Report on Innovation and Commercialization Strategies for 4Com PLC

This report provides a comprehensive analysis of innovation and commercialization strategies, focusing on 4Com plc, a UK-based telecommunications company. The report begins with an introduction to innovation and commercialization, emphasizing their importance in a competitive market. It then explores the significance of innovation and its distinction from invention, particularly within the context of 4Com plc, highlighting the benefits of innovation for business process development and competitive advantage. The report also examines the role of organizational leadership, vision, teamwork, and culture in shaping innovation and commercialization, emphasizing their impact on 4Com plc. Furthermore, the report delves into the 4Ps of innovation (Product, Process, Position, Paradigm) and the application of the innovation funnel. It also discusses frugal innovation, outlining its principles and relevance to 4Com plc. Finally, the report analyzes the impact of small businesses on the economy and examines tools for retaining and protecting knowledge and intellectual property rights. A business case with an estimated budget is developed for the company.

INNOVATION &
COMMERCIALISATI
ON

INTRODUCTION
Innovation & commercialisation are termed as the new ideas and opinions which helps in
building a new and improved product into the market for increasing the productivity and revenue
of the company. In this extensive competitive landscape, organisations need to continuously use
innovation in developing new product and services for ensuring their sustainability in the market.
Also choosing a more commercially approach is necessary in maximising the Return on
Investment. Company chosen for this assignment report is 4Com plc. 4Com plc is a UK based
company in the telecommunications industry. This report will discuss the 4p's of marketing mix
are product, promotion, place and price along with their explanation. Innovation funnel as well
as frugal innovation in the context of 4Com plc along with the commercial funnel and NPD for
commercialising the innovation process has also been discussed. A innovation business case with
estimated budget has been developed for the company. In last, the various tools which are used
by organisations for retaining and protecting knowledge and intellectual rights of property has
also been analysed.
TASK1
P1: importance of innovation with comparison to invention.
4Com plc is a small and medium sized company situated in United kingdom. The
company was founded by Daron Hutt in the year of 1999 with an aim to provide improved
Communication services to the consumers of United Kingdom. Company was awarded by
various awards for their innovative services. The company is providing internet services such as
software & applications, Business phone systems and broadband to its clients (Balmer, Bulpin
and Molyneux-Hodgson, 2016) .
Innovation is an necessary process which involves generating new ideas and suggestions
which are needed for meeting the needs and demands of customers in the market. It is important
for 4Com plc for enhancing the performance and profit of the firm in the market. It can also be
refers as the thinking which is necessary for proper and innovative solutions of the issues that are
faced by customers. The meaning of innovation is to make new and improved products and
services of firm for meeting the demands of potential customers. 4Com plc is concentrating on
adopting new tools and technologies for implementing the new ideas into reality.
Importance of innovation to organisation

4Com plc uses latest innovative technique for improving the quality and other features of
existing their services. These techniques assists in determining the various issues which arises
during various activities of workplace. In order to increase the profit, 4Com plc decided to
develop a new mobile application in market. importance of innovation are given as under: To develop innovation in business process – The main purpose of 4Com plc is to attract
customers through offering new services by the organisation. For this, company should
need to develop some innovative product and provide it in market for enhancing the
number of sales (Berggren, 2011). Competitive advantage – It helps in modifying the old features of a products into new
one. These innovative techniques helps to reduces the costs of operation of the
organisation which helps company to achieve the goals.
Difference between Innovation and Invention
Basis Innovation Invention
Definition Innovation refers to the
implementing new ideas and
thoughts in the company for
increasing the performance
and productivity of the 4Com
plc.
It refers to the development of
new techniques, tools, methods
and technologies that are
effective for carrying out the
operations and function of
product development process
in 4Com plc.
Concept Concept behind innovation is
to build better and improved
version of the existing
products.
Concept behind invention is to
build new products in the
market for meeting the demand
and need of customers.
Focus It focus on various operations
and activities are performed on
the existing products for
modifying them into improved
products.
It is focused on recruiting
talented individuals in
company for designing new
products and services.

P2: Organisational leadership, vision, teamwork and culture can shape innovation and
commercialization.
In this modern world every business organisation is concerned on building innovative and
creative products and services which are provided by company to its customers. The basic
purpose of every business organisation is to achieve the desired goals and objectives required for
attaining higher position at market place. Team work, vision, culture and leadership plays
different essential roles in the 4Com plc. These can change the form of innovation in the
company. These all are effective for completing the organisational operations. 4Com plc is a
small business organisation having few employees who are giving their maximum efforts
required at work place (Birkeland, 2012). These Team work, vision, culture and leadership are
described below: Vision: This is the predetermined statement of an organisation which will helps in
carrying out all activities of business in a well structured manner. This is also considered
as the long term objectives for conducting all business operation for a long period of
time. The basic vision of 4Com plc is to expand its operations and activities globally for
attaining high growth and success in the market. The clear vision of 4Com plc is to
attracts huge number of customers in order to enhance the sale of products with
increasing market share. Leadership: Leaders plays the most important part in an organisation. The major duty of
leaders and managers is to motivate employees for contributing their maximum efforts in
the growth and success of the company. Leaders at 4Com plc helps in assisting the
employees in the right direction for achieving their desired goals and objectives. By
launching a new mobile application 4Com plc has to appoint an employee having the
qualities of a leader for providing help using the new ideas and suggestions to attracts
new customers. Team Work: This is the most important tool used by various business organisations for
maintaining coordination between employees for performing their different business
operation in efficient and systematic manner. 4Com Plc managers are concern on
motivating employees for performing various business operations in teams. Management
of 4Com plc should convince the employees to manufacture new products by applying

new methodologies which will be helpful in reducing cost and time (Edison, Bin Ali and
Torkar, 2013).
 Culture: This factor has a important effect on the commercialisation and innovation. As a
known company 4Com Plc aims to collect huge amount of data and information from the
various department of firm for implementing the better ideas and strategies in the
company. 4Com plc follows the organisational culture which motivates employees to
work hard and enhance the productivity and performance of the company.
All these are the main elements which adversely affects the innovation and
commercialisation process. For implementing the innovation concept in an effective manner and
to get the maximum output from this, it is very necessary for managers to consider such factors.
Through this manager can implement better and efficient plan of innovation. Various other
factors are also there which affects the process of innovation like budget available, goals and
objectives etc. For making the innovation a successful one it is very necessary for manager of
4Com plc to consider all these factors.
TASK 2
P3: 4P's of innovation and the use of the innovation funnel
Innovation is an important part in every business organisation for attracting customers
towards the products and services provided by the company. The needs and demands of
customers are changing rapidly according to the market trends. It directly affects the choice and
preference of customers as every customers wants to purchase most attractive and innovative
product for themselves (Greenaway and Rudd, 2014). The 4 P's of innovation are described
below:
Product: It is the initial phase for the development of new products and services which
are to be offered in the market and also considered as the introduction session of new product. In
this, Changes and modifications are made in the existing products and services of the company.
4Com Plc is concentrating on introducing new and innovative products and services at the
market place for meeting the changing needs and demands of people at market place. In this
various processes such as production, finance, operations, marketing all departments works
together for bringing more new innovative ideas for product development.

Process: It plays a important role in enhancing the quality and standards of existing
products and services provided by 4Com plc. 4Com Plc is adopting most adequate and effective
tools and technology for increasing the productivity of the Company. This will result in increase
in the sales and revenue of the company.
Position: 4Com plc needs to position again their existing products and services in the
market where the demand and needs of market is high. Technology & innovative ideas plays a
important role in increasing the growth and profitability in an systematic manner. Effective
changes in the manufacturing process helps the company to position the products and services in
the right market (Khan, Grigor, Win and Boland, 2014).
Paradigm: It is the spontaneous working of a product and services in the given market
area. When company decides to improve some feature in their products than it brings chances of
growth for companies. New ideas doesn't change the concept of existing products moreover it is
just improvement in the functioning of existing products.
Use of innovation funnel
Commercial funnel is used for developing products in a efficient and effective manner.
The whole procedure is described as the steps required for developing a product from ideas to
reality. For example: A sales manager can normally adopt the tactics, strategies and methods
which are focusing on utilising each sales process stage. So the whole sales or commercial funnel
is more efficient for the products and service which will helps in reaching a outcome in more
systematic manner. Innovation funnel will help the 4Com plc in deciding the steps and measures
which should to taken by the management for successfully implementing the required strategies
in the development of new products and services which are offered by the company to its end
users.
P4: Development in frugal innovation
Frugal innovation is used for reducing the cost of service and cost of production of
products with the help of modified techniques and low cost methods. It increases the sales of the
products and services of company. Such type of innovation helps the society in various manner
which will reduce the cost of manufacture, electricity utilisation, lower service and product cost.
4Com plc is using the frugal technologies like websites, social media for fulfiling the broad
range of customers with less prices possible.
There are major six principles of frugal innovation which are described below:

 Iterate and Engage: This type of innovation claims that 4Com plc can achieve the target
goals and outcomes with the help of right innovation techniques and tools. Asset Flex: For suitable and better ideal solution and strategies, 4Com plc should divert
the product innovation for implementing suitable and better ideal solution and strategies
in order to sustain in the market (Kianto, 2011). Sustainable Solution: It focuses on the problems and issues of company for providing
the best and suitable solution to the company in order to increase growth and success. Form Consumer Behaviour: By analysing the choices and preferences of the consumer
as well as by influencing their purchasing behaviour, company can adopt the changes
required for the services and products for getting a positive outcome. Consumer Value Creation: This is also a effective and regular communication process
which helps customer for developing the company in different procedures which are used
by the company. Stakeholder Innovation: For effectively organising and coordinating among
stakeholders, 4Com plc should need to evolve their connection by the use of various
methods.
Impact of small business on different level of economy
Small business directly affects the economy at regional and local levels by providing
employment to local individuals who won't get employed by larger organisations. By providing
job opportunities and promoting economical growth, small firms help in eradicating poverty.
Small business tend to move higher from regional to state level by providing adequate services
and products in meeting the market requirement. By increasing their customer base and market
share, firms moves higher from state to national level. Performance of these firms is crtically
associated with economy growth.
TASK 3
P5: Importance of the commercial funnel and NPD processing for commercialisation of
innovation
Commercial funnel: It refers to the course taken by individuals towards becoming the
consumers. Generally this process is used by sales and marketing companies to understand their
sales process for measuring success rate between each step on the innovation funnel. Its shape is

of inverted pyramid (Larkins, 2011). It increase the awareness and demand for a required product
or services in the customers. It is important for identifying the activities where improvement is
required.
New product development: It is described as the most effective process which is used
by various companies in attaining a higher position than their competitors in the existing market.
4Com plc is thinking to develop a mobile application for consumers which will be used for
payments purpose of the services of company for fulfilling the demands of those customers.
Development of this new app will allow the customers to pay the charges of services online
along with discounts on the services. It will help the 4Com plc in knowing their customer better
as well as to maintain a healthy relationship with the existing one. New Product Development
involves various stages as described below: Idea generation- It is the initial phase in the development of application. In this, 4Com
plc will collects and gathers ideas from various sources required to build the application
in order to attract their customer for paying online.. Idea evaluation- In this step, Ideas and suggestions are analysed by experts with
reference to the aim behind developing the product. Ideas chosen through this phase will
be used for the development of application. Concept development: In this the chosen idea will be converted into reality by taking
proper decision whether the idea should be implemented or not. In this 4Com plc
management will select the idea for implementation. Development of strategy: In this a strategy needs to be implemented which is considered
and reviewed by the administration of 4Com plc based on the idea. Examine business condition: After implementing the strategy, management of 4Com plc
should evaluate the attractiveness of this newly developed application in terms of sales,
profit and costs. Product development: In this phase, the final features and structure of the application
needs to be selected based on the needs and demands of customers. Test marketing: In this phase, proto-types of products and services are offered to the
customers and experts by the company for collecting their feedbacks and suggestions for
improvements in the final product.

 Commercialisation: In this stage, 4Com plc should investigate about the various
segments where the company can launch their services for increasing the productivity and
performance of the product efficiently (Rasmussen, 2010).
P6: Innovation Business Case for 4Com plc for accessing funding
Business cases are useful for providing new and improved products and services for
meeting the requirements of consumers. For providing these innovations to the market,
companies need huge amount of investment for developing the better product. Money is essential
for setting plans and operations for the development of the new mobile phone application. This
new mobile application allows the users to easily pay directly online to the company without any
worries of going somewhere. 4Com plc should use following ways for accessing funds:
 Crowdfunding- It is the process of gathering small investment from a large number of
peoples mainly through online sources. 4Com plc should use the crowdfunding for
increasing their funds in order to invest more in technology for launching their mobile
application (Scholz, 2015).
 Angel investors- 4Com plc should approach to angel investors with the objectives and
purpose of developing the application. Angel investors provides investment ranging from
$50,000 to $500,000 based on the growth status or efficiency of application in fulfilling
the customer needs.
 Venture capital- These types of investment are required for high growth of organisation.
4Com plc need huge amount of money for introducing their application in the market.
Investors with money will review the goals, risks and viability of the application and
provide the money if growth is possible.
Vision- To become the number 1 choice of consumers for delivering the quality products
and service by working Faster, simpler and together.
Mission- 4Com plc aims to provide different products from different channels in order to
make shopping easy for the customers independent of their location and time.
Objective- To become the most trusted retailers in United Kingdom by strengthening the
relationship with suppliers, stakeholders, reducing costs and risks, in handling poverty, climate
change and inequality.
To measure effectiveness using appropriate techniques

Brainstorming- It refers to the team efforts for reaching at a conclusion of problems by
collecting ideas. The creative teams of 4Com plc discuss various ideas before choosing
appropriate ideas for formulating in the application.
Critical thinking- It is the evaluation of ideas to form a decision. 4Com plc management
needs to critically evaluate the mobile application before launching it to market in order to
measure its attractiveness (Schröder, Baaken and Korff, 2012).
Interrelation of innovation and return on investment
This process includes the identification of the required funds by company for launching
the new mobile application to the market. The management of company has to identify the
various sources through which they can raise the funds which are required for the application. A
investor is easy to find but the terms and conditions for investing are relatively dangerous. The
investor asks for a return on investment in order to get their profit share. Innovation is related to
ROI as the innovative products and services are tends to satisfy customers as well as market
needs and company gets huge profit, so the investors just take a little portion of that profit in
terms of ROI. For example: The application which is launched by the company can increase the
revenue of the company as well as also the ROI. Through this customers can pay directly to the
company which will save the amount of taxes and other charges and this app will work for the
favour of the company. Company's sales can strengthen because of this application as customers
prefer online payment then cash and are tends to go for online alternative than cash.
TASK 4
P7: Different tools to protect, develop and retain intellectual property and knowledge
Intellectual property :- Intellectual property is a class of property which involves
intangible creative activity of human intelligence and mainly include copyrights, trademarks and
patents. It also consists some other rights like – publicity rights, trade secrets, right against
slanted competition and moral rights. In other words it is human mind's creations such as –
symbols, literary and aesthetic works, designs, inventions, images used in transactions, etc. It is
the security of creations of brain which have both mercantile and moralistic value.
Different tools for protection of intellectual property:- There are different tools to
protect intellectual property. Some of them are described under:

Copyrights:- Copyright is only set of rights and restricted legal monopoly which is given
to a copyright bearer for their original and creative work. It is a legal tool used to protect the
rights of originator on their composition and artistic works. In context to 4com Plc the company
can use this right for innovative products having two elements – economic and motive rights.
Moralistic rights are not conveyable and give right to object to any mutilation or damage of the
creation to the owner. Economic rights refers to those rights which protects the invention use in
different ways to the innovator (Theyel, N., 2013).
Patents:- Patent is an effective tool which gives property rights for invention to the
proprietor. It also protects the creation from making, using or selling by others. In context to
4com Plc the company can take advantage of this right to take state against others who copy their
proprietary discovery, invention and product's design. Anyone can use products, related
processes, business designs without any fear, if company don't have patent rights. The company
should file for patent rights within 12 months of creation. And if it fails to file in 12 months for
their innovation, in that case the opportunities of patent has departed.
Trademarks:- Trademarks main aim is to create a link for different products and
services in the consumers mind produced by the company. It refers to a word, sign, symbol,
design or phrase which apart various commodity and services source of a business from its
challengers. In context to 4com Plc the company can use this tool for their new products which
involves specific names, letters, personal logos, product shape, words, packaging, attributes, etc.
in order to compare their products with another competitor companies.
Design rights:- It is also one of the tool to protect intellectual property or rights. Design
is related with the products characteristics. It involves two dimensional attributes such as lines
and colour of product, and three dimensional attributes are – shape, surface and texture of the
creation that is protected by design rights (Wynarczyk, 2013). In context to 4com Plc the
company can use design rights to protect their products patterns, shape, texture, colour, lines etc.
from other competitors. It also involves right to offer, import or export or product use according
to the designs incorporation and application.
CONCLUSION
It has been concluded that innovation and commercialisation is useful for the
development of 4Com plc. The organisational culture, vision, teamwork and leadership should
help in shaping innovation and commercialisation in the company if the management considers