Detailed Innovation Report: Business Analysis for Quad

This report examines the concept of innovation and its importance for organizations, using Quad, a technical products manufacturer, as a case study. It explores the role of leadership, culture, vision, and teamwork in shaping innovation and commercialization. The report delves into the 4 Ps of innovation (Product, Process, Position, and Paradigm) and the use of the innovation funnel. It also analyzes frugal innovation and its applications, as well as the importance of the commercial funnel and new product development. Furthermore, the report discusses an innovation business case and tools for developing, retaining, and protecting intellectual property and knowledge within an enterprise. The report covers topics from the introduction of innovation to practical applications within the case study company, including the benefits of innovation, differences between innovation and invention, and the elements that shape innovation.

Innovation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Innovation and its importance in organisation.......................................................................1
P2 Role of vision, culture, teamwork and leadership in shaping innovation and
commercialisation.......................................................................................................................3
TASK 2............................................................................................................................................4
P3 4 Ps of innovation and use of innovation funnel....................................................................4
P4 Development in frugal innovation and its uses in an organisation........................................5
TASK 3............................................................................................................................................6
P5 Importance of commercial funnel and application of new product development..................6
P6 Innovation business case for an enterprise.............................................................................7
TASK 4............................................................................................................................................8
P7 Tools for develop, retain and protect intellectual property and knowledge..........................8
CONCLUSION................................................................................................................................9
REFERENCES ............................................................................................................................10

INTRODUCTION
Process of make and deliver something new to customers is known as innovation. This
undertake by organisation to make and offer better products to its clients. This is a value added
process which carry out by firms to increase convenience level of individuals (Rogers, 2010).
One of the main advantage of innovation is that it help organisation to get competitive advantage
by identify and exploit market opportunities exist in business environment. Nowadays innovation
become necessary for firms because needs and wants of customers are changing at a fast speed
and to achieve success it is very necessary for organisation of offer products to customers as per
their needs. Further this ensure optimum utilisation of firm's resources. Quad, a firm who
manufacture and offer technical products to its customers is taken under this report for study.
Importance of innovation for organisation and role of various elements such as culture and
leadership in shape innovation is also detailed under this report. Further 4 Ps of innovation and
frugal innovation is also mention in this.
TASK 1
P1 Innovation and its importance in organisation
Application of better or new methods to fulfil requirements of individuals and needs of
market is known as innovation. Basically it is a process of making something new which can be
new feature, method or process. Concept of innovation is different from intervention. Concept of
innovation should be adopt by Quad in order to make necessary changes in its technical products
and to offer more features to it customers. Innovation not only increase convenience level of
customers but provide number of benefits to enterprise also. These benefits can be understood by
the following points:
 Enhance productivity of employees and organisation: One of the main benefit of
innovation is that it increase the productivity of firm (Jamshidi, 2011). New and latest
technology help organisation to produce better products with minimum time and cost.
Further new process of doing work increase performance of individuals.
 Enhance effectiveness of communication process: Concept of innovation is wide and
large that's why it require huge amount of effective communication in enterprise. In
absence of that an firm cannot implement the concept of innovation. That's why concept
of innovation bring coordination, cooperation among all individual and activities
involved in this and reduce confusion from mind of employees.
1

 Ensure optimum utilisation of resources: Whenever a new technology or technique is
introduce in enterprise than this help to utilise all the available resources of firm. This
reduce final cost of company's product and at the same time decrease the wastage of
firm's resources.
 Improve work environment: Introduction of new technology in enterprise reduce the
risk related with health of employees (Ellis, 2014). This increase their morale and
satisfaction towards their job which enhance their performance.
 Help enterprise to get competitive advantage: One of the main advantage of innovation
is that it help company to get competitive advantage in market. Adoption of new
technology attract more customers towards the firm's products and better satisfy their
needs and wants. Further it help company to capture a larger market share than its rivals.
Same can be done by Quad to increase sales of its products.
 Reduce cost of firm's operations: Improve and new methods of making products reduce
both time and cost of firm. In this way it help enterprise to achieve efficiency in its
operations.
All these are the main benefits innovation and by apply this concept Quad can achieve these
advantages. In this way company can identify and exploit opportunities exist in business
environment.
Invention: It is a process of adding new features in a product to attract more customers.
Sometimes this is also known as a process improvement on a method, process or technique.
Large number of people think that innovation and intervention both are same but there is number
of differences between these (Kelly, Lesh and Baek, 2014). This can be understood by the
following points:
Basis Innovation Intervention
Meaning Implementation of a new idea, concept,
feature and process for the very first
time is known as innovation.
Introduction of a new idea, that has
never take place before, for
development of a product or service
is known as intervention.
Concept Idea implement in practical. Idea implement in theory only.
Activities Its activities are spread across every Its activities are covered under
2

covered department of organisation. research and development
department of firm.
Concerned with Process of development of various
products is involve in this.
Process of development of a single
product is covered in this.
Skills required Technical, strategic and marketing
skills are required under this.
Only scientific skills are required in
this.
Apple introduce a slim device called iPod which has the features of play many songs and
this innovation of Apple help in attract more number of customers and this product become the
highest selling product.
P2 Role of vision, culture, teamwork and leadership in shaping innovation and
commercialisation
Innovation is a wide concept and get affected by various elements exist in business
environment. Role of culture, vision and leadership in shape innovation can be understood by
following points:
 Innovation and leadership: Leader is an individual who influence the behaviour and
action of large number of individuals and play an important role in every organisation.
Leaders and his traits or personality play a big role in whole process of innovation. He is
the only one who provide direction and motivate individuals to contribute more in
success of firm (Hwang and Tsai, 2011). With effective qualities in leader an enterprise
can better implement the concept of innovation. So with the special traits in leaders Quad
achieve better results from innovation. Overall output of innovation concept depend
mainly in the hand of leader if proper direction is given to workers than firm can be
benefited from number of advantages.
 Organisation culture and innovation: Culture of organisation basically indicates the
traits that exist in work environment of a company. Influencing and motivating
environment encourage employees to take and face new challenges and influence them to
easily adopt the concept of innovation. Opposite of that complex work environment
increase complexity in business operation and give rise to unnecessary hurdles in
implement the concept of innovation. Quad should try to adopt a simple or effective
organisation structure to implement innovation.
3

 Innovation and vision: Vision is that results or place where a firm want to see itself after
some years (Schubert, Langeveld and Donoso,2014). This play an important role in
shaping all activities of firm. Same apply with the innovation, organisation adopt concept
of innovation with the am to achieve their vision. Effective and competitive vision
influence the process of innovation. So it is very necessary that vision of Quad must be
effective so firm can apply the concept of innovation to achieve its end results.
 Teamwork and innovation: Cooperation and type of relationship among all the
employees working in an enterprise come under the concept of teamwork. This largely
affect the process of innovation. It is very necessary there must be a commitment in
workers towards their work and job because these are the one who play an important role
in whole process of organisation. Effective communication and support among the
employees who work in a team increase effectiveness of firm's activities and help to
better implement concept of innovation. To increase effectiveness of team managers of
Quad should try to motivate workers so they can give their best to firm.
All these are the main elements which give shape to the process of innovation. All these should
be consider by the managers of Quad in order to achieve better results form innovation.
TASK 2
P3 4 Ps of innovation and use of innovation funnel
Due to changing needs and wants of customers it become more necessary for
organisations to to make and offer something new (Tortoriello and Krackhardt, 2010). In this
way company can attract more number of consumers and can capture a larger market share.
Before implement the process of innovation its is very essential for a firm to consider all its 4 P's
included in this. That 4p's of innovation concept can be understood by the following points:
 Product: A product is a final offering of a firm to its customers for fulfil their
requirement. Quad make and offer technical products and services to its clients for satisfy
their needs and to solve the issues they are facing. All research and study must be done
by Quad to offer quality and featured products to its customers.
 Process: All the steps which are required for successfully implement the concept of
innovation come under this. Various type of resources such as financial, technical and
human are used by enterprise to identify new ways of doing a work (Prahalad, 2012).
Skilled manpower are require to implement the process so training programmes must be
4

conduct by managers for enhance knowledge of workers so they can easily understand
new process and methods.
 Position: Communication tools or mix of communication tools are used are use by
enterprise to promote features of its product and get a position in market. Print and digital
media can be used by Quad for to communicate with its customers and to make them
inform about its new products and features.
 Paradigm: This means add more features into product to make it more useful and fruitful
during its usage. This make the product more attractive and influence large number of
customers.
These are the basic 4 P's of enterprise which assist and support enterprise during implementation
of innovation (Seyfang and Haxeltine, 2012). All these must be consider by the managers of
Quad to remove hurdles from the innovation process and to achieve set results.
Use of innovation funnel to shape innovative ideas
Process of taking an idea from real life and than covert into a product and offer it to large
number of customers to fulfil their specific requirements is known as innovation funnel. Main
focus of this is to identify current needs and trends of market and offer them featured products.
Different type of research are conduct by Quad to identify needs and then offer products as per
the requirements of customers. Various methods and processes are use by company for this.
Innovation funnel assist enterprise to identify needs of customers and than offer products to
satisfy same.
P4 Development in frugal innovation and its uses in an organisation
Main motive behind frugal innovation is to make the new products and services in reach
of all individuals. Main aim of this concept is to cut down the cost of products and at the same
time deliver value to the customers for the money they paid. Concept of frugal innovation
provide number of opportunities to businesses (Battisti and Stoneman, 2010). This help them to
capture a larger market share by offering its products to middle class people. This help
companies to cut down the cost of products and at the same time maintain quality of product.
Basically concept of innovation is apply by enterprises to add more features in product
and to attract more customers. Same can be apply by Quad by adopt concept of frugal
innovation. Concept of frugal innovation can be better understood by its following principles:
5

 Find opportunity in adversity: According to this principle problem must be analysed by
researcher with every point of view and should be reframed by the problem solver. All
threats related with problem should be converted into opportunities so that problem
solver can easily utilise them.
 Do more with less: As per this, problem solver should try to find solution with all the
data he collected rather than go for more research.
 Think and act flexible: It is very necessary that problem solver must be flexible during
whole research rather than be rigid.
 Keep it simple: Simple and effective methods must be used by problem solver for solve
the problem (Borrego, Froyd and Hall, 2010). Complex methods create unnecessary
problem and delays.
 Include the margin: As per this principle of frugal innovation, it is very essential to
identify customers and include them in problem solving process to find better solutions.
 Follow your heart: As per this, an individual must be passionate about his work.
TASK 3
P5 Importance of commercial funnel and application of new product development
Commercial funnel is a concept used by enterprises to increase sale of it products. Same
can be use by Quad to sale its products to large number of customers. Promotion and marketing
of company's product is come under this. Main activities include under this concept is to first
identify needs of customers than undertake production process and than offer those products to
customers.
6

New product development
Main steps which are included in the process of new product development are stated below:
 Idea generation: This is the initial step included in the process of innovation. In this firm
firsts carry out research about factors such as suppliers, products, process and strategy
used by its competitors (Pande, Szewczyk and Grover, 2010). This provide information
to manager about what is going on market provide a direction to firm's activities. All
collected data help firm to generate a idea about what should be done by firm in future to
capture a larger market share. Further idea can be gather from various other sources.
 Idea screening: Under this stage, idea generated in first stage is develop, further work is
done on concept if enterprise find the idea ethical and suitable. To choose an appropriate
idea firm can take advice from some market experts.
 Concept development: In this stage idea of written plan is transform into real life
actions.
 Development of strategy: Under this step, firm decide sequence of steps need to carry
out by firm. Further manager make a list of resources required for implement the plan.
 Analysis of business situation: Evaluation of conditions exist in business environment is
very essential for firm (Kesidou and Demirel, 2012). This make information to business
7

owner about right time to implement the concept. This help organisation to get long term
benefits.
 Product development: Various efforts are done by firm to decide final features of
products and to give shape to company's product.
 Test marketing: After production of final product company starts selling it into some
specific areas to test acceptability of product.
 Commercialisation: After acceptability of product firm introduce and starts selling its
products to whole world. Various promotional tools are use by company for this.
All these are the main steps which must be use by Quad to make and offer new products to large
number of customers and to capture a larger market share.
P6 Innovation business case for an enterprise
Concept of innovation can be implemented by Quad to add more features in its products
and services. Use of updated technology and methods is one of the essential requirement for
innovation process. This decrease both time and cost of production process and at the same time
help firm to maintain quality of its products. It is very necessary that every worker working in
enterprise should have information bout the features which company want to deliver to its
customers.
Build an innovation case for an enterprise means invest time, money and resources to
complete the project. This is very essential for implement the concept new product development.
For build an innovation case following are the main steps which must be follow by Quad:
 Understand objectives: Detail information about the main goals and objectives which
firm want to achieve in future is very necessary for create an effective plan (Rabosky,
2014). It helps to design specific plans and support in take decisions to achieve desired
results.
 Gather input: All resources are collected under this to smoothly implement the project.
Manager also define and design business model for execute business operations.
 Analysis: After collection of all resources it is very necessary that its evaluation must be
done by manager to find alternative ways of completing the project.
 Tell the story: This is the last stage involve in this process. All collected information is
presented in front of decision maker to get his review. In this presentor face many
challenges such as use of communication channel, maintain the objective of project and
8

many more (Schubert, Van Langeveld and Donoso, 2014). It is very necessary that
presentor should use easy and effective language to communicate data with decision
maker.
Main sources of funds which can be used by Quad for generate funds include the following:
 Company can take loans from banks.
 Enterprise's own earning and saving.
 Funds from venture capitalist.
In order to implement innovation or to offer unique products and features to its customers
it is very essential for Quad to focus more on research and development department of firm. Firm
can collect information in know about the areas in which business could expand and after that
company can evaluate every area in which there are more chances of growth. Quad can change
its existing technology which it use to serve its customers and can offer better innovative
products.
TASK 4
P7 Tools for develop, retain and protect intellectual property and knowledge
Basically, intellectual property is knows as the result of one's unique idea or creativity
that can be in the form of trademark, copyright, patents and etc. protection of intellectual
property is very necessary so no one can misuse it (Damanpour, 2010). Intellectual property can
be a symbol, design and discoveries. Main ways through which an enterprise can protect its
intellectual property includes the following:
 Professional help: Quad can use professional help to protect its intellectual rights. In this
experts provide an password to the owner so only he can use or assess it.
 Trademark: Under this a sign or logo is used by company so customers can easily
identify firm's product.
 Patent: This is another tool which is used by individual to protect their intellectual
property. Owner can register his unique idea so that no one can use it.
 Copyright: This is another form of getting legal protection under this owner get legal
protection for his intellectual property for a particular period of time.
 Right about intellectual property: It is very necessary that owner of intellectual
property should have information about his right and duties (Chaudoir, Dugan and Barr,
2013). He should have information regarding hid power related with intellectual property.
9

All these are the main tools which can be use by Apple in order to save its intellectual
property. One of the main benefit of using these tools is that it provide protection to enterprise fr
its unique idea and process.
CONCLUSION
From the above information it can be concluded that now a days innovation is become an
essential for enterprises due to fast changing needs and requirements of individuals. By adopt
this concept Quad can Make and offer better technical products to its customers. With the help of
4 P's of innovation firm can better implementation its activities. It is very necessary that structure
and leadership in enterprise should be effective because these factors play an important role in
give shape to the idea of innovation.
10

REFERENCES
Books and journals
Battisti, G. and Stoneman, P., 2010. How innovative are UK firms? Evidence from the fourth
UK community innovation survey on synergies between technological and
organizational innovations. British Journal of Management. 21(1). pp.187-206.
Borrego, M., Froyd, J.E. and Hall, T.S., 2010. Diffusion of engineering education innovations: A
survey of awareness and adoption rates in US engineering departments. Journal of
Engineering Education. 99(3). pp.185-207.
Chaudoir, S.R., Dugan, A.G. and Barr, C.H., 2013. Measuring factors affecting implementation
of health innovations: a systematic review of structural, organizational, provider,
patient, and innovation level measures. Implementation Science. 8(1). p.22.
Damanpour, F., 2010. An integration of research findings of effects of firm size and market
competition on product and process innovations. British Journal of Management. 21(4).
pp.996-1010.
Ellis, A.K., 2014. Research on educational innovations. Routledge.
Evangelista, R. and Vezzani, A., 2010. The economic impact of technological and organizational
innovations. A firm-level analysis. Research Policy. 39(10). pp.1253-1263.
Hwang, G.J. and Tsai, C.C., 2011. Research trends in mobile and ubiquitous learning: A review
of publications in selected journals from 2001 to 2010. British Journal of Educational
Technology. 42(4). pp.E65-E70.
Jamshidi, M. ed., 2011. System of systems engineering: innovations for the twenty-first century
(Vol. 58). John Wiley & Sons.
Kelly, A.E., Lesh, R.A. and Baek, J.Y., 2014. Handbook of design research methods in
education: Innovations in science, technology, engineering, and mathematics learning
and teaching. Routledge.
Kesidou, E. and Demirel, P., 2012. On the drivers of eco-innovations: Empirical evidence from
the UK. Research Policy. 41(5). pp.862-870.
Pande, J., Szewczyk, M.M. and Grover, A.K., 2010. Phage display: concept, innovations,
applications and future. Biotechnology advances. 28(6). pp.849-858.
Prahalad, C.K., 2012. Bottom of the Pyramid as a Source of Breakthrough Innovations. Journal
of Product Innovation Management. 29(1). pp.6-12.
Rabosky, D.L., 2014. Automatic detection of key innovations, rate shifts, and diversity-
dependence on phylogenetic trees. PloS one. 9(2). p.e89543.
Rogers, E.M., 2010. Diffusion of innovations. Simon and Schuster.
Maroda, K.J., 2013. The power of countertransference: Innovations in analytic
technique. Routledge.
Schubert, C., Van Langeveld, M.C. and Donoso, L.A., 2014. Innovations in 3D printing: a 3D
overview from optics to organs. British Journal of Ophthalmology. 98(2). pp.159-161.
Schubert, C., Van Langeveld, M.C. and Donoso, L.A., 2014. Innovations in 3D printing: a 3D
overview from optics to organs. British Journal of Ophthalmology. 98(2). pp.159-161.
Seyfang, G. and Haxeltine, A., 2012. Growing grassroots innovations: exploring the role of
community-based initiatives in governing sustainable energy transitions.
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.
11