Business Innovation Report: Analysis of 4com Telecommunications

This report provides a detailed analysis of 4com, a telecommunications company, focusing on its innovation strategies and business practices. It begins by defining innovation and creativity, emphasizing their importance for organizational growth and differentiating between innovation and invention. The report then explores how leadership, vision, culture, and teamwork shape innovation and commercialization within 4com. Task 2 delves into the 4Ps of innovation (Product, Process, Position, Paradigm) and the application of the innovation funnel. It also examines frugal innovation, its developments, and how it helps shape innovative ideas for employees, highlighting cost reduction and product enhancement. The report concludes by discussing tools for protecting intellectual property and knowledge management. This analysis provides valuable insights into 4com's approach to innovation and its strategies for achieving business objectives.

INNOVATION

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Creation and its necessity for organization as compare with creativity...........................3
P2. Long term, leaders, norms and togetherness can design creativity and commercialism. 4
M1...........................................................................................................................................5
D1 ..........................................................................................................................................6
TASK 2............................................................................................................................................6
P3. 4P'S of creation and usage of innovation funnel..............................................................6
P4. Way in which frugal innovation is developed to examine and shape innovative ideas to
employees of 4com.................................................................................................................7
M2...........................................................................................................................................8
M3...........................................................................................................................................8
LO3..................................................................................................................................................8
P5. Essential of commercial funnel and application of brand-new merchandise enhancement. 8
D2 ........................................................................................................................................11
LO4................................................................................................................................................12
P7. Tools used to improve, keep on and defend knowledge and intellectual belongings....12
M5.........................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES .............................................................................................................................14

INTRODUCTION
Creation is a term which means to introduce or launch something new or different in the
marketplace to capture different minds of millions of customers. Simply, it can defined as a
generating fresh or unique idea or any device and method to meet the requirements of domestic
and foreign consumers. This report is all about one of the leading companies named as 4com
which is a telecommunication company and included as a public limited company. It is very
popular for their best networking methods across the globe by introducing different methods or
techniques to capture the minds of many clients (Aarikka-Stenroos, 2012). Basically, this report
is classified into four different parts to explain the effective use of innovation and invention as
well as their effectiveness in completing the objectives or targets of a company within minimum
duration. Apart from this, it is also going to describe 4P's of innovation technique by showing
development in the frugal creation. At last, it ends up with the explanation of a specific
innovation business case and signifies useful tools for protecting knowledge by developing
intellectual property.
TASK 1
P1. Creation and its necessity for organization as compare with creativity
Creativity is very much essential for 4com because they manufacture technological
devices and networking sites for the whole world so that they can interact with each other in an
efficient manner (Sandberg, 2012). In fact, innovation is very much important and indispensable
for cited company because it is digital marketing that believes in creating something new and
different. Therefore, there are many more reasons which show importance of innovation. for
example-
 Improvement in existing goods to attract many more customers
 Helpful in achieving business growth within minimum duration
 Maximization of profit
 Differentiation of products of cited company from their competitors
 Bringing changes or reformation in the recent goods and strategies as well as policies
Innovation and invention; both the terms are very much different from each other due to
their roles towards organization’s betterment (Bogers, 2010).

INNOVATION INVENTION
This term shows modification or reformation
of existing product that has already been
invented with the help of different ideas or
creative thinking.
Whereas, it is defined as an introduction or
launching of a product for the first time in
marketplace which is fully considered as a
fresh item.
According to the above case, modification in
Apple iPhones by bringing similar product but
with some new applications or functions shows
innovation.
Whereas, if Apple is going to invent new
device or any advanced technology then it is
said as an invention from which whole world is
not familiar.
Apart from this, 4com wants to use innovation and invention to maximize their profit
with the help of creative ideas or technologies. Therefore, both the terms are very much useful
and essential for organization to gain more income by considering actual demand, tastes and
preferences of various clients (West, 2010). At last, it acts as a key to success and helpful in
differentiating company product from other competitors and able to build their goodwill in the
marketplace.
P2. Long term, leaders, norms and togetherness can design creativity and commercialism
For the achievement of 4com, they need to set a clear vision of their respective goals and
objectives by allocating all resources in a perfect way which may enforce managers to create
something different. In fact, vision, leadership, culture and teamwork can easily shape innovation
and commercialism in different ways due to their broad concept and eminent role behind the
success of company (Ettlie, 2012). Vision – Clear objectives and goals of enterprise enforce leaders to generate unique or
different ideas to earn more profit by applying appropriate strategy. Basically, vision is
all about clear statement about company’s scope and purpose of implementing impressive
schemes. Apart from this, it is a term which helps in estimating the future plans by
considering all necessary elements and factors which play a major role in maximizing the
profit as soon as possible. Leadership – Innovation is an idea which was given by leaders to create new devices and
technologies to facilitate their customers and overall society with fresh products.

Basically, leaders are liable for activities which were taking place in an organization and
try to execute it properly with the removal of obstacles (Rosenthal, 2012). Apart from
this, they need to create a healthy and friendly environment to maintain peaceful
surroundings. Culture – According to 4com, their culture is defined by the way in which employees
work within enterprise by interacting with each other. It means the behaviour or action of
individuals working there by following various essential norms and beliefs implemented
by board of directors (Miller, 2009).
 Teamwork- It shows togetherness of a particular team working to achieve similar target
within minimum time period by conducting all tasks and activities with mutual
understanding. Teamwork describes co-operative nature or surrounding of employees
working in company to implement new and advanced technology. To generate something
new and innovative, organisation needs to work in a single team with co-operation in
between different departments (Gambardella, 2010). Apart from this, togetherness is the
key to success as well as helpful in resolving every obstacle and hedge risk by
implementing effective techniques or methods.
At last, all these terms can easily enforce 4com to introduce creative devices for the
whole society(Brook, 2006).
M1
Innovation is a term which means to design product in a unique form by acquiring ideas
from different sources. For example: by conducting research methodology, primary and
secondary sources, etc. Apart from this, creativity in products may develop an organization by
promoting their products across the globe. Instead of all this 4com believes in launching new and
different ideas to attract millions of customers towards their fresh product by adopted various
promotional techniques or methods of promoting.
In additional it is very essential to acquire appropriate information and data with the help
of different sources or by conducting research programs. In fact research methodology is helpful
in converting inaccurate data into reliable or precise information.

D1
According to McGahan (2010) creative thinking is measured by implementing or
executing various essential methods whose main motive is to analyse the advantages of a
introducing or launching fresh devices or networking system. 4com appointed specialised and
skilled persons
TASK 2
P3. 4P'S of creation and usage of innovation funnel
Just like a marketing mix, innovation also has its specific four p's which are used by 4com
to study marketplace in more sense to promote their products at international level by applying
effective strategies and plans for the improvement. Basically, 4 p's model is invented or
introduced by John Bessant and Joe Tidd which acts as an effective tools for the assessment of
marketplace.
Here are the four P'S of innovation -
1. Product innovation- According to this technique, an enterprise may introduce or improve
particular goods and services which means that there is a reform in items which is offered
to the final consumers. 4com launches new modified devices and brings different
techniques of interacting at longer distance which is a kind of example which shows
product invention. In other words, it is the stage in which raw materials are converted
into finished products for end users.
2. Process- In this, an organization needs to focus on appropriate procedure through which
goods are created as well as transferred from consumers for final consumption. In fact, it
describes corrective procedure of creating fresh products in the marketplace to avoid any
errors or mistakes. Therefore, it is a process of supplying goods and services from one
place to another for its final use by satisfying the needs and wants of customers.
3. Position – It shows actual position of a product in marketplace to identify the need of
modification and reformation according to demand or taste of overall society as well as
individual person. Actually, it is useful in understanding the requirement of changes or
innovation as well as it is beneficial in saving the capital of company. At last, it involves
repositioning of a current product in the market.

4. Paradigm – It is a last stage or P of innovation which shows dominant paradigms of cited
company or whole sector.
Apart from this, innovation funnel is used to describe the various necessary steps to
develop existing products by following proper stages while implementing goods in marketplace
(Godin, 2012).
Main motive of a funnel is to improve the position of products with the help of various
stages-
 First and foremost step is to focus on broad mouth of a funnel by acquiring accurate
information and data to gather extra ideas to develop company’s products.
 Seconds stage is consider as a narrowing segment of a funnel in which there is a
comparison in between current and future goals. It is the stage where there is testing of
authenticity of collected data.
 Last step is narrow part of a funnel which shows the delivery of collected ideas to
achieve company’s objectives and goals (Huizingh, 2011).
P4. Way in which frugal innovation is developed to examine and shape innovative ideas to
employees of 4com
This technique of creativity is mainly focussed on removing damages or complexity from
durable goods. For example: car and iPhone launched by one of the famous companies named as
Apple. Frugal innovation is also known as frugal engineering which always try to design goods
for those customers who believes in brand loyal for longer period of time. Basically products
which were invented at a minimum costing called as inferior goods demanded by weaker
sections of society (Kim, and et.al., 2011).
But, in the coming days or emergence of advanced technology as well as rise in national
income enforce consumers to buy qualitative products at a high price to raise their standard of
living. In other words, frugal innovation implemented various strategies to develop its area by
redesigning various products to serve those consumers who are facing affordability constraints.
Some of the effective developments in frugal innovation are- Additional characteristics of existing products- 4com wants to improve quality of their
products by adopting effective strategies and reformation in policies which is
indispensable to satisfied wants of their desired products (Lindič, and et.al., 2011).

 Reduction in production cost – With the help of this technique, organization tries to
minimize their manufacturing cost and make reasonable priced products. Apart from this,
4com is buying raw materials at a low cost to provide goods and services at cheap rates.
 Emergence of advanced devices – According to this, company develops their products by
enhancing their quality and standard to provide the best goods.
 Produce reasonable and durable commodity.
Innovation funnel is mainly used by an organization to generate new ideas for employees
of 4com to enhance their skills and knowledge. In fact it passes through three stages having
different motive towards enterprise.
At last, organization wants to develop their overall business by acquiring actual and
realistic data and information (Schoonmaker, 2010).
M2
Innovation funnel is mainly used to reduce extra costing which occur while
manufacturing the new products. Main motive of this funnel is to analyse the overall steps of
production to get aware about its usage in an organization to eradicate wastage and costly raw
materials.
M3
Frugal innovation plays an eminent role in achieving objectives of 4com by satisfying the
needs of their consumers by adopting advanced technology which was implemented with the
help of improvement theories.
LO3
P5. Essential of commercial funnel and application of brand-new merchandise enhancement
Funnel is a word which classifies improvement path in three stages to modify existing
product to attract millions of customers by adopting effective strategies and policies (Carayannis,
2010). Basically, it is important and indispensable for the success of 4com such as- Conduct research programs- It helps in gathering accurate data and information to
reform goods in an efficient manner. To implement effective technique or acquire
accurate evidences is very much important.

 Enhancement of quality - Useful in enhancing superiority of a goods as well as their
standard. Image - Tries to build goodwill of company in the marketplace Techniques of capturing minds - Implement attractive and catchy themes Launching of advanced equipments - Introduce advanced gadgets with extra facility Gain - Helpful in maximizing profit within minimum duration Elimination of loss- Removal of extra and unused cost
 Pricing policy - Fulfil the demand of desired consumers by offering products at a
reasonable price.
Instaed of all this, new product development process describes an effective procedure of
enhancing quality or standard of a commodity to capture the minds of number of consumers as
well as try to build the goodwill of a 4com at a marketplace (Snow, and et.al., 2011). One of the
major motives behind product development process is to launch previous goods but in a different
Illustration 1: Innovation Funnel

manner after modifying it according to their customer’s demand and requirement. Apart from
this, product enhancement consists of proper steps to execute the overall plan of development.
Relevant steps are stated as below: Emergence of new ideas- Before processing products, 4com needs to generate new and
unique opinions or views which are only possible by conducting the research method. Screening of ideas- After emerging fresh ideas, an organization needs to screen them to
get aware about the potential of market. Testing and development – It is the time for testing used techniques or tools to eliminate
any obstacles or hidden problems which are helpful in reducing the issues of developing
process. Business analysis – After knowing usefulness of a strategy, it is time to analyse the case
of an enterprise to get aware about benefits and losses after implementing specific idea.
 Product development – Last but not the least, growth of a commodity is very much
indispensable for upliftment of a overall organization. .
P6 & M4 Innovation business case
4com was established to improve small business market communication service by
introducing or launching unique products. In fact, business case is implemented to hedge the risk
of a company while investing in the innovation process. Therefore, creativity of a business case
covers various essential steps which includes-
 Executive summary: EE Ltd. formerly known as Everything Everywhere. It was a digital
marketing BT Group which was established in the year 2010 as a joint venture between
Deutsch Telecom and Organs S.A. Firm provides various types of services like internet
facility, mobile network operations and voice calling in various states of Britain. The need: - Main objective of company is to provide the latest technological products
and services to all customers who need to communicate daily on their mobile phones and
also to those who require internet services for their studies, jobs and household purposes. Solution: The solution is to provide 4G and 2G network services to almost 99% citizens
of UK in such a way that they can use it for their own and professional use. Along with

that, there are various types of persons who are being provided with 3Gg services to 80%
of people who are in the remote areas of city (Thore, 2012). Why product is innovative: The products and services are innovative because these
provides latest technological up gradation software and networking services (4G) to all
citizens of UK. Customer research: This process will help in researching about various types of
customers who will use these services for various purposes. Design and development plans: This plan will help consumers to ensure that all products
and services are being provided based on research done which will help company to
deliver the latest products and services to different customers. Requirement of investment: Funds are being provided to company by various investors
and stakeholders who will invest in company's growth and development based on its past
experience and future plans.
 Expected benefits: Major benefit is that consumers will get the latest technological
services at nominal rate. Along with that, various other advantages will be catered for the
economic growth through latest CCTV cameras and digital software.
Business case is a method or procedure of 4com which shows efficiency of a company in
innovating newly product. Apart from this an organization need to measure techniques which
was adopted in a business case to improve conditions of company (Teece, 2010). 4com uses
various useful tools to measure innovation business case either it is beneficial or not for
example-
 Idea screening – According to this method an organization need to evaluate thoughts
used by 4com. It must be authentic, reliable and appropriate for development of fresh
products.
 Testing – Its time to conduct a testing programs to apply it on planning process to
facilitate their customers in a best manner.
 Strategies development – Testing of innovation business case requires implementation
attractive schemes to enhance the quality of their goods.

Apart from this innovation business case is all about overview of particular scenario of
inventing something new for betterment of whole company which goes through proper steps and
stages . In additional it also highlight effective tools of measuring outcomes of a business case to
modify accordingly.
Funding is a process of offering financial services in the form of monetary term to every
organization with the help of different sources which are stated as follows:-
 Bank loan:- Support and taking help with bank in the form of monetary and later on pay
back with fixed rate of interest. Loan will be either for long term and short term as
interest rate vary as per term and condition.
 Share capital:- Part of a companies fund in the form of equity which was invested by
different shareholders as a investors.
 Crowdfunding:- Collection of money with the help of large number of people for
example use of internet. Furthermore it also consider as a crowdsourcing.
 Venture capital:- Money which was provided by investors while starting their company
with the view of long tern vision.
 Business angel:- Another name of this source is informal investor, angel funder, seed
investor etc.
 Retained earnings:- It means revenue which is earned by an organization is not
distributed between stakeholders and it also denoted as percentage of net income.
D2
According to Walsh (2012) innovation is a broad concept with complex nature because of
their roles played in achieving organizational objectives by attracting millions of customers.
Basically, main objective of innovation is to create different and unique commodity to build
company’s goodwill in the marketplace. In fact 4com wants to eradicate the hidden obstacles
which might be take place while innovating fresh products. Apart from this company bring some
of the impressive ideas to overcome their barriers for example-