Report: Innovation and Commercialisation Strategies for Vodafone Ltd.

This report provides a detailed analysis of innovation and commercialization strategies, focusing on Vodafone Ltd. It explores the significance of innovation and invention within organizations, emphasizing their role in achieving competitive advantage and market growth. The report examines how organizational vision, leadership, culture, and teamwork shape innovation and commercialization processes. It delves into the 4Ps of innovation, the use of innovation funnels, and the development of frugal innovation. Furthermore, the report discusses the value of the commercial funnel and the implications of New Product Development (NPD). It also touches upon creating an innovation business case, including funding aspects, and concludes with an overview of intellectual property and its elements. The report highlights the importance of innovation in the telecommunications industry and Vodafone's approach to maintaining a strong market position.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Significance of innovation and invention in organisations....................................................1
P2 Justification organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation................................................................................................................3
TASK 3............................................................................................................................................4
P3 Innovation 4P's and use of innovation funnel........................................................................4
P4 Development in frugal innovation ........................................................................................6
TASK 3............................................................................................................................................7
P5 Value of commercial funnel and implication of New Product Development (NPD)............7
P6 Create an Innovation Business case consisting funding in way to access.............................8
TASK 4..........................................................................................................................................10
P7 Intellectual property and its elements..................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is one of the important tool for every business organisation. It helps managers
to differentiate their products and services from other competitors in order to achieve high
market growth and success. In addition, innovation is the process of translating various ideas and
concepts so as to create something new and unique for target and potential customers. It also
involves deliberation of different applications on the basis on imagination, information and
initiatives. Vodafone Ltd. is the chosen organisation in this present report, it is one of the famous
multinational telecommunication and networking company. It main objective is to provide strong
network services to all customers. Apart from this, the report will be described the importance of
innovation in comparison of invention. There will be explain 4ps of innovation mix and uses of
frugal innovation. It states that managers need to always emphasis on producing new products
and services in order to gain high market share and growth.
TASK 1
P1 Significance of innovation and invention in organisations
In order to gain high competitive advantage and market share, multinational business
entities are trying produce new and unique things which are to attract more customers towards
them. Innovation can be said as an idea or concept which is generate in order to satisfy buyers'
need in an effective manner. It is the process in which products are redesigned or add some
values in them so as to make them more attractive and impressive. Business innovation also
includes alteration in business model; that means change of selling products and services in
market. For example- Vodafone Ltd. has adopted effective and innovative marketing tools and
techniques so as to reach numerous customers. Furthermore, innovation also put a huge impact
on sales and profit of the company by improvising its products as well as product lines. Many
large business organisations, i.e. Apple and Virgin Group are continuously focused on producing
new products and services. Recently, Apple has launched iPod; it is digital music player which
can carries out almost 1000 songs. The product is widely famous among customers due to its
sleek design and light weight. It has been determined that this MP3 player earn 31% profit of the
business organisation.
Innovation can be defined as creating new things in practice by implementing ideas in
practice. Innovation is necessary for an organisation as this will provide ease to people to work
appropriately and effectively in workplace. Innovation leads to creative and develop new
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changes in working practices of the firm. New innovation in marketplace leads to ease in living
style of life also. For example inventing new products like smart phones, digital watches all leads
to advancement in life practices. The individual uses new technologies which adds on in daily
routine life. The technology is developed to maintain blood pressure, sugar level of person to
keep them healthy and happy. Thus bringing innovation in organisation product line and being
pioneer with new products in marketplace will leads to higher success and profitability of the
firm. New technologies and innovative strategies also brings adaptability of employee to new
working environment which improves the performance standards of the workforce in
organisation ultimately benefits the business organisation.
Invention – Invention relates with a totally novel concept or procedure. In other words,
innovation is all about generate something new which is not seen by anyone ever. Business
invention in an activity which encompasses engineering and new product development
processes. Along with this, it also could be an improvement in current product process or
generating new one in order to get better outcomes in future. Apple has invented many things
which are most popular among customers, i.e. mobile phones, watches, iPod, headphones,
laptops etc. Therefore, it can be said that, invention is totally new and unique functions which
results can be radical breakthrough. There are three types of innovation, i.e. scientific,
humanistic and socio-political innovation.
Difference between innovation and invention
Invention Innovation
It is the creation of new products and services
in order to sustain competitive advantage in a
effective manner.
Innovation is all about an introduction of new
services in to market place.
It can not be commercialized. It results in commercialisation.
Invention can be in manner of economic as
well as non economic.
Innovation is generally for economic motive.
It can be induced and autonomous. It is only induced.
Importance of innovation
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 Business innovation helps in adding values and effectiveness within product line of
business entities. In other words, it differentiate, products from others in order to achieve
high competitive advantage.
 It allows firms so as to reach its target markets, perform new partnerships, maximising
sales revenues, learn new skills and knowledge and enhancing the value of company's
brand in an adequate manner.
 Innovation is essential for Vodafone, because helps it to perform effectively among
competitors.
P2 Justification organisational vision, leadership, culture and teamwork can shape innovation
and commercialisation
Innovation and commercialisation are the one of the most important aspects of the
business. The vision, teamwork, culture and leadership plays a vital part in the shaping the future
of the business. The description of the components are as follows:
 Vision: Vision is defined to be what the business wishes to achieve in the future. The
purpose of working is defined through the vision of the company(Drucker, 2014). It
carries a large impact on the innovation of the company. The company's vision is one
crucial factor which determines the level of innovation in the company. The company
wishes to cater the mobility needs of the people which can be accomplished through
creative manner if the vision promotes the same.
 Teamwork: Teamwork is another important factor which promotes creativity in the
organisation. People when work together achieve synergy and gives rise to creative ways
of accomplishing a task (Schaffers and et. al., 2011). Innovation is promoted by
teamwork in an organisation. Along with the teamwork the management should involve
its employees into decision making for better understanding of the circumstances. Virgin
group is one such example of teamwork innovation. The people who run the organisation
are responsible for formulating plans and strategies for the future.
 Leadership: Leader is the person in the organisation who motivates and leads its fans by
example. Steve Jobs always supported and promoted innovation in Apple inc. the leader
possess the power to influence and motivate the behaviour of the employees working in
the organisation. Richard Branson is another example of a leader who encouraged
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creativity in the organisation. The leaders are responsible for setting examples and
directions for its employees on which the subordinates have to travel.
 Cultural: The organisational culture is another factor which promotes innovation. Culture
of the Virgin group supports and encourages creativity in the environment which equips
the employees to put forward their ideas for the betterment of the business operations.
Culture is helpful in motivating all employees and increase productivity of a business.
Apple and Virgin group have role culture in which all things are based on rules and
regulations. Thus, management frame a hierarchy which should have to get follow in a
proper manner.
TASK 3
P3 Innovation 4P's and use of innovation funnel
Innovation is identify as modifications which are taking effective place in present
products of organisation. It is also determine as knowledge transformation into money. A fair
picture acquire traced by using other innovation definition. As per business dictionary, that
signifies it is identify as translating process as well as invention into services or goods which
generates values.
Innovative industry have ability in regards to accept all modifications which are taking
aggressive place in environment as well place to make their commodity with different features of
quality. There are principally 4 kind of innovations which are determined under this:
Products : Vodafone is a telecommunication industry that give appropriate and proper services
to their potentials or tagetes buyers in a systematic manner. For the same, it is services is known
as main assets of the every organisation. Therefore, administration have in regards to improve
their quality regarding to time. Modernization in services identified in order to giving services
such as wireless.
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Illustration 1: 4 P's of innovation
(Sources: 4 P's of innovation, 2013)
Paradigm: It is another main aspects in which administration have to task and work on several
prospects through they supply their all services to the end users. Earlier they also give additional
facilities such as wires and other frees flow work.
Process: It is also another important aspects which is very beneficial for the company. In this
way an organisation plan their all process regarding what factors are use in the process of phone
products. In this Vodafone use different kind of communication channel such as promotion,
publicity and advertisement etc.
Position: Cited company deal with services delivering products such as wire phones. In during
the day, business want and need to modify the buyers perception by producing wireless services
as well as different broadband link at fairish prices.
Funnel innovation is important in this plan have to determine in order to maximise
success and opportunities of the products. In the prime phase, whole plans which are consider
with company to acquire and collect all information in a essential manner. In this firm apply the
refinery system. With the use of this, administration become capable in order to deal with whole
issues which are formed with services or products of an enterprise.
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Illustration 2: Innovation funnel
(Source: Innovation funnel, 2013)
Vodafone have to analysis whole plans of the company as well as evaluate ideas that set in
administration ability. Furthermore, entire plan, a issue have to measure on which industry have
to give their better attention. From the same, correct judgements have to determined so it is very
useful as well as beneficial for the business in order to increase their profitability and
productivity.
P4 Development in frugal innovation
Frugal innovation development which identified as an activity through when non
significant aspects are destruct due to durable products. It support in decreasing the simplicity
from commodity as well as production of the goods. It is mainly based on approach that will
measure and reduce products cost in order to attract large number of the customers. It is also
define as a better way, with the use of this, business can supply their services and products with
add of more features.
As per economy concept in which all resources which are limited, so in this an
organisation have to utilise by correct examination. This activity totally important because it
define company capability in respects to lead with better and more resources. This support in
evaluating the firm effectiveness and efficiency where they modify in regards to deal with every
person obligations in a systematic manner. For attracting large number of the buyers, business
lead as well use product development plan. It is very useful as well as beneficial to attract
various buyers in a effective manner. Each and every enterprise have to acquire frugal innovation
in company for making better commodity with the use of limited resources.
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Vodafone is a capable business to take this approach in use as well account of their
resources decently. It will also help in acquiring the board range of person with trust or faith. In
this administration have to improve frugal innovation in their organisation by selecting different
phase which are determined under this:
 Determine plan and use correct medium
 Evaluate cost formulation and implementation for a plan
 Analysis reports as well as take correct action for the plan in order to decreasing the
simplicity from that.
 Make beneficial and useful services or products for users as well as clients.
TASK 3
P5 Value of commercial funnel and implication of New Product Development (NPD)
Vodafone is one of largest networking and telecommunication organisation of UK which
trade in global market. The company use the commercial funnel process which refer to
investigation of demands, expectation and needs of consumer and application of them in market
for accomplishing goals of existing products or new product.
Commercialization is the process of marketing and promotion in which the company
make use of advertising, promotional activities undertook for awareness of services and
products. This helps Vodafone in creating a different public image as well as aid in meeting the
desired audience which the organisation target for the products and services.
Generate Concept
Vodafone require to innovate and generate a new products and services idea with the
assistance of market analysis, The observer of market, evaluate different circumstances of
industry and come up with new idea for the development of enterprise.
Concept Presentation
The proper presentation of the idea which is generated by the team of market observer is
required for the necessary funds and sponsors. It is needed to present before the higher
authorities for their permission for the their development process as well.
Investigation and evolution
This is the main process of new product development in which the team of Vodafone
products developer evaluate the demerits of the services and make the require changes for
preparing it for the market.
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Business analysis
Business analysis helps in identifying the needs and situation of market according which
different promotion and marketing strategies is being made.
Product development
After the whole analysis procedure which Vodafone undertake, the product evolution is
evolved to make the final outcome. This is management of resources and evolving of services.
Commercialization
This process is used for promotion and marketing activities of products which is used for
launching and informing the public about the new features of new products or services which is
being developed by the enterprise. This is the most important process which is required to
undertake to meet the accurate target.
Execution
In this process, the whole product development procedure is done and ready to launch n
the market. After it, the market feedback evolution is done by the market researcher group.
P6 Create an Innovation Business case consisting funding in way to access
Vodafone company have expanded in various countries which have adopting the method
of innovation for adding more creativity and invention in their technologies and services. The
company have instituted the facility of 5G Wi-Fi in United Kingdom which is the latest
technologies in networking sector. This is necessary for a business to expand the market in order
to sustain in industry as well as gaining more consumer base. Here are the innovation case if
Vodafone explained as below:
Executive summery
Vodafone provide various telecommunication services top their consumer which is one of
largest networking company of United Kingdom. To retain their consumer and earn their
locality, they need to amend their services and products.
Requirement
Due to heavy competition in the market, the need of new or modification in products and
services is required such as 4G networking services have become older so company need to alter
it and render 5G Wi-Fi.
Solution
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To solve the issues which have restraining the growth of company as well as meet the
expectation of their consumer, innovation in products and services is made.
Need of Innovation
In the next stage, new designing, development and evaluation of new products and
services is done. Vodafone have introduced new services such as 5G network for the
development of company and according t the demands of their clients to retain them with the
company.
Market Research
In the respected step, in order to analyse the demands and needs of consumer and new
trends of market, a research over the nee trends, customer expectation and other factors of
industry is conducted by the company. Vodafone spend 25% of their entire revenues on the
market research.
Development and Designing
To asses the services of Vodafone in various trade, evolvement and planning of new
product is occurred by the enterprise undertaking the needs and demands of consumer and
market.
Investment Need
Vodafone need to develop and evolve their services and products for gaining new
potential buyer as well as increasing sponsor. There are various monetary assets which are
responsible to manage the need of investments for the development.
Excepted Benefit
After the whole procedure of planning and budgeting, the company analyse, the
responses of consumer as well as measure the actual outcome with the expected results to
understanding the proper facts and statics. Enterprise can increase the financial assets by
managing sponsor and investor.
TASK 4
P7 Intellectual property and its elements
Intellectual property rights are such regulations which enable a person in maintain proper
rights towards their property. It enable an individual to protect their property on which they have
specific right to protect (Stokes, 2011). Behind every innovation it is essential to analyse all
intellectual property rights towards a specific property or a thing. It is granted with the
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development of specific rights. There are several number of acts are identify which are related
with these property: Copyright – It is a property right under which an individual have a right to protect their
books, articles and many more things. In relation if any individual use such property
without any specific permission then they have right to sue against them (Amit and Zott,
2012).
 Trademarks – for every product it is essential to distinguish between variety number of
products. For this relation many large organisations use trademark as a logo which other
organisations are restrict to use.
CONCLUSION
From the above mentioned report, it has been concluded that business innovation plays a
vital role in growth and advancement of companies. Innovation helps managers to create
effective and valuable products for customers in order to attain and retain them for long term
period. Apart from this, effective leadership and organisational cultural is required before
implement any product process within firm. Managers also have to set specific vision and
mission so as to give shape to innovation. Along with this, There are 4Ps of innovation, i.e.
product, paradigm, process and position. Commercial funnel helps managers in order to
manufacture innovative and effective products which are able to attract people from target
market.
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