Innovation in Nisa: Strategies, Funnels, and Development

This report provides a comprehensive analysis of innovation strategies within Nisa, an independent retail group. It begins with an introduction to innovation and its importance, followed by an examination of how vision, leadership, culture, and teamwork contribute to innovation within the organization. The report then delves into the practical application of innovation, exploring the 4Ps of innovation (Product, Process, Positioning, and Paradigm) and the innovation funnel to build employee ideas. Frugal innovation development is discussed, along with its use in Nisa. The report further examines commercialization strategies, including the commercial funnel and New Product Development (NPD). It concludes with an overview of Nisa's innovation building strategy, methods for accessing funds, and tools for developing, retaining, and protecting intellectual property. The report emphasizes the importance of adapting to market competition and the use of innovative strategies to improve sales, customer satisfaction, and overall business performance in the competitive retail landscape.

INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Innovation and its importance in Nisa..............................................................................1
P2. Vision, leadership, culture and teamwork in Nisa provides innovation...........................2
TASK 2............................................................................................................................................3
P3. 4Ps and innovation funnel required for building employee idea.....................................3
P4. Frugal innovation development and its use in Nisa.........................................................4
TASK 3............................................................................................................................................6
P5. Commercial funnel requirement and NPD for Nisa.........................................................6
P6. Nisa innovation building strategy and its way of accessing funds...................................7
TASK 4............................................................................................................................................7
P7. Tools for developing retaining and protecting properties................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation is viewed as an application of better solution which would basically required
to meet solutions, new requirements, unarticulated wants and even existing market (Adam,
2014). This can be accomplished through most effective services, products, processes and
technologies which would be used and that could be readily available in the market. Innovation
is defined as new idea or latest idea which is not used by any one else. This can be concluded
using engineering process whose opposite is exnovation. Innovation is basically considered as
result of the method which collides various ideas in a proper way that may affect the society.
This method is formed and it has found empirically from the services to meet growing of the
consumer demands. This report is based on Nisa which is an award-winning group that is an
independent retailer which is flourishing in the retail market by distributing good quality services
and food for sale. They are basically supporting many communities in UK by extending support
to those independent retailers by making true difference to their local area. Main purpose of this
report is to understand innovation and its use in an organisation and how their organisational
factors get affected through innovation. 4Ps of this field is used to explain it properly.
Commercial funnel and NPD is used for commercialisation of innovation.
TASK 1
P1. Innovation and its importance in Nisa.
Innovation is very essential part of this organisation since this is a food retail sector that
will grow faster is when this is applied in innovation in its schemes and strategies. This method
is use for enhancing the activities and performance of this company and also provide a better
position as compared to their competitors (Bastalich, 2010). These provide various methods for
this firm to be more effective and work efficiently. This method basically help in improving
quality of product and meet the needs of the customer as they would be demanding.
There can be so many activities which are involved in innovation process that consist of
grabbing concepts as well as changing some data specifically for information which would be
used for producing an imagination process for designing some particular product. As the
company is working in the retail market which is having high market competition so they have
to make innovative changes in their process of sales which can help to them to improve their
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sales. There is two concepts which are related to each other, one is innovation and another is
invention. There is some difference between the two terms.
Invention: This method basically consist of an activity in which new ideas can be created
by a person and developed properly to bring into existence in the real life. It formulates them and
finally use it in real scenario. This basically means that new concepts are made and it has not
been used by any one before this. For carrying out invention a person needs to acquire or have
some particular kinds of skills as this is not a teachable job.
Innovation: This method actually means that when a person tries to think of an idea and
then after analysing those idea properly then executing it in the real scenario with proper
planning and it basically makes sure that no one else has though about that idea before this and
then forms that method as a patent of his own. By this method there is always a possibility that
the person tries to make changes or modulation in the existing product to make it more batter and
in improved form.
Innovation is having a huge significance for the company which can hel0p to them to
defeat market rivalries. They can use mobile application to sale out their products online whioch
can help to them to improve their sales. Nisa is a retailing company which is operating in food
and product sale business that basically consist of high competition from the big companies that
are already existing. For today's scenario there has been so many start-ups of the same field
which are rising and also that do not need large capital for working efficiently but only a good
striking idea would be enough for their survival. Though this firm has a good status and proper
position in the market place, there can be still lot of imposed scarcity which causes threats and
competition to this small scale establishment.
P2. Vision, leadership, culture and teamwork in Nisa provides innovation.
Innovation is usually required for essential building of the process for getting good
results (Chun, Chung and Bang, 2015). This basically becomes an important tool which actually
brings success and improvements for achieving long term goals. There needs to be proper
support by managers as well as leaders for making the organisation to work effectively regarding
innovation strategies and methods. There would be obvious situations where there can be queries
or issues related to any topic to the employees then the head people in that department should
effectively solve their queries by following proper procedure which would be trained to them at
the time of their training so that company atmosphere is maintained with proper decorum.
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If in this organisation, expertise as well as employee's capabilities are joint together for
covering the work then it automatically becomes much easy and better in performance as
compared to when individual would do that task separately. For actually implementing all these
factors in real scenario then these points need to be kept in mind which includes vision, mission,
leadership factor and culture. Thus these points are discussed below that how do they help in
bringing innovation (Clausen and Rasmussen, 2011).
Vision: This factor is important as it is one such point where is dependent of its
functionality. This basically determines goals of the company and then plan a strategy to
accomplish them. This factor also analyse the position of the firm in the market place and where
is it lacking. The basic aim of this firm is to provide information about those areas which need
improvements and solutions for better working of the organisation to become top food selling
company in the whole wide world. As NISA is having a vision that it will be a market leader by
providing a quality goods in reasonable pricing so innovation is also done in this sense. They can
innovate new ideas which far from their vision.
Mission: This method is actually required for accomplishing for vision of the company.
Basically for meeting short terms goals and trying to make the firm well proper to efficiently
achieve long terms goals defined by vision of the company.
Leadership: This quality is very important for managing the employees work within the
organisation. If there is a powerful leader or head person then working quality of all the
employees automatically improves since they would help in coordinating them well.
Culture: Surrounding of the company is very important factor which could make the
people working in the firm either comfortable or discomfort in working. If the culture is good
and encouraging then there is vast improvements in the performance level of the workers.
TASK 2
P3. 4Ps and innovation funnel required for building employee idea.
For Nisa there main objective is to aim for using innovative method for concluding
various problems and issues that may arise with time. Innovation funnel is usually needed for
actually acquiring the state which is actually required by the company though the proper
processing which would be needed for boosting up in creativity in this firm for providing certain
procedures (Cosh and Hughes, 2010). This funnel is basically known as a process which will be
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used for transformation for theory which is turned into imagination for testing the real life events
for sure. This method is done for displaying some path which would be used by the people to
make innovation techniques needful and essential according to the requirements. There are
various methods of innovation which needs to be used for conducting process in a proper manner
that would contain 4P's for innovation. These P 's are discussed below.
Product: This is an aspect in innovation process which is very important and that is
offering the firm with some important information that is related to different marketing variables,
techniques as well as capabilities of the organisation. Since this is a food product store thus
packaging material that should be used in this company should be effective and worthy. Since
there is high competition in the market and specially for the same kind of business planing so
there would be big giants that need to be fought against to stand firmly in the market, then for
this the products that needs to be used should be of very high and good quality so that their
position does not decrease. For example Apple Inc. is very successful and holding a good
position in the market place due to innovation ideas which they have made use of.
Process: This process is difficult and complex just like invention. It is not accomplished
so simply, only planning will not matter there are lot of resource which are required to support
that type of idea. There is also one advantage in this process which tends to lower the cost of
activity and improve the effectiveness of the company performance to large extent. Virgin group
basically follows very long and procedural method for carrying out innovation in implementing
the method for its team members and that basically result in improving the quality to travel and
entertain with the innovative plans with the improved lifestyle of the people.
Positioning: Nisa uses this method for continuous learning of methods using giants that
are established before hand in the market. These strategies are basically used for improving the
innovative approach and methodologies which can be used for this organisation to work well and
effectively for long run.
Paradigm: This organisation requires to consider every part of this factor which may be
required for formulation for innovation process. For construction of a proper plan which would
be required for collaborating with the business process for this firm. This process is useful and
very importantly considered as an essential activity that would be required for compiling all
kinds of information related to various factors.
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P4. Frugal innovation development and its use in Nisa.
Innovation is very essential process which is basically required for Nisa to achieve some
success in its working process (Edison Bin Ali and Torkar, 2013). But this is only possible if the
design of these process is carried out properly in a right full manner. This is used for assisting the
organisation to achieve its goal efficiently and properly.
Frugal innovation is something which would be responsible for analysing and helping
managers to reduce the cost for its production and also reduce its complexities. There can be
many non essential features which would be reduced to save any cost at which ever level
possible. This would be basically helpful in identifying some kind of strategy which will be best
suited and eliminates some kind of existing gap between internal parts of the company and their
liabilities which has been addressed (Fiedler and Welpe, 2011).
Full innovation strategies basically depends on the type of capabilities which the firm has
and holds. Also there can be some other factors which are influential to determine the type of
organisation and how their efficiency can be achieved. Budget is also an important factor which
causes other fields to be managed and discussed according to it. This factor determines the
ability of the company and its real requirements which would be targeted for knowing their
potential and what does the organisation really wants according to the customer should be
determined. This would turn this up to required potential of the firm depending upon the
demands of the customer. This determines the ability of the company for determining its actual
needs that would be targeted. Their potential needs to be worked up on properly so that their
efficiency and effectiveness increases.
There are some important factors which the firm needs to follow:
Knowledge about the subject: The person dealing with the matter and explaining every
one with their work needs to have complete knowledge about the subject so that there would be
no difficulty in addressing the problem at any time. This will cause working to be much efficient.
Analysing proper functioning: People at a higher post needs to provide special
guidance to every employee which is working under him such that there is proper functioning
which is done according to rules and regulations of the company ethics and plans made by them.
Determining ability of people: Managers of this firm is required to find out those people
which would basically have some ability to prove themselves and make some difference in the
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firm and bring organisation's quality and working efficiency to an improved state from its past
performance to the present performance.
TASK 3
P5. Commercial funnel requirement and NPD for Nisa.
There has been so many analysis done about various methods and strategies which the
researcher are finding to for basically defining commercial funnel (Harman, 2010). Since its
definition is not that easy but it contains of pretty simple terms and concepts which refer to
process and methods that would majorly lead to transformation of already existing potential of
the customer to real life scenario which is the expected potential from them for meeting the
company's item and services (Hemphill, 2014).
As a new product is developed in this firm then that would be considered as that type of
process which will assist the manager and team leads to built a latest and new items which could
be actually meeting demands and needs of the customers and working accordingly. The
designing of the product is basically done on this basis by following proper procedure of solving
the problem. This would help to gain great amount of competitive advantage which would affect
immensely.
This company Nisa has made proper planning for proper functioning of various fields and
diversifying the concept and reduce its risks to large extent. According to the case study
mentioned in this report, Apple Inc. has basically moderated the music industry to large extent.
In earlier time sit was only providing services to business houses but in recent time there has
been lot of improvements as new thoughts have arise and there has been provision of some kind
of qualitative services to household and colleagues. These strategies may also contain some kind
of loop holes that can be present which would make changes to occur automatically.
NPD is a method which is properly consuming a lot of time and large amount of
investment and with this it consumes so much time and attention of a person that it is not easy to
handle it. But also with that if this process is not properly managed then it can cause a lot of
issues and problems for the later situation. Nisa has decided to enter the latest market trend
which has understood their own potential doing market research. This would help them to
analyse their own position in the market and improve their quality of products and services so
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that they improve their place in the market by giving them items at genuine rate and reasonable
price so that it becomes affordable by the middle class people.
P6. Nisa innovation building strategy and its way of accessing funds.
For proper working of Nisa firm managers have to form a case for carrying out assistance
which would help to accomplish some objectives that would be useful for completing goals of
the firm (Ingemansson, 2010). Their activities would include some factors like investing time
and money for the company in starting any project which will provide something in return with
high level rather than putting those resources in to a non essential action plan. This planning
would basically help in developing latest products for the organisation. There can be certain
requirements which would follow some procedures.
 This company sets some goals and then tries to make extra efforts to accomplish and
fulfil those goals and objectives. There can be certain goals which consist of projects that
are worthy for big and large investments.
 Collection of information is an important process which would be gathered by manager
for supporting organisational activity and their planning in proper manner.
 After the information is being collected then this data needs to be analysed so that
whether it would be useful or not for the final conclusion.
 There are situation when business would be developed and improved by stating the top
management to carry out proper decisions.
Apple Inc. and Virgin group case study draws some kind of conclusion which consist of
various types of investors. There would be many useful processing which can be used for
providing investments to the company and help them in many ways.
TASK 4
P7. Tools for developing retaining and protecting properties.
Personal property rights are something which provides certain exclusive rights and
facilities form to the user and owners so that they can think of their own ideas and plans which
would possible be considered as a intangible assets. These information are secured and not easily
available to be accessed by any one (Kianto, 2011). There is various charges that are kept on
every information which may cause the people to be stopped from accessing the information
which belongs to someone without their permission. Even though the statistics involve tangible
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data but there are also some intangible process which includes trademark, patent, copy rights and
even trade secrets for designing rights. Nisa is actually dealing with food and service centres
which follow some kind of rights and procedure so that the process can be completed in
appropriate manner and also it would be secured. The procedures and methods should be such
that they should be secured and such that no one should be able to take any advantage from them
by doing wrong deeds. There can be chances of such people which may take UN-due advantage
of these policies which should not be misused that is why this also should be monitored (Perks
and Moxey, 2011). some of the methods are here which can help to the innovators to secure his
right on this intellectual property to avoid used by others;
Patents: This is a type of license which is provided by the government to use an idea or
invention for a particular time of period by a particular person. So this is not appropriate for the
organisation to secure their idea because it is has a deadline to use their own innovation.
Trademark: It is a type of symbol which can be used by a company for their innovative product
by publishing it on the product. So as company does not have made changes in their [products so
it can bot secure th3eir innovative process.
Copyrights: It is a type of legal right to use an idea by the business entity for a fixed time so it is
efficient for the NISA to secure their innovation for their own organisation.
CONCLUSION
From the above report, it has been analysed that innovation is very useful and necessary
factor for Nisa organisation to get success and reach to new heights. There is various benefits
and effects of innovation planing. There is slight difference between innovation and invention
which is also discussed in this report. There are various techniques that the company should
follow to improve its efficiency which include manager effective working policy and methods
which are acquired to attract more customer for the company.
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Innovation Strategy. 2017. [Online]. Available Through:
<http://www.telegraph.co.uk/connect/better-business/innovation/what-is-innovation-and-how-
can-businesses-foster-it/> . [Accesses On 18th August 2017].
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