Comprehensive Innovation Report: Strategies for Ensoft Ltd's Growth

This report provides a comprehensive analysis of innovation, focusing on its significance and practical applications within a business context. It begins by differentiating innovation from invention and exploring the impact of organizational vision, teamwork, leadership, and culture on shaping innovation. The report delves into the 4Ps of innovation (product, process, position, and paradigm) and the use of innovation funnels. It further examines frugal innovation, commercial funnels, and the application of new product development (NPD) processes. Additionally, the report covers the formulation of an innovation business case and explores methods for accessing funding and protecting intellectual property rights, providing a holistic view of innovation management.

Innovation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and its significance in comparison with invention..............................................1
P2 Organisational vision, teamwork, leadership and culture can change shape of innovation...3
TASK 2............................................................................................................................................4
P3 4p's of innovation and uses of funnel innovation..................................................................4
P4 Development in Frugal innovation in context to company....................................................5
TASK 3............................................................................................................................................6
P5 Importance of commercial funnel and application of NPD processing.................................6
P6 Innovation Business Case for business organisation.............................................................7
TASK 4 ...........................................................................................................................................8
P7 Tools that organisation can use to develop, retrain, intellectual property.............................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is refers as emergence of new idea which is mainly applied to ascertain better
solutions which helps to meet out the outsiders requirements and existing marketing needs. This
will enable the organisation to make their products and processes more unique and effective
which provides the opportunity to gather desired results within given framework of time. There
are large number of benefits which are gathered by organisation includes competitive advantage,
higher number of sales and profit, betterment of internal processes and higher involvement of
employees etc. Ensoft Ltd. Is software company which produces ready made software's for
construction applications (Baraldi and Waluszewski, 2011).
In the present report explain about concept of innovation along with their importance,
difference between innovation and invention, contribution of organisational vision, leadership
and culture in process of shaping innovation and commercialisation, 4P's of innovation and
application of innovation funnel, different developments in frugal innovation, importance of
commercial funnel and application of new product development for commercialisation of
innovation. Also, formulation of innovation business case along with ways to access funding and
application of tools which is mainly used regarding protection of intellectual property rights.
TASK 1
P1 Innovation and its significance in comparison with invention
Innovation: It refers as the process which includes transformation of ideas into valuable
goods and services for which consumers will ready to pay. In the process of innovation
imagination is used and initiatives are taken regarding creation of something different from of
available resources which helps in generation of useful product. This is basically used by
organisations to satisfy the needs and expectations of customers (Bianchi and et. al., 2010).
Ensoft Ltd. Is manufacturing organisation which produce ready made networking
software's. It is small organisation in terms of scale and to survive in market effectively requires
to adopt innovative approaches which makes them different from their competitors and helps in
attraction of more number of clients. Bringing innovation helps Ensoft Ltd. To make their
internal structure more strong and profound. Innovation is required to adopt in every aspect of
working such as administration, marketing, production etc. This will enables them to make more
effective and new software's which easily cater the diversified needs of their clients. The will

enables the organisation to easily capture large market share and attain sustainability in their
operations in future period of time.
Importance of innovation
There are large number of benefits are associated with the concept of innovation which is
achieved by the organisation while adopting effectively within the organisation. Basically, it
provides the opportunity to complete their objectives within stipulated period of time (Bradley,
Hayter and Link, 2013). The different types of benefits which are attained by Ensoft Ltd.
Through bringing up innovation is defined below:
 Attraction of more clients: Ensoft Ltd. Is software organisation which builds ready
made software's for clients. Application of innovative ideas helps the organisation to
make changes in their software's as per the specifications provided by the clients.
Satisfaction of the requirement of clients helps in making of good bond with them which
results in attraction of large number of clients in future period of time.
 Competitive advantage: It is assessed that there is huge competition is present in
software networking market. There are many big organisations which produces different
types of software's ass per the need of clients. The only aspect which enables the Ensoft
Ltd. To attain competitiveness in their operations is to apply innovate approaches while
producing new software's. This will helps in development of more quality software's
which possess large number of new features which makes the work of client for easy and
effective (Caniëls and van den Bosch, 2011).
 Improvement of communication: Communication is important aspect which helps to
perform organisation functions with more effectiveness. It is mainly used regarding
disbursement of roles and responsibilities to the employees of organisation. Bring
innovation in administration process helps in improvement of overall communication.
This will enables the organisation is to store their past data effectively from which
important important information is easily interpreted as per requirement. This will helps
the management of organisation to effectively take information based decisions and
accomplish their objectives within given period of time.
Invention: It is refers as the process which includes creating of something new. This will
includes application of new ways for attaining end results. The conditions which are required to

satisfy to become invention includes results in something new, required to involve innovative
step and need to be useful.
Challenges facing by organisation at the time of innovation
 Need to deeply understand customer needs and preferences because it can be frequently
changed over the period of time. To bring innovation effectively within the organisation
need to address such preferences.
 Improving or replacing business processes is difficult aspect for small organisation as
requires need to large amount of funds.
 Required to meet rapid changes happen customer behaviour. It is important to consider to
make bring innovation effectively.
Difference between innovation and invention
Innovation Invention
The activities related to innovation happen in
whole organisation
The activities related to invention is only
restricted towards to the R&D department
This will helps to bring total change in whole
organisational process
It may provide some fewer changes within
organisation
It follows invention Precedes innovation
This will includes application of new ideas to
bring improvement in their existing products
Here more emphasis is provided on
development of new product which is different
in all terms from existing one.
It is discrete creative act It is related to some improvement in existing
product, process or service.
For prevention required to take patent from
misuse of their idea
Innovation is related to modernisation which
includes invention of something new
P2 Organisational vision, teamwork, leadership and culture can change shape of innovation
There is significant role is played by vision, teamwork, leadership and culture in shaping
of innovation and commercialisation within organisation. Clear vision of organisation enables
the employees to clearly understand the objectives according to which they have to perform their
tasks (Cooper, Seiford and Zhu, 2011). Simultaneously, culture is important aspect which helps

to bring coordination among the employees and removal of conflicts which contributes in
improvement of overall performances and accomplishment of objectives within stipulated period
of time. On the other hand, leadership and teamwork is such aspect which improves the passion
of employees towards work and helps in generation of new innovative ideas of working. All
these important aspects are used by Ensoft Ltd to bring innovation and commercialisation which
are defined below:
Vision: This will depicts the future objectives of organisation. This will be further used
by the manager of organisation in disbursement of roles and responsibilities to employees. The
vision of Ensoft Ltd. Is to capture large market share through cater the diversified needs of
clients. They also have the objective about expansion of business operations in effective manner
to get desired results and improvement of overall profit of organisation. Development of
innovative goals forces employees of organisation is to design their working and thinking
according to such needs.
Culture: It is important for organisation is to focus on cultural aspect in effectively
achievement of their products. It is the duty of organisation is to remove cultural differences
which is present between the employees and affects their performance. In this regard, Ensoft is
required to provide norms, values and beliefs which are followed within the organisation
(Crossan and Apaydin, 2010). This will helps in development of communication between the
employees which motivates them is to share their own ideas and views freely which leads in
innovation within the organisation.
Leadership: This will about application of leadership approaches by the leader of
organisation to motivate the employees to use new ideas of working and application of new
technologies in completion of tasks. This will have huge importance in process of improvement
of their passion towards their work and achievement of desired results. Good leaders always
ready to face the challenges and accept the tasks from front and provides adequate guide to the
employees which helps in bringing innovation within organisation
TASK 2
P3 4p's of innovation and uses of funnel innovation
4P's of innovation

The process of innovation includes four different aspects which are known as product,
process, position and paradigm. All the four different P's of innovation is defined below:
Product innovation: It is refers as the process of making the existing products of
organisation more unique and better. Here, innovation is takes place in production process to add
some innovative feature in their existing products to cater the diversified needs of clients present
in market. Here, employees of Ensoft Ltd. Provide more emphasis on making of software's more
attractive and innovate which easily attracts the clients. (Dries,Pascucci, Török and Tóth, 2014).
Process innovation: Here, more emphasis is provided on making the overall production
processes more better and unique which is different from others and helps in emergence of more
quality final products. The main advantage which can be achieved through bringing up
improvement in process is improvement in terms of output and frequency of products and
services. This will help Ensoft Ltd to build good quality software's and improve their market
share through capturing prospective buyers.
Position innovation: Here more emphasis is provide on the aspect related to changing of
perception of customers while purchasing the products and services. It is important for small
organisation is to oversee this aspect as this enables in fulfilment of their needs in effective
manner.
Paradigm innovation: This will includes the activities related to redefining of dominant
paradigms of an organisation or sector. It is related to mental models which helps in shaping of
innovation within business organisation. In this regard, Ensoft Ltd. Is required to bring changes
in their internal structure to make it more effective through which they can easily explore the
future opportunities and attain success in market. This will enables the employees of organisation
is to use new technologies to complete their tasks and accomplish organisational goals (Edquist,
2010).
Innovation funnel
The main objective behind adoption of such developments is to satisfy the different needs
of customers and clients. The different steps which are included in the process of innovation
funnel is defined below:
 Wide of mouth: Here more emphasis is provided in the process of development of skills
and knowledge. This will need to carried because generation of new ideas to make the
existing working of organisation more effective and reliable. Here, Ensoft Ltd. Is decided

to collect the information from market through application of primary and secondary
sources (Gray, 2011). The methods and tools which can be used for collecting
information under primary method includes survey, questionnaire, poll etc. On the other
hand, secondary sources helps in collection of information from the published sources
which includes magazines, books, internet etc.
 Narrowing segment of funnel: Under this step, required to to determine the ideas which
are more reliable and authenticate. In this regard, need to match their ideas with their
existing business objectives and identifying the best which is most suitable and helps in
achievement of desired results.
 Narrow segment of funnel: It is the last stage, where above selected ideas are
implemented within the organisation in actual scenario for production of new products
and services as per the specifications and requirements (Guan and Chen, 2010).
(Source: Innovation funnel, 2017)
P4 Development in Frugal innovation in context to company
Frugal innovation: In such type of innovation more emphasis is provided on the process
of removing complexities from production process which results in reduction of overall
manufacturing cost. This can be achieved by the organisation through removal of unwanted
resources which is part of earlier production process. This will provide the opportunity to the
organisation is to manufacture more unique products at affordable prices to their clients. The
Illustration 1: Innovation funnel

main benefits which are attained by organisation through frugal innovation includes high quality
products and increase in the number of sales (Huang and et. al., 2012).
In the present report, Ensoft Ltd. Has the aim is to build new software's to capture large
market share. Production of low cost software's helps in improvement of their profit margin
which enhances their overall profit earning capacity at the end of year. The new software which
is provided is frugal in nature as it does not includes the feature of live tracking as it doesn't
important for small companies. Otherwise, software is providing all functions. The aspects which
depicts the development in frugal innovation is defined below:
 Reduction of production cost: It is the first step in process of frugal innovation to
reduce production cost through removal of unwanted resources.
 Developing new features: This is second important aspect which includes adding up of
new features in their products to make different from their competitors.
 Application of new technologies: This will includes about changing of the whole
process of working through adoption of new technologies which improves the efficiency
of organisation (joshi, Chi, Datta and Han, 2010).
TASK 3
P5 Importance of commercial funnel and application of NPD processing
Commercial funnel: This will refers as the process where initiatives are taken regarding
influencing the buying behaviour of buyer at the time of purchasing products and services. This
will provides the opportunity to the organisation is to improve their number of clients and
customers. The process which helps to attain success in this activity of influencing the behaviour
clients is to bring changes in the existing features of their products to make it more effective. In
this regard, Ensoft Ltd. Is required to make changes in software applications as per the current
demand in the market to make some new clients through fulfilling their needs.
Importance of commercial funnel
There are large number of benefits are attained by Ensoft Ltd. Through adopting of the
approach of commercial funnel. Such different types of benefits are mentioned below:
Improved quality: The main aspect which is associated with the activity of commercial
funnel is adding up of new features in their existing products to make it more better. This will
enables the organisation like Ensoft Ltd. is to improve quality of their products.

Reduction of losses: New technologies are used for the purpose of adding additional
features in products. Application of such technologies results in reduction of cost and
improvement of profit margins as premium prices could be charged to consumers (Ke, Fang,
and et. al., 2015).
Higher brand image: Development of products not only helps in capturing large market
share and increase in the number of clients but also contributes in building of good brand image
in market.
New product development
It is refers as the process of production of new product as per the requirement of
customers. In the present report, Ensoft Ltd is going to develop new software's as per the
specifications provided by clients. The main aim behind such developments is to increase their
number of profits through attaining competitive advantage in market. The process which is used
for NPD is defined below:
Generation of idea: It is first step where think about the different ideas through
developments should be made in their products or new products are developed. The basic aim
upon which more emphasis is provided while generating idea is about improvement of quality
and reduction of cost of production.
Screening of idea: This will includes the process where best alternative or idea is
selected from large number of alternatives which contributes in achievement of desired results.
Define Concept: In this step required to to do the testing of the concept which is
involved in the process of producing new product. The aspects on which required to provide
more emphasis includes legalities, patent research, designing, technical feasibilities etc.
Marketing strategy: Under this step new strategies are build to attract the new clients.
The steps need to carried in this process includes:
 Determination of target market
 Fixation of effective distribution channels and formulation of budgets for direction of
employees
Business analysis: This will includes the process of determination of attractiveness of the
new software produced by Ensoft Ltd
Product development: Here, need to link usage of new software with old one and create
the actual path of development for new software (Lin, 2010).

Test marketing: It is refers as the process of testing of actual marketing strategies which
are used by the organisation for ascertaining their effectiveness. This step focuses on identifying
viability of product in context of the market.
Commercialisation: It is final stage which includes providence of software in market in
actual scenario. To attain success in market required to adopt effective promotional tools to
improve number of clients.
P6 Innovation Business Case for business organisation
Ensoft is small organisation which manufactures networking software's for other
companies. Due to having high competition in market it is difficult for organisation to survive in
market and capture large market share. The one aspect which helps to attain sustainability in
operations is adoption of innovative ideas in process of conducting business activities. To
provide it effectively required to build innovative business case which includes information
regarding different aspects are defined below:
Mission statement: The main mission of Ensoft Ltd. Is to effectively satisfying the
different requirements of customers and design their software's according to their specifications.
Problem statement: The main issue which are faced by cited organisation in achieving
particular mission about happening of frequent changes within technologies.
Proposed solutions: Here, required to conduct proper market research which provides
the opportunity regarding assessment of all the changes timely which are happen within the
industry.
Executive summary: Ensoft is software networking organisation. It is small organisation
which provides their business functions in UK. The main objective of organisation is to attain
success in market through adopting innovation in business activities (Vishnevskiy, Karasev, and
Meissner, 2015). This will includes formulation of new software's as per the requirement of
clients. The marketing strategy which is used to increase number of clients and capture large
market share is related to product differentiation.
Need: To build new software's as per the different specifications of clients to cater their
needs
Solution: To attain success in this aspect required to analyse the market to ascertain the
information about competition and adopting of best pricing policies for their new emerging
software's.

Research on customers and clients: Here, more emphasis is provided on determination
of the preferences of clients. This will helps to understand the buying behaviour of clients.
Design and develop plan: This will includes outlining of whole plan which guide the
employees in the process of producing new software's and their actual promotion in market.
Access funding: This will includes determination of the amount of fund which is
required to produce new software's by Ensoft Ltd. Bank loans is the optimum source which is
mainly used here by organisation for the purpose of funding (McCoy and et. al., 2010). There are
two types of methods which can be basically used for funding includes internal and external.
Internal sources are such which includes such sources which are present inside the organisation.
On other hand, external sources of funding includes creditors, banks, financial institutions,
government agencies etc.
TASK 4
P7 Tools that organisation can use to develop, retrain, intellectual property
Ensoft Ltd. Is networking software organisation which builds innovative software's as per
the needs of clients. The best way which helps the organisation to attain success in their
operations is to adopt the concept of innovation and invention. All the innovations and
inventions which are made by organisation required to secured through application of effective
tools for its prevention from unauthorised use by outsider parties. It is the prime obligation upon
the management of organisation is to identify the different types of tools in this regard which
helps to retain and secure their intellectual property rights. Intellectual property is refers as
intangible creations of the human intellect which includes copyrights, patents and trademarks.
The other type of rights which are included in this is about trade secrets, moral rights, trade
secrets etc. The main tools which can be basically used for the purpose of securing such kind of
rights includes patents, trademarks and copyrights. All the three tools are different in nature from
each other and having different advantages for organisation. The functioning of all three tools in
the process of securing intellectual property rights is defined below:

Patents: It is refers as the tool where right is provided by government to inventor for
limited period of time in respect of disclosure of all the information regarding their invention.
The main purpose behind taking patent over their new invention is to restrict other parties is not
to recreate same thing through application of same technologies without their permission. So,
application of provisions of this tool provides full security to the inventor against their new
invention. The application for taking patent is required to provide by organisation to government
authorities (Plewa and et. al., 2012).
Copyright: This tool provides the exclusive right to owner of invention regarding
disbursement of the right to use of such invention by third parties with the consent of inventor.
Here, right is provided regarding copy of original invention. Only such person is allowed to
reproduce the work to whom right is provided by inventor. Not any other person are allowed to
use the invention without consent of owner of invention (Micheli and et. al., 2012).
Trademark: It is refers as the phrase or symbol which is used for specific product and
service and helps in differentiation of products from others. Use of this mark helps in making of
the unique identify of good in market through which it is recognised in between the consumers.
This will basically used by the organisation to improve their brand image. This right is provided
for 10 years and after expiry of such term required to renew it for further period of time.
CONCLUSION
It has been concluded from the above report that innovation is the process which includes
use of new ideas to produce some innovate products which are unique in nature and different
from others. This is will mainly helps in development of existing product of organisation. There
is significant difference between innovation and invention. Invention includes emergence of new
product which is yet not developed and present in market. There are large number of importance
is attained through application of the concept of commercial funnel by an organisation which is
related to improved quality of products, minimisation of losses, building high brand image etc.
There are many tools which can be used to protect their intellectual property rights such as
patents, copyright and trademarks.

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Online
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