Innovation Report: Frugal Innovation, Business Cases and IP Protection

This report delves into the multifaceted aspects of innovation, contrasting it with invention and emphasizing its critical role in organizational success. It explores how organizational vision, leadership, culture, and teamwork shape innovation and commercialization. The report provides a detailed analysis of the 4Ps of innovation (Product, Process, Position, and Paradigm) and utilizes the innovation funnel to examine and shape innovative ideas. Furthermore, it examines frugal innovation, providing examples of its application in various organizational contexts. The importance of the commercial funnel and the application of New Product Development are also discussed, along with building an innovation business case, including strategies for accessing funding. Finally, the report covers various tools organizations can use to develop, retain, and protect knowledge and intellectual property. The report uses case studies of Apple and Virgin Group to illustrate key concepts, providing a comprehensive overview of innovation management and its practical implications.

Innovation

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Explaining innovation and determine its importance to organisations in comparison with
invention ................................................................................................................................1
P2. Explaining the way in which organisational vision, leadership, culture and teamwork can
shape innovation and commercialisation................................................................................2
TASK 2............................................................................................................................................3
P3. Explaining 4Ps of innovation and explaining the use of innovation funnel to examine and
shape innovative ideas............................................................................................................3
P4. Explain developments in frugal innovation and provide examples of how it is used in an
organisational context.............................................................................................................5
TASK 3............................................................................................................................................6
P5. Importance of the commercial funnel and the application of New Product Development ..6
P6. Building an Innovation Business Case for an organisation including ways to access
funding ...................................................................................................................................8
TASK 4............................................................................................................................................8
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In this current scenario, most of the organisations are adopting and using smart and
innovative methods in the business so that they can easily attract number of customers towards
organisation (Rogers, 2010). Moreover, innovation is an effective process to innovate and
modify existing products and goods with the help of smart ideas and methods. At this time
period, customer's taste and their demand are regularly changed. This research project will be
discussing about innovation and its importance in comparison with invention. In addition,
organisational vision, leadership, culture and team work of employees along with the way these
affect the innovation process will be described here. Furthermore, 4ps of innovation and
innovation funnel will be studied which assist to give shape to new ideas and thoughts. This
project report is totally based on the given case studies of Apple and Virgin group. Presently,
both organisations have launched some new and innovative devices in the external marketplace
to earn higher profit and improving the brand image.
TASK 1
P1. Explaining innovation and determine its importance to organisations in comparison with
invention
Innovation is a continuous process that assists to develop and produce something new
and innovative. With the help of this, organisation can easily attract high number of customers
towards organisation as well as company's products. In context of 4Com Plc, it is a telecom
company of UK which sells electronic devices to customers. Creativity and innovation procedure
is very much important for this enterprise as it is delaying with technical items and devices
across all over the world. At this time period, every customer wants to adopt and use something
new and innovative for completing their tasks and receiving better results (Maroda, 2013).
Moreover, here explaining several importance behind the innovation process such as follows:
 Modifying and updating existing products of organisation which assist to attract
customers towards company.
 This is a significant process which helps in the growth of business and achieving goals
and objectives within minimum time period.
 Increasing profitability and productivity of company's products and items
 Customers can easily differentiate innovative and modified products from others.
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On the other hand, innovation and intervention; both terms are very much different from
each other which play an important role in every organisation.
Innovation Invention
Innovation is an effective process which shows
modification and reformation of existing
products and items of company with the help
of new and smart ideas and methods.
On the other hand, intervention refers to first
time launch and produces something new and
innovative in external market place.
In context of given case study on Apple I
phone, it launched an iPod in market with
smart and new features. Furthermore, this
company have been sold out approximately 1.4
million iPods.
Whereas, if Apple wants to adopt and invent
something new in external marketplace then.
P2. Explaining the way in which organisational vision, leadership, culture and teamwork can
shape innovation and commercialisation
For getting success and achieving goals and objectives of company, it is important to
clarify the vision and mission of company with their employees. So, they can easily identify how
will be complete their decided task as well as how they will enhance their working performance
as well (Montanari and Saberi, 2010). In addition to this, vision, leadership, culture and team
work of organisation helps to give the frame of innovation process. With the help of this,
effectively produce something new and innovative things and items for customers.
 Vision: Clear long term objectives and goals of company in order to generate and
develop new ideas, with the help of them organisation can earn high number of profit as
well as build an brand image in external market place. Moreover, as per the vision of the
company easy to identify and analyse the future plans of organisation. Hence, for
achieving them in effective manner must be properly examine and evaluate all major
factors which can be impacts upon them whether negative and positive in nature.
 Leadership: Leadership is an important term which helps to give proper direction and
guidelines to their followers. With the help of same, employees systematically complete
their tasks and work with better outcomes and results. In context of innovation, for
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modifying and updating existing products of company with the help of smart ideas and
methods, it is necessary to adopt an appropriate leadership style. This is because of the
reason that it includes one leader and other all are followers. With the help of leadership,
it is easy to manage all employees of the organisation as well as to collect better ideas
and views of them. (Silva and et. al., 2010).
 Culture: It refers to the working style and environment of organisation as per which
employees of company complete their tasks. Working performance and their involvement
totally depends on the culture of business firm. Due to the same, it is necessary for every
organisation to develop healthy surrounding. So, employees or workers systematically
operate business functions with better outcomes.
 Teamwork: It shows the unity of employees, these working for achieving similar targets
and goals in decided time period. Moreover, team works is an effective term in which
some persons are working together for common targets and goals, who wants to achieve
in future. Team work assists to increase mutual understanding as well as profitability of
organisation in an effective and efficient manner.
TASK 2
P3. Explaining 4Ps of innovation and explaining the use of innovation funnel to examine and
shape innovative ideas
As per defined, innovation is an effective process which helps to modify and update
existing products of organisation with the help of smart and innovative ideas. Moreover,
according to the marketing mix, it also has 4p's of innovation (amshidi, 2011). It includes four
terms that play an eminent role in the innovation procedure. Basically, 4 p's model is invented by
John Bessant and Joe Tidd. Due to the same, it is one of the important and powerful analysis
tools. With the help of this, it is easy to determine and analyse the external marketplace. 4 p's of
innovation process will be described in an effective manner which can be described as:
 Product: According to this technique and method, an organisation may introduce and
modify their existing products and devices while using smart ideas and views and then, it
will be provided to final consumers. With the help of innovative devices, they can
effectively complete their operations and work with better results in decided time period.
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 Process: This is the another one element of innovation mix. It represents all the activities
and operations of innovation will be completed in a systematic process effectually.
Because of this reason; it is easy to maintain all business activities and operations.
However, all functions and operations get completed in a significant procedure then easy
to innovate and modify existing products and devices of company with the help of smart
ideas and thoughts.
 Position: This refers to create a positive and different image of company from others. By
this, company have to innovate their products in the market by using adequate tools and
techniques so that they can increase their sales at keen competitive market world. By
innovating products, management becomes able to control the switching of their users
from one brand to another. This is helpful for them in generating more revenue for long
term sustainability. By delivering quality products and creating a different image, entity
has an option where they can retain their number of users. This is the third focus of
innovation which involves repositioning of existing good or service of company.
 Paradigm: It is one of the last elements of 4 p's of innovation mix. It helps to represent
the dominant paradigms of 4Com Plc (Horbach, Rammer and Rennings, 2012).
Apart from this, innovation funnel in order to used for describing and identifying the
major stages of innovation process, it helps in modifying and updating existing products and
goods of company. One of the important aim and objective of innovation funnel to improve
position of existing products of enterprise. As well as, it helps to set an brand image in
competitive market place. Innovation funnel includes some stage which explaining in appropriate
and effective manner such as follows:
 In the first step of innovation funnel, it shows the broad mouth which helps to collect
accurate and reliable information for external market place due to collect new and
innovative then company will effectively modify and innovate their existing products.
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Illustration 1: Innovation Funnel, 2017
(Source- Innovation Funnel, 2017)
 In the next step of this process, is that representing narrowing segment of funnel. In this
comparing goals and objectives of the products which was received relevant or not. In
this stage identify and determine the authenticity of gathered information and data.
 Furthermore, in the last stage of this innovation funnel it represent the deliver new and
innovative ideas to company for achieving organisational goals and objective in effective
and efficient manner (Markewitz and et. al., 2012).
P4. Explain developments in frugal innovation and provide examples of how it is used in an
organisational context
Innovation frugal is an effective method and technique, it is mainly concentrate on
removing complexity and damages from company's products and goods. In the context of Apple
company, recently it launched an new device is that I phone in external marketplace. Moreover,
frugal innovation also known as frugal engineering, which always try to innovate existing
products and items of the company with the help of smart ideas and methods.
In the current time period, most of the persons wants to use and adopt something new and
innovative techniques and products in their life for getting proper satisfaction towards their needs
and demands. Hence, society's persons prefers qualitative products at high price because they
wants to improve their standard of living. In the context of innovation frugal, it implemented
several effective methods and strategies in action for redesigning and modifying products and
items (Carrillo-Hermosilla, del Río and Könnölä, 2010).
 Additional characteristics of existing products: In the context of 4Com company,
which wants to modify and update company's devices with the help of smart ideas and
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methods. So organisation can easy to attract high number of customers towards enterprise
and their innovative items.
 Reduction of production cost: Every organisation try to reduce production cost of their
products and goods with the help of smart ideas and thoughts. So they can effectively
manufacture better quality of items at reasonable price.
 Emergence of advanced devices: 4Com company wants to improve quality of products
with the help better quality of products organisation can easy to improve standard of
living.
In the other hand, innovation frugal is an effective process with the help of this company
can effectively modify and redesigning their existing products with the help of smart and
innovative ideas and methods. Due to it is very essential to properly analyse and evaluate the
external market place and trends, because at this time period most of the person wants to use
smart and attractive products for getting proper satisfaction towards their needs and wants. In the
addition of this, it is necessary to collect reliable and accurate information and data from external
market place. Then, as per the information and market trend should innovate existing products of
the organisation ( Stirman and et. al., 2012).
TASK 3
P5. Importance of the commercial funnel and the application of New Product Development
Funnel is an effective method which is mainly divided into three stages with the help of
this systematically modify existing products while adopting and using smart methods and
thoughts. Innovative and attractive items of company assist to attract high number of customers
towards organisation. Innovation process helps to improve the productivity and profitability as
well. Moreover, its plays a significant role in 4Com Plc its representing under following such as
follows:
 Innovation funnel assists to collect innovative and accurate information from external
market place with the help of this effectively reform and modify existing products of the
organisation.
 This procedure is helpful in improving the quality of devices and products as well as
assist to improve standard of living in an appropriate manner (Tortoriello and Krackhardt,
2010).
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 It aids to build an effective image in the competitive market place, due to customers can
easy to differentiate company's products and services from others.
 With the help of this method, company can effectively identify smart methods and
innovative themes for innovating and modifying existing devices (Rex and et. al., 2011).
 This innovation method is useful in increasing profitability in minimum time period.
 With the help of this, company can easily innovate and modify existing products. For the
same, organisation will give proper satisfaction to consumers towards their needs and
wants.
Moreover, new product development (NPD) is a continue process which representing the
way of producing something new products and goods while using smart ideas and methods in
effective and efficient way. It helps to improve the standard of living and quality of company's
products and services (Victora and et. al., 2011). When an organisation produce something new
and attractive products and then launch in external market place, it helps to attract high number
of customers towards organisation and their goods as well as its helps to improve profit level of
enterprise. One of the major objective and aim behind new product development is to launch
something innovative according to customer's demand and their requirements. In addition of this,
several steps are included for the same like:
 Emergence of new ideas: Before starting new product development process, company
should conduct external market research. With the help of this, market trends are
identified and new and unique ideas for producing something new for consumers are
generated.
 Screening of ideas: After gathering new ideas and views from external market, then
must be get aware about potential market.
 Testing and development: In this step, appropriate techniques and tools for eliminating
and removing obstacles and errors are to be selected. It is because; these directly put their
impact on new product development procedure (Sorescu and et. al., 2011).
 Business analysis: After choosing and selecting specific methods and techniques for
producing new products then must be aware about actual benefits and losses.
 Product development: In the last step of this process, new products are finally produced.
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P6. Building an Innovation Business Case for an organisation including ways to access funding
4Com plc is a mobile networking provider business firm. The main motive of this
business enterprise is improving and enhancing the communication services in United Kingdom.
But sometimes, this business firm faces some issues from using the resources in manufacturing
and process. This company focuses on maintaining high quality standard of communication. In
innovation case, there are some steps included:
Executive summary- It is a small organisation which provides the largest network to
people of UK. The employees of this company are highly expert in their fields. Its main focus is
on improving the quality of communication. It also gives high quality 4G internet services to its
users. This business firm also provides phones with a specification of WI-FI calling and
connection.
Need- Main motive of this business organisation is to provide a better quality and high
internet services by using new and the latest technology (Pauli, 2010).
Solution- The main solution of this is that organisation gives 4G internet services.
Research of consumers- Under this stage, there is a need of finding new users and target
them at various places. This business firm conducts a research on the tastes and preferences of
consumers (Snow and et.al., 2011).
Development and design planning- After research, there is the need to do planning
according to demand of users.
Need of Investment- It is necessary for doing business. 4 Com plc takes funds from the
banks, speculators and some bondholders. They give loan on the basis of their last experience
TASK 4
P7. Different tools that organisations can use to develop, retain and protect knowledge and
intellectual property
In context of 4Com Plc, it wants to modify and update their products and devices with the
help of smart techniques. With the same, they can attract high number of customers towards
organisation and their services. In addition to this, skills and capabilities of employees play an
important role in achieving the organisational goals and objectives.
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 Consumer knowledge: It is important for every company to identify and determine
consumer's demand and their needs, then as per their requirements company will produce
products ad goods for them.
 Information regarding market trends: For innovating and updating existing products
and devices of company, it is important to properly analyse and evaluate the external
market trends.
 Analysis of macro environment: Environmental changes and factors are like technology
development, social diversification, economy of country and many more. All these
directly put a huge impact on organisation and their working system. Due to the same,
organisation must properly analyse and evaluate the environmental factors and issues as
well as should try to control them.
 Research and Development: At this time period, most of the customers want something
new and innovative for getting proper satisfaction towards their needs and wants.
Furthermore, it is essential for every organisation to conduct research in the external
market place.
CONCLUSION
From the above mentioned research project, it has been concluded that innovation is an
effective process which assists to modify and update the existing products and goods of
company. Innovation is one of the best methods for attracting large number of customers towards
organisation and their attractive items. This research project has explained about the actual
importance of innovation technique. Further, innovation funnel and frugal implementation have
been defined which has shown that both the methods and techniques help in modifying and
updating existing products in a significant way.
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REFERENCES
Books and Journals
Carrillo-Hermosilla, J., del Río, P. and Könnölä, T., 2010. Diversity of eco-innovations:
Reflections from selected case studies. Journal of Cleaner Production. 18(10). pp.1073-
1083.
Horbach, J., Rammer, C. and Rennings, K., 2012. Determinants of eco-innovations by type of
environmental impact—The role of regulatory push/pull, technology push and market
pull. Ecological economics .78. pp.112-122.
Jamshidi, M. ed., 2011. System of systems engineering: innovations for the twenty-first century
(Vol. 58). John Wiley & Sons.
Markewitz, P., and et. al., 2012. Worldwide innovations in the development of carbon capture
technologies and the utilization of CO 2. Energy & environmental science. 5(6).
pp.7281-7305.
Maroda, K. J., 2013. The power of countertransference: Innovations in analytic technique.
Routledge.
Montanari, A. and Saberi, A., 2010. The spread of innovations in social networks. Proceedings
of the National Academy of Sciences. 107(47). pp.20196-20201.
Pauli, G. A., 2010. The blue economy: 10 years, 100 innovations, 100 million jobs. Paradigm
Publications.
Rex, D. K and et. al., 2011. The American Society for Gastrointestinal Endoscopy PIVI
(Preservation and Incorporation of Valuable Endoscopic Innovations) on real-time
endoscopic assessment of the histology of diminutive colorectal polyps.
Gastrointestinal endoscopy. 73(3). pp.419-422.
Rogers, E. M., 2010. Diffusion of innovations. Simon and Schuster.
Silva, A. C and et. al., 2010. Innovations in CT dose reduction strategy: application of the
adaptive statistical iterative reconstruction algorithm. American Journal of
Roentgenology. 194(1). pp.191-199.
Sorescu, A and et. al., 2011. Innovations in retail business models. Journal of Retailing. 87.
pp.S3-S16.
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Stirman, S. W and et. al., 2012. The sustainability of new programs and innovations: a review of
the empirical literature and recommendations for future research. Implementation
Science .7(1). p.17.
Tortoriello, M. and Krackhardt, D., 2010. Activating cross-boundary knowledge: The role of
Simmelian ties in the generation of innovations. Academy of Management Journal.
53(1). pp.167-181.
Victora, C. G and et. al., 2011. Health conditions and health-policy innovations in Brazil: the
way forward. The Lancet .377(9782). pp.2042-2053.
Online
The People Innovation Experts, 2017. [Online]. Available through:
<http://www.innovationbeehive.co.uk/>. [Accessed on 29th August 2017]
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