaping Vision, Leadership, Culture and Teamwork
Innovation is going to influence leadership, culture, teamwork and vision of the
organization which is going to make the organization have a better functioning and direction in
the organization which is going to make the company have higher profitability.
 Culture
Charles Handy’s has given the culture model which is going to make there better understand.
There has to be higher uniqueness in the organization and superiors must monitor them so that
there is going to be higher performance. There are skills and experience which all the employees
have and they must be shared with one another so that the performance and working is going to
be better (Azarmi, 2016). Treatment to all the employees must be present so that there is going to
be loyalty of the employees in the organization which is a very important factor for
sustainability.
 Teamwork

Samsung is using Bruce Tuckman team work model which is going to make the organization
have higher innovation and invention take place. There are four stages which are present in this
model which are forming, storming, performing, adjourning and norming which is going to be
discussed. The employees must have transparency and informed about all the changes. There are
going to be conflicts but there has to be a common ground which needs to be found so that the
organization is going to have higher performance. More ideas and creativity can come out of
conflicts which Samsung can use for higher satisfaction level of the customers and employees.
Drawback of this model is that it is time consuming which is why the managers and leaders will
have to monitor and control the employees so that this model can be implemented effectively.
 Leadership
There is democratic style which is being followed in Samsung so that all the employees can
have a say in the decision making and the changes will be able to come in the organization
effectively. The competition in the market is high and increasing as well which is why the
organization will have to find ways in which they can make the organization get higher
competitive advantage (Bilandzic, Foth and Hearn, 2018). There has to be fairness and
distribution of work should be done effectively so that there is going to be higher satisfaction of
all the employees.
 Vision
The vision of Samsung is to get in competitive advantage by getting in innovation and
invention so that the company will be able to match the expectation and lifestyle of the
customers. There is a standard and reputation which Samsung has set for them in the market and
they have to be maintained. There is a victory celebration as well for the employees of the
organization so that higher performance of them can be sustained in the business.

LO 2
P 3 the 4 P’s of innovation
Joe Tidd and John Bessant have given 4 P’s of innovation which is going to be discussed
in the further report so that Samsung will be able to operate effectively and efficiently in the
market.
 Position
To understand what changes has to be got in, it is important to have a strong customer
relation. Digital tools are going to be used and improved upon by Samsung so that they can
increase the satisfaction level. Trust and loyalty of the customers will have to be gained by
having a strong base in the market.
 Product
Understanding of the products of Samsung in the market is high of the business which is
why they are being able to improve accordingly. There are group discussions and opinions of all
the members are being taken so that wireless data transfer can make a place in the market
effectively. The system which Samsung is coming up with is going to attract a lot of business
class in the organization which is a great advantage which the organization is having for them in
the market (Tranekjer, 2017).
 Process
Preparation of services and products has to be included in this stage and the right skills and
experienced employees have to be selected for the work. Training and development must be
provided so that the work can be done matching the standards and reputation of the organization.
The trends of the customers is shifting and changing with time and they need to be matched so
that the organization is going to have higher performance which is going to be present.
 Paradigm
There are a lot of challenges which are going to come in business to be able to match the
expectations of the customers because the trends are changing rapidly. Samsung is having a
strong portfolio and experience of dealing with the customers therefore they improve their
products effectively in the market so that there is going to be higher performance which is going
to be present.

P 4 Developments in frugal innovation
Frugal innovation is a very cost friendly method which is adopted by Samsung which is
going to make the manufacturing of the company be effective as well as the complexity in the
market reduce. This is a very applicable method which can be used for cars and phones in the
market. The prices of the products have to be low in the market only then the products will be
able to capture the attention of the customers in the multinational market which is a very good
strategy being used by Samsung in the market. The daily manufacturing of the product will have
to increase because targeted audience is business class and their demand for this feature is very
high (Wonglimpiyarat and Chandrachai, 2016). Technological changes are also taking place
which Samsung will have to adapt and invest in as well and this is going to make the company
have higher performance in the market. For example, Trucks was a product of Mercedes and the
company could not make profit from this factor therefore they sold the product to Tata which is
an Indian brand. Tata used frugal innovation and make the product a success in the market and
globally as well.
Samsung will have to make plans according to the demands of the customers and
operations have to be improved as well so that there is going to be a higher level of satisfaction
of the customers. There is going to be a need of experienced workforce and motivation in them
as well when there are so much of technological changes which are taking place in the market to
make the productivity and operations increase in the market. Threats of competitors in the
market have also increased therefore the company will have to get in changes and be able to
adapt to them as well so that there is going to be higher performance which is going to be present
(Pansera and et.al., 2020). The system which Samsung is coming up with is going to have a huge
demand in the market which is a great factor for the brand image and portfolio of the
organization and the company will be able to have higher performance in the competitive
industry as well.

LO 3
P 5 Commercial funnel and the application of new product development (NDP)
Innovation funnel encourages the development of services and products according to the
trends and demands of the customers.
Idea generation
There has to be a good survey and data collection in this stage so that there are going to
be improving and better decisions which can be taken by the organization. There is a huge scope
which Samsung is having in the market which needs to be understood through feedbacks of the
clients as well.
Feasibility
The ideas are then analysed so that there are going to be feasible for the company and
implement them economically.
Capability
There are resources and convert ideas into reality which is a very important factor for the
business to have so that there is going to be higher ideas and realistic (Szutowski, 2019).
Rollout and launch
There has to be appropriate network or channels which the organization need to have so
that there is going to be innovation products.
Importance of Commercial Funnel
 Core competency in the market
There is going to be misguidance which is going to be present when there is going to be a
lack of strategic planning which is going to be present. There are a lot of ideas and getting them
into action requires a lot of methods and techniques for Samsung to achieve those factors.
 Generate sales

Commercial funnel is a very effective method which is adopted by Samsung which is going
to make the organization support (Dai and Xu, 2020). There are needs and desires which
customers have which are going to impact the profitability in the market.
 Builds Customer Relations
The company is having the local language to operate in the market so that there is good
awareness. Easier to penetrate in the market the business will have to have original content. This
is going to make the organization be able to fulfil the needs and demands of the customers.
P 6 Innovation business case
Executive Summary
Transfer data from one device to another is important for the organization to have in the
market which Samsung is getting in the market for the customers. There is a target of the
business class which needs to be matched and the satisfaction of the customers is going to be
higher. This is going to make the profitability and standards of the organization increase in the
market.
Business case
There are a lot of sourcing which can be used by Samsung to gain the funds which is
going to be used by the organization to invest in the innovation and invention which the
organization is having in the market. There are going to be higher profit margins which the
company is going to have in the market due to this factor.
Vision
To make the satisfaction and experience of the customers with Samsung increase in the
market.
Strategy
The safety and security of the people is going to be looked after in which the company is
getting innovation into so that there is going to be a match in the expectation level of the
customers. The customers are going to get attracted to the products and services of Samsung
automatically which is a get functioning for the company.
Funding

The organization is going to opt for bank loans because that is a very safe and legal method
which is good for the company’s portfolio as well (Kruger and Steyn, 2019). There are a lot of
decision making commands which can be taken by the organization so that changes will be able
to come in the organization effectively and that is good for the reputation of the company and
brand image in the market as well.
LO 4
P 7 Tools that organization can use to develop, retain and protect knowledge
Trademark of Samsung
The company has taken a lot of trademarks in the market for an effective functioning
which is going to make the organization have higher competitive advantage. Samsung
Electronics Co, Ltd is the trademark which Samsung is having for them. The company is trying
to make loyal customers in the organization and for that the organization will have to gain their
trust in the company so that there is going to be higher performance.
Copyright of Samsung
The company has taken a lot of copyrights like on the icon, post, download, reproduce,
copy, image, button, etc so that the competitors in the market will not be able to copy them.
There are copyrights on data base, website, content rights, etc also which Samsung has taken for
the company so that there are strict actions which the company will be able to take for the others
who will try to take away this right from the company (Mazurkiewicz, 2018).
Patent of Samsung
To gain competitive advantage the patent figure of Samsung is D876414 and there are
more than 75,594 patents which are present in Samsung in United Kingdom which is going to
make the decision making and other factors of the organization have an upper hand in the market
which is going to make the organization have better sales

CONCLUSION
From the above report it can be concluded that businesses in the market have to get in
innovation and invention effectively and with time before the customers shift their loyalty and
trust from one organization to another. Report discusses the factors which are going to affect the
teamwork, culture, vision of an organizations decision making which needs to be present in the
organization.

REFERENCES
Books and Journals
Azarmi, D., 2016. Factors affecting technology innovation and its commercialisation in firms.
Bilandzic, A., Foth, M. and Hearn, G.N., 2018. Open innovation for crowdsourced product
development: The case study of quirky. com.
Dai, Y. and Xu, J., 2020. Impact of non-commercial networks on academic entrepreneurship in
post-commercialisation. Technology Analysis & Strategic Management. pp.1-15.
Kruger, S. and Steyn, A.A., 2019. Enhancing technology transfer through entrepreneurial
development: practices from innovation spaces. The Journal of Technology Transfer,
pp.1-35.
Mazurkiewicz, A., 2018. Barriers of technological innovation development and implementation
encountered by R&D organisations. Journal of Machine Construction and
Maintenance-Problemy Eksploatacji.
Pansera, M and et.al., 2020. Embedding responsible innovation within synthetic biology research
and innovation: insights from a UK multi-disciplinary research centre. Journal of
Responsible Innovation. pp.1-26.
Polzin, F., von Flotow, P. and Klerkx, L., 2016. Addressing barriers to eco-innovation: Exploring
the finance mobilisation functions of institutional innovation
intermediaries. Technological Forecasting and Social Change. 103. pp.34-46.
Szutowski, D., 2019. Innovation source, advancement stage and company stock returns. The
Service Industries Journal. 39(13-14). pp.925-942.
Tranekjer, T.L., 2017. Open Innovation: effects from external knowledge sources on abandoned
innovation projects. Business Process Management Journal.
Wonglimpiyarat, J. and Chandrachai, A., 2016. Cluster management and research
commercialisation. International Journal of Business Innovation and Research. 11(3).
pp.311-325.
Žižka, M and et.al., 2018. The effect of clusters on the innovation performance of enterprises:
traditional vs new industries.