Innovation Report: Strategy, Value Capture, Property Rights & Tech

This report provides a comprehensive overview of innovation within a business context, focusing on value capture, intellectual property rights (IPR), strategy management, and technological entrepreneurship. It highlights the importance of value capture mechanisms and complementary assets in the innovation process, emphasizing how companies can generate revenue by meeting customer expectations and satisfying stakeholders. The report also delves into the significance of IPR in protecting innovations, discussing various types such as trademarks, copyrights, and patents. Furthermore, it explores strategy management as a means to enhance revenue and productivity, outlining strategic planning phases and competitive strategies. Finally, the report examines the impact of technological changes and the rise of technological entrepreneurship, using examples like Dubai to illustrate the role of clusters and key drivers in fostering innovation. Desklib provides access to similar solved assignments and study resources.

Running Head: Innovation 0
Innovation
Report
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Innovation 1
Topic – 1 Value Capture
Innovation process is most important part of business. It increases many things of a firm, such as
productivity, revenue, reputation and may other things. It is necessary to maintain increment in
innovation to extend the business. Value capture is an important part of an innovation process. In
this chapter, explain about the complementary assets and revenue generating mechanism.
Companies has followed business model to capture value through fulfill expectations of clients.
Therefore, they are intrested in the products and services of company. However, it is necessary to
satisfied stakeholders of company through generate enough revenue.
Many things are require for capturing value, such as standard products, innovative products and
quantity. Intellectual property rights can be used to protect new innovative innovations.
Companies can sale their products and services in good price with the help of innovations. It is
necessary to use new technology, such as Internet.
Different industries are depends on their process, such as consultant for advice, hotel services,
medical services, and many others. In those services, revenue is depending on their efforts at
innovation.
Many types of revenue generating mechanisms were present in the industry, such as
renting/leasing, brokerage fee, freemium, licensing/franchising, printer, and cartridge. Xerox
914 copier is a best example of revenue generating mechanism.

Innovation 2
Topic - 2
Intellectual Property Rights (IPR) has provided revenue to the creator. It is a best way to
generate revenue from innovations. Creator can provides right to access to the client for their
innovation. Therefore, it is necessary to protect its innovation using IPR.
There are some common IPR, which are generally used to protect innovation of an innovator,
such as Trademarks, industrial designs, copyright, and related Rights, and patents.
IPR is providing protection to product and service in a legal way. However, it has used to create
value for her products and service in different terms, such as financial reward. Trademarks and
brands are used for tangible and intangible resource, such as tagline, trademark, logo of firm, and
design.
Copyright is providing rights to innovator to protect its innovation from anybody. No one can
access her work without her formal permission. It includes different things, such as coping of
products and service, adapting, renting, broadcasting, distributing, and public performance.
Patent right is provide rights to innovator for their innovation. It is a way to secure their
innovation within a period of 20 years. Industrial design is require securing products through
additional protection against illegal copying. In case of furniture design, protection of design is
necessary.

Innovation 3
Topic – 3
Strategy management is necessary to increase the revenue and productivity of company. It is
necessary to implement generic methodology that develops a blue print for the company. There
are three questions in mind to create strategy for organization. First question is where are we
now? Second question is where do we want to go? And third question is how will we get there?
Strategic planning is having four phases, which are analysis, planning, implementation, and
evaluation. This thing is useful for innovators. Action plan is used for many purposes, such as
grow the business, conducts operations, attract and satisfy customers, and achieve the targeted
level of organizational performance. Competitive moves are necessary to successful. There are
three types of strategies, which are functional strategies, business strategies, and corporate
strategies. To take sustainable competitive advantage, it is necessary to have a powerful strategy.
It is necessary to take sustainable competitive advantage through generic strategies. Few things
are necessary to take competitive advantage, such as low-cost provide, narrow market niche, and
develop expertise and resource strengths.
Strategies are used to work and make changes because of changes in environment, such as
financial crisis, new ideas, technological breakthroughs, and many others. There are few test for
a winning strategy, such as goodness of fit test, competitive advantage test, and performance test.

Innovation 4
Topic – 4
Technological changes are necessary to improve performance of the organization. Emergence of
technological entrepreneurship is affecting progress of business and organization. Technology is
useful for startups according to the closed innovation model. Open innovation is a model in
which new technology is introduced from outside. Technical entrepreneurs are having many
features. the company, which is having technical entrepreneurs are independent. Entrepreneur
can controlled and managed the company. The organization is entrepreneurial in that case. The
founder is having knowledge about the technology. Technical entrepreneurs are having same
cluster, such as Silicon Valley and route 128. Dubai is a biggest example of cluster. Diamond
model is influences from these conditions, which are factor condition, demand condition, firm
strategy and rivalry, and related and supported industries.
Dubai is having national strategy for development as cluster. Service industries are heavily
focused by Dubai’s economy. The triple is a group of government, universities, and industry. All
are responsible for development of Dubai. There are some drivers of technological
entrepreneurship, such as diffusion of knowledge, mobility of staff, improved institutional
support, the availability of venture capital, the rise of open innovation, the nature of new
technologies, and role models.