Innovation Strategies and Analysis: Plan.com Report

This report provides an in-depth analysis of innovation within the context of Plan.com, a mobile communication provider. It begins by defining innovation and its significance for businesses, emphasizing its role in enhancing performance, capturing market share, and retaining customers. The report then delves into the importance of leadership, organizational culture, teamwork, and vision in shaping innovation within an enterprise. Furthermore, it explores the 4Ps of innovation (Product, Process, Position, and Paradigm) and the use of the innovation funnel to generate and refine innovative ideas. The concept of frugal innovation is also discussed, highlighting its application in developing cost-effective products and services. The report concludes by underscoring the importance of innovation for businesses to remain competitive in the dynamic market environment.

Innovation

INTRODUCTION
Innovation is an effective activity of producing as well as delivering something new
which may lead in satisfy customers’ needs and demand. With the help of this firm create By
using this concept business organization easily enhance their performance level by add values
within their existing products and services. larger customers base in which they provide them
better convenience. Along with this, it also aids in capturing customer’s attention towards the
company products and services (Donate and de Pablo, 2015). This concept also retains
number of customers for longer time period. As per today’s business environment, use
innovation concept is more important for business in order to make their competitive place in
market place. In absence of this firm fails in attaining better results. Present report is based on
plan.com, is mobile communication provider to its customers. Plan.com is a small company
as they have less than 50 workers within their business. The turnover of this company is not
more than €10 million. This is the research we choose this company. This report discussed
about concept of innovation with its importance which aid in improving existing product line.
Along with this, 4ps of innovation also mentioned in this report. In addition of this, use of
frugal innovation in business is also mentioned here.
TASK 1
P1. Innovation and its significance in enterprise
In current scenario, innovation is an effective concept of adding new and value methods
within their process in order to satisfy customers’ needs and demand in effective manner.
Basically, innovation know by developing a new product with more efficiency in which
company easily create better customers and attain competitive place in market. By
implementing this concept firm easily offer variety of products and services to its customers
for satisfying their needs. It also defines various ways to enhance their image. Thus by
implementing innovation, plan.com easily offer variety and features services to its target
customers. In this, there are some importance of this concept in business organization. All
these are as follows: Increase productivity level of company: It is considering as an important benefit in
which firm serve their services at affordable price. This will save time and cost as
well because it helps company at the time of producing better services. Along with
this, new and innovative ideas define various ways to enhance overall productivity
level at market place. Innovation aid in capturing market share from its rivals. Maintain better communication process: Effective communication is more important
for every business organization at the time of implementing innovation concept. It is
broad concept and complex as well so that it required effective communication which
may leads in reducing the chances of arising obstacles in overall innovation process
(De Massis And et. al., 2015). It assist in increasing profitability of the company at
market. Aid in effective utilization of resources: By implementing innovation concept, firm
use all the available resources in effective manner. This will enhance their better
production process in which company maintain their quality services and offer to their
customers at affordable price. This will contribute in enhancing overall performance
level.

 Provide benefits to business organization: It is crucial for business organization to
make innovative things to invite as well as attract larger number of customers. With
the help of offering new services, firm attain competitive advantage at market place
(Kindström and Kowalkowski, 2014). In context of plan.com, they use innovation for
serving quality services to its customers in order to satisfy their needs.
Along with this invention and innovation both terms are differed from each other which can
be understood by following differences:
Basis Innovation Invention
Meaning Innovation can be said as
concept that is used for
implementing fresh ideas for
the products that are existing
in the market area. By making
certain changes plan.com can
increase the brand image.
Invention is considered as an
activity that happens all of a
sudden. It occurs for the first
time. Under this, the activities
that performed are not yet
attempted.
Concept The concept is applied in order
to add value to the products so
that maximum benefits can be
gained.
Invention is done for the
betterment of plan.com. Thus,
it is performed for making a
new product within plan.com.
Required skills For innovation skills that are
required are related to
marketing, technical etc., in
plan.com.
As compared to innovation,
invention required more
specific skills for example: To
invent a formula it is necessary
that an individual have
scientific knowledge and skills
respectively.
Activities The activities are divided
across various departments in
plan.com so that effective
results are obtained.
Activities that are performed
under this are limited to
research department thus,
confidentiality is maintained.
P2. The way vision, culture, teamwork and leadership of enterprise shape innovation
Innovation is a wider concept and it includes various factors that can affect the
organisation internally and externally (Cheng and Huizingh, 2014). Leadership, vision,

culture and teamwork are the major elements that organisation should consider before
establishing or implementing any strategies and product. Further, it has been explained so as
to understand it in an effective manner:
Leadership and innovation: It is important for plan.com to provide better guidance to
their workers to enhance their motivation so that they effectively execute their duties (De
Medeiros, Ribeiro and Cortimiglia, 2014). Along with this, concept of innovation is also an
effective in which manager should provide guidance to its workers so that they effectively
perform it and attain positive outcomes.
Organisational culture and innovation: Culture define beliefs and features which exist
in business organisation. In this the whole structure of business follow it effectively to
maintain their positive brand image at market place. Along with this, effective culture of the
plan.com helps in encouraging workers to perform well as at the same time also adopt
challenges effectively. In this context without organization culture, implementation of
innovation concept cannot be done in appropriate manner.
Innovation and teamwork: For attaining better success, it is important for plan.com to
develop an effective team in which all the activities can be done effectively. With the help of
this firm maintain better relationship among all the workers and also attain their commitment
towards the company and its goals. By this implementation of innovation can get done in
effective manner (Love and Roper, 2015). Along with this, effective communication also
essential for implement innovation concept in effective manner in order to attain positive
outcomes.
Vision and innovation: It is one of the effective statement in which company define
future aspect where they want to see it self. Thus it is important factor that directly affect the
innovation process of the company in which frim enhance their productivity level at market
place. In context of plan.com easily attain their vision by implementing innovation process in
most effective manner. Along with the main vision of plan.com is to add somthing valuable
within their activities and services to make their products attarctive.
Thus, all these are effective and important factors of innovation concept by which
manager of the plan.com easily enhance their profitability level and maintain their
performance level. Basically all these elements are highly impact on brand image of the
plan.com so that it is important for manager to modify all the necessary changes and
implement it effectively. This will aid in increasing the profitability level by capturing
customer’s attention towards its products and services.
TASK 2
P3 4Ps of innovation and use of innovation funnel to shape innovative ideas
It is considered as an essential element in order to remain in the market for a longer
period of time. Therefore, the concept of 4Ps helps an organization in getting into a superior
position in the market area (Wagner, 2014). Thus, Plan.com is considering all the stages for
gaining maximum profits. Mainly, it includes four steps that mentioned below for a better
understanding:
Product Innovation: Product is made with both tangible and intangible substances
and these are used for making products according to the needs and wants of customers. For

this, it is essential that company carry out an effective research so as to know the requirement
of consumers.
Process: This step highlights the entire process of production from collecting raw
material to converting them into final goods (Cornaggia And et. al., 2015). Therefore, to
manufacture a commodity, product goes through various stages like designing, technical
resources, assembly line, execution of final material.
Position: Under this stage, various kinds of mediums are used by which plan.com
can promote their commodities. Thus, different types of tools and technologies are optimized
in this. This assists the plan.com in gaining better position in market area. Therefore, for
upgrading the position now Plan.com is planning to launch a new application through which
consumers can ask any information related to connectivity.
Paradigm: It is not possible that the ideas which are implemented will give better
results. Therefore, it is important that additional features are added in the commodity on a
regular basis so as to make the product more fruitful. Further it will attract more and more
companies towards the plan.com.
Use of innovation funnel in shaping Innovation
Innovation funnel is a method which is used for converting a product into reality
which the help of unique ideas and thoughts (Smith, Fressoli and Thomas, 2014). Henceforth,
the main aim of applying this concept is to analyse the current trends that are present in the
market area so that better services and facilities can be provided to customers. Therefore,
Plan.com is utilizing numerous methods for the same. As it invloudes various steps to make
overall process is more effective. Under this first step, manager of plan.com should provide
information to its visition and mission to their workers who are includes in this process. In
this the suggestion provide by the workers towards mission and vision is order to attain set
goals and objectives. After this step screening of all the steps help in reducuing the chances
of arising any kind of issues. As a small firm they has less resources in which they needs to
make an effectine plan for attaining set goals and objectives.
Under the last step, appropriate idea will converted into reality. With the help of this
plan.com easily attain long term goals and objectives by effective utilisation of innovation
funnel.
P4 Development in frugal innovation and its use in organisation
Frugal innovation is an effective way which helps in making new and innovative
products and services. Along with this, the main advantage of using this concept is to define
number of opportunities in which firm enhance their profitability level at market place. This
will reduce the unnecessary cost and expenses. In this context, plan.com easily implement
better innovation concept which many leads in attaining better growth level. All these can be
understood by following points: Determine opportunity in adversity: Under this principle, investigator undertake an
effective research in order to remove issues in order to maintain better sustainability
at market place (Slater, Mohr and Sengupta, 2014). With the help of this firm attain
positive outcomes inappropriate manner.

 Think and act flexible: It is also considering as an important method which is flexible
in nature in which manager assess the research effectively in order to maintain better
performance level. Maintain it simple: It is also an effective and important method in which manager of
the company resolve all the issues by finding better solution in effective manner
(Bernstein, 2015). This will help in saving cost and time of the company. Include the margin: It is an important principle which leads in determining customers
and their taste. This will also help in finding better solution of the customer’s issues.
Basically the main purpose of this is to evaluate better solution by resolving all the
issues.
 Follow your way and heart: Under this principle worker maintain passionate towards
the work in order to attain positive results.
TASK 3
P5 Significance of commercial funnel and application of new product development for
innovation
Commercial funnel is said to be a concept which is used by most of the company with
purpose of evaluating the ways through which more and more money can be generated so as
to get maximum profits. For this most of the organization make and execute number of plans
with an uncertainty whether they will succeed or not (Juma, 2015). Therefore, in such
situations, commercial funnel play an important role and make out the ideas from which
company can get highest benefits. Thus, there main aim is to enhance the sales and
profitability. Further, the concept includes certain steps which are discussed in detail so as to
understand it in a better manner:
Under the first step, company tries to recognize all the ideas through which they can
gain benefits. This includes factors like conversion rate, cost price required while
implementing the plan etc., henceforth, Plan.com generate an idea from which they can get
maximum benefits and raise more revenues. Therefore, amongst all the thoughts they select
those through which profits can be made. Importance of commercial funnel is given for clear
understanding:
 Enhance the quality of products and services
 Plays an important role in growth of the organization. Encourage creativity
Process of new product development
Making a new product is not a easy task in fact it is a lengthy process and main steps
are mentioned below:
Idea generation: This is the first step in which the formulation of idea take place,
with a detailed research about the places and factors like suppliers, distributors, process etc.,
therefore, information are collected so as to make a substantial product in order to fulfil all
the needs and demands of customers (Hogan and Coote, 2014).

Idea Screening: This step is considered after evaluating the above mentioned stages,
for this, Plan.com is taking advices from experts and experienced person who can help them
out in making proper plan for conducting the future proceedings.
Concept development: After going through both the mentioned step, this stage is
determined and finally the concept is written on paper so that it can be converted into reality
by using various actions (Fang, Tian and Tice, 2014).
Development of strategies: Under this, numerous strategies and plan of actions are
done, so, here managers play an important role for the same.
Examine business conditions: Under this, a detailed evaluation of market area takes
place so that company can set a target audience and place from where they can get maximum
benefits.
Product development: in this stage the final features that are to be used are finalized
so that product can be developed in order to satisfy customer’s demands.
Test Marketing: To check the compatibility of the products, first the product is sold
in particular places in order to know whether it will give maximum benefits or not.
Commercialization: This is the last step and it is used for promoting the product so
that it is in reach of every single person. Therefore, the commodity is out for sale on a big
level. For this, various kind of mediums are used like selling through online, through various
shops etc.,
P6 Innovation business case for an enterprise
Innovation concept play important role in business organization to enhance their
performance level. In this context, plan.com is a small business which operate their business
as provider of mobile communication (Tukker And et. al., 2017). In this they serve their
services to business class customers to maintain their productivity level. It directly
contributes in creating strong customer base within the organization and enhance their
profitability level. In this business also expand their business by using better innovation
concept. This can be understood by stated business case: Executive summary: As a small company plan.com deal in mobile communication
sector in which they target business customers who wants to use application to share
their information with others. With the help of this they create their strong customer
base and attain better profitability level. Objectives: he main objective of plan.com is to provide quality mobile services to its
customers in UK. By this firm easily maintain better relation with their customers. Solution: It is crucial for business to provide better convenience to their customers in
order to satisfy their neds and demand in effective manner. Why products are innovative: For capturing customer’s attention, it is important for
pla.com to use innovative products and services to their service users in which they
easily satisfy their demands (Klewitz and Hansen, 2014). In this plan.com launch
better application to their customers in which they easily transfer their information
with other with more security.

 Customers research: To attain better outcomes, it is more important for plan.com to
understand customers demand towards the products features and variety (Hsu, Tian
and Xu, 2014). This will help company in satisfying their customers and enhance their
profitability level. Funding: Proper financial resources is important for implementation of innovation in
which plan.com take loan from banks and another institution to keep enough funds.
With the help of this fir easily maintain better performance level.
 Expected benefits: It is defining expected benefits in which firm enhance their
performance level by implanting better innovation concept. By this firm attain better
profitability level at market place.
TASK 4
P7 Various tools that can be used by enterprise to develop and protect intellectual property
Plan.com is a renowned company in United Kingdom and deals in providing
communication services in respective areas, for retaining their position in market area they
are optimizing various strategies. Along with this, it is important that they have enough
information about their basic needs so that they can be aware of various kinds of frauds and
illegal activities. Some of the laws and legislations are mentioned below in order to protect
themselves:
Trademark: It is used by most of the companies so that customers can easily identify
the services provided by any particular organization. Basically it is used in the form of signs
and symbols for making the product unique from others. This can be seen on packages, labels
or vouchers.
Copyright: This is a legal right or laws that are created by regulatory bodies so as to
give powers to the creator so that they can sustain the originality. Therefore, it can be said as
a form of intellectual property right and only protects the ideas not the thoughts that are
mentioned for further proceedings.
Patent: It can be said as a set of exclusive rights that is given by government for a
limited period of time. This is considered in order to define the claims about the invention
done. It protects an individual’s work from being copied. Patent can be for 20 years but not
more than that (Kogan and et. al., 2017).
CONCLUSION
As per above discussed assignment it has been summarised that concept of innovation is
more essential for every business organization. By implementing this, firm enhance their
performance level by inviting number of customers towards it products and services. Along
with this, various factors are also effect the overall innovation process so it is important for
manager to assess effectively before implementing in their business organization. For
attaining better results, proper training and development programs should be provided by
manager to its workers so they can effectively perform their task and attain better results.
This will direct contribute in enhancing overall performance level of the company at market
place.

REFERENCES
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