Comprehensive Report: Innovation and Commercialisation at F-drone

This report delves into the innovation and commercialization strategies of F-drone, a company focused on developing innovative drone technology. The report begins by defining innovation and its importance compared to invention within a company context, specifically highlighting F-drone's goals. It explores how vision, leadership, culture, and teamwork can structure innovation and commercialization. The report also examines various sources of innovation and how a company can foster an innovative environment. The 4Ps of innovation (Paradigm, Product, Process, and Position) are explained and applied to F-drone, along with the concept of frugal innovation. The importance of the commercial funnel is discussed, alongside an analysis of F-drone's innovation business case and an evaluation of intellectual property tools. The report concludes with a summary of the key findings and recommendations related to F-drone's innovation journey.

Innovation and
Commercialisation

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAINBODY ...................................................................................................................................3
PART 1............................................................................................................................................3
TASK 1 ...........................................................................................................................................3
P1 Define innovation and its importance within company in comparison to invention........3
P2 Explain how vision, leadership, culture and teamwork of company can structured
innovation and commercialization.........................................................................................5
M1 Examine various source of innovation along with it, how company can foster and
develop innovative culture and environment.........................................................................6
TASK 2............................................................................................................................................6
P3 Explain 4Ps of innovation with its use in order to examine and shapes innovation ideas.6
P4 Demonstrate development in frugal innovation with application in context of company.7
M2 Innovation funnel in context of company........................................................................8
M3 Functions of Frugal innovation........................................................................................9
PART 2............................................................................................................................................9
TASK 3............................................................................................................................................9
P5 Importance of commercial funnel and its use of new products development...................9
P6 Innovation business case of company.............................................................................10
M4 Evaluation of innovation business case.........................................................................13
TASK 4..........................................................................................................................................13
P7 Analyse different tools to develop, retain and protect knowledge and intellectual property
of organisation......................................................................................................................13
M5) Evaluation of intellectual property tools .....................................................................14
CONCLUSION..............................................................................................................................14
REFERENCE.................................................................................................................................15

INTRODUCTION
Innovation refers to something new or to a change made to an existing products or in
other terms it can be defined as a basic process which is used for the purpose of creation of
values for end users. The main aim of innovation is to grab more people by offering innovation
products to them. In each company there are desired desired goal and objectives that have to be
attain in course of business. In which commercialisation refers to a process that holds
relationship between how manufacturing and supply strategies can be used for improvement of
efficiency within company (Razak and Murray, 2017). In order to understand how innovation is
developed, embedded and measured in company for this the present report is based on F- drone,
in which they are building worlds first transition drone that permits aerial deliveries to ships and
offshores platform. There is a discussion about innovation and invention for achieving the goal
of business unit. Vision and leadership is also carry out for shaping innovation so that desired
goal will be achieved within stipulated time period.
MAINBODY
PART 1
TASK 1
P1 Define innovation and its importance within company in comparison to invention.
Innovation: It is a process or methods that is used for adding the values in products with
the aim of achieving success and growth in business unit (Mattila, 2017). It aids in capturing
huge market shares. In order to build a suitable image there is a requirement of innovation and in
case of F-drone there is use of innovation for purpose of launching a new aerial drone which
consist a combination of heavy payload and long range capabilities. By this the drone will able to
move like a fixed wing aircraft.
Inventions: It refers to generating something new and not in existing products or service
within company. It is very useful for attaining success as well as for increasing the values into
products for satisfying consumers (Rotstein, 2019). Such as military drones, commercial drones
and toy drones all are the examples of inventions of drones. All these required a lot of research
for attaining particular objective related to innovation.
Importance of innovation over invention.

Reinforced brand: Firm's brand plays a vital roles in capturing huge shares of market.
This is a basic process that helps company in achieving more innovation for a corporation. In
which there are various driving forces that are assumed for the purpose of achievement of
growth. Along with this it enables in maintaining the sustainability of business for longer period.
Helping in growth of company: It has been founded by many researcher that innovation
provides assistance in expansion and growth of business in effective manner too. It provide
continuous supports and growth for fulfilment of company requirements. As well as the another
use of this is to reduce risk and theft that is exist in external market within industry.
Creating a unique selling point: With reference to innovations, it holds that things which
are differ in values with relation to company and their products (Seclen and Barrutia, 2018). It
assist in gaining high advantage to company which aids in changing of requirements based on
external environmental needs.
Difference between invention and innovation
Basis Invention Innovation
Meaning It tends to new strategies that
the adapted by business unit
with the aim of launching a
completely a new product in
market. There is invention
and that does not possess any
relation with existing products.
This process is linked with
creations and generation of
new ideas for the development
that are related with existing
products that is being
developed in company. This is
very helpful for making new
innovations as well as for
increasing utility of specific
product or service to their
existing and future consumers.
Concept This concept is used for
providing services that are
better to be used by confident
customers within society. All
invention is made for different
This mainly relies on
increment of values in a
specific product and that will
be provided to their
consumers.

targetted segments of
consumers and a specific
inventions could possess use
of single segment and other
may not be.
Activities This is limited with the
research and development
approach.
This will spread in entire
company and cannot be limited
with a specific department of
business unit.
P2 Explain how vision, leadership, culture and teamwork of company can structured innovation
and commercialization.
Every organization posses their primary tow motives i.e. growth and long term survival
and that can be achieved by business organisation with the help of long run (Seok, Han and Kim,
2018). In which there are several elements which helps company in attaining the overall desired
objectives that behaves as a differentiated elements for firm.
Organizational vision: It refers to goal and objective of company or action that helps
company in foster innovative ides for firm in order to achieved the goal of company. In
relevance to this companies are using their overall vision as a tool of communication for
achieving desired objective. It tends an inspiring actions that assist mangers for proposing the
engagement of employees towards goal. In context of F-drone they possess a vision of becoming
leading company within drone manufacture.
Leadership: This deals with guidance and path for attaining objective of company.
Effective leader have quality and capabilities to influence their members for performing
effectively so that they will able to attain their goal within small time period. Leadership skills
are used by the chosen firm for adopting transactional and transformational leadership with the
aim of adhering new process positively. For the same changes are not easy to adhere in any
company. So F-drone faces so many challenges while adhering changes like they faces resistance
from employees towards changes. Not it is the duty of leader to use leadership style in effectual
way so that employee will able to accept changes easily within company.

Culture :It refers to language, background, religion and lifestyle of company or an
individual. This is considered as an art of company and the term organisational culture refers to
internal environment of company which shares attitude, habits and overall beliefs within firm.
Selected firm is inclined to attain desired objective based on innovation that are being executed
in future (Szutowski, 2019).
Teamwork: It is very essential for a company to perform task together with co-ordination so that
success will be achieved in executed task. In context of F-drone, the team of company have been
made by senior executives so that each department will possess specific number of employees
who are focusing towards goal of company. It aids in improvement of skills of workers at
various horizontal in company.
M1 Examine various source of innovation along with it, how company can foster and develop
innovative culture and environment.
For F-drone it is very important to attain desired goal within small period. In which there
are various different rising business that aids in gaining competitive advantage in market. With
the help of various sources it can be possible and there sources can be research, engineers and
innovation that has been adopted by chosen company in executing the creativity in new
innovation.
TASK 2
P3 Explain 4Ps of innovation with its use in order to examine and shapes innovation ideas.
Innovation is used with the aim of generating creation and development in new products
for improving the overall effectiveness within market (Uctu, and Jafta, 2018). In which the 4ps
of innovation has been developed by Bessant and all Ps are used for implementing the given
result in small time. Paradigm, product, process and position are the four p of innovation. In
context of F-drone all are explained below:
Paradigm: It is a first factor which is used for identification of several modes that has
been generated for increasing the effectiveness in operation of company. In context of F-drone, it
has been identified that this is a system innovation which aids in understanding the future modes
of new innovations.
Product: Innovative products are introduced in market for grabbing more consumers
towards products. And implementation of new ideas will help in influencing more peoples. In

relevance to chosen company, innovation in product will aid them in attracting more consumers
like new aviations grade drone that would set high safety and reliability standards as well as
incredible specs that can take off vertically and fly like a fixed wing aircraft.
Position: This element deals with targetted market in which it helps in deciding the
targeted market of company. For which F-drone is wishing to launching new innovation and
incredible products in order to attain goal of company in term of increasing sales and profit
margin. The overall process of development of new products with innovation and creations is
totally differ from existing prevailing product.
Process: In relevance to this the management team of company posses responsibility to
carry out effective and appropriate analysis in order to adopt manufacturing of new products
(Wimschneider, Agarwal and Brem, 2020). Entire process that is used for propulsion of fresh
products like F-drone using online channels along with offline. This will aid in reaching their
loyal consumers with both mediums.
Innovation funnel: It can be said that it is a mechanism which is used for the purpose of
constant flow of information in effectual and unique manner. It is used by many organisation for
implementing and spreading awareness about innovative products. As well as for launching
various innovation ideas in marketplace. It includes three major steps and all are described
below:
Investigation : This is the initial step of innovation funnel and used by assessing the
situations that are useful in plan development for future adoption. Along with this, is used for
carrying out detailed investigation of macro environments in order to introduced any innovation
by specific company. In relevance to selected company, they have particular research group who
have been allotted task in order to perform a detailed research that gives outcomes of market
situations as well as action and actives of other players before adopting new plan related to
innovation.
Development : This is second stage of funnel innovation and used for development of
target market by which a company will able to launch product. F-drone presents the existing
market where their products are already present like market of Singapore for launching their new
innovative products or services.
Product delivery: This is final stage of innovation funnel which is used for the purpose
of development of new product that have to launched in market (Donegan, 2019)(Jakobsen,

2019). This is used for overall growth after innovations has been launched in market. In
relevance to F-drone, after new product or service has been launched.
P4 Demonstrate development in frugal innovation with application in context of company.
Frugal innovation : It can be defined as a process that helps company in reducing cost
and complexity of production along with product. This removes unnecessary activities from
manufacturing process that saves cost and raise profit margin of goods. With the help of this
method, it become easy for firm to lower down cost of production in positive way. Frugal
innovation is carried out by higher authority of F-drone for making modification in process as
well as to earn profit in effective manner. For instance F-drone wish to launch aviation grade
drone in order to deliver supplies of Arial transportation to ships and offshore platform. This will
assist company to attract more consumers towards their services so that they will able to increase
their market shares of company.
Additionally there are various companies like Airspace, Detroit, Arone etc. are using
frugal innovation concepts in effective manner. It is all about to offer high quality &valued
products at lower price and that affects positively with respect to profit. With the help of this the
average cost of delivery will be reduced by boat . It assist in developing unique , innovative and
bew business model that will be reliable, durable and sustainable (Virtanen and Pellikka, 2018).
In context of this there are various principles of innovation that is thinking and acting, flexibility
as well as gaining more with less.
Idea generation: At this point, new idea will be generated, in context6 of F-drone they
are launching a hyper launch heavy drone namely, Proprietary drone which can carry 100 kg
over 100 km and if this got failed then they have to generate new ideas for grabbing more
consumers towards their services.
Feasibility: In this step, once the idea is generated then management team of company
need to analyse the driving forces of external environment that whether it is viable to launch new
idea in market or not.
Capability: This will be assessed on the basis of optimization of services like Proprietary
drone can carry 100 kg over 100 km at a single time . This tends to capability of product.
Launch : In this actually the product or service will be introduced at target segment of
market by company. For instance F-Drone launched fully electric, autonomous and aviation

grade drone successfully and now they are seeking to launch Proprietary drone with mid 2021
(Ahmadi and O'Cass, 2016).
M2 Innovation funnel in context of company
Innovation funnel is a methods that is used by companies for generating new ideas by
declining the overall cost of production in order to increase profit of margin. It is used by the
management team of F-drone company for developing innovative and unique ideas. That will
helps in raining productivity and sales of firm. In context of Proprietary Drone, the delivery cost
will be reduces as it can carry 100 KG for 100 km in a single pass. Additionally, this will help in
gaining competitive advantage, opportunity and knowledge related with new trends of market
and by this company will produces products on the basis if consumers requirements and market
demands.
M3 Functions of Frugal innovation
The main purpose of frugal innovation concept is exponential decline of cost by
improving manufacturing process within corporation. With the help of this F-done are launching
Proprietary drone which reduces the cost of supply as it can deliver 100 KG over 100 km in a
single pass and the ship will not able to carry that as it required a lot of cost. With the help of
this, F-done company will able to attract ample number of consumers towards their services.
Additionally this company will help in analysing the target market like the target market of F-
drone are ships and offshores platforms.
PART 2
TASK 3
P5 Importance of commercial funnel and its use of new products development.
Commercial funnel tends to a process that target segments in such manner which leads to
consumption of goods and services that is provided by company at marketplace (Mazzarol and
Reboud, 2017). In context of this, it is essential for company to identify the needs of end users so
that company will offers according to them. With the use of this commercial funnel management
team of F-drone will able to spread awareness about new launching products at marketplace
along with new features and characteristics. Additionally, this will assist them in determine the
potential consumers which h will raise the consumer base and profit. Furthermore, identification

of market supports firm to cope up with flexibilities and issues that may be arose in future. As
well as in promoting new products in effective way by undertaking activities which are involved
in promotion at marketplace. With the help of commercial funnel, it become easy for the manger
of F-drone to launch new product and gain success in execution within stipulated time period.
New product development process: This refers to a step wise process which aid in
introducing goods / services in effective manner at right time within appropriate consumer of
company. In context of F-drone, all steps of new product which is Proprietary drone that carries
100 kg weight over 100 km is discussed below:
Idea generation: In this company is planing to launch Proprietary drone in market within
2021. With the aim of reducing the delivery costs, time, manpower and carbon emissions in
marine compare to ships. This will helps them in grabbing more consumers as well as in
increasing sales of company.
Screening: At this point all ideas will be scrutinised by assessing that which one ideas
will be suited more and aids company in attracting more number of consumers this will be
carried out by research and development department of company (Webb, Cruz and Walsh,
2017).
Development of concept: Herein, testing of selected concepts took place and that is
emphasis on legal formalities, designing and technical feasibility.
Marketing strategy: Effective strategies related to promotion is developed in this step.
The managers of chosen company select target market in order to deliver services like their
target market can be offshore and maritime industry (Fernandes, Ferreira and Peris-Ortiz, 2019).

In order to carry out promotion they are using social media, blogging and YouTube. This is
carried out with the aim of increasing market shares and revenue generation of company.
Business analysis : In this evaluation related with the acceptance is carried out. For
instance. The management team of F-drone will analysed whether the launching provides
benefits or nor in terms of market shares and profit.
Development: This is a crucial and important step in which expansion of goods and
services is carried out by offering innovative product at marketplace. At this point the plan is
executed and implemented related to new launching product.
Test marketing : The launching product will be tested in this stage on the basis of set
strategies in order to know the effectiveness of innovation at market (Zhang, Jin and Guo, 2017).
It will be tested in launching market which can be either offshores or maritime industry. .
Commercialisation or launching : This is the final stage where product will be launched
at marketplace in effective manner with the help of using effectual strategies.
For instance, F-drone wish to launch a Proprietary drone which need to possess capability
to carry 100 kg load over 100 km so this is the idea generation for F-done. Before launching,
they need to perform various function like they have to carry out market analysis like whether
the ideas will become beneficial for them or not and with the help of various promotional
activities like social media marketing, you tube etc. after market analysis and business analysis,
there is requirement of launching the ideas into reality.
P6 Innovation business case of company
Steps Description
Summary Under this, company is looking forward to
develop unique and efficient transition drones
to ensure effective delivery to ships and other
offshore platforms.
Objective The objective of company to be leader in the
drones industry in upcoming 5 years by
developing innovative and unique drones
which can deliver heavier goods.

To develop innovative drones to transit heavier
goods from one place to another in an effective
manner.
Vision To increase the presence of company in global
market and act as market leader.
Solution It is necessary for entity to undertake effective
strategies in order to achieve desired goals to
be a market leader in drone industry.
Innovation in product Company is looking forward to use proprietary
drones that can transit 50 kg load over 50 km.
This is an innovative approach that will
provide huge competitive edge to company.
Funding
Benefits
To introduced new product F- drone requires
fund that can be get from internal as well as
external sources such as banks, crowd funding
and many more. In case of respective entity,
bank loan is used to get necessary money for
further innovation (Expósito, Fernández-
Serrano and Liñán, 2019).
With the help of new and innovative drones
launching F- drone will be able to formulate
positive image of brand at market place. In
addition, it will help managers to provide
effective logistics management services to
customers to transit goods from one place to
another place in minimum possible time. This
innovation is essential to get competitive edge
and sustains at market place for a longer period
of time.